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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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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Saudi Arabia claims Khashoggi was killed in a fight, contrary to other accounts

Saudi Arabia said it “is taking the necessary measures to clarify the circumstances in the case of Saudi citizen Jamal Khashoggi” and that “all those involved will be brought to justice.” We are saddened to hear confirmation of Mr. Khashoggi’s death, and we offer our deepest condolences to his family, fiancée, and friends.” In the weeks following Khashoggi’s disappearance, the international community increasingly pressed Saudi Arabia for the dissident’s whereabouts. On Thursday, Trump acknowledg


Saudi Arabia said it “is taking the necessary measures to clarify the circumstances in the case of Saudi citizen Jamal Khashoggi” and that “all those involved will be brought to justice.” We are saddened to hear confirmation of Mr. Khashoggi’s death, and we offer our deepest condolences to his family, fiancée, and friends.” In the weeks following Khashoggi’s disappearance, the international community increasingly pressed Saudi Arabia for the dissident’s whereabouts. On Thursday, Trump acknowledg
Saudi Arabia claims Khashoggi was killed in a fight, contrary to other accounts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: christine wang, chris mcgrath, getty images news, getty images
Keywords: news, cnbc, companies, claims, khashoggi, saudi, killed, fight, death, arabia, international, contrary, president, press, accounts, kingdom, prince, khashoggis


Saudi Arabia claims Khashoggi was killed in a fight, contrary to other accounts

The kingdom also fired Deputy Chief of General Intelligence Ahmad bin Hassan Asiri and royal court advisor Abdullah Al-Qahtani. The kingdom also said a committee would be formed to restructure its intelligence agency under the supervision of Prince Mohammed, “to modernize its regulations and define its powers precisely.”

On Thursday, The New York Times reported that Saudi officials close to the crown prince planned on blaming Asiri for Khashoggi’s death. The Times said by making Asiri a scapegoat, the government could help shield the crown prince from blame.

Through its state press, the kingdom said it has detained 18 Saudi nationals after preliminary investigations linked them to the case.

Saudi Arabia said it “is taking the necessary measures to clarify the circumstances in the case of Saudi citizen Jamal Khashoggi” and that “all those involved will be brought to justice.”

White House press secretary Sarah Sanders issued the following statement:

“The United States acknowledges the announcement from the Kingdom of Saudi Arabia that its investigation into the fate of Jamal Khashoggi is progressing and that it has taken action against the suspects it has identified thus far. We will continue to closely follow the international investigations into this tragic incident and advocate for justice that is timely, transparent, and in accordance with all due process. We are saddened to hear confirmation of Mr. Khashoggi’s death, and we offer our deepest condolences to his family, fiancée, and friends.”

In the weeks following Khashoggi’s disappearance, the international community increasingly pressed Saudi Arabia for the dissident’s whereabouts. U.S. President Donald Trump also faced mounting criticism for being too soft in his response. On Thursday, Trump acknowledged Khashoggi was likely dead and said he would consider “very severe consequences” if Saudi Arabia is found responsible.

But Trump’s resistance to act swiftly sparked comparisons to how he has spoken deferentially about other autocratic leaders accused of human rights abuses, such as Russia’s Vladimir Putin and North Korea’s Kim Jong Un. On Tuesday, the president told The Associated Press that he saw a case of “you’re guilty until proven innocent.”

Trump on Friday called the arrests a “good first step.” Yet he also mentioned that he would be reluctant to undo arms deals with the kingdom if the U.S. were to slap Saudi Arabia with sanctions over Khashoggi’s death.

Vice President Mike Pence said that the U.S. will not “solely rely” on information provided by Saudi Arabia, a longtime U.S. ally in the Middle East.

Several members of Congress have called for swift sanctions on oil-rich Saudi Arabia in the uproar over Khashoggi. Sen. Lindsey Graham, R-S.C., quickly expressed his doubts about the Saudi account of the journalist’s death, saying “It’s hard to find this latest ‘explanation’ as credible.”

