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☆ Woods joins PGA Tour's policy board as player director
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +3 min

"Tiger's voice and leadership throughout his career have contributed immeasurably to the success of the PGA Tour, and to apply both to our governance and go-forward plan at this crucial time is even more welcomed and impactful," said PGA Tour Commissioner Jay Monahan. "I am honoured to represent the players of the PGA Tour," Woods, who is recovering from ankle surgery in April, said in a news release. The announcement comes nearly two months after the golf world was left stunned by the announcement of a framework agreement between the PGA Tour and Saudi Arabia's Public Investment Fund, which controls LIV Golf. According to the PGA Tour, the players and Monahan will work together to amend the Policy Board's governing documents to make it clear that no major decision can be made without the involvement and approval of the player directors. Reporting by Frank Pingue in Toronto Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

Persons: Woods, Mike Blake, Patrick Cantlay, Charley Hoffman, Peter Malnati, Rory McIlroy, Webb Simpson, Jay Monahan, LIV, Monahan, Colin Neville, Scottie Scheffler, Jon Rahm, Japan's Hideki Matsuyama, Jason Day, Adam Scott, Frank Pingue, Christian Radnedge Organizations: Golf, Reuters, PGA, Saudi Arabia's Public Investment Fund, PGA Tour, PIF, Thomson Locations: Augusta , Georgia, U.S, Toronto

☆ CNBC Daily Open: Alphabet soars as Microsoft sinks
▼ + stars: | 2023-07-26 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Alphabet soars on cloud growthAlphabet shares rose around 6% in extended trading after the company reported better-than-expected revenue and profit. Second-quarter revenue rose 7% year over year to $74.6 billion, boosted by a 28% jump in revenue in Google's cloud unit. Soft guidance from MicrosoftInvestors were disappointed by Microsoft's revenue guidance for its upcoming fiscal quarter, pushing shares down 7% in extended trading.

Persons: dispelling, Satya Nadella, Australia's, Hilal, Kylian Mbappé, Paris Saint, Germain, Cristiano Ronaldo, Goldman Sachs Organizations: CNBC, Microsoft Investors, Microsoft, Fed U.S, Dow Jones Industrial, Saudi, Al, Saudi Arabia's Public Investment Fund Locations: Asia, Pacific, Saudi Arabian, Paris, Al

☆ Kuwait to set up new sovereign fund to develop mega projects and local economy
▼ + stars: | 2023-07-16 | by ( Ahmed Hagagy | ) www.reuters.com time to read: +2 min

KUWAIT CITY, July 16 (Reuters) - Kuwait plans to establish a new sovereign fund to develop its local economy, spearhead mega projects, and attract funds from foreign investors and the private sector, according to a government plan seen by Reuters on Sunday. The government has tasked the Ministry of Finance and the Kuwait Investment Authority (KIA) with studying plans for the proposed fund, dubbed Ciyada, Arabic for sovereign, the document says. Ciyada Development Fund will be used to spearhead domestic investments, intended to fuel economic development and diversify Kuwait's economy, the document says. Ciyada would accelerate Kuwait's economic growth, promote transformation and progress in various fields of development, through strategic planning and implementation of major development projects, the document says. Abu Dhabi for instance in 2002 created Mubadala Development Co to diversify the emirate's economy and accelerate development.

Persons: Mubadala, Prince Mohammed Bin Salman's, Ahmed Hagagy, Hadeel Al Sayegh, David Holmes Organizations: KUWAIT CITY, Reuters, Sunday, Ministry of Finance, Kuwait Investment Authority, Ciyada, Kuwait Investment Office, Reserve Fund, Fund, Government, International Petroleum Investment Co, Mubadala, Saudi Arabia's Public Investment Fund, Thomson Locations: KUWAIT, Kuwait, Abu Dhabi

☆ Lucid's second quarter deliveries fell short of estimates amid demand concerns
▼ + stars: | 2023-07-12 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Visitors walk at the Lucid Air during the Mobile World Congress 2023 (MWC), the telecom industry's biggest annual gathering on February 28, 2023 in Barcelona, Spain. Luxury electric vehicle maker Lucid Group said Wednesday that it delivered 1,404 of its Air sedans to customers in the second quarter, a bearish update amid demand concerns. Lucid's second-quarter deliveries compare with 1,406 deliveries in the first quarter of 2023 and 679 in the second quarter of 2022. Wall Street analysts polled by FactSet had expected Lucid to deliver about 2,000 Airs in the second quarter. Lucid's stock has fallen about 58% in the last year through Tuesday amid growing concerns about demand for the Air luxury sedan.

