Thursday, July 12, 2007

Fortune Global 500: The world's largest corporations

Rising oil prices and a global glut of mergers and acquisitions meant another year of record profits for old-economy companies, putting them at the top of Fortune's annual list.

Just seven years ago Fortune was predicting that high-flying tech companies would soon displace the oil and auto giants that had been hogging the limelight at the top of the Global 500.

Well, look who's still riding high: Six of the top ten companies on this year's list are pumping petroleum, and three more are making vehicles that burn it. True, Wal-Mart regained its title as the world's largest company, with $351.1 billion in revenue.

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