Saudi Aramco’s profit drops 12%. It’s still making more money than any other company

London (CNN Business)Saudi Aramco said Monday that its profit dropped 12% in the first half of its financial year to $46.9 billion due to weaker global oil prices. An IPO that was planned for 2018 never materialized. A lack of transparency over the size of the country’s energy reserves had caused skepticism about the potential sale and the value of Aramco. But plans for a public listing as early as next year are now being accelerated following positive investor reaction …

Confused investors keep buying FORD, thinking it’s Ford

New York (CNN Business)Just about every time Ford Motor makes big news, some investors mistakenly buy shares of Forward Industries, a tiny maker of carrying cases for medical monitoring systems and other electronic devices. “Most investors don’t reverse the incorrect trade until a week or more,” said Andrei Nikiforov, assistant professor of finance at Rutgers University-Camden. “That’s how long it takes for the stock price to return to normal, probably once investors realize they made a mistake.” Nifkorov wrote a …

How bad is the trade war? This week will provide some clues

London (CNN Business)1. State of play: The trade fight between the United States and China is getting worse. This week, investors could get a reality check on what that means for economies and companies. “Looking ahead, the outlook for German exporters is clearly in the hands of the United States and China,” said Carsten Brzeski, ING’s chief economist in Germany. Industrial production and GDP growth for the eurozone will be published Wednesday. Big name corporate earnings could also shed light …

Uncovered: the 200m theme park, the businessman and the missing millions

A Guardian/ITV News undercover investigation raises concerns about Gavin Woodhouse, who is behind project endorsed by Bear Grylls A new 200m outdoor adventure park, which is being launched with the support of the celebrity adventurer Bear Grylls, is being fronted by a financier who has raised millions of pounds from private investors and whose businesses have a multimillion-pound black hole. The Afan Valley Adventure Resort in south Wales was granted owned and run by Gavin Woodhouse, a businessman who previously …

How low can bond yields go?

New York (CNN Business)The market thinks it’s a lock that the Federal Reserve will cut interest rates at its next meeting at the end of July. The cut is expected largely because of concerns that the global economy is slowing in the midst of the US trade war with China and other countries. Diczok will be joining CNN Business correspondent Eleni Giokos on CNN Business’ “Markets Now” live show Wednesday to talk about the bond market and the Fed. Because …

Just like the 1930s, this trade war has the potential to turn nasty

Echoes of that decade are getting uncomfortably loud as Trump imposes tariffs and the eurozone devalues its currency A trade war followed by a currency war. Tariffs used as a protectionist weapon followed by attempts to secure a competitive advantage by exchange rate manipulation. That was the story of the 1930s and, the way things are shaping up, it could easily be the story of the 2020s as well. Consider the historical parallels. In 1930, the US Congress passed the …