Subscribe free to our newsletters via your
. Earth Science News .

China overtakes Japan in Fortune 500 ranks
by Staff Writers
Washington (AFP) July 9, 2012

China overtook Japan on the Fortune Global 500 for the first time on the list of the world's biggest companies by revenue, the US business magazine said Monday.

While US companies held the plurality of slots on the list, with 132 US firms featured, Chinese companies came in second, with 73, followed by 68 Japanese companies.

China's ascent marked the addition of 12 companies to the prestigious list, while the number of European firms fell to 161 from 172 in 2011.

Anglo-Dutch energy giant Royal Dutch Shell retook the top spot this year, knocking off US retail titan Wal-Mart from a two-year reign.

Eight energy businesses dominated the top 10, three of them Chinese companies; Sinopec Group, China National Petroleum and State Grid.

Shell had $484.5 billion in revenues in 2011, a 28.1 percent increase from 2010.

Commercial banks accounted for the second-largest industry on the Global 500 and the auto industry was in third place.

"Despite financial turmoil in Europe and disasters in Japan, the world's largest corporations had record profits and revenues in 2011," Fortune said in a statement.

In total, the Global 500 companies posted record revenues of $29.5 trillion, up 13.2 percent over 2010.

"Total profits rose seven percent, to $1.6 trillion, roughly equal to the gross domestic product of India," Fortune said.

The annual ranking reflected the shifting global landscape as the United States faces mounting competition from foreign rivals.

"Although the US still hosts the lion's share of Global 500 corporations, no country has lost more companies during the last decade. There are 132 US-headquartered businesses on this year's list, down from 197 a decade ago," the magazine said.

After Shell, the remaining companies in the top 10 are, in descending order: ExxonMobil; Wal-Mart Stores; Britain's BP; Chinese companies Sinopec Group, China National Petroleum and State Grid; Chevron, ConocoPhillips and Toyota Motor.

Apple shot up 56 spots from last year, landing at number 55. The California-based maker of the hot-selling iPhone, iPad and other gadgets posted 2011 revenues of almost $108.3 billion, a 66 percent rise over 2010.


Related Links
The Economy

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

China's inflation slows to 29-month low
Beijing (AFP) July 9, 2012
China's inflation slowed in June to its lowest level in 29 months, official data showed Monday, giving the government more flexibility in its efforts to reboot the world's second-biggest economy. The country's consumer price index (CPI) rose by 2.2 percent year-on-year in June, the National Bureau of Statistics said, down from 3.0 percent in May and the lowest figure since January 2010. ... read more

Fukushima was 'man-made' disaster: Japanese probe

Aussie patrol boats are 'under pressure'

Japan Diet to publish Fukushima disaster probe

Jakarta, Canberra boost asylum cooperation

Microsoft sets October release for Windows 8

Recognizing Telstar and the Birth of Global Communications

US court lifts Samsung phone ban, keeps tablet block

Lockheed Martin Skunk Works Receives DARPA ALASA Contract Award

Top marine scientists warn reefs in rapid decline

Hosepipe bans lifted in Britain after record rains

Climate change suspended reef growth for two millennia

China's Three Gorges Dam at full capacity: Xinhua

Argentina court upholds glacier protections against mining

Study: Wrong diet doomed 1912 polar try

Scientists to produce first 3-D models of Arctic sea ice

Canada builds up arctic region defenses

US drought hits global grain outlook: FAO

Vertical farm in abandoned pork plant turns waste into food

Screening horticultural imports: New models assess plant risk through better analysis

Scientists urge new approaches to plant research

Russia mourns flood dead as questions mount

Russian official sacked over slack flood response

Indian floods kill threatened rhinos

Familar whispers surround Russia flood disaster

Mali to form 1,200-strong elite force to protect transition

UN soldier dies as DR Congo rebels take Uganda border post

Developing world has less than five percent chance of meeting UN child hunger target

S.African game farmer jailed for 8 years over rhino horn

Seabirds studied for clues to human aging

Hong Kong's land shortage forces bereaved to sea

Diet of early human relative Australopithecus shows surprises

Outside View: 18th-century words for today

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement