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this is aramco, saudi aramco -- it's a miss for saudi aramco, not a big surprise given the production has been curtailed since the second period of last year in line with opec-plus cuts. in the first quarter, net income coming in at 103 billion riyals, the estimates have been for shy of 106 billion. a miss in terms of the first quarter. they are also sing in terms of total revenue for the first quarter, that was slightly above first quarter revenues but it's the net income that's weaker and they will pay a dividend of 31 billion u.s. dollars, so that's important for the saudi government itself, which is the majority shareholder in saudi aramco. they will pay $31 billion dividend growth in spending targets and gas, but it's a miss when it comes to net income from saudi aramco. the defense contractor reports record order backlog thanks in part to european governments boosting defense budgets in the face of that russian aggression. joining me for an exclusive conversation. that is next in the defense space. this is bloomberg. ♪ tom: welcome back, defense contractor has reported a near
this is aramco, saudi aramco -- it's a miss for saudi aramco, not a big surprise given the production has been curtailed since the second period of last year in line with opec-plus cuts. in the first quarter, net income coming in at 103 billion riyals, the estimates have been for shy of 106 billion. a miss in terms of the first quarter. they are also sing in terms of total revenue for the first quarter, that was slightly above first quarter revenues but it's the net income that's weaker and...
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May 7, 2024
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it relies heavily on aramco to finance its spending. our business correspondent in the gulf — samir hashmi — explains. saudi arabia has put in place production cuts, which have been there sincejuly 2022. and since then their profitability has taken a hit because not only has their production gone down, but even oil prices have fluctuated during this period. now, in the last three months, if you look, prices did go up briefly, but that was only for a few weeks. and after that, prices were back to where they were. the average price in the last six months. so that is why the profitability may not go up as much as we have seen, let's say, in the previous years when oil prices were over $100 a barrel. but the thing to keep a watch on is going to be the dividend, because that's the main thing for the saudi government. it's a state—owned company and the saudi government benefits the most with a high dividend income. so despite the profitability coming down in the last year or so, aramco has not cut the dividend they pay out. aramco has b
it relies heavily on aramco to finance its spending. our business correspondent in the gulf — samir hashmi — explains. saudi arabia has put in place production cuts, which have been there sincejuly 2022. and since then their profitability has taken a hit because not only has their production gone down, but even oil prices have fluctuated during this period. now, in the last three months, if you look, prices did go up briefly, but that was only for a few weeks. and after that, prices were...
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May 7, 2024
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saudi aramco has been trying — about those plans? saudi aramco has been trying to _ about those plans? saudi aramco has been trying to expand - about those plans? saudi aramco has been trying to expand their . has been trying to expand their production capacity not only when it comes to crude but other segments of businesses as well, whether it is natural gas or chemicals, and that is what they have done with china, they have signed a new agreement with the chinese state company and they are hoping they would be able to draw investment from them this could go up in years to come. this is something the saudis and aramco are looking at seriously, they think there is a potential to draw in westerners, that is something the saudis had kept restricted for many years, where they were not drawing and many investors now they realise there is potential given there is the demand for them in a decade and a half, this is the time to attract investment and use this cash to expand their businesses beyond crude. that's the main thing they want to f
saudi aramco has been trying — about those plans? saudi aramco has been trying to _ about those plans? saudi aramco has been trying to expand - about those plans? saudi aramco has been trying to expand their . has been trying to expand their production capacity not only when it comes to crude but other segments of businesses as well, whether it is natural gas or chemicals, and that is what they have done with china, they have signed a new agreement with the chinese state company and they are...
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May 30, 2024
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saudi aramco said to launch a $10 billion share offering in oil giant aramco and former interest is said to exceed the offer amount already. deal abandoned, bhp walked away from its bed for anglo american leaving the miner to look elsewhere to expand copper production. good morning, welcome to thursday. it has been another weak treasury auction, knocking stocks, bonds yesterday just at the moment when the fed is in no hurry to cut interest rates. will the growth in inflation data reinforce the view that there will be no cuts from the fed this summer? looking to futures on both sides of the pond, pointing lower this morning. we have german inflation data muddying the waters for the ecb next week, and we will dig in with oliver crook later in the program. if you flip over to the cross asset sure, you can see the impact of that auction yesterday. two year at 4.97 currently, and high-yield also drove the dollar higher at the expense of asian currencies. graded we see dollar-yen top 160? brent trading at $83 per barrel, .2 of 1% weaker as we had to the opec last meeting where we get more info
saudi aramco said to launch a $10 billion share offering in oil giant aramco and former interest is said to exceed the offer amount already. deal abandoned, bhp walked away from its bed for anglo american leaving the miner to look elsewhere to expand copper production. good morning, welcome to thursday. it has been another weak treasury auction, knocking stocks, bonds yesterday just at the moment when the fed is in no hurry to cut interest rates. will the growth in inflation data reinforce the...