The announcement comes more than two weeks after Khashoggi was last seen in public, entering the Saudi consulate in Istanbul. Khashoggi was a frequent critic of Saudi Arabia’s royal family and wrote columns for The Washington Post.

In his last column for the Post, Khashoggi highlighted the need for independent and free press in Arab nations. He said the international community had turned a blind eye to the increasing rate at which Arab governments were silencing the press.

“These actions no longer carry the consequence of a backlash from the international community. Instead, these actions may trigger condemnation quickly followed by silence,” Khashoggi wrote.

— CNBC’s Jacob Pramuk, Christina Wilkie and Kevin Breuninger contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: christine wang, chris mcgrath, getty images news, getty images
Keywords: news, cnbc, companies, claims, khashoggi, saudi, killed, fight, death, arabia, international, contrary, president, press, accounts, kingdom, prince, khashoggis


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Trump: Arrests in killing of Jamal Khashoggi are ‘a good first step’

President Donald Trump called Saudi Arabia’s announcement of arrests in the death of Washington Post journalist Jamal Khashoggi a “good first step.” Trump has boasted of $110 billion in weapons sales to Saudi Arabia, although the transactions have yet to come to fruition. Trump said that he wants to talk to Saudi Crown Prince Mohammed bin Salman before the next steps in the process. Through its state press, Saudi Arabia said arrested 18 Saudi nationals after preliminary investigations linked the


President Donald Trump called Saudi Arabia’s announcement of arrests in the death of Washington Post journalist Jamal Khashoggi a “good first step.” Trump has boasted of $110 billion in weapons sales to Saudi Arabia, although the transactions have yet to come to fruition. Trump said that he wants to talk to Saudi Crown Prince Mohammed bin Salman before the next steps in the process. Through its state press, Saudi Arabia said arrested 18 Saudi nationals after preliminary investigations linked the
Trump: Arrests in killing of Jamal Khashoggi are ‘a good first step’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: mike calia
Keywords: news, cnbc, companies, trump, killing, president, jamal, good, saudi, sales, press, killed, linked, prince, step, khashoggi, kingdom, arrests


Trump: Arrests in killing of Jamal Khashoggi are 'a good first step'

President Donald Trump called Saudi Arabia’s announcement of arrests in the death of Washington Post journalist Jamal Khashoggi a “good first step.”

Yet, he added that considers what happened to the writer to be “unacceptable.”

The president also said he would work with Congress on the matter, but that he would prefer not to hurt U.S. companies and jobs by cutting billions of dollars in arms sales to the kingdom. Trump has boasted of $110 billion in weapons sales to Saudi Arabia, although the transactions have yet to come to fruition.

Trump said that he wants to talk to Saudi Crown Prince Mohammed bin Salman before the next steps in the process.

Through its state press, Saudi Arabia said arrested 18 Saudi nationals after preliminary investigations linked them to the Khashoggi case.

The president said the death of Khashoggi was a “horrible event” that has not gone “unnoticed.”

Trump spoke during a defense roundtable in Arizona, where he was set to hold a political rally. His remarks followed Saudi Arabia’s announcement confirming that Khashoggi had indeed been killed.

However, the kingdom said the journalist and critic of the Saudi royal family was killed during an altercation with Saudi operatives at the nation’s consulate in Istanbul.

This account is vastly different from previously leaked stories that said Khashoggi was tortured and dismembered. Media reports said that the team who allegedly killed Khashoggi included men linked to the Saudi crown prince, who has denied involvement in the matter.

Trump told reporters Friday that he found the Saudi explanation to be credible. However, many others, including Trump ally and Republican Sen. Lindsey Graham, weren’t buying the latest story.

-The Associated Press and CNBC’s Christine Wang and Amanda Macias contributed to this article.


