For the first time in two years, Jeff Bezos is no longer the richest person in the world. : For the first time in two years, Jeff Bezos is no longer the richest person in the world. But the new No. 1 is a familiar name. Bill Gates is back on top, according to the Bloomberg Billionaires Index, with a fortune of $110 billion as of Friday's market close. Bezos is just below, at $109 billion.
Wayve, a U.K. startup that's developing AI that teaches cars to drive using reinforced learning, has raised $20 million in a series A round of funding.
Northzone, the European VC firm that's probably best-known for being an early backer of Spotify, has raised a new $500 million fund, which it claims was oversubscribed and will reach its final close imminently. Dubbed "Northzone IX," the new fund pretty much represents business as usual for Northzone and will be used to invest primarily [...]
The company, like much of Corporate America, has not made good on its promised investment surge from President Trump's 2017 tax cuts.
DUBAI, United Arab Emirates -- Saudi Aramco is looking to raise up to $25.6 billion in its initial public offering planned for December, overtaking the $25 billion record set by China's Alibaba Group Holding in 2014. Officially known as Saudi Arabian Oil Co., the state-run petroleum and gas company announced Sunday that it plans to sell 1.5% of its shares for 30 to 32 Saudi riyal apiece on the Saudi Stock Exchange. The price puts its valuation between $1.6 billion and $1.7 billion, making it the most valuable publicly traded company in the world over Apple and Microsoft.
President and CEO of Saudi Aramco Amin Nasser (left) and Aramco's chair Yasir al-Rumayyan attend a press conference in the eastern Saudi Arabian region of Dhahran on November 3, 2019. | AFP via Getty Images The oil company that made Saudi Arabia rich is going public. Some say the timing couldn't be worse. Pop quiz: What's the most profitable company in the world? Apple? Google? Nope. Those two don't even come close. The answer is Saudi Arabia's state oil company, Aramco. In 2018, Saudi Aramco made $111 billion dollars in profit. The second-most profitable company, Apple, made $60 billion that year.
Max Verstappen won a thrilling Brazilian Formula One Grand Prix for Red Bull on Sunday with Pierre Gasly a surprise second for Toro Rosso.
The Asian Infrastructure Investment Bank (AIIB) lists delays in project implementation and the resultant cost overruns as the biggest concerns when it comes to funding India. The Beijing-headquartered multilateral bank has USD 3 billion exposure to India which has a lot of appetite for credit and will continue to be the largest borrower in the near future. The bank was established in 2016 to fund developmental projects as part-time of which it takes both equity and debt interests in projects. Among the close to 60 member countries, India is the second-largest shareholder after China.
The world's largest oil company is providing more data for potential investors in its initial public offering, which is expected next month.