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May 20, 2024
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and aramco executives who already have very deep ties with japan and japanese companies, who i would expect to see is for mbs to pursue looking at other investments, both money going into japan but also to see perhaps to kind of ring some japanese investment to saudi arabia. the saudis are looking to diversify their economy. they would like to manufacture things, for example in saudi arabia. i think they would love to get toyota to open a plant in saudi arabia and other things and what saudi arabia has to offer is they have land, very cheap energy resources to offer, subsidies in terms of that and so it will be interesting to see if there are any mous that are signed as evidence of companies injapan looking to pursue economic investment in saudi arabia and then also there is the saudi money that can be invested in japanese companies with the pif looking to really diversify their holdings and their investment. in their holdings and their investment.— their holdings and their investment. ., , investment. in other news, bilinarra — investment. in other news, bilinarra elon _ investm
and aramco executives who already have very deep ties with japan and japanese companies, who i would expect to see is for mbs to pursue looking at other investments, both money going into japan but also to see perhaps to kind of ring some japanese investment to saudi arabia. the saudis are looking to diversify their economy. they would like to manufacture things, for example in saudi arabia. i think they would love to get toyota to open a plant in saudi arabia and other things and what saudi...
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now, both saudi aramco and bp posted record profits this time last year. let's speak now to our business editor simonjack. it tells us we are coming out of the back end of the energy crisis sparked by the invasion of ukraine by russia oil and gas supplies short of or shunned by many markets which sent prices rocketing. we are coming down from there. i think it's very unlikely that the likes of bp will ever make as much money during the dead during that 2022, 2023 period. what is interesting about the bp numbers, down 45%, this likely miss the estimates that people said they were expecting them to make profit. where as shell, similar company profile, exceeded their efforts. they have been unapologetically going hell for leather for more oil and gas production. bp has been less aggressive in that way, trying to trick to its transition plans, both as we condemn a little bet but there is tension between bp and shell shareholder saying they would like the bp strategy to be more like shell. ,., ., the bp strategy to be more like shell. ., ., ~ ., ., shell. good
now, both saudi aramco and bp posted record profits this time last year. let's speak now to our business editor simonjack. it tells us we are coming out of the back end of the energy crisis sparked by the invasion of ukraine by russia oil and gas supplies short of or shunned by many markets which sent prices rocketing. we are coming down from there. i think it's very unlikely that the likes of bp will ever make as much money during the dead during that 2022, 2023 period. what is interesting...
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May 31, 2024
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we learned that aramco would offer 1.5 billion aramco shares with the price of 26 to 29 riyals per share. what we know is that figure could actually be a lot higher if it exercises what is called a gr greenshoot option. if it went with the greenshoe option, aramco could raise $13 billion as well. so watch that space. all of this coming as we see the kingdom coming under more pressure to find new sources of funding to advance its economic diversity drive. aramco is set to pay $124 billion to the government this year. we know the financing is being squeezed which could be one of the reasons why aramco is tapping the market to raise this additional capital. back to you. >> very interesting. we will keep a close eye on the market at this stage. prices are actually moving lower. thanks, dan, for your report. >>> let's look at soft commodities. orange juice prices have soared on high brprices driven by bad crops in brazil. to discuss this in detail, i'm pleased to say we have the senior analyst for beverages. good morning, francois. >> good morning. >> why are we seeing orange juice prices mov
we learned that aramco would offer 1.5 billion aramco shares with the price of 26 to 29 riyals per share. what we know is that figure could actually be a lot higher if it exercises what is called a gr greenshoot option. if it went with the greenshoe option, aramco could raise $13 billion as well. so watch that space. all of this coming as we see the kingdom coming under more pressure to find new sources of funding to advance its economic diversity drive. aramco is set to pay $124 billion to the...