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: mike calia
Keywords: news, cnbc, companies, trump, killing, president, jamal, good, saudi, sales, press, killed, linked, prince, step, khashoggi, kingdom, arrests


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Khashoggi crisis threatens to alienate the foreign firms remaking Saudi Arabia’s economy

AMC’s single screen in Riyadh is more than 20 times more profitable than the average AMC screen. Saudi Arabia’s sovereign wealth fund is kicking in the “lion’s share” of the capital necessary to build the planned 50 to 100 AMC theaters in the kingdom. “Ah, the benefits of pent-up demand,” Aron said on the company’s second-quarter earnings conference call. “Over time, we expect that our 16th country will make a material financial contribution to AMC.” The arrangement illustrates how Saudi Arabia


AMC’s single screen in Riyadh is more than 20 times more profitable than the average AMC screen. Saudi Arabia’s sovereign wealth fund is kicking in the “lion’s share” of the capital necessary to build the planned 50 to 100 AMC theaters in the kingdom. “Ah, the benefits of pent-up demand,” Aron said on the company’s second-quarter earnings conference call. “Over time, we expect that our 16th country will make a material financial contribution to AMC.” The arrangement illustrates how Saudi Arabia
Khashoggi crisis threatens to alienate the foreign firms remaking Saudi Arabia’s economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: tom dichristopher, bandar algaloud, anadolu agency, getty images, -ellen wald, author of saudi inc
Keywords: news, cnbc, companies, kingdom, weight, remaking, amc, screen, saudi, economy, khashoggi, arabia, threatens, crisis, words, aron, alienate, companys, western, arabias, foreign, firms


Khashoggi crisis threatens to alienate the foreign firms remaking Saudi Arabia's economy

In August, AMC Entertainment CEO Adam Aron told analysts he “could not be more upbeat” about the company’s expansion into Saudi Arabia, where the company had recently opened the first new theater in the conservative Islamic kingdom in nearly four decades.

Aron had good reason to be effusive. In his words, the opening received “massive global publicity.” AMC’s single screen in Riyadh is more than 20 times more profitable than the average AMC screen. Plus, that profitability is coming cheap. Saudi Arabia’s sovereign wealth fund is kicking in the “lion’s share” of the capital necessary to build the planned 50 to 100 AMC theaters in the kingdom.

“Ah, the benefits of pent-up demand,” Aron said on the company’s second-quarter earnings conference call. “Over time, we expect that our 16th country will make a material financial contribution to AMC.”

The arrangement illustrates how Saudi Arabia is relying on partnerships with foreign firms as the nation embarks on an ambitious endeavor to overhaul its oil-dependent economy — and how Western companies stand to profit handsomely from that project. However, those tie-ups are now fraught with reputational risk as the Saudi brand strains under the weight of allegations that the kingdom — and Crown Prince Mohammed bin Salman himself — orchestrated the assassination of journalist and U.S. resident Jamal Khashoggi.


Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: tom dichristopher, bandar algaloud, anadolu agency, getty images, -ellen wald, author of saudi inc
Keywords: news, cnbc, companies, kingdom, weight, remaking, amc, screen, saudi, economy, khashoggi, arabia, threatens, crisis, words, aron, alienate, companys, western, arabias, foreign, firms


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Top US diplomat in Saudi Arabia for talks over Khashoggi

U.S. Secretary of State Mike Pompeo arrived Tuesday in Saudi Arabia for talks with King Salman over the disappearance and alleged slaying of Saudi writer Jamal Khashoggi, who vanished two weeks ago during a visit to the Saudi Consulate in Istanbul. Pompeo landed in Riyadh on Tuesday morning and was to immediately meet the king over the crisis surrounding Khashoggi. Pompeo was welcomed by Saudi Foreign Minister Adel al-Jubeir on landing; he made no remarks to the media. Saudi officials previously


