The number of US companies featured in a eminent business magazine’s annual list of the world’s top 500 global companies fell to its lowest level ever, Fortune magazine has said, while more Chinese firms appeared than ever before. Signaling the effects of the devastating financial crisis on the US economy, a non-US firm topped the list for the first time in over a decade, with Anglo-Dutch energy giant Royal Dutch Shell coming in first. The firm brought in 15 billion dollars (11 billion euros) more in sales than second place oil rival Exxon Mobil of the United States. China, Asia’s ever-soaring powerhouse economy, saw its fortunes rise across the board with a Chinese firm — oil giant Sinopec — appearing in the top 10 for the first time, the magazine reported Wednesday. Sinopec, also known as China Petroleum & Chemical Corp, supplies 80 some percent of China’s fuel. Overall, China had an unprecedented total of 37 companies featured on the list, with nine new entries and the others climbing in the rankings. The business publication meanwhile said US-based Wal-Mart Stores slid from last year’s top spot to third, with revenues of over 405 billion […]
Friday, July 10th, 2009
US Slips, China Soars In Fortune Company Rankings
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Source: Agence France-Presse (France)
Publication Date: Jul 9 04:21 AM 2009 US/Eastern
Link: US Slips, China Soars In Fortune Company Rankings
Source: Agence France-Presse (France)
Publication Date: Jul 9 04:21 AM 2009 US/Eastern
Link: US Slips, China Soars In Fortune Company Rankings
Stephan: