10 things you need to know before Opening Bell

FILE PHOTO: An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018.  REUTERS/Ahmed Jadallah/File Photo   FILE PHOTO: An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminalReuters

Here is what you need to know.

1. Oil giant Saudi Aramco has struck a $15 billion deal with Asia's richest man for a piece of the world's biggest refinery. The world's biggest crude oil producer is purchasing 20% of Reliance Industries chemical and refining business, while Reliance has agreed to buy 500,000 barrels of its oil a day.

2. Lawyers for Epstein's alleged victims say they plan to sue the disgraced financier's estate following his death. Los Angeles attorney Lisa Bloom, who represents two of the women, told Reuters "we intend to promptly file those civil claims" having held off suing while federal prosecutors pursued sex trafficking charges against Epstein.

3. Global banks are cutting 30,000 jobs this year. It's a sign the banking crisis is only getting worse. Citigroup, Barclays and Deutsche Bank have all announced cuts this year.

4. Bayer gets help from Donald Trump as US regulators veto warnings its Roundup weedkiller causes cancer. The Trump administration is refusing to approve product labels warning glyphosate - the active ingredient in Roundup - is a carcinogen.

5. Coach and Versace sparked fury in China by selling t-shirts that listed Hong Kong as a separate country. Tensions between China and Hong Kong have been high due to the protests this year.

6. National security adviser John Bolton stressed to British officials on Monday that Washington will support a US-UK free trade agreement. Bolton is in the UK for two days for talks with British government officials.

7. Here are the 5 biggest questions facing WeWork as it prepares for its IPO. Is the office-space startup a tech company, and how will it fare in a recession?

8. Global stocks are sliding today but Asia closed on the up. US futures were sliding, with the S&P 500 (-0.7%) and Nasdaq (-0.8%) down. Europe opened lower with the Dax (-0.2%) and Euro Stoxx 50 (-0.2%) both dropping. Asian closed higher, with the Nikkei 225 (+0.4%), Shanghai Composite (+1.5%) rising but the Hang Seng (-0.3%) down.

9. More earnings are out. Stars Group, owner of PokerStars, is releasing its second-quarter earnings.

10. There is some interesting data in the docket this week. The monthly budget statement is today's highlight.

{{}}
Subscribe to whatsappSubscribe to whatsapp
Add Comment()
Comments ()
X
Sort By:
Be the first one to comment.
We have sent you a verification email. This comment will be published once verification is done.