Top Stories of the Evening: Financial Apocalypse Looms for 7,000 ‘Zombie’ Firms Worldwide
Here are the top stories making headlines today:
An analysis has revealed that nearly 7,000 publicly-traded companies worldwide, including 2,000 in the United States, are on the brink of a financial apocalypse due to their overwhelming debt burdens. These companies, known as “zombie” firms, are struggling to even pay the interest on their loans. Read more about this looming crisis.
In other news, over 9,000 guests are expected to attend Narendra Modi’s swearing-in ceremony as the Prime Minister of India for the third consecutive term. Tight security measures will be in place for the event, which is set to take place on June 9 at the Rashtrapati Bhavan forecourt lawn. Get all the details here.
Meanwhile, Flipkart co-founder Sachin Bansal has sold his remaining 7.5% stake in Ather Energy, an electric vehicle maker. Find out more about Bansal’s exit from the company and the implications of this move.
Additionally, 25 companies in Andhra Pradesh are in focus following the Lok Sabha elections, with market watchers speculating on the potential benefits for these entities in the wake of coalition politics. Learn more about the situation in Andhra Pradesh and Bihar post-election.
Stay informed with Moneycontrol for the latest updates on business news, Sensex, Nifty, personal finance insights, tax queries, and expert opinions. Download the Moneycontrol App for convenient access to all the latest information.