The rare financial disclosure coincides with renewed interest in a potential initial public offering by Saudi Arabia’s state oil producer, and bolsters its status as the world’s most profitable company.
Aramco has been more public about its finances recently as Saudi officials consider whether to list shares in the company in order to fund projects that could wean the economy off its addiction to oil.
An IPO that was planned for 2018 never materialized. A lack of transparency over the size of the country’s energy reserves had caused skepticism about the potential sale and the value of Aramco.
2. Hong Kong protests: As protests in Hong Kong escalate, the ramifications for businesses and travelers are growing.
The Hong Kong International Airport Authority has canceled all flights scheduled to depart the major travel hub Monday evening because of a mass demonstration. Flights bound for Hong Kong that have not yet taken off were also canceled.
An internal memo sent by CEO Rupert Hogg to staff on Monday warned that the carrier has “has a zero tolerance approach to illegal activities.”
The company said over the weekend that it had made a $875 million investment in Authentic Brands, the company that owns Sports Illustrated, Nine West and Juicy Couture. That makes it the company’s largest shareholder.
The investment is the first for BlackRock’s new private-equity fund, Long Term Private Capital, which the company said in April was ready to start investing after securing $2.75 billion.
The Dow is set to open down 100 points, or 0.4%. The S&P 500 and the Nasdaq are set to fall a similar amount.
Monday — China vehicle sales; Tencent Music ( and Saudi Aramco earnings )
Tuesday — Germany inflation rate; US inflation; JD.com ( and )Tilray ( earnings )
Wednesday — China retail sales; Germany and Europe GDP; UK inflation; Luckin Coffee (, )Macy’s ( and )Canopy Growth ( earnings )
Thursday — US retail sales; Alibaba (, )JCPenney (, )Walmart ( and )NVIDIA ( earnings )
Friday — US housing starts and building permits