Monday, November 06, 2017

Today's Headlines

  • Saudi Corruption Purge Snares $33 Billion of Net Worth in Riyadh. Crown Prince Mohammed bin Salman’s crackdown on some of Saudi Arabia’s richest and most powerful men has put $33 billion of personal wealth at risk. The stunning series of arrests has implicated three of the country’s richest people, including Prince Alwaleed bin Talal, who’s No. 50 on the Bloomberg Billionaires Index ranking of the world’s 500 richest people, with $19 billion. Also being held are the kingdom’s second- and fifth-wealthiest people, as well as a travel-agency mogul and Bakr Binladin, a scion of a one of the country’s biggest construction empires.
  • CIC Is Said to Join Goldman for $5 Billion U.S. Investment Fund. China’s sovereign wealth fund has tapped Goldman Sachs Group Inc. to help invest as much as $5 billion in the U.S. manufacturing industry, according to people briefed on the matter. Goldman Sachs will run a newly established private equity fund and invest some money alongside China Investment Corp., said the people, who asked not to be identified because the effort hasn’t been publicly announced. The fund is expected to be unveiled this week, when Goldman Sachs Chief Executive Officer Lloyd Blankfein will be in China as part of President Donald Trump’s visit, one of the people said.
Wall Street Journal:

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