About: http://data.cimple.eu/news-article/4f2d2c6e0740c985f0b341549e583d5f0250ed6c9012d6dc2bbc0b5b

Facets (new session)
Description
Metadata
Settings
- owl:sameAs
- Inference Rule:

About: http://data.cimple.eu/news-article/4f2d2c6e0740c985f0b341549e583d5f0250ed6c9012d6dc2bbc0b5b Goto Sponge Distinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:NewsArticle
schema:articleBody	Governments around the world are scrambling to save companies battered by coronavirus lockdowns but the world is nevertheless facing a massive surge in bankruptcies by a third, a study conducted by a trade insurance firm said Monday. "COVID-19 is creating an insolvency time bomb," said the report by Euler Hermes, predicting a 35-percent cumulative jump in the number of companies that go bust between 2019 and 2021. The firm, which provides insurance for trade deals, said this would be a record for its global insolvency index -- and that about half of the countries worldwide would be setting new highs since the 2009 financial crisis. The biggest increase among the world's economic powerhouses will be in the United States, with a 57 percent jump in insolvencies in 2021 compared to 2019, before the coronavirus struck. Bankruptcies are expected to soar by 45 percent in Brazil, 43 percent in Britain, and 41 percent in Spain. China is forecast to see a 20 percent surge in bankruptcies. In the United States, "the rapid spread of the virus is amplifying the trough in activity and generating a liquidity crisis for a larger set of companies", said the report. "We do not expect the U-shaped recovery in the US to be sufficient to offset all the legacies of the crisis on financial metrics, nor to prevent the rise in insolvencies from continuing into 2021," it added. The insolvencies are disruptive as other firms are left unpaid or forced to scramble to find new, often more expensive suppliers. "The larger the company filing for bankruptcy, the higher the risk of a domino effect," said the report. Euler Hermes also warned of two scenarios in which bankruptcies could jump even higher. A premature withdrawal of supportive economic and policy measures could push the rise in insolvencies to 40-45 percent. "And if the global economic recovery takes longer than expected, the surge" in insolvencies could rise to as high as 85 to 95 percent, it added. boc/rl/jj
schema:headline	World facing bankruptcy time bomb: study
schema:mentions	Time bomb Spain Insurance Virus Brazil United States China Coronavirus Severe acute respiratory syndrome coronavirus 2 Euler Hermes Monsoon trough Liquidity crisis Insolvency
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-07-20 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	79 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

Faceted Search & Find service v1.16.115 as of Oct 09 2023

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 11 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software