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Good morning from the Financial Times.
Today is Tuesday, July 1st, and this is your FT News Briefing.
Middle East oil giants tap the brakes on their buying binge.
And U.S. stocks are back to beating out European equities.
Plus, the buy now, pay later startup Klarna is getting a makeover.
I'm Sonya Hudson, and here's the news you need to start your day.
Two of the Middle East's biggest state-owned oil companies are pulling back on investments.
Saudi Aramco and Abu Dhabi Oil Company, or ADNOC,
have plowed tens of billions of dollars into acquiring businesses in recent years.
But now, lower oil prices are starting to bite,
and the two giants are slowing down that buying spree.
Benchmark crude has fallen below $80 a barrel since January,