“Apple and Microsoft both have bigger piles of cash than the UK Treasury, a report has revealed,” Sophie Murray-Morris reports for The Telegraph. “The figures, calculated by the US Trust, show that several companies have more money to spend than the UK does.”
“Apple has the largest cash reserves, with £95bn, far greater than the cash held by Malaysia, Turkey or Poland,” Murray-Morris reports. “The large cash reserves stem from reluctance on the part of US companies to bring overseas profits back, due to the taxes they would be forced to pay. Non-financial US firms had a staggering £956bn to spend at the end of 2013, a 100 per cent increase in their cash balances from 2007.”
“Microsoft has the second largest cash reserve of any company at £50bn, £45bn less than Apple,” Murray-Morris reports. “Microsoft and Apple’s cash reserves both dwarf the UK’s figure of £41bn.”
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