World Business NewsA round up of the latest news for those doing business internationally
US business eclipsing rest of world
Zone(s): USA ¦ Sector(s): Economy
[25 June 2014, Economia, ICAEW] Almost half of the world’s 100 largest companies are based in the US, while just eight are in the UK. A new report from PwC has shown that 47 of the world’s 100 most valuable companies are now in the US, compared with 42 in 2009 and 33 in 2008. There are 18 of the top listed companies in the Eurozone, with eight in the UK, down from nine in 2009 and 10 in 2008.
The technology sector has risen from sixth to second highest performing sector by market cap. In 2009 there were nine technology firms with a combined worth of $997bn (£587.5bn); this has now increased to 13 companies with a combined worth of $2.5trn (£1.5trn).