Companies throughout the world have faced supply shocks linked to the Hormuz blockade, the outlet has said
The US-Israeli war on Iran has already cost businesses throughout the world at least $25 billion, with losses continuing to mount, Reuters reported on Monday, citing an analysis of corporate disclosures from companies listed in the US, Europe and Asia.
The outlet reviewed statements from businesses across major global markets and found that at least 279 enterprises have cited supply chain disruptions and soaring fuel costs linked to the Iran conflict as a reason for emergency measures.
Some have raised prices or cut production, while others have suspended dividends or share buybacks, furloughed staff, imposed fuel surcharges or have sought urgent government support.
Whirlpool CEO Marc Bitzer told analysts earlier this month that the downturn resembled the global financial crisis in 2008 after the appliance maker halved its full-year forecast and suspended dividend payments. “Consumers are holding back on replacing products and, rather, repairing them,” Bitzer said.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: rt.com
