UK holds highest ranking European company

The latest Forbes 2000 list revealed the UK has the third largest number of successful global companies, after the US and Japan. The UK also holds the highest ranking European company, HSBC, which came in at number five. Last year, the highest ranking company from the UK was BP, which also came in at number five; though this year BP fell to number eight. The list, now in its second year, was launched to illustrate how the world economy works. It spans 52 countries and 27 different industries. To rank the global giants, Forbes assesses sales, assets, profits and market value. Combined, the companies on the list boast total sales of $22 trillion. In all, the UK has 140 companies on the list, compared with 326 for Japan and 711 for the US. The US banking corporation Citigroup was ranked the most successful.

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