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May 31, 2024
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saudi aramco and a share sale could rival the record-breaking ipo. we have dan murphy joining us now from dubai with the latest play in the world of oil. many traders, dan, have warmed up to the idea that production cuts may be held constant if not expanded. what is the ophfeel from the mie east right now? >> reporter: dom, this comes at an interesting time with the opec plus meeting getting under way on sunday and at the same time we have big news from the biggest of bill oil. aramco confirms it seeks so raise $12 billion in a new share offer. what do we know about this? we know this was widely s spec speculated, but aramco will offer 1.5 billion shares at a range of 26 riyals or 29 riyals per share. aramco raised, we know, almost $30 billion when it listed in 2019. it hasn't tapped the market since. the second offer comes at the time where the kingdom is under significant pressure to fund all that investing it has been doing to diversify the economy away from oil. this new share offer comes when the spotlight and all of the eyes are on opec which i
saudi aramco and a share sale could rival the record-breaking ipo. we have dan murphy joining us now from dubai with the latest play in the world of oil. many traders, dan, have warmed up to the idea that production cuts may be held constant if not expanded. what is the ophfeel from the mie east right now? >> reporter: dom, this comes at an interesting time with the opec plus meeting getting under way on sunday and at the same time we have big news from the biggest of bill oil. aramco...
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May 7, 2024
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aramco commented on the government's decision to transfer 8% of the ownership. that transfer had no impact on the total number of issued shares, operations or dividend. the government still owns 82% of the company. it reported a performance dividend to be paid in the second quarter. the company expects to pay a total of $124.3 billion in d dividends this year. a critical source of funding for saudi arabia and pif as it looks so layout a road map for the goals of the ambitious 2030 diversification agenda. in dubai, dan murphy, cnbc. >>> still ahead, we look to earnings from disney as the house of mouse looks to diversify the streaming division. that's coming up next. stay with us. my name is ashley cortez and i'm the founder of the stay beautiful foundation when i started in 2016 i would go to the post office and literally fill out each person's name on a label and now with shipstation we are shipping 500 beauty boxes a month it takes less than 5 minutes for me to get all of my labels and get beauty in the hands of women who are battling cancer so much quicker sh
aramco commented on the government's decision to transfer 8% of the ownership. that transfer had no impact on the total number of issued shares, operations or dividend. the government still owns 82% of the company. it reported a performance dividend to be paid in the second quarter. the company expects to pay a total of $124.3 billion in d dividends this year. a critical source of funding for saudi arabia and pif as it looks so layout a road map for the goals of the ambitious 2030...
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May 30, 2024
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share prices for aramco of the initial ipo are down 10% so far this year. we have the chart here next to me. but offering -- again, maybe that is another way for them to boost the amount of capital that they have so they can look to diversify further away from crude. paul: sticking with the oil space, we also heard conocophillips will acquire marathon oil, a $17 billion deal. i was struck by the ceo saying, we weren't necessarily looking for something, the opportunity presented itself. that is quite the impulse buy at $17 billion. could we expect to see more of this? stephen: listen, this has been a pretty -- it's a trend that is happening within the shoe space, people trying to see, how can i expand my footprint in shale, how can i get bolder wells and re-track those? you see that with the likes of chevron and eggs and eggs on especially since they had big winnings, huge profits. a lot of capital after the energy crisis in the last few years when oil prices jumped up above $100 and gas prices as well. looking at how can we use that money? they are essentia
share prices for aramco of the initial ipo are down 10% so far this year. we have the chart here next to me. but offering -- again, maybe that is another way for them to boost the amount of capital that they have so they can look to diversify further away from crude. paul: sticking with the oil space, we also heard conocophillips will acquire marathon oil, a $17 billion deal. i was struck by the ceo saying, we weren't necessarily looking for something, the opportunity presented itself. that is...
