Saudi Crown Prince Mohammed bin Salman. Photo: Nicolas Asfouri/Getty Images

We don't yet know what happened last week to Jamal Khashoggi, a journalist who disappeared after visiting the Saudi Arabian consulate building in Istanbul. Turkish officials claim he was murdered, and that his body was removed, but the Saudis call such allegations preposterous propaganda, and that Khashoggi left unharmed shortly after arriving.

Why it matters, beyond the obvious: If the Turks are right — and that remains a big if — it could have repercussions for some of the world's largest prospective financial deals.

  • Aramco's IPO: The largest IPO in history was supposed to take place in 2018, but Saudi Crown Prince Mohammed bin Salman tells Bloomberg that the delay should not be misinterpreted as a cancellation. Instead, the new target date is 2020, with MBS saying a strategic decision was made to have Aramco first obtain a control stake in Saudi petrochemical giant Sabic, with the IPO to follow one year later (i.e., 2020).
  • SoftBank Vision Fund: MBS said in that same interview that the Saudi Public Investment Fund plans to commit another $45 billion or so to SoftBank's next Vision Fund.

Both of these deals are, in part, predicated on beliefs in MBS as a reformer. Were the Turkish allegation substantiated, then it could become much tougher for Western bankers or exchanges to work on the Aramco IPO, or for Masayoshi Son to accept Saudi as the ongoing capital cornerstone of its evolution into an investment company.

What's next: Expect more clarity on how this is playing among the global business elite in two weeks — pending definitive resolution on Khashoggi's fate — when we learn who chooses to attend Saudi's second annual Future Investment Initiative conference.

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GM's high-stakes electric move

The Cadillac Lyriq. Image courtesy of Cadillac

Cadillac on Thursday unveiled the Lyriq, the luxury brand's first all-electric model and GM's first consumer electric vehicle unveil since the Chevy Bolt several years ago.

Why it matters: It's the first reveal by GM of an electric vehicle that will use the company's new modular platform and Ultium battery system — technologies meant to underpin the 20 electric vehicles that GM plans to launch by 2023.

Trump's TikTok and WeChat actions ratchet up the pressure on China

Illustration: Aïda Amer/Axios

President Trump escalated his campaign to claw apart the Chinese and American tech worlds Thursday evening, issuing executive orders that threaten to ban both TikTok and massive global messaging app WeChat.

The big picture: Trump's orders come against a backdrop of heightening tension with China, the steady unfolding of a hard "decoupling" between the world's two largest economies, and the Trump campaign's effort to wave a "tough on China" banner.

Updated 37 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 19,128,901 — Total deaths: 715,555— Total recoveries — 11,591,028Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 4,884,406 — Total deaths: 160,111 — Total recoveries: 1,598,624 — Total tests: 59,652,675Map.
  3. Politics: Trump floats executive action even if stimulus deal is reached.
  4. Business: U.S. economy adds 1.8 million jobs in July — Household debt and credit delinquencies dropped in Q2.
  5. Sports: The pandemic's impact on how sports are played.
  6. 1 🎮 thing: Video gaming growth soars.