The U.S.-Israeli war with Iran has already cost companies around the world at least $25 billion - and the bill is climbing, according to a Reuters analysis.A review of corporate statements since
The U.S.-Israeli war with Iran has already cost companies around the world at least $25 billion - and the bill is climbing, according to a Reuters analysis.
A review of corporate statements since the start of the conflict by companies listed in the United States, Europe and Asia offers a sobering look at the fallout. Businesses are grappling with soaring energy prices, fractured supply chains and trade routes severed by Iran's chokehold on the Strait of Hormuz.
At least 279 companies have cited the war as a trigger for defensive actions to blunt the financial hit, including price increases and production cuts, the analysis shows. Others have suspended dividends or buybacks, furloughed staff, added fuel surcharges, or sought emergency government assistance.
The upheaval - the latest in a series of discombobulating global events for business following the COVID-19 pandemic and Russia’s invasion of Ukraine - is tempering expectations for the rest of the year with little sense that an agreement to end the conflict is forthcoming.
"This level of industry decline is similar to what we have observed during the global financial crisis and even higher than during other recessionary periods," Whirlpool WHR.N CEO Marc Bitzer told analysts after it
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