Illustration: Sarah Grillo/Axios

A total of 119 companies have defaulted on debt so far this year, meaning that in just over five months there have been more corporate defaults than the full year 2019, S&P Global reported Friday.

What they're saying: "Both Europe and other developed regions have seen a considerable increase in defaults compared with previous years and have either matched or surpassed their full year tallies in 2017, 2018, and 2019," Sudeep Kesh, head of S&P Global Credit Markets Research, said in a press release.

The big picture: The U.S. has led the way with 78 defaults so far this year and that was before the announcement of Chesapeake Energy's bankruptcy filing on Sunday.

  • With 16 defaults so far in 2020, Europe has surpassed its full year 2019 and 2018 tallies of 15 and 13, respectively.

Go deeper: Corporate debt issuance has already topped $1 trillion in 2020

Go deeper

Updated 35 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3:30 p.m. ET: 18,614,542 — Total deaths: 702,330 — Total recoveries — 11,181,018Map.
  2. U.S.: Total confirmed cases as of 3:30 p.m. ET: 4,793,950 — Total deaths: 157,416 — Total recoveries: 1,528,979 — Total tests: 58,239,438Map.
  3. 2020: Joe Biden will no longer travel to Milwaukee for Democratic convention.
  4. Public health: Florida surpasses 500,000 confirmed casesModerna skirts disclosures of vaccine costs.
  5. Sports: The return of high school sports hangs in the balance — UConn becomes first FBS team to cancel football season.
  6. Education: Chicago Public Schools to begin school year fully remote.
Updated 45 mins ago - World

Beirut explosion: Death toll rises to 135, officials under house arrest

Photo: Anwar Amro/AFP via Getty Images

The death toll from Tuesday's explosion in Beirut, Lebanon has now surpassed 130, including at least one U.S. citizen, amid a search for answers as to why a huge store of ammonium nitrate was left unsecured near the city's port for nearly seven years.

What we know: The government says around 5,000 people are injured. Defense Secretary Mark Esper said current indications are that the massive explosion was accidental, despite President Trump's puzzling claim on Tuesday evening that it appeared to be a bomb attack.

Exclusive: Trump campaign seeks early September presidential debate

Photo: Jim Watson/AFP via Getty Image

The Trump campaign is asking the Commission on Presidential Debates to move up the last presidential debate to the first week in September to get ahead of an expected surge in early voting.

Driving the news: President Trump's personal attorney, former New York City Mayor Rudy Giuliani, made the request in a letter dated Wednesday and obtained by Axios.