Persons: FactSet, Wall, Peter Rawlinson, Lucid, Aston, Aston Martin Organizations: Mobile, Lucid, Wall Street, Air, Aston Martin, British, Saudi Arabia's Public Investment Fund Locations: Barcelona, Spain, U.S

☆ The global golf megamerger looks even more confounding after a 3-hour grilling in front of Congress
▼ + stars: | 2023-07-12 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

Big questions remain, especially as to why the PGA Tour took the Saudi money without looking elsewhere. The PGA Tour's deal with LIV Golf and Saudi Arabia's Public Investment Fund (PIF) is just an agreement to seek an agreement. This all started when LIV Golf, with golf legend Greg Norman at the lead, started offering PGA Tour players vast sums of money to jump to the new Saudi-backed golf league. The PGA Tour, a non-profit, just did not have the resources to compete with the deep pockets of the Saudis. PGA Tour Commissioner Jay Monahan has yet to testify before Congress.

Persons: LIV Golf, Greg Norman, Sergio Garcia, LIV, Chris Trotman, Sen, Richard Blumenthal, Conn, Tom Williams, Jodi Balsam, Balsam, Jay Monahan, Rob Carr, Jimmy Dunne, Eamon Lynch, Golfweek, Lynch, It's Organizations: Service, LIV, Tour, PGA Tour, Saudi Arabia's Public Investment Fund, PGA, Royal Greens, & Country Club, King Abdullah Economic, Inc, Getty, Brooklyn Law School, NBA Locations: Wall, Silicon, Saudi, Jeddah, King Abdullah, King Abdullah Economic City, Saudi Arabia, PIF

☆ Lucid shares drop as deliveries take hit from Tesla's price war
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

July 12 (Reuters) - Lucid Group (LCID.O) said its second-quarter production dropped from the previous three months while deliveries stayed flat, sending the shares of the luxury electric-vehicle maker down about 6% on Wednesday. The Saudi Arabia-backed startup has been struggling to ramp up production in the face of supply chain issues, while a price war started by market leader Tesla (TSLA.O) in January has intensified competition. Lucid delivered 1,404 vehicles in the quarter to June 30, compared with 1,406 deliveries in the previous quarter. The company had trimmed its 2023 production forecast and reported a lower-than-expected first-quarter revenue in May as it took a hit from Tesla's price war and rising interest rates. The company said it would report financial results for the second quarter on August 7 after markets close.

Persons: Tesla, Lucid, Aston Martin, Akash Sriram, Arun Koyyur Organizations: Air, Elon, Saudi Arabia's Public Investment Fund, Thomson Locations: Saudi Arabia, Bengaluru

The PGA Tour on Tuesday defended its controversial deal with the Saudi-backed LIV Golf league before senators, as scrutiny of the agreement intensifies. Representatives from LIV Tour and Saudi Arabia's Public Investment Fund wasn't present at the hearing because CEO Greg Norman is out of the country, according to a spokesperson. PGA Tour operating chief Ron Price and policy board independent director Jimmy Dunne testified before the Senate Homeland Security Committee's subcomittee on investigations. Dunne and Price said they believed the PGA Tour would benefit the most from the proposed deal. The PGA Tour would manage competitions, and has said it is leading the negotiations to reach a finalized deal.

Persons: LIV, Greg Norman, Ron Price, Jimmy Dunne, Dunne, Price, Yasir Al, Rumayyan, Sen, Richard Blumenthal, Conn, It's, Blumenthal, Norman, Ron Johnson, Johnson, CNBC's Organizations: LIV Golf, LIV Tour, Saudi Arabia's Public Investment Fund, PGA Tour, Senate Homeland Security, Comcast, Paramount Global, Disney, Warner Bros, Capitol, PIF Locations: Saudi, American, Yemen

☆ Jabeur says now or never for Saudi Arabia to invest in the sport
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +2 min

Saudi Arabia has pumped huge amounts of money into soccer, Formula One and boxing in recent years while the Saudi-backed LIV Golf circuit recently ended its two-year dispute with the PGA Tour and DP World Tour by announcing a merger. I hope in Saudi they'll not just invest with the ATP, I hope with the WTA (too)," Jabeur said after beating Magdalena Frech 6-3 6-3 in her Wimbledon opener. Critics have accused Saudi Arabia of using the PIF to engage in "sportwashing" amid criticism of its human rights record. "I believe in Saudi they're doing great giving women more rights," 2022 Wimbledon runner-up Jabeur added. Men's world number one Carlos Alcaraz said he would have no doubts about competing in Saudi Arabia, while seven-time Grand Slam champion John McEnroe said tennis should not seek Saudi investment.

