Biden administration criticises ExxonMobil profits

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Rahul Tandon is joined by Sushma Ramachandran, business journalist and columnist for The Tribune in Delhi, and Allison Schrager, senior fellow at the Manhattan Institute and contributing editor at City Journal in New York, to discuss the day's business news. The Biden administration in the US has expressed anger over record annual profits posted by the US oil giant, ExxonMobil. The company's net profit for last year was just over fifty-five billion dollars, driven by soaring oil and gas prices caused by the war in Ukraine. Also in the US, the Federal Reserve is meeting to make its next decision on interest rates - as the world watches. Meanwhile, the Indian government will present its last full budget on Wednesday before the country holds elections in 2024 - what could it contain? (Photo: US President Joe Biden makes a statement about gasoline prices and oil company profits in the White House in Washington. Credit: Leah Millis/Reuters)