News
 International
   Global Views
   Asia-Pacific
   America
   Europe
   Middle East & Africa
 National
 Embassy News
 Arts & Living
 Business
 Travel & Hotel
 Medical Tourism New
 Taekwondo
 Media
 Letters to Editor
 Photo Gallery
 Cartoons/Comics/Humor
 News Media Link
 TV Schedule Link
 News English
 Life
 Hospitals & Clinics
 Flea Market
 Moving & Packaging
 Religious Service
 Korean Classes
 Korean Weather
 Housing
 Real Estate
 Home Stay
 Room Mate
 Job
 English Teaching
 Translation/Writing
 Job Offered/Wanted
 Business
 Hotel Lounge
 Foreign Exchanges
 Korean Stock
 Business Center
 PR & Ads
 Entertainment
 Arts & Performances
 Restaurants & Bars
 Tour & Travel
 Shopping Guide
 Community
 Foreign Missions
 Community Groups
 PenPal/Friendship
 Volunteers
 Foreign Workers
 Useful Services
 ST Banner Exchange
  America
15th Annual Global 2000
Forbes Announces World's Biggest Public Companies
NEW YORK — Forbes released on May 24, 2017 its 15th annual Global 2000 list, a ranking of the biggest, most powerful and most valuable companies in the world. The ranking is based on a mix of four metrics: sales, profits, assets and market value. China’s banking giants hold steady at the top of the 2017 Global 2000 list.

Industrial & Commercial Bank of China is ranked No. 1 for the fifth consecutive year. China Construction Bank remains in the No. 2 spot. The other two of China’s “Big Four” banks – Agricultural Bank of China and Bank of China – dropped down on the list, but remained in the top ten. Berkshire Hathaway, the largest company in the United States, moves up one spot to No. 3 on this year’s list.

Rounding out the top ten are JPMorgan Chase (No. 4), Wells Fargo (No. 5), Agricultural Bank of China (No. 6), Bank of America (No. 7), Bank of China (No. 8), Apple (No. 9) and Toyota Motor (No. 10).

Despite a slowing of the global IPO market, there are several newcomers to the list. Asia leads with 13 companies joining the Global 2000 ranks. The highest debut at No. 55 is Postal Savings Bank of China. The September 2016 IPO was the year’s largest, worth $8.1 billion. In the U.S., the most high-profile company to enter the list was Snap Inc. The company’s $24 billion market cap helped it earn a spot at No. 1,693.

“Forbes’ 2017 Global 2000 list faces much pressure amid unsteady geopolitical climates and slowing economies. Yet, in aggregate, these 2,000 companies have managed to come out stronger than last year, with increased sales, profits, assets and market values.

Despite slowing GDP figures, China and the U.S., whose companies make up more than 40% of the list, continue to dominate the top 10 list with financial giants,” said Halah Touryalai, Deputy Editor, Investing, Forbes Media. “This list illustrates that in spite of headwinds, the world’s dominant companies remain a steady force in an unpredictable and challenging environment.”

M&A activity decreased year over year, with several deals being withdrawn. Most notable, Pfizer (No. 47) and Allergan (No. 149) ended merger talks in April 2017 after the U.S. government proposed regulations that would stop corporate inversions.

Successful deals included Anheuser-Bush InBev (No. 126), which completed its merger with SAB Miller in October 2016. European supermarket companies Royal Ahold and Delhaize combined to form Royal Ahold Delhaize in July 2016. The new company is ranked No. 330.

The top ten companies on Forbes’ 2017 Global 2000 list are:
1. Industrial & Commercial Bank of China (ICBC), China – banking
2. China Construction Bank, China – banking
3. Berkshire Hathaway, United States – conglomerate
4. JPMorgan Chase, United States – diversified financials
5. Wells Fargo, United States – diversified financials
6. Agricultural Bank of China, China – banking
7. Bank of America, United States – banking
8. Bank of China, China – banking
9. Apple, United States – technology hardware and equipment
10. Toyota Motor, Japan – auto and truck manufactures

Highlights include:

Low oil prices continued to put pressure on the oil and gas companies. PetroChina fell out of the top 10 last year and is down 85 spots to No. 102 this year.

PetroChina isn’t alone: Exxon Mobile dropped 4 spots to No. 13 and Chevron tumbled to No. 359 from No. 28 in 2016.

Some notable newcomers include:
Postal Savings Bank of China (No. 55)
Snap Inc. (No. 1,693)



Related Articles
    S. Korea's Lee Kun-Hee Drops to No. 2 Spot on ...
    Singapore's Tycoons on Forbes Rich List See ...
    Bill Gates Tops List of Forbes’ 2017 Ranking ...
    Samsung's Lee Kun-Hee Is the Richest Person in ...
    Tycoons on Forbes Japan List See Wealth Rise ...
    Suh Kyung-Bae Named as "Businessman of the ...
    Record 35 Billionaires on This Year’s ...
    Putin Tops Forbes' 2014 Ranking of World's ...
    Masayoshi Son (孫正義), Japan’s Richest Man
    Lee Kun-Hee of Samsung Group Tops Forbes' ...
    Forbes Asia Names CP Group's Dhanin ...
    Indonesia Boasts Record 21 Billionaires
    Number of China's Billionaires Hits Record ...
    China, India Tie for Top Place on Forbes ...
    Tech Tycoon Terry Gou, Richest Taiwanese
    Number of Asian Billionaires Soars to 234 from ...
    Lee Kun-Hee Reclaims Richest Korean Title


 

back

 

 

 

The Seoul Times Shinheungro 25-gil 2-6 Yongsan-gu, Seoul, Korea 04337 (ZC)
Office: 02-555-6188 Email:seoultimes@gmail.com
Copyrights 2000 The Seoul Times Company  ST Banner Exchange