News Items, part two.
1. Saudi Aramco may have lost its crown as the world’s biggest company to Apple, but yesterday it reported the biggest-ever quarterly profit by any company, on the back of soaring oil prices. The state-controlled company reported net income in the second quarter of $48.4 billion, beating its record of $39.5 billion in the first quarter and topping forecasts of $46.2 billion. The profit, a 90 per cent increase on the second quarter of last year, was driven by a rise in demand, higher oil prices resulting from Russia’s war in Ukraine and hefty refining margins. Apple’s highest-ever quarterly profit was $34.6 billion in the final quarter of last year. (Source: thetimes.co.uk)
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