Stock Markets1 hour ago (Oct 06, 2020 05:30AM ET)
(C) Reuters. Baete of Allianz SE attends the company’s annual news conference in Munich
LONDON (Reuters) – Allianz (DE:ALVG) CEO Oliver Baete said on Tuesday that a lot of “zombie companies” were surviving due to government support but that many private households were more resilient than some thought.
“We are camouflaging for now the underlying effects, we have a lot of zombie companies now that are just surviving because they are getting government money, we have a lot of jobs around furlough or part time that will be lost, certainly in 2021,” Baete told The Wall Street Journal CEO Council.
Baete said, though, that many households were more resilient and stronger than many thought.
Allianz CEO says there are a lot of zombie companies but households are resilient
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