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May 31, 2024
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aramco is the world's top oil producer and exporter — and is currently around 80% owned by the saudi government. coming up — trails of glory! the year's best movie promos compete for the golden trailer awards. around the world and across the uk, this is bbc news. to the environment now — and concerns over the sustainability claims made by companies. from today the uk's financial watchdog — the fca — brings in new anti—greenwashing rules, which could see companies fined for making misleading claims about their green credentials. an eu study has found that more than half of environmental claims made about products and services are vague, misleading, or unfounded. consultants compare ethics are warning that some 40% of large firms in the uk could be at risk of being fined for greenwashing. ceo abbie morris has been speaking to the bbc�*s sally bundock about what they can do about it. we use al to check companies' supply—chain data. so no data is publicly available — it's actually what's going on within their supply chain. based on our ai assessment, we can then work out
aramco is the world's top oil producer and exporter — and is currently around 80% owned by the saudi government. coming up — trails of glory! the year's best movie promos compete for the golden trailer awards. around the world and across the uk, this is bbc news. to the environment now — and concerns over the sustainability claims made by companies. from today the uk's financial watchdog — the fca — brings in new anti—greenwashing rules, which could see companies fined for making...
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May 20, 2024
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i would not be surprised, a lot of the energy stuff will be left mainly to aramco and their executives who already have deep ties with japan and with japanese companies. what i would expect to see is four 26 nbs to pursue other investments, both money going into japan but also to see perhaps to kind of bring some japanese investment to saudi arabia. the saudis are really looking to diversify their economy. they would like to manufacture things, for example inside saudi arabia they would love to get toyota to open a plant in saudi arabia and other things. and what saudi arabia has to offer is land, very cheap energy resources, subsidies in terms of that, so it will be interesting to see if there are any mous that are signed as evidence of companies injapan looking to pursue economic investment in saudi arabia. also, there is a saudi money that can be invested in japanese companies, with the pif looking to really diversify their holdings and their investments.— their holdings and their investments. �* ., ., investments. before you go, let's bring — investments. before you go, let's
i would not be surprised, a lot of the energy stuff will be left mainly to aramco and their executives who already have deep ties with japan and with japanese companies. what i would expect to see is four 26 nbs to pursue other investments, both money going into japan but also to see perhaps to kind of bring some japanese investment to saudi arabia. the saudis are really looking to diversify their economy. they would like to manufacture things, for example inside saudi arabia they would love to...
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May 29, 2024
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saudi arabia set to launch a $10 billion aramco sale as well on sunday we had m&a action. and of course we are still weighing the impact of geopolitical risk and looking ahead to the opec-plus meeting. paul: let's get insight now from belita ong. the beige book we got out of the u.s. of the earlier is not too bad. slight modest expansion for u.s. growth and we saw consumer confidence rising in may. that was the first rise we saw they are in four months. we have yields rising antistress for patients. do you think we are going to see another repricing on rates? belita: the fed has been pretty constant in its attitude about when and how it will lower interest rates in the market expectations have moved all over the place. as to the timing and the extent of rate cuts, i think there is so much uncertainty because the fed has not decided what it is going to do and when. that is because given the circumstances today there is no reason to expect them to cut rates. inflation is not where they want it to be any sticky parts of inflation, which are in insurance premiums and rents, ar
saudi arabia set to launch a $10 billion aramco sale as well on sunday we had m&a action. and of course we are still weighing the impact of geopolitical risk and looking ahead to the opec-plus meeting. paul: let's get insight now from belita ong. the beige book we got out of the u.s. of the earlier is not too bad. slight modest expansion for u.s. growth and we saw consumer confidence rising in may. that was the first rise we saw they are in four months. we have yields rising antistress for...
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May 7, 2024
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two giants of the industry — bp and saudi aramco — report a drop in revenue amid lower oil prices. welcome to world business report. we begin in the us, where the troubles facing boeing have become even more serious. the us air safety regulator has opened a new investigation into the aircraft maker after boeing acknowledged that it might not have carried out proper quality inspections on its 787 dreamliner aircraft. it follows another probe earlier this year into the safety of its 737 max planes, one of which suffered a mid flight incident in which part of the wall of the plane blew out. from new york, the bbc�*s michelle fleury has more. boeing's work is once again in the spotlight. america's air safety regulator, the federal aviation authority has opened a new investigation into boeing after the company came forward and said some employees had committed misconduct by claiming certain tests had been completed when in fact they hadn't. the faa is investigating whether boeing completed inspections to confirm adequate bonding and grounding where they wings join the main body of the
two giants of the industry — bp and saudi aramco — report a drop in revenue amid lower oil prices. welcome to world business report. we begin in the us, where the troubles facing boeing have become even more serious. the us air safety regulator has opened a new investigation into the aircraft maker after boeing acknowledged that it might not have carried out proper quality inspections on its 787 dreamliner aircraft. it follows another probe earlier this year into the safety of its 737 max...
