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Friday, January 30, 2009

Breaking: Exxon breaks own annual profit record

Breaking: Exxon breaks own annual profit record 30 Jan 2009 Exxon Mobil Corp. said its fourth-quarter net income fell 33 percent to $7.82 billion, on lower oil prices in the last months of 2008, but managed to break its own profit record for a U.S. company. Exxon, the world's biggest nongovernmental oil company, reported a profit of $45.2 billion for 2008, in spite of fourth-quarter earnings dropping 33 percent from a year ago. The previous record for annual profit was $40.6 billion, which Exxon set in 2007.

Oil Giant Smashes Profit Record --US oil colossus Exxon Mobil has recorded the largest ever annual profit by a publicly listed company. 30 Jan 2009 The firm, the world's most valuable by market capitalisation, notched up profits of almost £32bn despite a recent plunge in crude prices. But the earnings were secured on the back of triple-digit price for most of 2008, rocketing to a record peak above $147 a barrel in July. The Texas-based company shattered its own annual profit record of £28bn posted in 2007 - even though the final three months of last year yielded just £5.5bn in profits.

Chevron record profit nearly $24 billion in 2008 30 Jan 2009 Chevron Corp. captured fourth-quarter profits of $4.9 billion, but the earnings were only 1 percent higher than the year before and were fueled primarily by a one-time gain of $600 million. During all of 2008, Chevron earned $23.93 billion, a record for a full year.

A Rich Income in '06 Was $263 Million 30 Jan 2009 The income of the 400 wealthiest Americans swelled in 2006, soaring nearly 23 percent from the previous year, to an average of $263 million, according to data released Thursday by the Internal Revenue Service. Since 1996, this group has nearly doubled its share of all income earned in the United States. The top 400 paid just more than $18 billion in federal income taxes in 2006, or an average of $45 million, on a record $105 billion in total income -- the lowest effective tax rate in the 15 years since the agency began releasing such data. That compares with nearly $1 trillion paid by all other individual taxpayers in 2006.

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