Good morning! Here’s what you need to know on Friday.
1. Asia has experienced another chaotic session of trading, with equities, commodities, and currencies all swinging wildly in line with movements in Chinese stocks. China’s so-called “national team” have likely been active in the market.
2. Saudi Arabia’s state-owned oil behemoth could be coming to the public markets. According to a report in The Economist, Saudi Aramco, the state-owned company that is the world’s largest oil producer, could soon be listed on a public exchange.
3. Volkswagen may be prepping a buyback of thousands of its diesel-engine vehicles in the US. The plan is one of several options being discussed following the emissions scandal that rocked the company last year.
5. California Gov. Jerry Brown declared a state of emergency over a massive natural-gas leak that has been spewing methane and other gases into a LA neighbourhood for months, sickening residents and forcing thousands to evacuate.
6. Markets are approaching a meltdown similar to the global financial crisis in 2008, George Soros, one of the world’s most successful investors, said. Soros on Thursday warned that China had “a major adjustment problem.”
7. Police in Paris shot and killed a knife-wielding man carrying an Islamic State emblem after he reportedly attacked officers while wearing a fake explosive vest. The incident took place on the one-year anniversary of the Charlie Hebdo terrorist attacks.
8. Real-estate mogul Donald Trump ended his Thursday night campaign rally by calling for an end to so-called gun-free zones on schools and US military bases. “I will get rid of gun-free zones on schools — you have to — and on military bases on my first day. It gets signed my first day,” the Republican presidential front-runner told supporters.
10. With extremists finding fertile ground for recruitment online, the White House is dispatching top national security officials to Silicon Valley to seek the tech industry’s help in disrupting the Islamic State group and other terrorists.
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