alwaleed bin talal was one of those arrested. e seen as a power play by the saudi crown prince, mohammed bin salman. ministers say climactic factors impact human health. after meeting in a ran today, they came to an agreement that climate and environmental factors can aggravate health risks and create new threats. the ministers also said there was a need for greater awareness on the issue. global news 24 hours a day powered by more than 2700 overalists and analysts in 100 20 countries. i am mark crumpton. this is bloomberg. rising to.s. stocks new highs. energy stocks were the big gainer today. joe: rising oil prices one of the key stories. scarlet: what did you miss? anniversaryng the of the revolution, an uprising that triggered a civil war, devastated the country and read drew its borders. joining us is chief economist charlie -- at renaissance global, charlie robertson. joe: great to have you back on the show. why are we talking about this? why is this something you thought it would be worth going back to the data of the time?

alwaleed bin talal is that the forefront of these arrests. i want to give you some context. leed bin talal is the 50th richest man in the world. you are looking at not just domestic assets, but international assets. we put this in a graph to rank it down and detail, citigroup, twitter, some innovative yft and the in l legacy investment and 21st century fox. , the savoy of hotels and london, the plaza new york, investment in the fifth-largest bank. fromng us now is geopolitical futures like out of washington, dc. is this crown prince moving to boldly, to quickly? >> he's definitely moving to boldly and to quickly. in fact that level of change in such a short time, the risk to instability rises accordingly. what kind ofis resistance will he face from within the house of saud. so far he has not seen any resistance, and the fact that he andsted these princes businessman, that suggests that he is unlikely to facing the opposition. yousef: doesn't he score positive points with the public if he comes out against corruption as the head of this new committee that is looking into cases

part of this, of course, is the fact that alwaleed bin talal investor in such things aggies twitter and citibank, has been outspoken from saudi arabia and many under the surface here especially royal circles are uncomfortable with how outspoken he ho he has been. wondering if this is a power approach or the part of the son of the king to move this economy sfard and show corruption will not be tolerated. guys? >> certainly a new era there in saudi arabia. hadley, thank you. >> just ahead, we'll have an update for you on today's weather, plus more details on the deadliest mass shooting in texas history. you're watching "early today." and at our factory in boston, 1,200 workers are starting their day building on over a hundred years of heritage, craftsmanship and innovation. today we're bringing you america's number one shave at lower prices every day. putting money back in the pockets of millions of americans. as one of those workers, i'm proud to bring you gillette quality for less, because nobody can beat the men and women of gillette. gillette - the best a man can get. people would sta

is thatthe message alwaleed bin talal or other private sector participants, mohammed bin salman willtr investors the important thing is the oil price has been moving higher, so we did have a pop, but the oil price is a function of fairy strong economic demand around the world. got another confirmation in the nonfarm payrolls friday and unemployment at a 40 year low. demand a strong. right, so big story we are following. we talked about the oil price at the top of the show. the most bullish signal, the spread the front end contract and the backend now at the whitest in years. equity markets reacted in saudi arabia. this is a simple today look. 2% thatn initial dip of quickly reversed into the close, and then some. out 22 points at the close. we will see how this market moves. market at the highest level in two years has prince mohammed bin salman moves to consolidate power. yousef gamal el-din is an riyadh. it was a massive weekend. what is happening now? riyadh, this is a country holding its breath. rush hour traffic lighter than usual. what is one of the most sweeping reforms and on

prince alwaleed bin talal, luxury hotelier himself. at least 11 princes. tional guard. his young cousin, mohammad bin salman, is driving this spectacular dragnet. for the last two years building files on alleged corruption, abuses of power, while consolidating his own power. i'm taken to meet one suspect. he doesn't give me his name. says he spends his time with his lawyer, focusing on his case, i'm told not to ask about it. but i get a briefing. senior officials conducting this crackdown say it's not a formal investigation yet. they call it a friendly process. but it's clearly fraught. we're being told that when people were brought here around midnight on novemberfour, they were understandably angry. some of them thought this would just be a show. and it wouldn't last. and then when they realised they were here to stay, they were furious, almost everyone here, 95% i was told, are willing to make a deal to give back what are said to be substantial sums of money in order to get out of here. and so far, seven people have walked free. i was told they proved th

