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UK News
04-02-2005
who: Shell
what: Annouces record £9.3billion profit for 2004
where: LONDON
when: Thursday
snippet: The figure is equivalent to £1million-an-hour, says The Guardian, or roughly 1% of Britain`s GDP. Ironically, the company has had a bad year, overestimating its reserves by a 1.4billion barrels, but has benefitted by the high price of crude oil. Yet it cannot compete with US oil giant ExxonMobil, which announced profits of $25billion for 2004, more than the entire GDP of Syria. The Evening Standard`s city editor, Chris Blackhurst, says we should be proud to live in a society that allows big business to grow and prosper. The Guardian`s leader urges Shell to "make sure that its inflated profits are subject to a full 30% corporation tax charge and not whittled down by (perfectly legal) accounting wheezes." [... more]
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my name is Jenny. I'm your WTPS news reader. I choose the top stories from Britain's online newspapers every morning to help you make up your own mind about the day's news.
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