Aramco briefly passes coveted $2 trillion mark on second day
Saudi government-owned oil giant Aramco became the most valuable company in the world yesterday, when its public offering raised 25.6 billion USD to value the company at 1.78 trillion USD, the largest initial public offering and company valuation in history. Today, the company's valuation briefly passed the 2 trillion USD mark, which is how much Saudi crown prince Mohammed bin Salman had initially wanted the public offering to raise.
saudi-arabia aramco government valuation public-offering trillion mohammed-bin-salman crown-prince
TheGuardianRelated Articles
Elon Musk Gains $8 Billion to Become World’s Fourth-Richest Person
Elon Musk’s financial upswing shows no signs of slowing. The rise vaulted the Tesla co-founder past French luxury tycoon Bernard Arnault, the wealthiest non-American on the Bloomberg Billionaires Index. Musk’s fortune has grown by $57.2 billion this year, the second-biggest increase on the index after Amazon.com Inc. founder Jeff Bezos’s.
technology business markets wealth valuation sp-500-index amazoncom-inc tesla-inc pursuits elon-reeve-musk bernard-arnault mark-elliot-zuckerberg billionaires space-exploration-technologi
Bloomberg
Dow Jones plunges again
Dow Jones plunges again
Stocks in US markets today continued to plunge due to the coronavirus crisis coupled with the Saudi-Russian oil price war, with the Dow Jones industrial average dipped below the 22,000 level after suffering its worst first quarter in the institution's entire 135-year history. Major financial institutions like Goldman Sachs and JP Morgan predict an unprecedented first-quarter contraction in the US economy of between 25 to 34 percent.
goldman-sachs saudi-arabia oil russia markets crisis stocks price war history united-states coronavirus dow-jones contraction industrial-average jp-morgan
BusinessInsider
EasyJet fleet permanently grounded due to COVID-19 crisis
The UK airline EasyJet has announced that due to the coronavirus crisis it is completely shutting down its operations for the next two months, with its entire fleet of airplanes grounded and payments for 107 new Airbus planes tabled for the foreseeable future. EasyJet will reduce 4.5 billion GBP in spending, laying off 4,000 of its 9,000 strong workforce in the UK, and will not be seeking government aid.
uk government crisis aid payment spending airline airbus coronavirus staff covid-19 easyjet fleet grounded
TheGuardian
Oil prices fall to 17-year low
Oil prices fall to 17-year low
Oil prices fell to the lowest in more than 17 years as demand plunged as a result of the pandemic and an unrelenting price war between Saudi Arabia and Russia showed no signs of easing.U.S. West Texas Intermediate (WTI) crude futures briefly dipped below $20 per barrel to $19.90, their lowest level since March 20, when they fell as low as $19.50.
business-news saudi-arabia energy russia markets
Google