Just five US companies are hoarding nearly half a trillion dollars as the country’s tax code and a tepid global economy deter businesses from
spending their overseas cash piles.
Apple, Microsoft, Google, Pfizer and Cisco are sitting on $439bn of cash — accounting for more than a quarter of the $1.73tn being held by US groups, according to Moody’s Investor Services. The top 50 hold almost $1.1tn, with the iPhone maker alone accounting for more than a 10th of the cash reserves.
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