'These companies would have consumers believe they marked up prices just to keep up with outside costs,' says accountable_us' kyleherrig, 'but the tens of billions in extra profits and generous giveaways to investors last year show otherwise.'
"These companies would have consumers believe they marked up prices just to keep up with outside costs, but the tens of billions in extra profits and generous giveaways to investors last year show otherwise."Many of the most profitable U.S. corporations are raising prices under the pretext of inflation to boost profits and shareholder returns at the expense of consumers, an analysis published Thursday revealed.
Thirty leading companies in major categories of the U.S.
As gasoline prices increased 49.6% in 2021, the three biggest U.S. oil companies—ExxonMobil, Chevron, and Marathon Petroleum—benefited from higher prices, seeing previously negative profits jump nearly $87.5 billion while boosting shareholder handouts by over $4.5 billion in FY 2021; While medical care prices increased 2.2%, the biggest drugmakers—Johnson & Johnson, Pfizer, and AbbVie—saw profits jump by over 90% to $54 billion while boosting shareholder handouts by nearly $2.6 billion in 2021.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Congress poised to boost U.S. science funding, launch new health agencyU.S. science agencies should finally learn their ultimate 2022 budget levels as Congress nears an omnibus spending bill.
Read more »
US Energy Secretary: Biden admin wants to work with US oil & gas producers to raise supplyUS Energy Secretary Jennifer Granholm said on Wednesday that the Biden administration wants to work with US oil & gas producers to raise supply, repor
Read more »
US vice president says US and Poland are united, despite episode over fighter jetsVice President Kamala Harris said in Warsaw Thursday that she was traveling to one of NATO's easternmost allies to show the United States' commitment to the region's security, and announced the delivery of two new Patriot missile systems to Poland.
Read more »
Ukrainian family allowed into US after being stopped at US-Mexico borderA Ukrainian woman and her three children crossed into the United States on Thursday after being turned away at the US-Mexico border a day earlier, according to the family's attorney.
Read more »
Minneapolis’ U.S. Bank Stadium Settles With Wisconsin Man Injured at Garth Brooks ShowWhile the document ends the lawsuit, it also says it should not be construed as an admission of negligence, but rather was signed “solely to purchase peace.”
Read more »
UN war crimes investigators: US needs to answer for air strikes in SyriaThe US military never conducted an independent investigation into a 2019 bombing on the last bastion of the Daesh terror group, despite concerns about a secretive commando force which may have committed war crimes.
Read more »