Aramco shares rise sharply

Saudi Aramco’s stock rose sharply as the world’s biggest share listing got underway in Riyadh, rising 10% above the initial public offering price.   Last week the oil giant, which produces more than a tenth of global crude supply, raised $25.6bn.   Saudi Arabia’s royal family is privatising assets as…

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US jobs growth jumps in November

The US economy added the largest number of jobs for 10 months in November, confounding economists’ expectations of a slowdown.   Official data showed employers added 266,000 jobs last month, while the jobless rate dipped to 3.5% from 3.6%.   The growth was helped by striking GM workers returning to…

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Plastic ban introduced at Atlanta Airport, USA

Atlanta City Council has approved a ban of non-compostable single-use plastic bags, polystyrene and plastic straws at Atlanta Airport.   Atlanta City Council has approved legislation prohibiting the city or its contractors from purchasing, acquiring or making available to the public non-compostable single-use plastic bags, polystyrene and plastic straws at…

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Daimler to cut 10,000 jobs worldwide

Daimler, the German carmaker that owns Mercedes-Benz, has said it will shed at least 10,000 jobs worldwide as it seeks to fund the switch to electric cars.   Daimler personnel chief Wilfried Porth told journalists the number of jobs lost would be “in the five figures”.   The move comes…

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