Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th


Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th
Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


Toys R Us built a kingdom and the world's biggest toy store. Then, they lost it.

The toy emporium that Charles P. Lazarus envisioned has been reduced to dusty floors and empty shelves.

Much has been said about the demise of the toy empire, which this week announced its plan to liquidate. There have been fingers pointed at corporate raiders, Amazon and big-box stores. All contributed to its undoing.

Ultimately, though, Toys R Us’ collapse is a story of loyalty run dry. The store in its early days fostered devotion from customers and toymakers. In the end, it lost hold on both.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. It didn’t invest in its stores, even as it was adding to the fleet, leaving it vulnerable when new competition moved in.

The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. By 1978, he had created a toy superstore large enough to become a public company.

In its heyday in the 1980s and 1990s, it was the most important toy store in the country, if not the world. Its strength grew as competitors Kiddie City and Child World went out of business.


Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


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Crown Prince Mohammed bin Salman is here to stay, Saudi royal family member says

Intelligence officials and analysts say the operation to kill Khashoggi, who wrote critically of the crown prince for The Washington Post, could not have happened without Prince Mohammed’s knowledge. The kingdom, which has offered several conflicting accounts of the killing, denies the crown prince had any involvement. The crown prince embarked late Thursday on his first foreign tour since the Oct. 2 killing with a visit to the United Arab Emirates. Trump insists there’s not enough evidence to b


Intelligence officials and analysts say the operation to kill Khashoggi, who wrote critically of the crown prince for The Washington Post, could not have happened without Prince Mohammed’s knowledge. The kingdom, which has offered several conflicting accounts of the killing, denies the crown prince had any involvement. The crown prince embarked late Thursday on his first foreign tour since the Oct. 2 killing with a visit to the United Arab Emirates. Trump insists there’s not enough evidence to b
Crown Prince Mohammed bin Salman is here to stay, Saudi royal family member says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-24  Authors: win mcnamee, getty images
Keywords: news, cnbc, companies, khashoggi, killing, family, trump, kingdom, prince, royal, crown, saudi, stay, intelligence, summit, bin, mohammed, member, turki, salman


Crown Prince Mohammed bin Salman is here to stay, Saudi royal family member says

A prominent Saudi royal said Saturday that whether or not heads of state gathered in Argentina next week for the Group of 20 summit warmly engage with Crown Prince Mohammed bin Salman, he is someone “that they have to deal with.”

Prince Turki al-Faisal told The Associated Press the killing of Saudi writer Jamal Khashoggi in the kingdom’s consulate in Istanbul last month is “an unacceptable incident that tars and mars the long record of Saudi Arabia’s own standing in the world.”

“We will have to bear that. It’s not something that should not be faced. And we do face it,” he said.

Intelligence officials and analysts say the operation to kill Khashoggi, who wrote critically of the crown prince for The Washington Post, could not have happened without Prince Mohammed’s knowledge. The kingdom, which has offered several conflicting accounts of the killing, denies the crown prince had any involvement.

The crown prince embarked late Thursday on his first foreign tour since the Oct. 2 killing with a visit to the United Arab Emirates. He’s expected to visit other Mideast countries before going to Buenos Aires Nov. 30 for the start of the two-day G-20 summit, where he’ll come face to face with world leaders.

President Donald Trump and Turkish President Recep Tayyip Erdogan, who has kept international pressure mounting on the kingdom, are among those expected to attend.

“Whether the leaders in that summit will warmly engage with the crown prince or not, I think all of them recognize that the kingdom as a country and King Salman and the crown prince are people that they have to deal with,” the prince said.

He said Saudi Arabia will continue to play a role on the world stage and that Trump’s statement of support for Saudi Arabia recognizes the importance of the kingdom.

Trump insists there’s not enough evidence to blame the crown prince for Khashoggi’s killing, despite a U.S. intelligence report’s assessment to the contrary. Trump says the kingdom is an important ally that has helped to lower oil prices.

“I thought President Trump was expressing what he felt was in the interest of the United States. He emphasized the strategic relationship between the two countries in the same statement and how Saudi Arabia has been helpful in many instances — not just oil,” said Prince Turki.

