Big IPO business: Saudi Aramco, the Saudi state oil giant planning a public offering next year, has tapped JPMorgan Chase & Co., Morgan Stanley and HSBC for "key roles" in what could be the largest IPO in history, Bloomberg reports.
Keystone XL: Environmentalists sued the Trump administration Thursday over its approval of the pipeline project.
- Their case: "The Sierra Club, Natural Resources Defense Council and other groups say the initial environmental review completed in 2014 is inadequate and outdated, and that it underestimated how much the pipeline would encourage tar sands oil production in Canada," AP reports.
States: The lower chamber of Ohio's legislature passed a bill to weaken the state's green electricity mandate, but its fate is murky from there, the Columbus Dispatch reports.
- Why it matters: States have long been important players in renewable power deployment, and their relevance will likely grow now that the Trump administration is pulling back on federal low-carbon policies.
Electric cars: Hyundai is making a major push into the electric vehicle market, developing its first "dedicated architecture" to build EVs. Reuters reports: "Analysts said Hyundai had no choice but to join the likes of Tesla, General Motors Co and Daimler AG unit Mercedes-Benz in building separate electric-vehicle platforms to be relevant in the segment."