Aramco valuation under threat from Paris climate deal
The valuation of Aramco, which is preparing to float next year, could be substantially reduced — to about $940bn to $1.5tn — as compared with $2tn expected by the Saudi Arabian government, warns Oil Change International. This stems from the risk to global crude oil prices under the Paris climate deal. (FT)

BlackRock and Vanguard lead ETF rush
BlackRock and Vanguard benefited the most from a rush into exchange -traded funds, as investors pumped in $391bn into ETFs year-to-date, according to ETFGI data. BlackRock’s iShares and Vanguard’s ETF unit garnered $158.9bn, and $91.8bn, respectively, year-to-date. (FT)