ExxonMobil rakes in record net profits in 2022, leading to backlash

BUSINESS DAILY © FRANCE 24

US oil company ExxonMobil recorded a net profit of $56 billion last year, beating its previous 2008 record. It benefitted from a surge in prices following the Russian invasion of Ukraine and a cost-cutting drive during the pandemic. The White House has called these profits "outrageous", leading to further calls for a windfall tax. Meanwhile in the UK, some 500,000 workers are expected to walk off the job this Wednesday amid a cost-of-living crisis. Finally, Hong Kong bans all CBD products, saying they are a "dangerous drug".