New York Times
Investment bankers the world over are salivating at the
If it went public, Saudi Aramco, the state-owned oil producer in Saudi Arabia, could generate a market value the equivalent of 12 Apples, or about $7 trillion. And that's based on a 2010 estimate.
Saudi Aramco's state oil reserves of 261 billion barrels is at least 10 times larger than ExxonMobil's. And ExxonMobil's market value is about $320 billion.
The Times notes that Saudi Aramco has had past banking relationships with JPMorgan Chase, Citigroup and Deutsche Bank.
Too big to fail, indeed.
The Times has a short
Kelleher, 58, was born in Ireland, graduated from Oxford with a degree in history and is a chartered accountant. He's worked most of his career at Morgan Stanley, primarily in the areas of trading and capital markets. His most recent positions at Morgan Stanley were president of its institutional securities division and CEO of Morgan Stanley International. He's been based in London and it's unknown if he'll move to New York, now that he's CEO-in-waiting.
Financial Times
Banks are
Elsewhere...
CBS News: Millennials have more education and, on average, more money than their forebears. So does that mean they're better at managing their own finances? Nope, says PricewaterhouseCoopers.
U.S. consumers born between the early 1980s and the mid-1990s are
"There's an appetite for faster money quicker without thinking of the longer-term ramifications," said Shannon Schuyler, head of corporate responsibility at PwC.
Perhaps PwC's research is simply a reflection of the
But PwC does toss out lots of statistics to buttress its point, based on studies done at George Washington University. About 42% of millennials used payday lenders or other types of nonbank providers typically classified as predatory, or at least charging excessively high interest rates. And only about 24% of millennials can demonstrate a basic level of financial literacy.
International Business Times: Citigroup's Citibank is
St. Louis Business Journal: MasterCard has
Consumers can order items directly from a Samsung smart refrigerator and have them delivered to their homes. (The article does not mention whose refrigerator, nor where it's located.)
MasterCard Labs, the credit card network's in-house R&D operations in the St. Louis area, developed the app.
The Street: Maybe it's time for some people to back away from the ledge and put away the razor wire. After all, it's only been a short time since the Fed raised interest rates.
But