Tag: Saudi Arabia

Oil Prices Dip Into Negative Territory As Market Crashes | Roadshow

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The US oil market witnessed history as the price dived under $0 a barrel for the first time as the coronavirus pandemic bites. US oil prices crashed below $0 a barrel on Monday and spiraled into negative territory for the first time ever. In a historic crash, oil futures opened at their lowest level since 1983. With hundreds of millions of people around the world staying at home to stop the spread of COVID-19, travel by car or plane is nearly nonexistent. Factor in a major lag in manufacturing and…

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A Private Tesla Backed By Saudi Arabia Might Not Be As Far-Fetched As You Think | TechCrunch

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This week the business and tech world was stunned when Elon Musk hinted on August 7, via Twitter of course, that he wanted to take Tesla private. The estimated price tag for such a move is commonly put at up to $72 billion. Shortly after that no ‘white knights’ appeared and Tesla’s shares plummeted. But today, Bloomberg came out with a new report which might well fan the flames of speculation on Monday. Its story has sources which say that Saudi Arabia’s sovereign wealth fund (called the Public Investment Fund…

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