is it like the savoy hotel, owned by prince alwaleed bin talal, known as the saudi warren buffett. has sent shock waves through the kingdom. they have long been viewed as untouchables. the king authorise the move many say to sharat the power of his son, and air, crown prince mohammed bin salman. he is seen by many, especially the young is a breath of fresh air. by spearheading these purge he has put the old elite on notice. he's touching a raw nerve in the royal family and in his many cousins. that not only is the charge but he will have the following of the people in the pursuit of his agendas. that is a really important and significant question, where the belief to tackle issues like corruption. there may be considerable support both inside and outside the country. these arrests leave no rival to challenge the prince to the throne. he will ultimately be responsible for the many challenges in the country faces like diversified the oil economy and managing its neighbour khaka and the ongoing and seemingly unwinnable war in yemen. a missile launched towards the capital, a sign of ou

assets like london‘s savoy hotel, owned by prince alwaleed bin talal, known as the saudi warren buffettkingdom‘s elite, who have long been viewed as untouchable. king salman authorised the move by royal decree, many say, to shore up the power of his son, and heir, crown prince mohammed bin salman. prince mohammed is seen by many, especially younger saudis, as a charismatic visionary and a breath of fresh air. it‘s clear he intends to use his growing power and, by spearheading this purge, he has put the old elite on notice. he‘s touching that very raw nerve in the royal family, but also amongst his many cousins and so on. that not only is he in charge but he will have the following of the people in the pursuit of his agendas. now, whether this will losen the foundations of power, inside arabia, that is a really important question, a significant question, but where it really begins to tackle issues like corruption, like social change, there may be considerable support both inside and outside of the country. these arrests now leave no rival to challenge the crown prince to the throne and g

among those arrested is multi- billionaire prince alwaleed bin talal, a nephew of king salman, who controls arab satellite television networks and owns stakes in citigroup, apple, twitter, ebay, news corp, and time warner. those arrested are being held in five-star hotels in the saudi capital of riyadh. for more on the saudi purge, i am joined here in the studio by gary sick, who served on the national security council under presidents ford, carter, and reagan. he's now a senior research scholar at columbia university's middle east institute, and an adjunct professor at the school of international and public affairs. why do there purge? >> you know, that's the big question. they say it's all about corruption. i really don't believe that. tucked in among those people who were arrested were at the hand of the national guard which is the one remaining military group that wasn't under control of the crown prince already and i think this provided excellent cover to get him out of the way. they arrested just a couple of weeks ago, ten days ago a huge number of clerics and liberal minded reformers

prince alwaleed bin talal, luxury hotelier himself. at least 11 princes. ng this spectacular dragnet. for the last two years building files on alleged corruption, abuses of power, while consolidating his own power. i‘m taken to meet one suspect. he doesn‘t give me his name. he says he spends his time with his lawyer, focusing on his case, i‘m told not to ask about it. but i get a briefing. senior officials conducting this crackdown say it‘s not a formal investigation yet. they call it a friendly process. but it‘s clearly fraught. we‘re being told that when people were brought here around midnight on november ath, they were understandably angry. some of them thought this would just be a show. and it wouldn‘t last. and then when they realised they were here to stay, they were furious, almost everyone here, 95% i was told, are willing to make a deal to give back what are said to be substantial sums of money in order to get out of here. and, so far, seven people have walked free. i was told they proved their innocence. many saudis welcome an end to the rampant

mark: what does this mean for alwaleed bin talal? >> they have taken a significant hit, 12% over the last two days. in terms of what it means going forward, it is unclear. we don't know what it is he is being accused of. might be freed, he might be exonerated. it remains to be seen. mark: generally, market reaction, summit up -- some it up -- sum it up for us. the implications are that it has created a sense of uncertainty. it is the suddenness and the scope of it that is surprising. it is uncertainty that investors shy away from. youl this settles down, might see investors continue to stay on the sidelines and weight for they use the opportunities that seem to open up in saudi arabia and putting their money and. vonnie: we had yemen targeting a airport and the lebanese prime minister resigning. are any of these connected? >> it is hard not to draw connections. rocket may have been a coincidence. the prime minister of lebanon has added to the sense of uncertainty. he was in saudi arabia. in saudi arabia, he read a statement in which