U.S. Secretary of State Mike Pompeo arrived Tuesday in Saudi Arabia for talks with King Salman over the disappearance and alleged slaying of Saudi writer Jamal Khashoggi, who vanished two weeks ago during a visit to the Saudi Consulate in Istanbul. Pompeo landed in Riyadh on Tuesday morning and was to immediately meet the king over the crisis surrounding Khashoggi. Pompeo was welcomed by Saudi Foreign Minister Adel al-Jubeir on landing; he made no remarks to the media. Saudi officials previously
Top US diplomat in Saudi Arabia for talks over Khashoggi Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: leah millis, pool
Keywords: news, cnbc, companies, kingdom, khashoggi, writer, diplomat, king, diplomatic, talks, pompeo, salman, saudi, consulate, arabia, disappearance


Top US diplomat in Saudi Arabia for talks over Khashoggi

U.S. Secretary of State Mike Pompeo arrived Tuesday in Saudi Arabia for talks with King Salman over the disappearance and alleged slaying of Saudi writer Jamal Khashoggi, who vanished two weeks ago during a visit to the Saudi Consulate in Istanbul.

Pompeo landed in Riyadh on Tuesday morning and was to immediately meet the king over the crisis surrounding Khashoggi. Pompeo was welcomed by Saudi Foreign Minister Adel al-Jubeir on landing; he made no remarks to the media.

Turkish officials say they fear Khashoggi was killed and dismembered inside the consulate. Saudi officials previously have called the allegations “baseless,” but reports in U.S. media on Tuesday suggested the kingdom may acknowledge the writer was killed there.

Meanwhile, a Turkish forensics team finished earlier in the morning a search inside the consulate. Technicians in coveralls, gloves and covered shoes treated the diplomatic mission as a crime scene during their hours-long search. It wasn’t immediately clear what evidence they gathered.

President Donald Trump, after speaking with King Salman, had dispatched Pompeo to speak to the monarch of the world’s top oil exporter over Khashoggi’s disappearance. Trump himself said without offering evidence that the slaying could have been carried out by “rogue killers,” offering the U.S.-allied kingdom a possible path out of a global diplomatic firestorm.

However, left unsaid was the fact that any decision in the ultraconservative kingdom rests solely with the ruling Al Saud family. Noticeably absent from discussions was Saudi Crown Prince Mohammed bin Salman, whom Khashoggi wrote critically about for The Washington Post and whose rise to power prompted the writer to go into a self-imposed exile in the United States.

“The effort behind the scenes is focused on avoiding a diplomatic crisis between the two countries and has succeeded in finding a pathway to deescalate tensions,” said Ayham Kamel, the head of the Eurasia Group’s Mideast and North African practice. “Riyadh will have to provide some explanation of the journalist’s disappearance, but in a manner that distances the leadership from any claim that a decision was made at senior levels to assassinate the prominent journalist.”

CNN reported that the Saudis were going to admit the killing had occurred but deny the king or crown prince had ordered it — which does not match what analysts and experts know about the kingdom’s inner workings.


Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: leah millis, pool
Keywords: news, cnbc, companies, kingdom, khashoggi, writer, diplomat, king, diplomatic, talks, pompeo, salman, saudi, consulate, arabia, disappearance


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Why the market is suddenly concerned Saudi Arabia will weaponize oil in Khashoggi dispute

The oil market is on edge after Saudi Arabia issued a combative statement that some are interpreting as a veiled threat to wield crude as a weapon in the ongoing scandal over missing dissident Jamal Khashoggi. Saudi Arabia denies those claims. The United States and European nations have threatened punishment if Saudi Arabia is found to be behind Khashoggi’s alleged murder. That has caused Saudi Arabia to react forcefully. Here’s why Riyadh’s response is roiling the oil market.


