Financial Daily Dose 8.12.2019 | Top Story: Saudio Aramco Releases Financial Ahead of Planned IPO

Demolition of an old house
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Saudi Aramco’s mega IPO plans are back on, and while valuation and other stumbling blocks remain, the kingdom is hoping to raise billions via the public offering as early as next year – WSJ and Bloomberg

Russian authorities are opening an antitrust probe into Apple’s recent moves restricting and removing parental control apps from its App Store after the company “released its own competing service, the latest sign of the growing scrutiny of Silicon Valley’s power” – NYTimes

Masa Son’s dreams of a Soft Bank-supported solar power empire with major outposts in Saudi Arabia and India is in jeopardy, with current power output way below projected levels – WSJ

Bookseller Barnes & Noble is hoping that a magic touch from across the pond—in the form of James Daunt’s leadership—can help the company’s turnaround as it did for Waterstones, Britain’s largest bookstore chain – NYTimes

A sobering (for many of us, at least) look at the current state of Big Law life – WSJ

The Second Circuit has shut down defendants’ attempt to use the McDonnell Rule to prosecutions under the Foreign Corrupt Practices Act. McDonnell requires “prosecutors to prove that a bribe had been paid in exchange for an ‘official act’ in cases involving bribes paid to U.S. officials,” and the panel said it was too narrow to apply to the FCPA, which was written to “target a broader set of bribery goals” – Law360

CBS and Viacom reportedly worked through the night in hopes of giving us news later today of another merger between the two former bedfellows – Bloomberg

Denmark’s showing the world how to make going green the centerpiece of its economy of the future – Bloomberg

Natty Light (and its parent AB InBev) wants a piece of the Summer of Hard Seltzer, and it’s got the college set in its sights – WSJ

This morning in “we’ll believe it when we see it” news, the Times gives us “How Facebook is Changing to Deal With Scrutiny of Its Power.” Think fewer acquisitions and more “brought to you by Facebook” rebranding though just as much Zuck as ever – NYTimes

No less an authority than the IMF begs to differ with recent White House/Treasury Dep’t accusations of currency manipulation against China – MarketWatch

Let’s hear it for public libraries, institutions that—at their best—are palaces for the people uniquely tailored to their particular environment and that, despite being written off as too analog to still matter, are having something of a renaissance thanks to some impressive architectural vision – NYTimes

MDR

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