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May 7, 2024
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the world's most valuable oil company, saudi aramco, will report its latest results in a few hours. our correspondent in rihyad tells us what to expect. plus: meet the british food producers spicing up their offerings for asian buyers. we begin in the us, where the troubles facing boeing have become even more serious. the us air safety regulator has opened a new investigation into the aircraft maker after boeing acknowledged that it might not have carried out proper quality inspections on its 787 dreamliner aircraft. it follows another probe earlier this year into the safety of its 737 max planes, one of which suffered a mid—flight incident in which part of the wall of the plane blew out. from new york, the bbc�*s michelle fleury has more. boeing's work is once again in the spotlight. america's air safety regulator, the federal aviation authority, has opened a new investigation into boeing after the company came forward and said some employees had committed
the world's most valuable oil company, saudi aramco, will report its latest results in a few hours. our correspondent in rihyad tells us what to expect. plus: meet the british food producers spicing up their offerings for asian buyers. we begin in the us, where the troubles facing boeing have become even more serious. the us air safety regulator has opened a new investigation into the aircraft maker after boeing acknowledged that it might not have carried out proper quality inspections on its...
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May 9, 2024
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yvonne: the big question is do those mega names include the likes of didi and saudi aramco sitting a second listing choosing hong kong as a destination. she did not put emphasis on individual names but certainly there is a lot of matchmaking going on at the capital markets forum. we you have seen this warming of ties between china as well as the middle east. in particular, they want to get more saudi investors into this market to potentially replace u.s. and european investors who have shied away from this market due to geopolitical tensions. how do you get access? csop, they have one saudi etf that launched in november. we will speak to the ceo of the asset manager ding chen in a couple of minutes to talk about how things are going with that etf and what other opportunities are in store on it comes to saudi markets. haslinda: yvonne man will be right back. plenty more ahead. keep it here with us. this is bloomberg. ♪ haslinda: he told cnn that the potential loss of civilian life is quote "just wrong." >> i made it clear that if they go into her office, they haven't yet, if they go
yvonne: the big question is do those mega names include the likes of didi and saudi aramco sitting a second listing choosing hong kong as a destination. she did not put emphasis on individual names but certainly there is a lot of matchmaking going on at the capital markets forum. we you have seen this warming of ties between china as well as the middle east. in particular, they want to get more saudi investors into this market to potentially replace u.s. and european investors who have shied...
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May 30, 2024
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spoke in the past, sure i think will stay at this level in the stock sale, let's forget property saudi aramco is 82% owned by the saudi government a 2 trillion-dollar valuation on the equity of this company. 100 billion-dollar, i'm sorry a 10 billion-dollar is a drop in the bucket overall with respect to the value and we both know for sally this is a major pivot in terms of transformation of the economy to a.i. in tourism and more to sports. they're looking at the ipo market or stock listing seeing that is healthy and a lot of recent ipos remain above the issuance price, therefore it's a good time to sell stock. maria: tapping into the strength, no problem, good to see you. thank you so much. david traveled joining us on markets. we'll be right back. did i read this? did i get eggs? where are my keys? memory and thinking issues keep piling up? it may be due to a buildup of amyloid plaques in the brain. visit morethannormalaging.com craig here pays too much for verizon wireless. so he sublet half his real estate office... [ bird squawks loudly ] to a pet shop. meg's moving company uses t-mobil
spoke in the past, sure i think will stay at this level in the stock sale, let's forget property saudi aramco is 82% owned by the saudi government a 2 trillion-dollar valuation on the equity of this company. 100 billion-dollar, i'm sorry a 10 billion-dollar is a drop in the bucket overall with respect to the value and we both know for sally this is a major pivot in terms of transformation of the economy to a.i. in tourism and more to sports. they're looking at the ipo market or stock listing...
