Financial Daily Dose 12.06.2019 | Top Story: Aramco Prices Shares at High-end of Range That Would Value Company at $1.7 trillion

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Saudi Aramco has priced its offering at the high end of its range, setting the company up to raise more than $25 billion and value the company at nearly $1.7 trillion—all part of what promises to make this the world’s biggest IPO ever  – NYTimes and WSJ and Bloomberg and Law360

Jobs Report Friday! Here’s what we’re watching for in the numbers – MarketWatch and Bloomberg and NYTimes and WSJ

United Airlines CEO Oscar Munoz will step down from his leadership role in May 2020, to be replaced by airline president J. Scott Kirby.  Munoz, who joined United from railroad freight company CSX in 2015, will remain on as executive chair for a one-year period following Kirby’s promotion – NYTimes and WSJ

Money-management behemoth BlackRock has ousted the head of its active equities business, Mark Wiseman, for “failing to disclose a relationship with a colleague” in violation of company policy.  Until his abrupt departure, Wiseman had been on a short list of potential heirs to Laurence Fink’s CEO role – WSJ and Bloomberg

General Motors will partner with South Korean company LG Chem to bring some 1000 jobs to the Lordstown, OH area in which it shuttered one of its car plants this year. The venture will focus on manufacturing electric-vehicle batteries – NYTimes and WSJ

Though much of Amazon Web Services’ suit against the US over a DOD contract it lost out on to Microsoft remains under seal, audio from a November Court of Federal Claims hearing reveals that AWS blames White House meddling for the decision to award the $10 billion contract to Microsoft – Law360

Japanese Prime Minister Shinzo Abe announced plans on Thursday to spend $120 billion in the coming years to stimulate the country’s slowing economy. If passed, the package “would continue Japan’s cycle of borrowing and spending to stoke growth and pay for the country’s expanding social welfare costs to support a rapidly aging population” – NYTimes

A Delaware Vice Chancellor has determined that a group of shareholders “pursuing a derivative suit over Oracle’s $9.3 billion purchase of NetSuite Inc. should get substantial access to documents gathered by the company’s own special litigation committee”—a remarkable ruling that could open up more than 1 million records to plaintiffs – Law360

The UK’s Serious Fraud Office announced this week that it’s opened a probe into mining giant Glencore PLC for alleged bribery. Though the SFO didn’t give more details, the agency’s been looking into Glencore’s activities “in the Democratic Republic of Congo and its relationship with Israeli diamond merchant Dan Gertler” – WSJ and Law360

Because there’s nothing quite like a cartoon-induced ugly cry on a Friday morning, right? In this case, it’s worth it  – Sony

Have a good weekend.

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