The prince also firmly dismissed the U.S. intelligence assessments that the crown prince had ordered Khashoggi’s killing, saying these same intelligence bodies had a “remarkably flawed assessment” in 2003 in the lead up to the U.S. invasion of Iraq.

“So we don’t take it as being, as I said, divine revelation,” he said of the U.S. intelligence reports.

Prince Turki, who led Saudi intelligence for more than two decades and served as ambassador to the U.S. and Britain, had links with Khashoggi before the writer became an outspoken government critic. Khashoggi was reportedly an adviser to Prince Turki at one point and supported by the royal during his brief stints as editor-in-chief of Saudi newspaper al-Watan. The prince’s father is the late King Faisal and his brother is Prince Khalid al-Faisal, the governor of Mecca.

Prince Turki said that reports of discontent within the ruling Al Saud family over the crown prince’s rapid rise to power do not reflect the “extraordinary support” that King Salman and his son enjoy.


Company: cnbc, Activity: cnbc, Date: 2018-11-24  Authors: win mcnamee, getty images
Keywords: news, cnbc, companies, khashoggi, killing, family, trump, kingdom, prince, royal, crown, saudi, stay, intelligence, summit, bin, mohammed, member, turki, salman


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Trump’s quest to drive down oil prices turns the screws on American drillers

President Donald Trump is rooting for oil prices to fall even further after a stunning plunge over the last seven weeks. This year’s oil prices rally has swiftly collapsed as fears of potential oil shortages give way to forecasts that crude supply will swamp demand next year. The sell-off is pushing U.S. crude prices to levels that may impact drillers’ spending plans and their ability to return cash to shareholders. On Wednesday, the president took to Twitter to praise Saudi Arabia for hiking ou


President Donald Trump is rooting for oil prices to fall even further after a stunning plunge over the last seven weeks. This year’s oil prices rally has swiftly collapsed as fears of potential oil shortages give way to forecasts that crude supply will swamp demand next year. The sell-off is pushing U.S. crude prices to levels that may impact drillers’ spending plans and their ability to return cash to shareholders. On Wednesday, the president took to Twitter to praise Saudi Arabia for hiking ou
Trump’s quest to drive down oil prices turns the screws on American drillers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-23  Authors: tom dichristopher
Keywords: news, cnbc, companies, turns, oil, crude, saudi, screws, quest, trump, arabia, drive, weeks, drillers, kingdom, american, prices, trumps, president


Trump's quest to drive down oil prices turns the screws on American drillers

President Donald Trump is rooting for oil prices to fall even further after a stunning plunge over the last seven weeks. The U.S. oil and gas industry, a pillar of Trump’s political base, is likely less enthusiastic.

This year’s oil prices rally has swiftly collapsed as fears of potential oil shortages give way to forecasts that crude supply will swamp demand next year. The sell-off is pushing U.S. crude prices to levels that may impact drillers’ spending plans and their ability to return cash to shareholders.

“Exxon, Chevron, BP will survive because they are so big, but some of the smaller companies might have problems as costs are rising and revenue is falling,” said Andrew Lipow, president of Lipow Oil Associates.

U.S. crude futures tumbled from a nearly four-year high at $76.90 on Oct. 3 to a more than one-year low at $50.53 on Friday. From peak to trough, U.S. crude has lost more than a third of its value.

Oil’s drop below $55 earlier this week was apparently not enough for Trump. On Wednesday, the president took to Twitter to praise Saudi Arabia for hiking output and helping to cap oil prices. Trump implored the kingdom to keep at it, saying “let’s go lower!”

Trump sent the tweet one day after he declared his support for Saudi Arabia, shrugging off bipartisan calls to punish the kingdom after Saudi agents murdered journalist and U.S. resident Jamal Khashoggi last month. The CIA has reportedly concluded Saudi Crown Prince Mohammed bin Salman ordered the killing, but Trump has been casting doubt on that assessment throughout the week.

The president’s defense of Saudi Arabia comes about two weeks before a critical OPEC meeting on Dec. 6. Trump wants the Saudi-led group to keep pumping at full tilt, which would keep a lid on oil prices.

