The spread of the new coronavirus around the world is hitting companies hard as they suspend production, meetings, events and business travel. Here’s a look at the latest developments:
PROFIT WARNINGS: AB Inbev, the world’s biggest brewer, reported a significant drop in demand in China, leading to an estimated loss of $285 million in revenue so far. PayPal says the outbreak means it now expects 2020 revenue toward the lower end of its range of $4.78 billion to $4.84 billion. Frankfurt Airport is offering staff unpaid leave or temporary reductions in work hours as a way to manage the costs of a sharp drop in air traffic.
Other things to check out:
In search of a candidate, has the business community found one in Mike Bloomberg?
Democratic front-runners Bernie Sanders and Elizabeth Warren have enjoyed vilifying the billionaires.
For Boston business leaders who bleed blue, it has been hard to support — let alone give money to — candidates who make a sport out of beating up capitalists. Poring over election filings last fall, I found that local corporate titans were sprinkling money across multiple candidates, because they weren't sure whom to back in the primary.
Then, in November, along came two moderate candidates with business backgrounds that local business bigwigs could identify with: Deval Patrick and Mike Bloomberg. Just like that, the major-donor class didn't feel so shunned; there was genuine excitement.
Microsoft Warning Is A Harbinger Of Coronavirus Impact On Business And The Economy
Microsoft's announcement on February 26, 2020, that it was revising its revenue guidance for Q3 FY20 is only the latest warning that the COVID-19 coronavirus is having a larger than anticipated impact on global business. Microsoft followed Apple which issued a similar update to its quarterly guidance on February 17. Both companies give a variety of reasons for their revenue forecasts, but they share a single cause, which is a slowing of supply chain ramp up following the Chinese New Year.
Atlanta 'business as usual' despite coronavirus concerns | FOX 5 Atlanta
ATLANTA - The threat over a potential coronavirus outbreak has many businesses worried, but for the Atlanta Visitor and Convention Bureau, it is business as usual.
Thursday morning the president and CEO of the organization said unless something changes, they will continue to do the same thing they always have done.
While business in Atlanta is continuing on as normal, fears over the coronavirus has sent the stock market plunging yet another day. The Dow Jones closed down more than 1,100 points on Thursday.
This may worth something:
MatchBOX to host 'Business of Bacteria' - WISH-TV | Indianapolis News | Indiana Weather
LAFAYETTE, Ind. (Inside INdiana Business) — The MatchBOX Coworking Studio in downtown Lafayette will Friday evening host an event aimed at bringing awareness to a growing area of local business. "Business of Bacteria" will showcase how fermentation is increasingly benefiting a variety of businesses, including breweries, wineries, farms and food producers.
The coworking space says the event will feature talks on topics such as the impacts of fermented products on gut health, industry trends in fermentation, and what it takes to build a brewing operation.
Business leaders share successes, failures - Sidney Daily News
Irvin Bowman, president of Wayne Truck & Trailer Ltd. in Sidney, talks with audience members following a Minster Civic Association panel discussion Tuesday evening at Minster Elementary School.
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MINSTER – Six local business leaders shared the strategies that have made their companies successful and the failures they’ve learned from during a Minster Civic Association presentation Tuesday evening.
As part of its monthly meeting, Minster Civic Association hosted a panel discussion with Kurt Barhorst, president of Air Handling Equipment, Inc. in Sidney; Doug Borchers, president of Superior Aluminum Products in Russia; Irvin Bowman, president of Wayne Truck & Trailer Ltd. in Sidney; Jeff Meyer, president of Meyer Restoration in Piqua; John Brooks, president and CEO of Buckeye Insurance Group in Piqua; and Matt Hoying, president of Choice One Engineering Corp. in Sidney.
Closure of U.S.
Just after midnight March 9, the Colorado Department of Transportation will close both lanes of U.S. 36 at mile marker 8 — between Lyons and Estes Park — for flood mitigation work. Depending on the weather, CDOT officials said the closure could last up to 30 days.
Despite the fact that Colo. 7 and Colo. 34 will continue to provide access to the area, many Estes Park business owners are concerned that the detour will dampen an annual boost to business during spring break that they have come to rely on for getting their businesses through the final months of winter.
Loxley shipping business bracing for Coronavirus impacts | Baldwin County Alabama News |
Happening on Twitter
British Airways became the first major carrier to cut services to Italy following the spread of the coronavirus the… https://t.co/WnpnZPrIV5 business (from New York and the World) Wed Feb 26 20:35:04 +0000 2020
#UPDATE Spain was investigating its first suspected cases of locally-transmitted coronavirus infection as The Nethe… https://t.co/h5LrVS7brG AFP (from France) Fri Feb 28 00:18:00 +0000 2020
Thinking about what happens when coronavirus hits underresourced refugee camps and other sites of incarceration — t… https://t.co/z9z10sAGOO IBJIYONGI (from DurhamNH/CambridgeMA/Wakanda) Fri Feb 28 04:20:33 +0000 2020
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