among those held is the country's richest investor, billionaire prince alwaleed bin talal, and his mostt remaining rival to the crown prince's power, prince mutaib bin abdullah, son of the late king. very few have been allowed into the hotel, turned prison, but our international correspondent, lyse doucet, was given rare access. we drive in under police escort, just past midnight. no one enters here now without official permission, the world's most talked about hotel. riyadh's most palatial, most prestigious, now a gilded prison. i'm taken in by saudi officials and told, don't film faces and don't record conversations. here in the early hours of the morning, there's still people in the lobby drinking coffee, as you would find in any of the 5—star hotels here in the capital. most of the people who have now been forced to stay here are keeping to themselves. trying to limit any further damage to their reputation. their mobile phones have been taken away from them, but there is a hotline that is available to them. they can call their lawyers, family members, even leading members of the com

prince alwaleed bin talal and others of businessmen are under arrest.ast week, the house of commons approved a motion calling for government research to be shown to members of the brexit committee. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm emma chandra. this is bloomberg. mark: coming up on "bloomberg stunning weekend of events in saudi arabia, features in focus is next. this is bloomberg. ♪ ♪ live from new york and london, i am vonnie quinn. mark: i am mark barton. time for futures in focus. oil remaining near a two-year high. tensions swirl around saudi arabia. joining us is the president of the r epstein position. does this saudi story support this geopolitical risk premium on oil right now? >> is an interesting story. there are two ways to look at it. -- a's looking at it as cleansing of house, a better way to do business. i have a different point of view that should be brought out. if you have the kingdom willing to do this to family and so on, as a minority shareholder in a compa

among those detained, one of the world's richest investors prince alwaleed bin talal, and prince mutaib you think is going on? these are absolutely seismic changes for saudi arabia. a country not used to sudden and big change, they're getting it in the space of 48 hours, a missile attack on riyadh airport. helicopter crash where prince ‘s eye. this extraordinary public humiliating round—up of establishment figures. people right at the top of saudi society. they are people who stand in the way the prince ‘s total mass mentor power for himself. in terms of business, the most important person, whose wealth is estimated at $25 billion, he is now reportedly being detained in great comfort, it has to be said at the ritz—carlton hotel in riyadh, alongside 30 others. the most important political figure prince abdullah, heading the national guard in saudi arabia. the national guard is almost like a third force. it is the praetorian guard, that offends the praetorian guard, that offends the interest of the ruling family. whoever controls that is really in charge of the internal power base. he has

the highest profile royal arrested was prince alwaleed bin talal. a oh spoken billionaire with investments in many western companies. ashley webster joins me. >> remarkable development, really remarkable. it is about the crown prince mohammed bin salam, or saloman. mbs he known by. he is trying to solidify his power base. is it he doing it for corruption or trying to sideline rivals? doesn't matter. either way he is concentrating his power in an effort to make this country more open to the west. he is replaced a lot of old government ministers with western-educated technocrats. he is being very aggressive but the speed of all of this is a little shocking to those especially in saudi arabia where change does not come very quickly. trish: that is interesting, alwaleed, he is somewhat open to the west because he has so many western investment. >> yes. trish: perhaps he is also a threat and rival. >> i'm not sure what is going on there. we don't know where he is. there are several reports, where is he? they are using the ritz-carlton in riyadh as place

the most high profile of these targets, well, many of our viewers may know the name of prince alwaleed bin talale business they're businessman and owner of kingdom holding that company has stakes in companies like citigroup, twitter, apple and news corp. other big name news people, the chairman of the bin laden group, a major construction firm here in the kingdom. and the saudi media mogul, waleed al ibrahim. also out, as you rightly point out, not just business people, but prince abdullah from his post as head of the elite national guard. critics are going to say that the crown prince has taken the opportunity to remove any challenges to his leadership. but let's just consider within the wider context of the past couple of years. i clamped down on the religious establishment, curbing the powers of the religious police. i with us here only six, seven weeks ago when the public space was announced as being opened up to the women driving by next summer, for example. so, christine, we're looking at a consolidation of power, yes. pushing back on the religious establishment here, yes. a two-wronged ap