The oil market is on edge after Saudi Arabia issued a combative statement that some are interpreting as a veiled threat to wield crude as a weapon in the ongoing scandal over missing dissident Jamal Khashoggi. Saudi Arabia denies those claims. The United States and European nations have threatened punishment if Saudi Arabia is found to be behind Khashoggi’s alleged murder. That has caused Saudi Arabia to react forcefully. Here’s why Riyadh’s response is roiling the oil market.
Why the market is suddenly concerned Saudi Arabia will weaponize oil in Khashoggi dispute Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: tom dichristopher, hasan jamali
Keywords: news, cnbc, companies, riyadh, dispute, suddenly, caused, weaponize, oil, investment, khashoggi, concerned, kingdom, market, saudi, arabia, scandal


Why the market is suddenly concerned Saudi Arabia will weaponize oil in Khashoggi dispute

The oil market is on edge after Saudi Arabia issued a combative statement that some are interpreting as a veiled threat to wield crude as a weapon in the ongoing scandal over missing dissident Jamal Khashoggi.

The question is whether Saudi Arabia — the world’s largest oil exporter, a close ally of President Donald Trump and the de facto leader of OPEC — would take that extraordinary step, one it has not taken since the Arab oil embargo of 1973-1974.

To be sure, the current leadership in Riyadh is facing unprecedented scrutiny over allegations that the kingdom ordered the abduction of Khashoggi, a Saudi journalist and Washington Post columnist. Turkey says it believes that Saudi agents detained and killed Khashoggi at the kingdom’s consulate in Istanbul. Saudi Arabia denies those claims.

The scandal has caused businesses, influential individuals and media companies to drop out of this month’s Future Investment Initiative, a conference in Riyadh meant to attract investment in the kingdom. The United States and European nations have threatened punishment if Saudi Arabia is found to be behind Khashoggi’s alleged murder.

That has caused Saudi Arabia to react forcefully. Here’s why Riyadh’s response is roiling the oil market.


Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: tom dichristopher, hasan jamali
Keywords: news, cnbc, companies, riyadh, dispute, suddenly, caused, weaponize, oil, investment, khashoggi, concerned, kingdom, market, saudi, arabia, scandal


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Pressure on Saudi Arabia over Jamal Khashoggi may escalate, bring pain

With Saudi Arabia denying a role in the sudden disappearance of a prominent journalist — and vowing to push back against any effort at international retribution — the chances are growing that the crisis could escalate, and ricochet across the global economy. On Sunday, the world reacted to last week’s vanishing of Jamal Khashoggi, a Washington Post columnist and critic of the Saudi Government. The West has threatened consequences for the kingdom, which is suspected of having captured the journal


With Saudi Arabia denying a role in the sudden disappearance of a prominent journalist — and vowing to push back against any effort at international retribution — the chances are growing that the crisis could escalate, and ricochet across the global economy. On Sunday, the world reacted to last week’s vanishing of Jamal Khashoggi, a Washington Post columnist and critic of the Saudi Government. The West has threatened consequences for the kingdom, which is suspected of having captured the journal
Pressure on Saudi Arabia over Jamal Khashoggi may escalate, bring pain Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-14  Authors: javier e david, tom dichristopher, patti domm, ted kemp, jabin botsford, the washington post, getty images, murad sezer
Keywords: news, cnbc, companies, bring, world, jamal, pain, khashoggi, escalate, disappearance, west, pressure, weeks, arabia, kingdom, journalist, saudi


Pressure on Saudi Arabia over Jamal Khashoggi may escalate, bring pain

With Saudi Arabia denying a role in the sudden disappearance of a prominent journalist — and vowing to push back against any effort at international retribution — the chances are growing that the crisis could escalate, and ricochet across the global economy.

On Sunday, the world reacted to last week’s vanishing of Jamal Khashoggi, a Washington Post columnist and critic of the Saudi Government. The West has threatened consequences for the kingdom, which is suspected of having captured the journalist at a Saudi consulate in Istanbul.

