Global bankruptcies exceed 2008 level

Soaring interest rates and the end of Covid subsidies have had a big impact on businesses, the outlet reports The world’s corporate sector has been hit by a wave of bankruptcies occurring at a double-digit pace unseen in decades, the Financial Times reported on Monday, citing data from national statistics offices. Business insolvencies in the US saw a year-on-year surge of 30% in the 12 months through September, while in Germany, the EU’s biggest economy, the number of reported bankruptcies increased by 25% from January to September compared to the same period a year ago. Across the EU, the number of companies goi

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