Aramco Reports Record Profit, Injecting Saudi Kingdom With Cash

Aramco Reports Record Profit, Injecting Saudi Kingdom With Cash

DUBAI — High crude oil prices send Saudi Arabia billions of dollars in cash, drive record profits for the national oil company, reinvigorate the country’s ambitious economic makeover and bolster its geopolitical power. The giant oil-producing company Aramco, officially Saudi Arabian Oil Co. On Sunday, it said net income rose 90% to $48.4 billion in … Read more

10 Companies That Would Pay More Taxes Under Inflation Reduction Act

10 Companies That Would Pay More Taxes Under Inflation Reduction Act

Font size Packages ready to be shipped at an Amazon center. Thomas Samson/AFP via Getty Images Some major companies, including: Tesla and Amazon . com, are likely to face higher tax bills under the $750 billion Inflation Reduction Act, passed by the House Friday. The law was approved in the Senate on Sunday. It now … Read more