Wed. Sep 23rd, 2020

Saudi Aramco IPO: Oil giant nears $2trn valuation despite climate fears – business live

Aramco, the world’s biggest Co2 producer, is now world’s largest listed company after floating today

11.44am GMT

Aramco has broken the US and China’s grip on the chart of biggest companies, going straight in at number one.

Most of the rest of the top 10 are tech stocks, along with Wall Street giant JP Morgan and Warren Buffett’s Berkshire Hathaway group.

11.38am GMT

Aramco is now TWICE as valuable as Amazon, the e-commerce giant (currently worth $862bn).

And this morning, Amazon’s efforts to take a stake in food delivery group Deliveroo have taken a knock – regulators think the plan would hurt customers.

Related: Amazon investment in Deliveroo could lead to higher prices, says CMA

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