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CORONA VIRUS BRINGING $1 TRILLION DEPT
Corona Virus Bringing $1 Trillion Dept For Top 900 Companies.The cost of the Corona virus outbreak will be heavy around the world.
Yazar: Tom Roberts
Yayınlanma: 14 Temmuz 2020 14:39
Güncellenme: 5 Kasım 2024 20:15
CORONA VIRUS BRINGING $1 TRILLION DEPT
Corona Virus Bringing $1 Trillion Dept For Top 900 Companies. The Corona virus outbreak is causing companies around the world to go through a difficult period. These troubles are also reflected in the figures. According to the report in Reuters, the world's largest 900 companies will experience a record borrowing of 1 trillion dollars this year. This means that there will be a huge increase of 12 percent compared to last year and the total amount of debt will be $ 9 trillion 300 billion.
‘CORONA VIRUS HAS CHANGED EVERYTHING '
In 2019, the debts of these 900 firms increased by 8 percent. The mergers, share repurchases and debts taken to finance dividends were effective in this. The only reason for borrowing this year is to survive the corona virus outbreak. Janus Henderson's portfolio manager Seth Meyer said "The Corona virus changed everything. Now the important thing is to protect capital and create a strengthened balance sheet. ”Meyer stated that credit markets have a long way to go before the pre-epidemic period.
CENTRAL BANKS CAME TO THE RESCUE
Except for the most reliable ones, most companies could not use classic borrowing channels during the outbreak. Lenders closed their doors due to high risk. Companies were able to find resources thanks to the urgent corporate debt programs of central banks around the world, primarily the US Federal Reserve, the European Central Bank and the Bank of Japan.
VOLKSWAGEN'S DEPT COMPETES WITH MANY COUNTRIES
The companies included in the new debt index are 40 percent more than 2014. Growth in debt surpassed growth in profits too. 3 trillion, 900 billion dollars, which is almost half of the total debt in the world, belongs to the US companies. German companies take the second place with 762 billion dollars. 192 billion dollars of this belong to Volkswagen alone. The automotive giant's debt competes with countries like South Africa and Hungary! In contrast, nearly a quarter of the companies in the index have no debt. Others have large cash reserves. For example, Google's parent company Alphabet has $ 104 billion.İLGİLİ HABERLER
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