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Sify Home >> Finance >> Others >> Look who's awash with cash in 'debt-ridden' US

Look who's awash with cash in 'debt-ridden' US

​debt
Corporate America led by Citibank, headed by Indian American chief executive Vikram Pandit, is sitting on a colossal $2 trillion in cash.

Of this, $1.4 trillion is accounted for by the Standard & Poor's top 20 companies, their strong performance disconnected from the debt-ridden reality of the world's largest economy.

Citigroup topped with $526 billion in cash, followed by JP Morgan Chase with $414 billion and Wells Fargo with $112 billion in the second and third places, according to S&P figures.

Text: IANS

AP Images




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