In recent weeks, the 15-nation OPEC cartel and several other exporters have signaled that they will agree to a price-boosting output cut. But Trump’s overtures to the Saudis could make it more difficult for the kingdom to support throttling back output.

“It looks like they’re going to be backing off on that,” John Kilduff, founding partner at energy hedge fund Again Capital, told CNBC’s “Squawk Box” on Wednesday. “Our relationship with them appears to be bought and paid for now, and the oil market’s MVP, President Trump, is helping to keep a lid on prices.”


Company: cnbc, Activity: cnbc, Date: 2018-11-23  Authors: tom dichristopher
Keywords: news, cnbc, companies, turns, oil, crude, saudi, screws, quest, trump, arabia, drive, weeks, drillers, kingdom, american, prices, trumps, president


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Khashoggi case: Saudi foreign minister rejects reports of a potential regime change

Every Saudi feels represented by his leadership, and every Saudi represents his leadership. These are outrageous comments that are being made and are totally unacceptable,” Al-Jubeir told CNBC’s Hadley Gamble on Wednesday. Saudi Arabia has denied claims that the crown prince had knowledge of the operation, blaming the “unfortunate accident” on the actions of rogue agents. A day before Al-Jubeir’s interview, President Donald Trump affirmed his support for the kingdom and its leadership despite th


Every Saudi feels represented by his leadership, and every Saudi represents his leadership. These are outrageous comments that are being made and are totally unacceptable,” Al-Jubeir told CNBC’s Hadley Gamble on Wednesday. Saudi Arabia has denied claims that the crown prince had knowledge of the operation, blaming the “unfortunate accident” on the actions of rogue agents. A day before Al-Jubeir’s interview, President Donald Trump affirmed his support for the kingdom and its leadership despite th
Khashoggi case: Saudi foreign minister rejects reports of a potential regime change Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: sam meredith, fayez nureldine, afp, getty images
Keywords: news, cnbc, companies, prince, kingdom, vision, change, potential, rejects, reports, case, crown, leadership, minister, totally, saudi, foreign, khashoggi, regime, terms, trump, arabia


Khashoggi case: Saudi foreign minister rejects reports of a potential regime change

“The country is totally supportive of them. Every Saudi feels represented by his leadership, and every Saudi represents his leadership. These are outrageous comments that are being made and are totally unacceptable,” Al-Jubeir told CNBC’s Hadley Gamble on Wednesday.

Jamal Khashoggi, a writer for The Washington Post, was killed at the Saudi consulate in Istanbul on Oct. 2 during a visit to obtain documents for his wedding.

Saudi Arabia has denied claims that the crown prince had knowledge of the operation, blaming the “unfortunate accident” on the actions of rogue agents.

“The Kingdom of Saudi Arabia is unified on this issue, the Kingdom of Saudi Arabia is committed to its leadership, the Kingdom of Saudi Arabia is committed to the vision that our leaders have put forth for us in terms of Vision 2030 and in terms of moving along the path of reform,” Jubeir said.

“And we will continue to move in spite of what people may or may not say.”

A day before Al-Jubeir’s interview, President Donald Trump affirmed his support for the kingdom and its leadership despite the international furor over the killing of Khashoggi.

Trump said oil-rich Saudi Arabia was an important political and economic ally, and he appeared to dismiss media reports that the CIA could conclude, in its own report on the death, that the crown prince had ordered Khashoggi’s killing.

“It could very well be that the crown prince had knowledge of this tragic event,” Trump said in the statement, though he added: “Maybe he did and maybe he didn’t.”


Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: sam meredith, fayez nureldine, afp, getty images
Keywords: news, cnbc, companies, prince, kingdom, vision, change, potential, rejects, reports, case, crown, leadership, minister, totally, saudi, foreign, khashoggi, regime, terms, trump, arabia


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Saudis declared guilty in Khashoggi death ‘without people seeing the facts’: FM

Saudi Arabia was presumed to be guilty over the murder of journalist Jamal Khashoggi without people knowing the facts or waiting for investigations to be completed, Saudi Arabia’s Foreign Minister Adel al-Jubeir told CNBC on Wednesday. “Saudi Arabia was declared guilty without people seeing evidence, without people knowing the facts,” Al-Jubeir said, speaking to CNBC’s Hadley Gamble in Riyadh. We have seen leaks in the media, out of Turkey and out of Qatari-owned news entities that are disparagi


Saudi Arabia was presumed to be guilty over the murder of journalist Jamal Khashoggi without people knowing the facts or waiting for investigations to be completed, Saudi Arabia’s Foreign Minister Adel al-Jubeir told CNBC on Wednesday. “Saudi Arabia was declared guilty without people seeing evidence, without people knowing the facts,” Al-Jubeir said, speaking to CNBC’s Hadley Gamble in Riyadh. We have seen leaks in the media, out of Turkey and out of Qatari-owned news entities that are disparagi
Saudis declared guilty in Khashoggi death ‘without people seeing the facts’: FM Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: holly ellyatt
Keywords: news, cnbc, companies, kingdom, involved, saudis, knowing, seeing, crown, declared, guilty, arabia, facts, saudi, prince, khashoggi, death, fm


Saudis declared guilty in Khashoggi death 'without people seeing the facts': FM

Saudi Arabia was presumed to be guilty over the murder of journalist Jamal Khashoggi without people knowing the facts or waiting for investigations to be completed, Saudi Arabia’s Foreign Minister Adel al-Jubeir told CNBC on Wednesday.

“Saudi Arabia was declared guilty without people seeing evidence, without people knowing the facts,” Al-Jubeir said, speaking to CNBC’s Hadley Gamble in Riyadh.

“This has continued since. We have seen leaks in the media, out of Turkey and out of Qatari-owned news entities that are disparaging of the kingdom and we see a lot of accusations thrown at the Kingdom of Saudi (Arabia), but they are not true.”

Al-Jubeir repeated comments he has made previously, saying the killing of Khashoggi in the Saudi consulate in Istanbul on Oct. 2 was “an unfortunate accident,” and those who committed it “will be brought to justice.” “We have made it very clear that Saudi Arabia’s government is not involved in this and the crown prince is not involved in this, at all,” he said.

These comments came after a weekend report from The Washington Postthat said the CIA had determined that Saudi Crown Prince Mohammed bin Salman ordered the assassination of Khashoggi.


Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: holly ellyatt
Keywords: news, cnbc, companies, kingdom, involved, saudis, knowing, seeing, crown, declared, guilty, arabia, facts, saudi, prince, khashoggi, death, fm


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Trump thanks Saudis for lower oil price, doubling down on defense of kingdom

On Tuesday, Trump declared he would stand by Saudi Arabia, even though the CIA has reportedly concluded that Saudi Crown Prince Mohammed bin Salman ordered Khashoggi’s killing. After releasing the statement, Trump repeatedly linked his position to his desire to boost arms sales to Saudi Arabia and the kingdom’s role in preventing an oil price spike. Early Wednesday morning, Trump took to Twitter to promote the recent sharp pullback in oil prices and to praise Saudi Arabia. “Oil prices getting lo


On Tuesday, Trump declared he would stand by Saudi Arabia, even though the CIA has reportedly concluded that Saudi Crown Prince Mohammed bin Salman ordered Khashoggi’s killing. After releasing the statement, Trump repeatedly linked his position to his desire to boost arms sales to Saudi Arabia and the kingdom’s role in preventing an oil price spike. Early Wednesday morning, Trump took to Twitter to promote the recent sharp pullback in oil prices and to praise Saudi Arabia. “Oil prices getting lo
Trump thanks Saudis for lower oil price, doubling down on defense of kingdom Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: tom dichristopher, mark wilson, pool via bloomberg
Keywords: news, cnbc, companies, prince, sen, oil, trump, white, saudis, statement, defense, doubling, thanks, lower, stand, saudi, kingdom, prices, price, arabia


Trump thanks Saudis for lower oil price, doubling down on defense of kingdom

President Donald Trump on Wednesday doubled down on his defense of Saudi Arabia, thanking the kingdom for helping to keep a lid on oil prices, amid bipartisan criticism for his statement on the brutal murder of journalist Jamal Khashoggi.