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May 9, 2024
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executive has made all people trips to saudi arabia to try and lure some investors or even the saudi aramco second listing to this destination. so certainly there is a lot going on. the timing is pretty opportune as well. given the fact hong kong has been dealing with a pretty depressed ipo market for the past two years. they are going to need new listings in the definitely want some big names as well. and the saudis are certainly businesses ended delegates that are here are looking for more of that foreign ownership of saudi assets as well. they're looking to gain more exposure to an asia investor base. while this is all beneficial to hong kong we have to ask about the ipo pipeline. the new hong kong exchange ceo will be joining us. we are going to talk more about the measures we heard from the csrc last month to talk about encouraging firms to list here in the city. what does that exactly mean? how big of a boost cannot give the city here? haidi: how can hong kong investors gain exposure to saudi assets? yvonne: there is one etf right now. the csop, saudi etf that was launched back in nov
executive has made all people trips to saudi arabia to try and lure some investors or even the saudi aramco second listing to this destination. so certainly there is a lot going on. the timing is pretty opportune as well. given the fact hong kong has been dealing with a pretty depressed ipo market for the past two years. they are going to need new listings in the definitely want some big names as well. and the saudis are certainly businesses ended delegates that are here are looking for more of...
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May 13, 2024
05/24
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welcome to wrap our college for today's i'm conference room me featuring susquehanna university and your aramco college and it echoes kind of a drowning voice and sound it's around me i tried to call myself and occasionally i'll do a prayer to tell god. that you know, whatever happens isn't his plan i pray that gives me the strength to do this hi once i'm in that race, it's just i gotta go and when mom let me so no matter what, i will always try my hardest, i'm just afraid for the reception that it will get if i try my hardest and 60 and i was afraid that if i was able to win all of my success would be discredited because i was trans after transferring from the men's team over to the women's megan cortes fields smashed ramp up on college has hundred yard butterfly record like leah thomas gets into the women's category and starts blowing records away and the woman here you can second, i to just accept it summing has definitely become a battleground for this disagreement i'm trans people have existed since the beginning of time, but we win and it becomes an issue i am bianna happy that i'm able t
welcome to wrap our college for today's i'm conference room me featuring susquehanna university and your aramco college and it echoes kind of a drowning voice and sound it's around me i tried to call myself and occasionally i'll do a prayer to tell god. that you know, whatever happens isn't his plan i pray that gives me the strength to do this hi once i'm in that race, it's just i gotta go and when mom let me so no matter what, i will always try my hardest, i'm just afraid for the reception...
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May 28, 2024
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. >>> and saudi arabia is looking for a sale of aramco in one of the biggest stock deals ever it has a 90% stake and relies on the payouts heavily. >>> officials say 12 people were hurt during turbulence on the qatar flight from doha to dublin over the weekend this comes days after 100 passengers were hurt when the singapore airlines flight hit severe turbulence. >>> tesla shareholders are urged to reject the elon musk pay package by glass lewis the $46 billion in pay could dilute the holdings in tesla and in the xai startup is boosted to $6 billion. >>> and the one-time bond king, bill gross, says deficits will be pushed higher if donald trump is reelected. >>> and you see gamestop shares up 100% in the last month. >>> here is what to watch this week a busy week of retail and tech earnings and including ten s&p 500 companies and one dow come point is salesforce. we get a string of housing reports and the latest fed beige book tomorrow. >>> let's get a check of futures as we prepare to kickoff the week futures in the green across the board. the dow would open up slightly higher nasda
. >>> and saudi arabia is looking for a sale of aramco in one of the biggest stock deals ever it has a 90% stake and relies on the payouts heavily. >>> officials say 12 people were hurt during turbulence on the qatar flight from doha to dublin over the weekend this comes days after 100 passengers were hurt when the singapore airlines flight hit severe turbulence. >>> tesla shareholders are urged to reject the elon musk pay package by glass lewis the $46 billion in pay...
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May 30, 2024
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saudi arabia preparing to formally launch a secondary offering of aramco shares as soon and sunday. the deal could raise more than $100 billion and rank among the largest of its kind in recent years. the government said informal interest from investors in the middle east and europe already exceeds that amount. a check on salesforce, down more than 16% in the premarket on the sales outlook that missed estimates. they expect single-digit sales growth in the current quarter, the lowest in the two decade history as a public company where the outlook is feeling investor concern about its ability to stay relevant as the rest of the industry shifts towards ai tools. that is your bloomberg brief. jonathan: if you missed this earnings season, you get punished big time, don't you? lisa: especially if you look like your beauty as you are going to be a loser in the ai. jonathan: up next, a miscalculation at american airlines. >> we didn't find a good revenue framework and clearly the story has gone awry with the chief commercial officer leaving. jonathan: that conversation is just around the co
saudi arabia preparing to formally launch a secondary offering of aramco shares as soon and sunday. the deal could raise more than $100 billion and rank among the largest of its kind in recent years. the government said informal interest from investors in the middle east and europe already exceeds that amount. a check on salesforce, down more than 16% in the premarket on the sales outlook that missed estimates. they expect single-digit sales growth in the current quarter, the lowest in the two...
