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GE emerges world’s largest company - Forbes

  Diversified industrial conglomerate General Electric has topped the league of world’s 2,000 biggest companies compiled by American business magazine Forbes, displacing British banking entity HSBC Holdings.

The US giant, General Electric, which was ranked at the second place last year, has piped HSBC Holdings from the top position. In the latest list Forbes list of biggest public companies, HSBC Holdings is at the sixth spot.

Among the top five, there are three oil companies - Royal Dutch Shell ranked second, ExxonMobil at the fourth position and BP placed at the fifth spot. Japanese auto maker Toyota has cornered the third place in the league.

There are 47 Indian companies in the list and is led by Reliance Industries which is ranked at the 121st position.

Forbes said the 2000 global companies now account for $32 trillion in revenues, $1.6 trillion in profits, $125 trillion in assets and $20 trillion in market value. In the past year, combined profit was down 31% while market value fell dropped%.

“Even a depression is a place for opportunity if you have cash, scale and ambition. Many of the names on this year’s Forbes Global 2000 list of the world’s biggest companies will emerge on the other side of the trough far stronger when world economies snap back next year,” the magazine said. (The Economic Times)