Saudi Aramco Earnings
Saudi Arabian state-owned Oil Company Saudi Aramco on Sunday reported its earnings with net income for the second half of 2020 plummeting by 50% to $23.2 billion. Net income for the second quarter fell by more than 73% to $6.6 Billion according to a statement on its website.
Despite the decline, the company declared a dividend of $18.75 billion for the second quarter, compared to $13.4 billion for the second quarter of 2019.
Berkshire Hathaway Q2
American conglomerate Berkshire Hathaway on Saturday reported it earnings for the second half of 2020 with net earnings attributable to stockholders rising by 86.8% to $26.3 billion.
The company lost $50 billion during Q1, mainly due to a massive shift in consumer behaviour in the early days of the pandemic. According to CNN, its operating profit fell 10%, to $5.52 billion, compared to $6.14 billion last year.
Twitter TikTok Merger Rumors
According to the Wall Street Journal, Twitter Inc. has held “preliminary talks about a potential combination with TikTok. ByteDance called the reports “market speculation,” according to an article on Chinese state-owned media, The Global Times.
Microsoft has expressed interest in acquiring TikTok’s assets in the United States. Microsoft CEO Satya Nadella says that they will pursue discussion in a matter of weeks and expect to complete the discussion no later than September 15, 2020.