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May 20, 2024
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you remember, charles, in february that was right after the saudis came out directed saudi aramco to hold production at 12 million barrels per day. previous guidance was 13 million barrels. so with, if you look at schlumberger, 80% of their revenues are upstream capital expenditures and they have about 30% exposure to the middle east and asia. so as a result of that we sold slb and we actually took those proceeds and bought taiwan semi. taiwan semi is up 20% whereas slb is up a little less than 2% over that same period of time. charles: right. i got 30 seconds to go, i share with the audience you like american express, microsoft and amazon. these are buy and holds for you right now? >> they are. charles: great work, elizabeth. thank you very much. talk to you again soon. >> thank you, charles. charles: all right, folks, s&p 500 has been on a record pace. we set a number of record finishes this year. rob luna says he sees more upside. in fact significant upside. he is here with the names you need to be a part of to ride that wave. we'll be right back. ♪. [ applause ] the day you get
you remember, charles, in february that was right after the saudis came out directed saudi aramco to hold production at 12 million barrels per day. previous guidance was 13 million barrels. so with, if you look at schlumberger, 80% of their revenues are upstream capital expenditures and they have about 30% exposure to the middle east and asia. so as a result of that we sold slb and we actually took those proceeds and bought taiwan semi. taiwan semi is up 20% whereas slb is up a little less than...
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May 22, 2024
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you may remember a busy 2019 with the aramco attacks by iran, of the shipping attacks in the persian gulf. starting in the spring and going into the summer of that year. when shinzo abe prime minister starting in late 2020 once the winds began to shift was going to come into office. iran move from incremental escalation to significant escalation. so testing and facing out how far they could get away with in response to the u.s. pressure policy which was when donald trump left the deal, major escalation happened under diplomacy, of the major escalation happened under restraint. that's one of the challenges of dealing with iran. while no one can doubt in good faith the biden administration has and try to play cap on the nuclear program and tamp down conflict it -- it's persistent outreach and willingness to stay at the table despite whatever game the iranians have been playing has ended up underwriting the next cycle of escalation and that's why historic threats the they have made back in 2011 and 2012 about enriching to 60% purity which is what they have today and they claim they need
you may remember a busy 2019 with the aramco attacks by iran, of the shipping attacks in the persian gulf. starting in the spring and going into the summer of that year. when shinzo abe prime minister starting in late 2020 once the winds began to shift was going to come into office. iran move from incremental escalation to significant escalation. so testing and facing out how far they could get away with in response to the u.s. pressure policy which was when donald trump left the deal, major...
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May 30, 2024
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bloomberg reporting latest wednesday saudi aramco close to a huge $10 billion sale. into this goldman note, joe, you seem hot on. goldman sachs, two days ago, coming out long-term projection raising their global oil demand growth to 108.5 million barrels a day by the year 2030. there we go. up 2.5 million barrels a day from the prior estimate, and goldman, pretty smart guys, see significant demand acceleration until 2034, but then, joe, this is it. a long plateau. meaning they don't see any drop in global oil demand for years to come. so goldman's right. demand is going to go up considerably for about 6 million barrels a day from where we are now and then stay there for years to come. part of that is they're slowing ev adoption theory, where they see kind of ev adoption spike. everybody, early adopters who wanted one maybe already has bun. they're growing slightly, but not enough to put a major dent in global oil demand long term, because, joe, as we know, oil and we're learning. a lot of people thought use oil for gasoline. that's kind of -- no! oil demand is half o
bloomberg reporting latest wednesday saudi aramco close to a huge $10 billion sale. into this goldman note, joe, you seem hot on. goldman sachs, two days ago, coming out long-term projection raising their global oil demand growth to 108.5 million barrels a day by the year 2030. there we go. up 2.5 million barrels a day from the prior estimate, and goldman, pretty smart guys, see significant demand acceleration until 2034, but then, joe, this is it. a long plateau. meaning they don't see any...