The governments of the United Kingdom, France and Germany on Sunday called for a “credible investigation to establish the truth about what happened, and — if relevant — to identify those bearing responsibility for the disappearance of Jamal Khashoggi, and ensure that they are held to account.”

Although Saudi Arabia has fiercely denied any involvement, reports suggest Riyadh may been behind Khashoggi’s disappearance, with Turkey airing suspicions that the journalist may have been killed by Saudi operatives.


Company: cnbc, Activity: cnbc, Date: 2018-10-14  Authors: javier e david, tom dichristopher, patti domm, ted kemp, jabin botsford, the washington post, getty images, murad sezer
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Disappearance of Saudi journalist risks damaging the kingdom’s investment profile

Saudi Arabia is continuing to deny its involvement in the disappearance of prominent Saudi journalist and critic Jamal Khashoggi, who was last seen entering the Saudi consulate in Istanbul on October 2. Turkish investigators allege that Khashoggi was killed in the consulate in an operation planned by Saudi leadership and have opened a criminal investigation into the case. The ensuing controversy and concern highlight a longer string of diplomatic and foreign policy crises that will increase the


Saudi Arabia is continuing to deny its involvement in the disappearance of prominent Saudi journalist and critic Jamal Khashoggi, who was last seen entering the Saudi consulate in Istanbul on October 2. Turkish investigators allege that Khashoggi was killed in the consulate in an operation planned by Saudi leadership and have opened a criminal investigation into the case. The ensuing controversy and concern highlight a longer string of diplomatic and foreign policy crises that will increase the
Disappearance of Saudi journalist risks damaging the kingdom’s investment profile Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: natasha turak, murad sezer, mark wilson, pool via bloomberg
Keywords: news, cnbc, companies, risks, investment, saudi, damaging, leadership, khashoggi, kingdom, political, present, profile, journalist, disappearance, kamel, international, kingdoms, risk


Disappearance of Saudi journalist risks damaging the kingdom's investment profile

Saudi Arabia is continuing to deny its involvement in the disappearance of prominent Saudi journalist and critic Jamal Khashoggi, who was last seen entering the Saudi consulate in Istanbul on October 2.

Turkish investigators allege that Khashoggi was killed in the consulate in an operation planned by Saudi leadership and have opened a criminal investigation into the case.

The Saudi government has denied the claims, calling them “baseless.” But the disappearance of Khashoggi, a U.S. resident and frequent Washington Post contributor, has raised international alarm and pulled the world’s attention once again to the Islamic kingdom’s ongoing crackdown on dissent.

The ensuing controversy and concern highlight a longer string of diplomatic and foreign policy crises that will increase the political risk associated with the country, some analysts say.

“The Saudi leadership has not accurately assessed the risks of its different ventures and policies,” Ayham Kamel, practice head for the Middle East and North Africa at political risk consultancy Eurasia Group, said in a client note this week.

The press and international community will likely draw links between the current crisis and previous high-profile detention cases including that of Lebanese Prime Minister Saad Hariri in Riyadh and the round-up of several wealthy Saudi businessmen and royals in the Ritz Carlton, both of which dominated headlines in the fall of last year. While the Saudis have insisted no foul play, emphasizing instead the monarchy’s desire to fight corruption and ensure stability in the kingdom, the mounting controversies present an increasing challenge to its image as a pro-reform investment destination.

“A large part of the modernization drive in the kingdom depends on boosting confidence in the viability of the economic transition plan,” Kamel wrote. “At this point, Saudi Arabia will find it incredibly challenging to contain the emerging crisis as confidence in the government’s narrative will be limited. The Saudi leadership would need to present verifiable evidence to demonstrate that it is not implicated.”


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: natasha turak, murad sezer, mark wilson, pool via bloomberg
Keywords: news, cnbc, companies, risks, investment, saudi, damaging, leadership, khashoggi, kingdom, political, present, profile, journalist, disappearance, kamel, international, kingdoms, risk


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