On Tuesday, Trump declared he would stand by Saudi Arabia, even though the CIA has reportedly concluded that Saudi Crown Prince Mohammed bin Salman ordered Khashoggi’s killing. After releasing the statement, Trump repeatedly linked his position to his desire to boost arms sales to Saudi Arabia and the kingdom’s role in preventing an oil price spike.

Early Wednesday morning, Trump took to Twitter to promote the recent sharp pullback in oil prices and to praise Saudi Arabia.

“Oil prices getting lower. Great! Like a big Tax Cut for America and the World. Enjoy! $54, was just $82. Thank you to Saudi Arabia, but let’s go lower!,” Trump tweeted, giving an inaccurate account of the drop in oil prices.

Trump’s tweet underscored a message that is drawing fire from both Republicans and Democrats on Capitol Hill: The administration will overlook human rights abuses — even the murder of a U.S. resident like Khashoggi — if making a stand imperils the president’s pursuit of economic growth.

On Tuesday, Sen. Bob Corker, the Republican chairman of the Senate Committee on Foreign Relations, said the White House is now moonlighting “as a public relations firm for the Crown Prince of Saudi Arabia.”

Trump’s statement prompted Corker, who is about to retire, and Democratic Sen. Bob Menendez to send a Global Magnitsky Act letter to the White House, requiring the president to determine whether Prince Mohammed ordered Khashoggi’s slaying.


Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: tom dichristopher, mark wilson, pool via bloomberg
Keywords: news, cnbc, companies, prince, sen, oil, trump, white, saudis, statement, defense, doubling, thanks, lower, stand, saudi, kingdom, prices, price, arabia


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‘Insane’ for UK and EU to harm border trade, McLaren CEO says

The chief executive of British sports car maker McLaren Automotive has told CNBC that it would be “insane” for the United Kingdom and European Union (EU) to fail to agree a deal on Brexit. How to maintain the frictionless movement of goods between Ireland and Northern Ireland after Brexit remains a sticking point in negotiations. McLaren officially opened a new composite factory in northern England on Wednesday, allowing it to directly design and build the carbon chassis of its cars in the Unite


The chief executive of British sports car maker McLaren Automotive has told CNBC that it would be “insane” for the United Kingdom and European Union (EU) to fail to agree a deal on Brexit. How to maintain the frictionless movement of goods between Ireland and Northern Ireland after Brexit remains a sticking point in negotiations. McLaren officially opened a new composite factory in northern England on Wednesday, allowing it to directly design and build the carbon chassis of its cars in the Unite
‘Insane’ for UK and EU to harm border trade, McLaren CEO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: david reid
Keywords: news, cnbc, companies, ceo, uk, border, movement, problem, million, kingdom, harm, northern, trade, united, eu, run, insane, mclaren, told


'Insane' for UK and EU to harm border trade, McLaren CEO says

The chief executive of British sports car maker McLaren Automotive has told CNBC that it would be “insane” for the United Kingdom and European Union (EU) to fail to agree a deal on Brexit.

Mike Flewitt said he spoke to U.K. Prime Minister Theresa May on a conference call two weeks ago and he is confident that a withdrawal deal will be done. How to maintain the frictionless movement of goods between Ireland and Northern Ireland after Brexit remains a sticking point in negotiations. However, the supercar executive warned that any outcome that slowed the cross-border movement of goods would be hugely damaging.

“It would be insane, both for the EU and for the U.K. to run into a situation where we’re affecting imports and exports through that period,” he said, before adding “We shouldn’t let ourselves run into a problem like that in this day and age, it would be crazy.”

Flewit stressed that he was not only talking about disruption to the automotive industry.

“Think of food stocks and livestock and anything that’s coming across borders being delayed (that) would be a real problem so I’m in the camp of optimists who think we’ll find a way through,” he told CNBC’s Julianna Tatelbaum at the firm’s headquarters just outside London.

