Nov 5, 2017

Saudi prince and tech investor reportedly arrested amid government shuffle

Prince Al-Waleed bin Talal Bin Abdulaziz Alsaud, Chairman of the Alwaleed Bin Talal Foundation, right. Photo: Farah Abdi Warsameh / AP

Saudi Arabia's King Salman has fired a slew of princes from their government posts in what has been billed as an anti-corruption move, per state-linked network Al Arabiya. Though not directly linked, the anti-corruption campaign is taking place just as Saudi Aramco is preparing an IPO next year which will likely be the largest ever. The company will list its shares on its domestic exchange, as well as a foreign one.

Background: Additionally, high-profile billionaire Al-Waleed bin Talal has reportedly been arrested as well, according to the Wall Street Journal. Al-Waleed's business ties and investments through his Kingdom Holding Company are far and wide. In addition to majority ownership in media conglomerate Rotana Group, Al-Waleed's investments in technology and media over the years have included News Corp., Twitter, Lyft, Fox News, Citigroup, and Apple.

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First U.S. service member dies from coronavirus

Photo: Yasin Ozturk/Anadolu Agency/Getty Images.

The Pentagon on Monday announced the death of a member of the New Jersey National Guard who tested positive for the coronavirus.

Why it matters: It's the first U.S. service member — active, reserve or Guard — to die from the virus, according to the Pentagon. The guardsman passed away on Saturday after being hospitalized for the novel coronavirus on March 21.

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Texas oil regulators poised to debate historic production controls

Workers extracting oil from oil wells in the Permian Basin in Midland, Texas. Photo: Benjamin Lowy/Getty Images

Texas oil regulators are likely to hold a hearing in April on whether to take the historic step to curb the state’s oil production amid a global market collapse fueled by the coronavirus.

Driving the news: Ryan Sitton, one of three commissioners of the Texas Railroad Commission, which oversees state oil production, told Axios that a hearing will likely be held soon in response to a renewed request earlier Monday from two oil companies to limit production as one way to stem the steep slide in global oil prices.