Persons: LIV, Steve Simon, Andrea Gaudenzi, Jabeur, Magdalena Frech, Critics, Saudi they're, It's, Carlos Alcaraz, John McEnroe, Andy Murray, Shrivathsa Sridhar, Toby Davis Organizations: PGA, WTA, men's ATP, Saudi Arabia's Public Investment Fund, Wimbledon, Saudi, Thomson Locations: Saudi, Saudi Arabia, Saudi they'll, Bengaluru

☆ 2 top PGA officials will testify before Congress about the golf league's controversial merger with the Saudi-backed LIV tour
▼ + stars: | 2023-07-03 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Two top PGA officials will testify before Congress about the association's controversial merger. Tour COO Rob Price is among the officials that will testify before a Senate subcommittee on July 11. "We look forward to appearing before the Senate Subcommittee to answer their questions about the framework agreement that keeps the PGA TOUR as the leader of professional golf's future and benefits our players, our fans, and our sport," PGA Tour spokesperson Joel Schuchmann said in a statement to Insider. Norman played an integral role in LIV golf, enduring public criticism for taking on the PGA and partnering with Al-Rumayyan. "In fact, prior to this agreement, PGA Tour was one of the loudest critics of LIV Golf's affiliation with Saudi Arabi."

Persons: Rob Price, Democratic Sen, Richard Blumenthal, —, LIV, Sen, Ron Johnson, Jimmy Dunne, Joel Schuchmann, Blumenthal, Johnson, bin Othman Al, Greg Norman, Norman, Chris Murphy, Jay Monahan, LIV Golf's, Tiger Woods, Woods Organizations: Democratic, Service, Capitol, Republican, PGA, Al, LIV, Saudi, Connecticut Democrat, Twitter Locations: Saudi, LIV, American, Connecticut, Saudi Arabi

☆ Murray surprised by lack of female coaches, questions ATP's Saudi plans
▼ + stars: | 2023-07-01 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 1 (Reuters) - Former world number one Andy Murray said he was surprised there were not more female coaches in the sport, having found success by working with Frenchwoman Amelie Mauresmo in the past. "It's strange, I'm probably surprised there's not more female coaches across both (men's and women's) Tours," Murray told reporters on Saturday ahead of the Wimbledon championships. "I didn't necessarily think at the time that it was for sure going to spark loads of new or more female coaches to come into the game. "Then hopefully that transitions onto the men's and women's tour a bit more," he added. "I don't even know that it would be a handful of female coaches across both tours, which is not enough."

Persons: Andy Murray, Frenchwoman Amelie Mauresmo, Mauresmo, Murray, Scot, I'm, there's, it's, Andrea Gaudenzi, Rohith Nair, Ken Ferris Organizations: Wimbledon, Saudi Arabia's Public Investment Fund, Thomson Locations: Saudi Arabia, Bengaluru

☆ WTA chief says 'big issues' going to Saudi Arabia, but ruling nothing out
▼ + stars: | 2023-06-30 | by ( Martyn Herman | ) www.reuters.com time to read: +3 min

But Simon points to the success of WTA tournaments in Qatar and says Saudi Arabia has made 'huge strides'. "In February I went to Saudi Arabia to see it for myself. There are still tons of issues in Saudi Arabia but the advancement for women's rights and where they are coming from is transformational right now. Simon would not speculate on what kind of tournaments could potentially be held in Saudi Arabia, if at all. Simon said had no concerns about the safety of lesbian players competing in Saudi Arabia, but conceded it was a sensitive issue.