McLaren officially opened a new composite factory in northern England on Wednesday, allowing it to directly design and build the carbon chassis of its cars in the United Kingdom. The McLaren Composites Technology Centre (MCTC) has been completed thanks to a £50 million ($64.6 million) joint investment with Sheffield City Council.

Flewitt said that decision, while not Brexit related, would help the car maker’s control over manufacturing as it moved more production “onshore.”

“It actually moves our U.K. content up from around about 50 percent to the core by value, closer to 60 percent,” he added.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: david reid
Keywords: news, cnbc, companies, ceo, uk, border, movement, problem, million, kingdom, harm, northern, trade, united, eu, run, insane, mclaren, told


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Saudi Arabia says kingdom to prosecute Khashoggi killers, lauds US ties

Saudi Arabia’s Foreign Minister Adel al-Jubeir said on Saturday that those behind the killing of journalist Jamal Khashoggi would be prosecuted in the kingdom and that the investigation would take time. Jubeir told a security summit in Bahrain that Riyadh’s relations with the United States were “ironclad” amid what he described as “media hysteria” over the killing of Khashoggi at the Saudi consulate in Istanbul on Oct. 2, which sparked a global outcry and strained the kingdom’s ties with the Wes


Saudi Arabia’s Foreign Minister Adel al-Jubeir said on Saturday that those behind the killing of journalist Jamal Khashoggi would be prosecuted in the kingdom and that the investigation would take time. Jubeir told a security summit in Bahrain that Riyadh’s relations with the United States were “ironclad” amid what he described as “media hysteria” over the killing of Khashoggi at the Saudi consulate in Istanbul on Oct. 2, which sparked a global outcry and strained the kingdom’s ties with the Wes
Saudi Arabia says kingdom to prosecute Khashoggi killers, lauds US ties Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-27  Authors: shannon stapleton
Keywords: news, cnbc, companies, foreign, united, lauds, prosecute, killers, arabia, vision, trump, ties, saudi, khashoggi, kingdom, states, minister, westthe, killing


Saudi Arabia says kingdom to prosecute Khashoggi killers, lauds US ties

Saudi Arabia’s Foreign Minister Adel al-Jubeir said on Saturday that those behind the killing of journalist Jamal Khashoggi would be prosecuted in the kingdom and that the investigation would take time.

Jubeir told a security summit in Bahrain that Riyadh’s relations with the United States were “ironclad” amid what he described as “media hysteria” over the killing of Khashoggi at the Saudi consulate in Istanbul on Oct. 2, which sparked a global outcry and strained the kingdom’s ties with the West.

The minister also said the administration of U.S. President Donald Trump has a “rational, realistic” foreign policy that all Gulf Arab states can support. He said Saudi Arabia was combating Iran’s vision of “darkness” in the Middle East.


Company: cnbc, Activity: cnbc, Date: 2018-10-27  Authors: shannon stapleton
Keywords: news, cnbc, companies, foreign, united, lauds, prosecute, killers, arabia, vision, trump, ties, saudi, khashoggi, kingdom, states, minister, westthe, killing


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Oil prices fall as Saudi Arabia plans output increase

Brent crude fell toward $79 a barrel on Monday, as Saudi Arabia sought to reassure the market that the kingdom remains focused on raising output to compensate for supply losses elsewhere, such as Iran. Benchmark Brent crude oil futures were down 61 cents on the day to $79.17 a barrel by 9:48 a.m. ET (1348 GMT), while U.S. crude futures fell 83 cents, or 1.2 percent, to $68.29 a barrel. Several U.S. lawmakers have suggested imposing sanctions on Saudi Arabia over the killing of Saudi journalist J


Brent crude fell toward $79 a barrel on Monday, as Saudi Arabia sought to reassure the market that the kingdom remains focused on raising output to compensate for supply losses elsewhere, such as Iran. Benchmark Brent crude oil futures were down 61 cents on the day to $79.17 a barrel by 9:48 a.m. ET (1348 GMT), while U.S. crude futures fell 83 cents, or 1.2 percent, to $68.29 a barrel. Several U.S. lawmakers have suggested imposing sanctions on Saudi Arabia over the killing of Saudi journalist J
Oil prices fall as Saudi Arabia plans output increase Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: heinz-peter bader
Keywords: news, cnbc, companies, cents, crude, prices, plans, sanctions, barrel, kingdom, arabia, saudi, futures, output, oil, fall, increase, fell, brent


Oil prices fall as Saudi Arabia plans output increase

Brent crude fell toward $79 a barrel on Monday, as Saudi Arabia sought to reassure the market that the kingdom remains focused on raising output to compensate for supply losses elsewhere, such as Iran.

