Saudi Aramco’s IPO Prospectus Doesn’t Reveal How Much It Plans to Sell

Saudi Aramco’s IPO Prospectus Doesn’t Reveal How Much It Plans to Sell

Saudi Arabia moved a step closer toward listing its national oil giant Aramco on its domestic exchange, releasing the preliminary prospectus late Saturday for what is slated to be the world’s largest initial public offering. However, the energy giant indicated that it won’t disclose how much it plans to sell of the company or raise from the offering More...

by asif | Published 2 weeks ago
Loan Investor Owl Rock Sells 20% Stake to Fund Expansion
By asif On Friday, November 8th, 2019
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Loan Investor Owl Rock Sells 20% Stake to Fund Expansion

Owl Rock Capital Group, one of the fastest-growing firms in one of Wall Street’s fastest-growing sectors, is about to get even bigger. The private-lending business launched in 2016 has sold a 20% stake to Dyal More...

Stocks Climb on Signs of Progress in U.S.-China Talks
By asif On Thursday, November 7th, 2019
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Stocks Climb on Signs of Progress in U.S.-China Talks

U.S. stocks rose Thursday on signs of progress in trade talks between Washington and Beijing. The Dow Jones Industrial Average gained 183 points, or 0.7%, in morning trading. The S&P 500 advanced 0.5%, while More...

Dow Industrials Rise on Hopes for Trade Deal
By asif On Wednesday, November 6th, 2019
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Dow Industrials Rise on Hopes for Trade Deal

The Dow Jones Industrial Average edged higher Tuesday as investors grew hopeful that the U.S. and China will roll back tariffs as they work to clinch a partial trade deal. The “phase one” pact with China had More...

U.S. Stocks Outpacing the Rest of the World
By asif On Monday, November 4th, 2019
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U.S. Stocks Outpacing the Rest of the World

The Dow Jones Industrial Average climbed Monday to its first record since mid-July, the latest example of investors’ faith in the domestic economy powering U.S. stocks to fresh highs. Buoyed by optimism about More...

Investors Should Watch Out for an Unbalanced Economy
By asif On Sunday, November 3rd, 2019
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Investors Should Watch Out for an Unbalanced Economy

When one part of the economy stumbles and another does rather well, the perfect policy would be support the laggard while holding back the rest to keep growth balanced. Instead the Federal Reserve has been forced More...

The Making of the World’s Greatest Investor
By asif On Saturday, November 2nd, 2019
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The Making of the World’s Greatest Investor

Jim Simons sat in a storefront office in a dreary Long Island strip mall. He was next to a women’s clothing boutique, two doors from a pizza joint and across from a tiny, one-story train station. More...

Marathon Petroleum Plans to Spin Off Gas Stations, May Shake Up Leaders
By asif On Tuesday, October 29th, 2019
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Marathon Petroleum Plans to Spin Off Gas Stations, May Shake Up Leaders

Oil refiner Marathon Petroleum Corp. is preparing to spin off its gas-station chain and considering shaking up its executive leadership to appease activist shareholders, including Elliott Management Corp., according More...

Gold Loses Luster, Yen Falters as Investors’ Outlook Improves
By asif On Sunday, October 27th, 2019
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Gold Loses Luster, Yen Falters as Investors’ Outlook Improves

Money managers are scaling back wagers on gold, the Japanese yen and other popular havens, betting that the outlook for the U.S.-China trade war and Brexit will continue to improve. Gold prices are down nearly More...

IBM’s New Hat Doesn’t Cover Old Problems
By asif On Thursday, October 17th, 2019
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IBM’s New Hat Doesn’t Cover Old Problems

IBM says its Red Hat unit generated $987 million in revenue for the latest quarter on a normalized basis. If nothing else, the folks at Red Hat will probably never feel unloved by their new adoptive parent. IBM More...