US: The Wave of Corporate Bankruptcy Accelerates
The US is experiencing an increase in corporate bankruptcies, with notable names such as Vice Media and Bed Bath & Beyond collapsing due to heavy debt and poor business management.
This trend may continue, with experts warning of a potential "bankruptcy tsunami" if the US defaults on its debt and an agreement on the public debt ceiling is not reached.
From January to April 2023, 236 large businesses filed for bankruptcy protection, more than double the amount in the same period in 2022. In mid-May, up to seven large enterprises filed for bankruptcy under Chapter 11 of the US Bankruptcy Law, the highest number since 2008.
The Fed's campaign to raise interest rates is a major cause of businesses accelerating bankruptcy, with less financially stable companies struggling to get loans and facing higher interest rates. Companies in all sectors are grappling with higher interest costs, making it harder to sell bonds and raise new capital.
US: The Wave of Corporate Bankruptcy Accelerates
SEC Introduces New Rules to Regulate Struggling SPAC Market
Dive into the latest developments as the SEC takes measures to address the challenges faced by the struggling SPAC market, impacting the future of SPACs.
Dive into the latest developments as the SEC takes measures to address the challenges faced by the struggling SPAC market, impacting the future of SPACs.
Read more
Estée Lauder spends $2.8B to acquire Fashion brand Tom Ford
Estee Lauder Cos. agreed to acquire Tom Ford at a valuation of $2.8 billion, marking the beauty company's biggest-ever deal.
Estee Lauder Cos. agreed to acquire Tom Ford at a valuation of $2.8 billion, marking the beauty company\'s biggest-ever deal.
Read more