Persons: Steve Simon, They're, Simon, Andrea Gaudenzi, they've, Billie Jean King, Daniil Medvedev, Stan Wawrinka, Carlos Alcaraz, LIV, Martyn Herman, Christian Radnedge Organizations: Women's Tennis, WTA, ATP, Saudi Arabia's Public Investment Fund, American trailblazer, PGA, Thomson Locations: Saudi Arabia, Gulf, London, Saudi, Qatar

☆ Lucid CEO says Aston Martin EV tech deal is just the beginning
▼ + stars: | 2023-06-28 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

"This (deal) really kicks off that wing of the Lucid Group's business," CEO Peter Rawlinson told Reuters. Lucid's initial focus will be on providing high-performance, ultra-high voltage technology that would not be suitable for the mass-market, reflected in the Aston deal, Rawlinson said. However, he continued, its business licensing out parts should grow as the company moves to more mass-market models. Aston and Lucid share a common shareholder in Saudi Arabia's Public Investment Fund (PIF), but Rawlinson said the Saudi wealth fund played no role in the deal. "Aston Martin had options and they chose quite independently what they felt is the best technology available on the planet," he added.

Persons: Aston Martin, Peter Rawlinson, Rawlinson, Tesla, I'm, Aston, Nick Carey, Emma Rumney Organizations: EV, Aston, Reuters, Tesla's, Public Investment Fund, Thomson Locations: U.S, Arizona, Croatian, Aston, Saudi

☆ Framework of PGA Tour-LIV golf deal released
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

[1/2] May 25, 2023; Washington, DC, USA; Patrick Reed hits his tee shot on the ninth hole during the Pro-Am tournament as part of the LIV Golf Washington D.C. 2023 event at Trump National Golf Club outside Washington DC. The PGA Tour will have a permanent controlling interest in the subsidiary's board of directors, regardless of the Saudi investment, the framework says. The framework agreement also ends litigation between the two sides. The framework is likely to be a focus of a U.S. Senate panel on July 11 where Monahan, Al-Rumayyan and LIV Golf CEO Greg Norman have been invited to testify. He also wanted to know how any newly formed entity will be structured and operated, including how the PGA Tour intends to preserve its tax-exempt status.

Persons: Patrick Reed, Geoff Burke, LIV Golf, LIV, Yasir Al, Jay Monahan, Monahan, Greg Norman, Richard Blumenthal, Blumenthal, Chris Sanders, David Shepardson, Peter Rutherford Organizations: LIV Golf, Trump National Golf Club, Washington DC, USA, WASHINGTON, PGA Tour, Reuters, Saudi Arabia Public Investment Fund, Saudi Arabia's Public Investment, U.S, Senate, PGA, Saudi, Investigations, Thomson Locations: Washington, DC, USA, LIV Golf Washington, Saudi, Al, Washington . U.S

[1/3] A Lucid Air electric vehicle is displayed in Scottsdale, Arizona, U.S., September 27, 2021. REUTERS/Hyunjoo Jin/File PhotoJune 26 (Reuters) - British luxury carmaker Aston Martin (AML.L) has reached a deal that will give U.S. electric vehicle (EV) maker Lucid Group (LCID.O) a 3.7% stake in the company in return for access to its "high performance" technology, Aston Martin said on Monday. Subject to shareholder approval, Aston Martin will issue about 28.4 million new ordinary shares to Lucid Group. Smaller carmakers such as Aston Martin are more reliant on partnerships to make the transition. Lucid and Aston Martin have a common shareholder in Saudi Arabia's Public Investment Fund (PIF).

Persons: Hyunjoo Jin, Aston Martin, Lucid, Aston Martin's, PIF, Aby Jose Koilparambil, Rashmi Aich, Barbara Lewis Organizations: REUTERS, Lucid, Mercedes, Benz, Aston, Public Investment Fund, U.S, Tesla Inc, Thomson Locations: Scottsdale , Arizona, U.S, Aston Martin, Saudi, Bengaluru

☆ US Senate panel invites PGA Tour commissioner, LIV CEO to testify on merger
▼ + stars: | 2023-06-21 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Nick Lachance/File PhotoWASHINGTON, June 21 (Reuters) - A U.S. Senate panel on Wednesday invited PGA Tour Commissioner Jay Monahan, Saudi Arabia's Public Investment Fund Governor Yasir al-Rumayyan and LIV Golf CEO Greg Norman to testify at a July 11 hearing. The Justice department has been investigating the PGA Tour for trying to keep its players from defecting to LIV. The PGA Tour, DP World Tour and rival Saudi-backed LIV circuit, which had been involved in a bitter fight that split the sport, announced an agreement to merge and form one unified commercial entity. The LIV Golf series is bankrolled by the Saudi Arabia Public Investment Fund (PIV). The PGA Tour and LIV did not immediately respond to requests for comment on Wednesday.

