Aramco fights for Apple’s place as world’s most valuable company
BNN Bloomberg
Saudi Aramco is close to claiming the prized position of the world’s most valuable company from Apple Inc.
Saudi Aramco is close to claiming the prized position of the world’s most valuable company from Apple Inc.
The Saudi state oil giant has soared on the back of higher energy prices, bringing its market value to US$2 trillion, just shy of Apple at US$2.3 trillion.
The share prices of the two corporate giants are symbolic of how the global economy is changing this year. Apple shares have suffered as consumers rein in spending on home entertainment and get back into the world. All that transportation activity has sparked a boom in oil prices that feeds directly to Aramco’s bottom line.
There’s reason to believe that Aramco could continue climbing. Bank of America Corp. analysts have said the global energy crunch could help propel oil prices above US$100 a barrel for the first time since 2014.
At the same time, Apple is coming under pressure as investors turn cautious on expensive tech stocks amid rising bond yields.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Jay Allen is a fan of U.S. President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.
Another climb for oil prices sent the U.S. stock market sharply lower, as hopes collapsed for a possible cut to interest rates by the Federal Reserve.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Facing a $1.4 billion deficit shortfall, the provincial government says its large-animal vet service will be privatized over the next three years.
Facing a $1.4 billion deficit shortfall, the provincial government says its large-animal vet service will be privatized over the next three years.
Jurors wade through daunting evidence in high-stakes Meta trial about social media risks to children
A stream of testimony and evidence has been presented in a New Mexico case exploring what Meta knew about the effects of its platforms on children.
Markets in Canada and the U.S. continued to trade lower while oil went up late morning on Friday as inflationary fears prevailed among investors.
Gold prices fell by 1.8 per cent on Friday as the dollar strengthened on a report that the United States will deploy extra troops in the Middle East, fanning concerns of higher oil prices, inflation, and with it, elevated interest rates.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Statistics Canada says retail sales were up 1.1 per cent at $70.7 billion in January, led by sales at motor vehicle and parts dealers.
As Qatar reels from an Iranian attack that has hobbled its giant natural gas company, its boss, who doubles as the country’s energy minister, says he had warned officials and executives of just such a danger should Iran’s own sites be hit.