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BlackRock Forges a New Bond With Big Oil [1]

['Andrew Ross Sorkin', 'Ravi Mattu', 'Bernhard Warner', 'Sarah Kessler', 'Michael J. De La Merced', 'Lauren Hirsch', 'Ephrat Livni', 'More About Andrew Ross Sorkin', 'More About Ravi Mattu', 'More About Bernhard Warner']

Date: 2023-07-18

Mr. Fink backed out of the kingdom’s Future Investment Initiative conference in 2018 after the murder of the Saudi dissident and journalist Jamal Khashoggi, but he returned the next year and has since defended doing business with the country.

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HERE’S WHAT’S HAPPENING

Extreme heat is bearing down on the Northern Hemisphere. Parts of Europe and the southern United States are expected to experience record-breaking highs, with consequences for human health and economic activity. As China faces sweltering heat, John Kerry, the U.S. climate envoy, met with the country’s premier to urge cooperation in fighting climate change.

Microsoft and Activision reportedly plan to extend a deadline for their deal. Microsoft’s $70 billion takeover of the video game maker isn’t poised to close on Tuesday as expected, as the two negotiate a settlement with Britain’s antitrust regulator, according to Bloomberg. The Competition and Markets Authority, which had previously moved to block the transaction, has set an Aug. 29 deadline for the talks.

Senator Elizabeth Warren urges the S.E.C. to investigate Tesla. The Massachusetts Democrat called on the agency to examine potential “conflicts of interest, misappropriation of corporate assets” and more, citing reports about Elon Musk bringing over Tesla employees to work at Twitter after he bought the social network. She suggested that the move may have violated employment laws and wasn’t properly disclosed to investors.

U.S. companies win some relief from a global tax deal. Under new rules negotiated by the Treasury Department, American businesses now have until 2026 before other countries can start imposing new levies on corporations deemed to have paid too little in the United States. The revised agreement offers more certainty for companies, but the Biden administration is still struggling to conform to the pact to avoid losing out on taxes.

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[1] Url: https://www.nytimes.com/2023/07/18/business/dealbook/blackrock-aramco-nasser-board.html

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