Persons: LIV, Nick Lachance, Jay Monahan, Yasir al, Greg Norman, Richard Blumenthal, Ron Johnson, Blumenthal, Elizabeth Warren, Ron Wyden, LIV Golf, Critics, Jamal Khashoggi, David Shepardson, Mark Porter, Bill Berkrot Organizations: Canadian, PGA Tour, Oakdale, Country Club, REUTERS, WASHINGTON, U.S, Senate, Wednesday, Saudi, Public Investment, Investigations, PGA, Saudi Public Investment Fund, Justice Department, Saudi Arabia Public Investment Fund, Washington Post, Thomson Locations: Saudi, Toronto , Ontario, Canada, Saudi Arabian

☆ Saudi sovereign wealth fund PIF sells McLaren stake to Bahrain -Sky News
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

June 21 (Reuters) - Bahrain's state investment fund Mumtalakat is buying preference shares and warrants worth 400 million pounds ($510.48 million) in carmaker McLaren from Saudi Arabia's Public Investment Fund (PIF) and Ares Management (ARES.N), Sky News reported on Wednesday. The transaction will not lead to any new money being injected into McLaren, the Sky News report said, adding that an announcement from Mumtalakat on the deal will come on Thursday. The purchase will expand Mumtalakat's majority stake in McLaren group, which includes the British supercar maker as well as McLaren Racing. In July 2021, global investment firm Ares Management and Saudi's PIF provided much of a 550 million-pound equity investment in the McLaren group. Ares Management declined to comment, while McLaren and the PIF did not immediately respond.

Persons: carmaker McLaren, PIF, Ares Management, McLaren, Khalid Al Rumaihi, Bharat Govind Gautam, Chris Reese, Matthew Lewis Organizations: Saudi Arabia's Public Investment Fund, Ares Management, Sky News, McLaren, British, McLaren Racing, Reuters, Thomson Locations: Mumtalakat, Bengaluru

☆ Johnson leads LIV charge at U.S. Open, two back of leaders
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +3 min

LOS ANGELES, June 15 (Reuters) - LIV Golf players have made their presence felt at the majors this year and on Thursday it was Dustin Johnson who led the charge with a solid start to the U.S. Open. Two months ago at the Masters, three LIV members finished in the top six, including joint runners-up Brooks Koepka and Phil Mickelson. "The game has been trending in the right direction, and obviously I feel really comfortable over the golf ball rightnow," said Johnson, who won the LIV Golf event in Tulsa last month. There are 15 LIV Golf members in the 156-player U.S. Open field, down from the 18 who teed it up at Augusta National Golf Club and the 16 who played at Oak Hill. But the U.S. Open marks the first major since the bombshell announcement of a partnership between the PGA Tour and Saudi Arabia's Public Investment Fund, which controls LIV Golf.

Persons: LIV, Dustin Johnson, Rickie Fowler, Xander Schauffele, Johnson, Brooks Koepka, Phil Mickelson, Koepka, Tiger Woods, LIV Golf, Frank Pingue, Peter Rutherford Organizations: U.S ., Los Angeles Country Club, PGA Championship, U.S, LIV Golf, Augusta National Golf Club, PGA Tour, Saudi Arabia's Public Investment Fund, Thomson Locations: ANGELES, Saudi, Bethpage, Tulsa, Oak, Toronto

☆ LIV to continue as scheduled in 2024 despite PGA merger, says Johnson
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

June 15 (Reuters) - LIV Golf plans to go through with its schedule for the remainder of the year and 2024 despite the agreement to merge with the PGA Tour, former world number one Dustin Johnson said. The PGA Tour, DP World Tour and rival Saudi-backed LIV circuit announced the shock agreement to form one unified commercial entity last week, bringing an end to a bitter fight that had split the sport. There is uncertainly about how the golf calendar will look next year under the framework of the merger, with some doubts being raised about whether the LIV Golf League team-based competition would even exist after its 2023 season. However Johnson, one of the star recruits of the breakaway circuit, said he learned from Yasir Al-Rumayyan that the circuit would continue next year. Those are private conversations, and I don't know exactly what his future plans are ...

