Apple Inc warned that its sales would suffer because of the epidemic, hurting both supply and demand, an announcement that cast a chill on global stock markets.
World Health Organisation Director-General Tedros Adhanom Ghebreyesus said Chinese data"appears to show a decline in new cases" but any apparent trend"must be interpreted very cautiously". Epidemiologists say data needs to be treated with caution, and may fluctuate because of factors such as the resources available for testing.
While China says its lockdown of cities and tough curbs on travel and movement have limited the spread of the virus, this has come at great cost to its economy, with repercussions for global businesses. Apple became the latest company to warn of trouble, saying it would not meet its guidance for March-quarter revenue because of slower iPhone production and weaker demand in China.Economists are warning of mass layoffs in China later this year if the virus is not contained soon.
South Korean President Moon Jae-in said the economy was in an emergency situation and required stimulus as the epidemic had disrupted demand for South Korean goods.
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Source: staronline - 🏆 4. / 75 Read more »
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Source: NST_Online - 🏆 17. / 53 Read more »
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Source: malaymail - 🏆 1. / 86 Read more »
Covid-19 infections slow in China as Apple becomes latest business casualty | Malay MailBEIJING, Feb 18 — The number of new coronavirus infections in mainland China fell below 2,000 today for the first time since January, although global experts warn it is still too early to say the outbreak is being contained. The economic fallout from the epidemic spread to US technology titan...
Source: malaymail - 🏆 1. / 86 Read more »
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