Asian Currencies Hold Steady as Middle East Tensions Boost US Dollar, Oil Concerns 
Alaska Air Q3 Outlook Misses Estimates as Higher Fuel Costs Weigh on Profit Forecast 
Wistron Opens $700M Texas AI Factory to Build Nvidia GB300 Superchips 
Trump Announces 100% Tariff on Generic Drug Imports Starting in 2028 
Chalco Shares Jump as Chinalco Plans Up to $300 Million Stake Increase 
Domino’s Weighs Appeal After Australian Court Rules Workers Were Misled on Pay 
GE Vernova Q2 Revenue Tops Estimates as Earnings Miss, Shares Slide Despite Higher 2026 Outlook 
US Dollar Climbs to Weekly High as Middle East Tensions Lift Treasury Yields and Safe-Haven Demand 
Trump Set to Unveil New Tariffs on Dozens of Countries as Global 10% Duty Nears Expiration 
Gold Price Jumps Near 2% Above $4,080 as Middle East Tensions Lift Safe-Haven Demand 
ASEAN Ministers Warn Middle East Conflict Threatens Regional Stability and Energy Security 
Samsung Eyes Up to $1.14 Billion Investment in AI Startup Mistral 
GM Q2 Earnings Beat Estimates as General Motors Raises 2026 Profit Outlook 
Oil Prices Extend Four-Day Rally as U.S.-Iran Conflict and Red Sea Threats Raise Supply Fears 
ASML Trillion-Dollar Valuation: Can Europe’s AI Chip Giant Reach the Historic Milestone? 
Nvidia Reveals 9.3% Stake in AI Cloud Firm Nebius Following $2 Billion Investment 
Japan PM Sanae Takaichi Unveils Growth Plan as BOJ Independence Concerns Lift Bond Yields 
Apple recorded an increase in its total profit, and with this, it has become the most profitable company in the world. Based on Fortune Global 500 list for the 2020 fiscal year, the iPhone maker’s revenue increased 3.9 percent, which is equivalent to $57.41 billion.
All in all, the companies in Fortune’s list generated total revenues that are more than one-third of the world's gross domestic product (GDP) at around $31.7 trillion. Then again, the combined total amount was said to be lower by five percent compared to last year’s record of $33.3 trillion.
Fortune stated that this is the first decline in five years. It pointed to the COVID-19 pandemic as the main reason for the decrease as the global lockdowns sent economies worldwide spiraling down.
In any case, Fox Business noted that with Apple’s 3.9 percent increase, it has surpassed Walmart and Amazon’s record to be the most profitable business in the world. Moreover, the American tech company displaced the oil giant Saudi Aramco, which held the title for the past two years.
Apparently, Apple continues to move up in the rankings, and now it made its way to the top in the global 500 largest companies. The Tim Cook-led tech firm was in third place last year and also placed sixth based on total revenue now.
Apple secured the top spot in terms of profitability for 2020, but in terms of revenue, the U.S. retailer, Walmart, emerged as the no. 1 on the list that ranks the top 500 companies in the world. The ranking is determined based on revenue. The next top 9 in this category as per Fortune include State Grid, Amazon, China National Petroleum, Sinopec Group, Apple, CVS Health, UnitedHealth Group, Toyota Motor, and Volkswagen.
“The pandemic created challenges and opportunities for Apple. CEO Tim Cook had to close stores and send home engineers but with Apple customers worldwide working and learning from home, iPad and Macintosh computer sales skyrocketed to their highest levels ever,” Fortune wrote. “And fiscal-year revenue hit an all-time record too, of $275 billion, that helped Apple’s stock price soar; it gained 80.7% in 2020.