your thoughts maybe in general then on the saudi crackdown that we saw this weekend, prince alwaleed bin talaltor in twitter and global ramifications for investors. >> i don't want to get into foreign policy i think twitter is very well run, we're intrigued by it, but it's not inexpensive yet we want to see advertising turn and whether they can increase the dau growth, and i want to stay away from the rest of that topic. >> what about snap >> i think snap's got some interesting ip also, but once again, they haven't developed a good advertising model i think when guys get out of business school or get out of tech school, they want to go to work for facebook. they want to go to work for alphabet i don't know whether snap is able to attract the kind of talent, the deft of talent, you know, the companies that i think are going to do well are the ones attracting a lot of talent, engineering talent and business talent that's what we're going to look to but i think we continue to look at these things, because we try to keep an open mind >> snap reports tomorrow night twitter upgraded today, not helpi

among those arrested was prince alwaleed bin talal, one of the world's richest people, with an estimated worth of at least $17 billion. talal has investments in many well-known u.s. companies, like apple, twitter, citigroup, and rupert murdoch's media empire news corp. the arrests, on unspecified corruption charges, came just hours after the crown prince convened a new anti-corruption committee with wide-ranging powers to detain and arrest anyone accused and to search their homes and seize their assets. the arrests came as the white house said president trump called king salman to offer thanks for the kingdom's purchases of billions of dollars in u.s. weaponry, while praising what it called the kingdom's modernization drive. after these arrests and the consolidation of the prince's power, trump tweeted his support for the saudi arrests, writing -- "i have great confidence in king salman and the crown prince of saudi arabia, they know exactly what they are doing. some of those they are harshly treating have been milking their country for years!" jones,to turn to toby who is associate prof

the 32-year-old ordered the arrests of more than a dozen, including prince alwaleed bin talal, a billionaire has major investments in citigroup, twitter and apple. prince mutaib bin abdullah, the former national guard chief and most obvious rival. it's not the first house of saud shakeup, but it's the most rapid. and it centralizes mohammad bin salman's power over the military and security services that began earlier this year, when he replaced mohammed bin nayef, the former heir to the throne. state tv announced the arrests and accused the princes of embezzlement and stealing public money. that was a message to a saudi population that's sick of ostentatious royal wealth, and eager for reform. that reform is what mohammad bin salman is selling, as state owned oil company aramco plans to go public and diversify. mohammad bin salman has vowed to modernize, and fight extremism. >> ( translated ): we only want to go back to what we were: moderate islam that is open to the world, open to all the religions. 70% of the saudi people are younger than 30 and, quite frankly, we will not waste 30 years

among the arrests, prince alwaleed bin talal.ig investor in this country including twitter and twenty-first century fox. i've been to the kingdom many times. i covered the saudi arabia many times. two-ways to look at this. it is modernization and crackdown on any sort of corruption that may be going on or a consolidation of power as there are some princes. this is about who is in charge, who will take over next. what do you read into this? >> well, melissa it it is a little bit of both. i like you stayed in the four seasons in riyadh and i didn't feel like i was in a high security prison for sure. he signaled change is coming. he is arresting moderate call creatures which is controversial in a religious country like saudi arabia. he has a war in yemen. he has a boycott against accoun, who they believe undermining the royal regimes in the arabian gulf. he has ipo for aramco that opens up the oil sector to international investment. there are some balls in the air that he send as signal to the business community things are changing.

prince alwaleed bin talal. forbes puts him as the 45th richest man on the planet with a net worth of $16 billion. call it $17 billion. he's got major stakes in american companies including twitter, motorola, lyft, siti, apple. he remains one of the top in citi group. analysts argue the takeover of his assets could create a new dynamic on wall street allowing room for new investors to sit at the table. since then -- has made traders uneasy, rattled the market nap is why you're starting to see the price of oil increase. for more on this, nbc's keir simmons joins us now. keir, that's some of the financial implications of it. but what is probably more important is that saudi arabia is in the midst of a lot of other things going on. there's a global implication to this as well. >> absolutely right. what i think you're seeing in the financial markets is a reaction to the uncertainty. people do not know how this is going to play out. and many people don't feel fully, you know, across exactly what is going on within th

