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Trillion is a number with two distinct definitions: 1,000,000,000,000 , i.e. one million million , or 10 12 (ten to the twelfth power ), as defined on the short scale . This is now the meaning in both American and British English.
Traditional British usage assigned new names for each power of one million (the long scale): 1,000,000 = 1 million; 1,000,000 2 = 1 billion; 1,000,000 3 = 1 trillion; and so on. It was adapted from French usage, and is similar to the system that was documented or invented by Chuquet .
At the same time, household debt rose from £420 billion in 1994 to £1 trillion in 2004 and £1.46 trillion in 2008 – more than the entire GDP of the UK. [ 84 ] This extended period of growth ended in Q2 of 2008 when the United Kingdom entered the Great Recession brought about by the 2007–2008 financial crisis .
The BoE's maneuvering after the mini budget was announced may have prevented $1 trillion from being lost in UK pension funds' investments.
The UK technology sector is valued at US$1 trillion, third behind the United States and China, mostly based in England. [71] [72] A growing number of technology companies are based in London, notably in East London Tech City also known as Silicon Roundabout.
During the COVID-19 pandemic, national debt reached £2.004 trillion for the first time due to government spending on virus measures, such as the Coronavirus Job Retention Scheme ("furlough scheme"). [22] The national debt stood at £1.786 trillion at the calendar year end 2018, or 85.2% of GDP; as published by the Office for National ...
List of trillion-dollar companies *Market cap data as of Dec. 13, 2024. 1. Apple (AAPL) Apple designs and makes a variety of consumer tech products and has one of the best-known brands in the ...
The next-biggest companies in New York which help the US market swamp all competition are all tech firms worth more than $1 trillion, including Amazon, Tesla, Microsoft, Meta, Google owner ...