Benchmark Brent crude oil futures were down 61 cents on the day to $79.17 a barrel by 9:48 a.m. ET (1348 GMT), while U.S. crude futures fell 83 cents, or 1.2 percent, to $68.29 a barrel.

Several U.S. lawmakers have suggested imposing sanctions on Saudi Arabia over the killing of Saudi journalist Jamal Khashoggi, while the kingdom, the world’s largest oil exporter, has pledged to retaliate to any sanctions with “bigger measures.”

Saudi energy minister Khalid al-Falih told Russia’s TASS news agency that his country had no intention of unleashing a 1973-style oil embargo on Western consumers.


Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: heinz-peter bader
Keywords: news, cnbc, companies, cents, crude, prices, plans, sanctions, barrel, kingdom, arabia, saudi, futures, output, oil, fall, increase, fell, brent


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Oil prices shrug off Khashoggi crisis, but US lawmakers and Turkey are turning up the heat on Saudis

The oil market has so far shrugged off rising U.S.-Saudi tensions over the killing of journalist Jamal Khashoggi by agents of the kingdom in Turkey, but the saga appears to be far from over. A speech by Turkey’s president slated for Tuesday could give the lawmakers fresh ammunition by further undermining the kingdom’s narrative. Just one week ago, Saudi Arabia was denying any role in Khashoggi’s disappearance and vowing to retaliate against foreign countries that sought to hold the kingdom accou


The oil market has so far shrugged off rising U.S.-Saudi tensions over the killing of journalist Jamal Khashoggi by agents of the kingdom in Turkey, but the saga appears to be far from over. A speech by Turkey’s president slated for Tuesday could give the lawmakers fresh ammunition by further undermining the kingdom’s narrative. Just one week ago, Saudi Arabia was denying any role in Khashoggi’s disappearance and vowing to retaliate against foreign countries that sought to hold the kingdom accou
Oil prices shrug off Khashoggi crisis, but US lawmakers and Turkey are turning up the heat on Saudis Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: tom dichristopher, getty images
Keywords: news, cnbc, companies, oil, khashoggi, kingdom, saudis, vowing, prices, turning, arabia, week, shrug, saudi, crisis, sanctions, weapons, far, heat, lawmakers, turkey


Oil prices shrug off Khashoggi crisis, but US lawmakers and Turkey are turning up the heat on Saudis

The oil market has so far shrugged off rising U.S.-Saudi tensions over the killing of journalist Jamal Khashoggi by agents of the kingdom in Turkey, but the saga appears to be far from over.

A chorus of U.S. lawmakers is questioning Saudi Arabia’s official story about the murder, raising the prospect of sanctions or a ban on weapons sales to Riyadh. A speech by Turkey’s president slated for Tuesday could give the lawmakers fresh ammunition by further undermining the kingdom’s narrative.

Just one week ago, Saudi Arabia was denying any role in Khashoggi’s disappearance and vowing to retaliate against foreign countries that sought to hold the kingdom accountable. The veiled threat raised concerns that the Saudis would exact revenge on the United States and others by cutting oil supply and allowing crude prices to bubble higher.

The Trump administration is relying on Saudi Arabia to pump more oil to offset the effect of U.S. sanctions on Iran, OPEC’s third biggest producer.


Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: tom dichristopher, getty images
Keywords: news, cnbc, companies, oil, khashoggi, kingdom, saudis, vowing, prices, turning, arabia, week, shrug, saudi, crisis, sanctions, weapons, far, heat, lawmakers, turkey


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