Persons: LIV Golf, Dustin Johnson, LIV, Rory McIlroy, Johnson, Yasir Al, bankrolls LIV, they're, We'll, I'm, we're, Bryson DeChambeau, DeChambeau, Hritika Sharma, Peter Rutherford Organizations: PGA Tour, LIV Golf League, Public Investment Fund, ESPN, Former U.S, Al, Thomson Locations: Saudi, Hyderabad

PGA Tour Commissioner Jay Monahan is taking a leave of absence as he recuperates from a medical condition, the organization said in a statement late Tuesday, just days after the tour announced a deal to merge business interests with the Saudi-backed LIV Golf league. "Jay Monahan informed the PGA Tour Policy Board that he is recuperating from a medical situation," the tour said in a statement. The tour did not specify the nature of his medical condition nor a timetable to return. The PGA Tour and LIV Golf announced last week their decision to merge business operations to create a new golf entity with money from Saudi Arabia's Public Investment Fund. In a statement Wednesday, the PIF said it was informed of Monahan's medical situation and that it wishes him a speedy recovery.

Persons: Jay Monahan, LIV, Jay, LIV Golf, Ron Rice, Tyler Dennis Organizations: LIV Golf, PGA Tour, Board, Saudi Arabia's Public Investment Fund, PGA Locations: Saudi

☆ Senate Democrats press for Justice Department inquiry into PGA Tour-LIV Golf merger
▼ + stars: | 2023-06-14 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

WASHINGTON — Two top Senate Democrats with a track record of scrutinizing business and antitrust activity have called for a Justice Department investigation into the merger agreement between the PGA Tour and Saudi-funded LIV Golf. The letter follows Connecticut Democratic Sen. Richard Blumenthal's inquiries to PGA Tour Commissioner Jay Monahan and LIV Golf CEO Greg Norman for details on the merger. The PGA Tour also insists the deal isn't a merger and that Saudi Arabia's Public Investment Fund will be a minority investor. The deal between the PGA Tour and LIV Golf would put an end to pending antitrust litigation between the two golf organizations. Family members of 9/11 victims have protested the Saudi golf league due to the terrorists' ties to the country.

Persons: Elizabeth Warren, Ron Wyden, LIV, Elizabeth Warren of, General Merrick Garland, Jonathan Kanter, Connecticut Democratic Sen, Richard Blumenthal's, Jay Monahan, Greg Norman, Monahan, LIV Golf, DOJ didn't, Yasir Al, Rumayyan, LIV Golf's, Osama Bin Laden, Prince Mohammed bin Salman, Jamal Khashoggi, Warren, Wyden, –, Jessica Golden Organizations: U.S, Capitol, WASHINGTON —, Democrats, Justice Department, PGA Tour, Saudi, LIV Golf, Oregon, Connecticut Democratic, Saudi Arabia's Public Investment Fund, DOJ, CNBC, PGA, Public Investment Fund, Washington Post, Senate Banking Committee, Finance Locations: Sens, Washington , DC, Elizabeth Warren of Massachusetts, U.S, Saudi, Saudi Arabia

LOS ANGELES, June 13 (Reuters) - Brooks Koepka on Tuesday said he was halfway to his goal for major titles after claiming his fifth at last month's PGA Championship and hopes to add one more at the U.S. Open in Los Angeles this week. "Double digits, that's what I'm trying to get to," the confident American told reporters at the Los Angeles Country Club. The way I've prepared, the way I've suited my game for these things is going to help me. As to whether he plans to rejoin the PGA Tour when eligible to do so next year and if he would advocate for the inclusion of LIV's team golf concept, he declined to speculate. Reporting by Rory Carroll in Los Angeles Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

Persons: Brooks Koepka, Koepka, I've, LIV Golf, I'm, Rory Carroll, Toby Davis Organizations: U.S, Masters, PGA, Los Angeles Country Club, Saudi Arabia's Public Investment Fund, PGA Tour, U.S ., Thomson Locations: ANGELES, Los Angeles, Saudi

☆ Saudi Arabia's PGA merger is likely just the beginning for the kingdom when it comes to pro sports investments
▼ + stars: | 2023-06-13 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

The controversial mega merger between the PGA Tour and Saudi Arabia's LIV Golf is just one step in the kingdom's ambitious tourism and investment strategy — and its pursuit of big-name sports is just getting started. "We're sort of a proponent to find 'all of the above' strategy in sport," Saudi Investment Minister Khalid Al-Falih told CNBC's Dan Murphy in Riyadh. The PIF is Saudi Arabia's Public Investment Fund, a $600 billion sovereign wealth fund controlled by Saudi Crown Prince Mohammed bin Salman. News that the PGA Tour and Saudi Arabia's LIV Golf were joining forces last week brought an end to a two-year battle between the archrivals. The agreement, which includes the DP World Tour — also known as the PGA European Tour — will combine the commercial businesses and rights of the PGA Tour and LIV Golf into a new, yet-to-be-named for-profit company.

