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US oil giants report lower profits but lift shareholder payouts
US oil giants report lower profits but lift shareholder payouts
by  AFP

ExxonMobil and Chevron reported profits Friday that were much lower than last year's due a drop in commodity prices, but still lofty enough to enable increased shareholder distributions. ExxonMobil reported profits of $7.9 billion, down 56 percent on a 28 percent drop in revenues to $82.9 billion.

Key US inflation gauge cools further as rate hikes bite
Key US inflation gauge cools further as rate hikes bite
by  AFP

A key indicator of US inflation cooled in June to the lowest annual rate in over two years, although this remains above the central bank's target, according to government data released Friday. In June, prices for goods were seen slipping even as the costs of services picked up from a year ago, said the Commerce Department on Friday.

Air France-KLM doubles profits despite inflation
Air France-KLM doubles profits despite inflation
by  AFP

Air France-KLM announced Friday it doubled its net profit in the second quarter, benefiting from high demand in air travel despite rising inflation which has increased costs. Ticket prices have soared since the pandemic, driven by rising fuel costs, increased demand and capacity constraints.

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