For the first nine months of the year, PetroChina Co Ltd, the largest oil and gas corporation in Asia, recorded a 60 percent increase in net profit. Revenues reached record highs as a result of increased energy prices worldwide, despite the fact that decreasing fuel use in the Chinese market continued to drag on profits. PetroChina stated that its net income totaled 120.3 billion yuan ($16.66...

A number of banks have begun the process of transferring money to support Twitter's acquisition by entrepreneur Elon Musk, reports The Wall Street Journal (WSJ). The newspaper notes that banks have started putting $13 billion into accounts. By Friday, October 28, Elon Musk will be granted access to the funds. The publication claims that Elon Musk issued a notice to the banks on October 25 in...

The second such penalty for the Internet giant in a week came from India's Competition Commission, which penalized Google 93.6 billion rupees ($113 million) for "abusing its dominant position over the Play Store policy." Google was fined $162.2 million last week by India's antitrust authority for abusing its dominant position in a number of areas within the Android mobile ecosystem. The Indian...

Visa's net income grew to $15 billion in the fiscal year 2021–2022. One of the two biggest bank card businesses in the world, U.S. Visa Inc., reported a 21.5 percent increase in net income to $14.957 billion for the fiscal year 2021–2022 compared to the prior year. The company's diluted earnings were $7 per common share, up from $5.63 in the prior year. Visa's revenue also added 21.5 percent,...

In the period from January to September 2022, according to financial documents, the British-Hong Kong-based HSBC Holdings plc's net income attributable to shareholders decreased by 5.7 percent year over year to $10.202 billion. Net interest income, on the other hand, grew by 16.8% to $23.032 billion. Diluted earnings per share were $0.51 this year after $0.53 last year. Revenue decreased 1.9%...

In order to increase liquefied natural gas (LNG) production in Qatar at its North Field South (NFS) field in the north of the country, Qatar Energy, the state-owned oil and gas business of Qatar, has established a collaboration with Shell, according to Qatar News Agency QNA. The message stated that Shell had been chosen by Qatar Energy as its second partner to develop the North Field South field...

One of the biggest producers of food and beverages in the world, Nestle SA, of Switzerland, reported that its sales increased by 9% to 69.132 billion Swiss francs (about $69.4 billion) in the first three quarters of this year compared to the same period in 2016. Growth in organic sales was 8.5%. While this was happening, sales in North America increased 11% to 19 billion Swiss francs ($19...

Lockheed Martin, a U.S. military-industrial conglomerate, announced on Tuesday that it intends to increase production of weapons "necessary to defend the United States and its allies" The list includes the Javelin man-portable air defense systems and the HIMARS multiple-launch rocket systems provided to Ukraine. According to Lockheed Martin Chief Executive James D. Taiclet, "We are investing in...

An industry leader in asset management and securities services, Bank of New York Mellon Financial Corp. (BNY Mellon), reported that its shareholders' share of net income declined by 32% to $1.853 billion in the first three quarters of the year. After $3.14 in January through September of last year, diluted earnings per common share were $2.28 this year. Earnings of BNY Mellon increased by 4.56%...