Persons: LIV, Khalid Al, Falih, CNBC's Dan Murphy, Saudi Crown Prince Mohammed bin Salman, It's, LIV Golf, — Organizations: PGA Tour, Saudi, Saudi Investment, Public Investment Fund, Saudi Crown, PGA Locations: Riyadh, Saudi Arabia, Saudi

☆ PGA-LIV merger has caused confusion, says U.S. Open holder Fitzpatrick
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +2 min

[1/3] Jun 19, 2022; Brookline, Massachusetts, USA; Matthew Fitzpatrick poses with the US Open Championship Trophy after the final round of the U.S. Open golf tournament. "I just don't know what's going on. I don't think anyone knows what's going on. "Even though I guess it is confusing, it's pretty clear that nobody knows what's going on apart from about four people in the world." The U.S. Open begins on Thursday at the Los Angeles Country Club.

Persons: Matthew Fitzpatrick, Bob DeChiara, LIV, England's Matthew Fitzpatrick, Fitzpatrick, Amy Tennery, Pritha Sarkar Organizations: US, U.S, LOS ANGELES, PGA Tour, Los Angeles Country Club, Saudi Arabia's Public Investment Fund, U.S ., PGA, Saudi Public Investment Fund, Thomson Locations: Brookline , Massachusetts, USA, Los Angeles, New York

Concluding his visit on Thursday, Secretary of State Blinken told reporters he raised human rights issues with Saudi officials and "made clear that progress on human rights strengthens our relationship." "Human rights are always on the agenda of the United States - that’s who we are," he said during a news conference. But some rights advocates argue the golf deal shows the administration has chosen geopolitics over human rights. New York-based Human Rights Watch (HRW) says scores of human rights activists and dissidents are in prison or on trial in Saudi Arabia and that the repression "spiked" following Biden's visit last year. The list included prominent cleric Salman al-Odah, children of former spy chief Saad al-Jabri, human rights defender Mohammed al-Qahtani and aid worker Abdulrahman al-Sadhan.

Persons: Saudi Crown Prince Mohammed bin Salman, Joe Biden, Prince Mohammed bin Salman, Jamal Khashoggi, LIV, Antony Blinken, Blinken, Biden, Seth Binder, Prince Faisal bin Farhan, Sarah Yager, Salman al, Saad al, Mohammed al, Abdulrahman, Saad Ibrahim Almadi, Tess McEnery, Humeyra Pamuk, Simon Lewis, Arshad Mohammed, Don Durfee, Daniel Wallis Organizations: Saudi Crown, Al, Saudi Royal Court, REUTERS, Saudi, Public Investment Fund, North, MbS, PGA, East Democracy, Biden, Rights Watch, Saudi Foreign, U.S, Twitter, Thomson Locations: Jeddah, Saudi Arabia, Bandar, REUTERS RIYADH, WASHINGTON, U.S, Riyadh, Washington, United States, Yemen, New York, China, Israel, OPEC, Russia, Florida

☆ US luxury EV maker Lucid set to enter China market
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] Arizona Governor Doug Ducey speaks at the Lucid Motors plant in Casa Grande, Arizona, U.S. September 28, 2021. REUTERS/Caitlin O'HaraSHANGHAI, June 8 (Reuters) - U.S. luxury electric vehicle (EV) maker Lucid Group (LCID.O) is preparing to enter the world's largest auto market, its head of China operations Zhu Jiang said on Thursday. He declined to comment on any plans for local production. Zhu said the funding would help Lucid "bring the advanced EV technology and product experience to the industry and users globally at a faster pace." Lucid, like its peers, is battling mounting losses and tightening cash reserves amid recession fears and a price war sparked by market leader Tesla (TSLA.O).

Persons: Doug Ducey, Caitlin O'Hara SHANGHAI, Zhu Jiang, Zhu, Ford, Tesla, Peter Rawlinson, Zhang Yan, Zhuzhu Cui, Brenda Goh, Jamie Freed Organizations: Arizona, Lucid, REUTERS, Reuters, Baidu, HK, Saudi Arabia's Public Investment Fund, Air, Thomson Locations: Casa Grande , Arizona, U.S, China, Saudi

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