This chart shows the 17 US companies with the biggest piles of cash
American companies are hoarding cash like crazy.
In the second quarter of 2017, twenty-four of the largest American companies are holding on to a whopping $1.01 trillion in cash reserves, up 1.63% from the first quarter, according to analysis of second quarter earnings reports by Bank of America.Of the $1.01 trillion, just over 80% is held in stashes outside the United States.
"Because about 70% of 2Q inflows were invested in corporate bonds we see no evidence yet that corporate investors are making their cash portfolios more liquid ahead of the possible repatriation of overseas cash as part of tax reform or on a stand-alone basis," the bank wrote.Here's which US companies have the most cash on hand:
Anaele Pelisson/Business Insider
- UP to have cold chain space for 1.23L litres of vaccine
- Wuhan authorities now find Covid-19 on imported frozen food
- From WhiteHat Jr, Big Basket, and Unacademy to Dunzo — these are the Indian startups that reported data leaks over the past few months
- Chennai volunteer for SII's Covid vaccine claims Rs 5 cr compensation for health complications
- ASEAN distances from China's Covid vaccine diplomacy