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Business Highlights

After boost from Perry, backers

got huge gas deal in Ukraine

KYIV, Ukraine (AP) — Ukrainian documents obtained by The Associated Press show two political supporters of Energy Secretary Rick Perry won an oil and gas exploration contract from Ukraine, just weeks after Perry proposed one of the men as an adviser to the country’s new president. While they offered millions of dollars less to the government than their only competitor for the drilling rights, a government-appointed commission determined they had greater technical expertise and stronger financial backing.

China’s Alibaba, JD report

booming Singles Day sales

BEIJING (AP) — Chinese e-commerce giants Alibaba and JD.com have reported more than $60 billion in sales on Singles Day, an annual marketing event that has become the world’s busiest online shopping day. Monday’s event began as a joke holiday in the 1990s as an alternative to Valentine’s Day for people without romantic partners. Alibaba, the world’s biggest e-commerce company, and rivals including JD.com have made it an annual event.

Saudi Aramco takes another

step toward 1st public offering

DUBAI, United Arab Emirates (AP) — Saudi Arabia’s state-owned oil giant Aramco released a lengthy document late Saturday that lays the ground for investors to buy into the world’s most profitable company, but it remains unknown how much is on offer. In its preliminary prospectus, Aramco revealed that it will sell up to 0.5% of its shares to individual retail investors. It did not indicate how much will be made available to institutional investors.

Boeing details steps needed

to get grounded Max jet flying

Boeing says it has several key steps left before the grounded 737 Max can fly again. Among them is one or more test flights to demonstrate its work to federal safety regulators. Boeing also must finish updating pilot-training requirements, which it expects will happen in January. Some key airline customers don’t expect the Max to carry passengers until March — about a year after the first of two crashes that 346 people.

A Whole New World: Disney

streaming debuts with hit brands

NEW YORK (AP) — Disney will sprinkle its pixie dust on the streaming arena Tuesday, launching a $7-a-month streaming service called Disney Plus. The service will have an arsenal of marquee franchises including Marvel and Star Wars and originals with a built-in fan base. While consumers might be reluctant to drop an existing service such as Netflix or Amazon Prime to pay for something untested, experts believe Disney has better odds than fellow newcomers like HBO Max and Peacock.

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