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Saudi Aramco considers unit IPO, Intel investors push back on exec pay, Trader Joe’s store seeks to unionize

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Yahoo Finance's Julie Hyman breaks down top business headlines including Saudi Aramco mulling an IPO of its trading arm, Intel shareholders opposing the company's executive pay plan, and a Trader Joe's store in Massachusetts moving to unionize.

Video transcript

JULIE HYMAN: Saudi Aramco could see its trading arm go public with a potential valuation of more than $30 billion. That's according to Bloomberg. The move by the state-controlled oil giant spurred by climbing oil prices and constrained energy supply due to the war in Ukraine. Goldman Sachs, JP Morgan, and Morgan Stanley are reportedly working on a possible offering. It's still just being explored. Meanwhile, pushback coming from Intel shareholders over that company's executive compensation plan. This according to a new filing.

The filing considered a warning shot for the chipmaker's leadership, that the company may not be performing up to investor expectations, and that its performance is being scrutinized. Intel continues to lose market share to rivals like AMD and was unable to fully capitalize on the rise of smartphones and mobile devices. And a Trader Joe's in Massachusetts is seeking out unionization, citing cut benefits, stagnant wages, and unaddressed safety concerns. Organizers say around 2/3 of the nearly 100 employees support unionization.

Workers at the grocery chain adding to a growing list of businesses, including Starbucks, Amazon, and Apple, that have all been seeing efforts to unionize among their workforces. Soz.

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