As expected, the Fed kept interest rates unchanged on Wednesday while also signaling that “they would wait to see how the economy fared before making another move”....more
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...more
As a result of the new economic realities brought about by reduced global oil prices and the resultant reduction in the oil export revenues of the Kingdom of Saudi Arabia, for so long the country’s economic lifeblood, there...more
Saudi Aramco’s slow trickle of IPO-related information continued this weekend, including its goal of setting overall company market value at a staggering $1.7 trillion. The figure, though massive, is still well short of the...more
Here’s about as 2019 as we can get in the financial world (with a healthy dose of 1950s-era gender discrimination for good measure): a series of tweets from tech entrepreneur David Heinemeier Hansson alleging gender...more
Uber reported another quarter of billion+ dollar losses, but as so many things on Wall Street & Silicon Valley tend to go, the news wasn’t all bad because those numbers were far better than the $5.2 billion it lost in Q2....more
Federal authorities have been looking into Under Armour’s accounting practices for the better part of the past two years, a revelation that sent company shares reeling in premarket trading this morning....more
Details are trickling in on the tentative Brexit agreement reached between UK and EU negotiators this week, just 14 days ahead of the Halloween departure deadline. A massive sticking point here remains the British...more
Because the Nissan leadership scandal is about as well-contained as Chernobyl in the early days [thanks, HBO], French automaker Renault has voted this morning to remove Chief Executive Thierry Bolloré amid concerns over the...more
A drone attack on Saudi Aramco oilfields this weekend affected 5% of global production and sent “energy prices substantially higher” late Sunday and early today. Analysts don’t anticipate a “severe shock to energy markets and...more
Jobs Report Friday! Here’s what to look for in the numbers – WSJ and Bloomberg and NYTimes The White House has rolled out its “long-awaited plan” to return federal mortgage giants Fannie Mae and Freddie Mac to the private...more
The FTC has opened a probe into e-cigarette maker Juul’s marketing practices, including allegations that the company “used influencers and other marketing to appeal to minors”....more
M&A in the Middle East saw a massive 284% year-on-year rise in value in H1 2019—though this was due in large part to a single deal, Saudi Aramco’s announced US$70.4 billion acquisition of a 70% stake in petrochemical firm...more
Saudi Aramco’s mega IPO plans are back on, and while valuation and other stumbling blocks remain, the kingdom is hoping to raise billions via the public offering as early as next year....more
Carlos Ghosn, the onetime “savior” of Nissan, faced another indignity while again behind bars in Japan—the automaker officially removed the former chair from the board altogether....more
A biweekly update on blockchain technology applications, distributed energy resources, and other innovative technologies in the energy sector. There is a lot of buzz around blockchain technology, distributed energy resources...more
On the surface, 2018 looked like a good year for the Gulf region. The oil price averaged over US$70/barrel for the year, compared to an average of US$50 for the previous three years. Combined with increased production, that...more
The U.S. Supreme Court Slows Children's Climate Lawsuit - For Now - "In the latest step of a fascinating bit of constitutional law called Atmospheric Trust Litigation, the Chief Justice halted the District Court trial...more