came in saudi arabia's surprised corruption crackdown led to the arrest of a saudi prince, alwaleed bin talalom holdings, is the co-owner of before season hotels and the plaz new york plaza hote. we want to bring in our guest. this is a story you were editing.how did you come up with this ? there are a lot of examples around the world, but how did you come to put it under the umbrella of shifting geopolitical winds? >> our reporter was on top of it and basically looked into the has ownedthe prince by a decade now with bill gates's company and the founder and just want to look at the hotel. he has been affected. his ownership. china has been making huge investments in hotels in the u.s. the last couple of years. , the president of this country is a hotel owner and has been affected by geopolitical shifts also. joe: what are we seeing about the actual performance of hotel chains? obviously, hotels in the crosshairs. a lot of interesting geopolitical things happening right now. for the actual business in terms of how much money they are making an room prices and all of that, how is that being af

at least 11 princes including prominent billionaire and investors prince alwaleed bin talal were arrested over the weekend. they were carried out by the powerful new anti-corruption committee, headed by the crown prince salman, the country's future king. walid is the one of the world's richest hest men. previously he held a 5% stake in twenty-first century fox, parent company of fox business network. as of yesterday he held zero percent. following the prince alwaleed's arrest, they say they have confidence in the company, writing in part, i'm not surpised by the government's vote of confidence as khc pursues the investment strategy and global business operations. i would also like to emphasize that khc's experienced and seasoned team of and experienced executives leaders in their respective fields are focused on the unwaivering responsibility to khc shareholders and stakeholders. some of those arrested are reportedly being held in riyadh's ritz-carlton, which stopped accepting new bookings, and told paying guests, to leave. connell: another interesting part of the story, gee, not exactly

isnce alwaleed bin talal especially sensitive.ere is no way of telling of where this goes from here. investors will say, i will wait to see how this plays out. tom: we watched this unfold over the weekend. thew it remarkable to see events, including the prime minister in fear for his live, the missile attack, the speculation about "a missile or missiles attack from yemen." wheere these linked? was the prime -- was the crown prince able to say, this was the last straw? yousef: there is no tangible evidence at this time. we are not hearing that at this point from investors. it was a ballistic missile that flew over the skies of riyadh and that is not something that happens often. it is significant that you point out the external challenges. this is not just a domestic situation. you have the gulf crisis, the crisis to the south with yemen, and the areas of lebanon and syria, and iraq as well. the region is already boiling, so to add any domestic turmoil will make things mark obligated. tom: yousef, a question, if i may. what does is

. >> including prince alwaleed bin talal.holder of shares in companies, including this network. liz: no-fly list. stuart: reportedly in the ritz-carlton hotel in riyadh. this is breaking. saudi banks have been freezing assets of those detained. this is a very big deal. check the big board. we're points. dow industrials, 23,500. a fresh high for the standard & poor's 500 and fresh for the dow. stocks up this morning, not much but up. look at big tech names. facebook up, amazon, microsoft, apple all up, alphabet down, a tiny fraction, 89 cents. >>> "the wall street journal" reports that amazon is cutting the price on other sellers items, this ahead of holidays. we have a communications chipmaker broadcom offering to buy the mobile chipmaker qualcomm for $103 billion. both stocks are up. this would be the biggest technology acquisition ever if it foes through. sprint downgrade. merger talks with t-mobile completely fall apart. sprint down 13%. where is the price of oil this morning? look at that we're going closer to $56 a barre

alwaleed ben talal, business owner of kingdom holding which has stakes in companies like citigroup, twitter, apple, news corporation. the campaign also ensnaring other big name business people such as the chairman of the binich is a major construction firm here in the kingdom around the sawed media mogul waleed al ibrahim. the crackdown, though, extends well beyond the business world. also out prince bin abdullah from his post as the national guard. he is the son of the late king abdullah. his brother also arrested. senior princes and businessmen then who for decades seem to operate above the law now being held accountable. that is the way certainly the sawed authorities are presenting it here. some observers say the moves are also part of the consolidation effort by crown prince muhammad bin salman. he has been personally appointed as the head of this anti-corruption committee. and critics say he has taken the opportunity to remove any challenges to his leadership. but when you speak to people here in riyadh, many say that this fight against corruption is real. it undermines the country's potential, that corruption, and it will be hugely supported by many of the young generation of saudis. 70% of them ar