The dollar volume of corporate debt that defaulted in the first quarter of 2003 dropped far below the record amounts that defaulted in previous quarters, but the rate of defaults remains above average, according to Standard & Poor’s Risk Solutions. So far this year, 38 companies globally have defaulted on $11.3 billion of debt. The rate of corporate defaults is expected to remain high throughout the rest of the year, though not at the high water marks reached in 2001 and 2002. ‘The $11.3 billion that defaulted in the first quarter is a welcome break from the unprecedented volume of defaults in recent years and is well below the $181.7 billion that defaulted in all of 2002,’ reported Brooks Brady, Associate Director for default research at Standard & Poor’s Risk Solutions. ‘Globally, default rates remain above average and are expected to remain so throughout the rest of the year.’
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.