With the economy effectively shut down in many parts of the world, some companies are questioning the allocation of their budgets going forward. While some companies, like Google, have slashed their budgets by half, another study by Influencer Marketing Hub found that one in four companies are planning to increase their marketing budget during coronavirus.
So, how do businesses decide how to allocate their funds, especially during a crisis? How much are business leaders allocating to marketing and in which areas of marketing specifically?
And here's another article:
KT Skylife mulling entering budget phone service market | Yonhap News Agency
SEOUL, June 1 (Yonhap) -- KT Skylife Co., a satellite broadcasting provider in South Korea, is considering entering the budget phone service market, industry sources said Monday, as it tries to explore a new growth engine beyond the pay TV business.
The affiliate of South Korean telecommunication firm KT Corp. recently expressed its intent to the Ministry of Science and ICT for a mobile virtual network operator (MVNO) business, according to the sources.
MVNOs refer to companies that rent infrastructure from major telecom firms and provide wireless service at a cheaper price. In South Korea, they are also known as "altteul" phone operators.
Another San Diego budget problem: $11.2 million in rent losses
By the end of June, San Diego estimates it will have lost $11.2 million in deferred rent payments on city-owned properties because of the coronavirus pandemic, and the number is expected to continue to grow.
inewsource talked with about a dozen lessees that the city identified as behind on rent, and their stories revealed a variety of challenges. Some were already delinquent and said the economic fallout from COVID-19 has added to their worries. Others said accounting errors were to blame. And some said they had fallen briefly behind on rent but hoped to catch up.
Colorado's oil and gas producers are slashing budgets, closing wells as demand and cash flow
Oil and gas drilling in Colorado hit a historic low in May with only six drill rigs operating and an average for the month of seven drilling platforms – the fewest in the 28 years that oil field services company Baker Hughes has kept monthly records by state.
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In the Denver-Julesburg/Niobrara Basin, which extends along the Front Range into southern Wyoming, seven rigs were operating mid-May the lowest level in Baker Hughes' basin database since it began in February 2011.
This may worth something:
Mayor O'Connell presents "fiscally conservative" FY2021 Taunton preliminary budget - News -
TAUNTON – Mayor Shaunna O’Connell on Monday night presented her fiscal year 2021 preliminary budget to the Taunton City Council.
The good news, according to O’Connell, is that there will be no layoffs or furloughs of municipal workers in FY2021.
The unsettling news, she said, is that there’s no way of knowing how much local aid might be cut by lawmakers on Beacon Hill.
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But by mid March, after it became clear that the coronavirus pandemic was going to severely affect the nation’s economy, Baker was quoted as saying that the economy and tax revenue in Massachusetts were both going to “take a big hit.”
Woodlands task force discusses spending cuts to plug budget holes caused by coronavirus - Houston
Monique Sharp, the assistant general manager for finance and administration, provided a prelimary COVID-18 budget task force report on May 21, telling directors there was positve news in regard to the township's revenue stream, including that $22.4 million of sales tax revenue had been collected through the end of April, an amount which is 44 percent of the expected yearly total officials had predicted.
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Planning for expected revenue losses due to the novel coronavirus in The Woodlands Township continues as members of an emergency budget task force have been devising numerous strategies to help offset lost sales tax and hotel occupancy taxes.
Pembroke leaders get look at FY 2020-21 budget with no tax increase | Robesonian
The Pembroke Town Council discussed the proposed 2020-21 fiscal year spending plan during Monday’s meeting. A public hearing on the budget has been scheduled for June 29.
PEMBROKE — The Town Council here set June 29 as the date for a public hearing and for debate and possible final approval of a fiscal year 2020-21 budget that includes no increases in taxes and fees.
Although a final figure was not discussed during Monday’s regular meeting, Town Manager Tyler Thomas spoke of modest, if any, changes to the upcoming year’s budget.
Iron ore boom is no silver bullet for the budget
Close to $2 billion of extra funds will flow into the federal budget on the back of the iron ore price rally, but experts say it won't cover the cost of the coronavirus pandemic and will be partially offset by falls in other commodity prices.
Surging futures prices on Monday suggested iron ore's push above $US102 per tonne could be extended, continuing a strong year in which iron ore and gold have been the only hard commodities to avoid price slumps in the wake of the pandemic.
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