Some US companies are bracing for the revenue they make in China to be cut in half if the novel coronavirus outbreak extends into the summer.
CNN News, delivered. Select from our newsletters below and enter your email to subscribe.Hong Kong (CNN Business)Some US companies are bracing for the revenue they make in China to be cut in half if the novel coronavirus outbreak extends into the summer. Nearly half of US companies in China expect revenue from the country to fall this year if businesses can't return to normal before the end of April, according to a survey by the American Chamber of Commerce in China conducted earlier this month. And about a fifth of US companies said 2020 revenue from China will plummet by more than 50% if the epidemic extends through the end of August. Apple revenue will be hit as coronavirus creates iPhone supply shortages, company warnsThe coronavirus has killed 2,800 people so far, including 56 deaths outside of mainland China. It has sickened more than 82,000 people, the vast majority in China. Business in China ground to a halt when the outbreak accelerated late last month. Companies have been struggling to return to normal, as hundreds of millions of people in China remain under travel restrictions. Special trains and planes have been chartered to bring people back to the cities where they work, but even if companies can get their staff in the door, some have been struggling to meet requirements such as providing workers with masks. For the AmCham survey, US companies said global travel restrictions, reduced travel to and from China, supply chain disruptions and a shortage of necessary medical supplies are all affecting their business in China.Read More"There is, in the short term, a clear and significant negative impact to member company operations, through travel disruptions, reduced staff productivity, increased costs, significant drops in revenue, and more," AmCham China Chairman Greg Gilligan said in a statement. While the majority of companies surveyed say it is too early to estimate the cost of a delay in reopening business, about 10% of companies reported they are losing at least half a million yuan ($71 million) a day. Some companies are already starting to publicly disclose losses. ABInBev (BUDFF), the world's biggest brewer, said on Thursday that the coronavirus has already dented profit and sales."For the first two months of 2020, we estimate that the outbreak has resulted in lost revenue of approximately $285 million and lost (operating profit) of approximately $170 million in China," the company said. Marriott (MAR) said on Wednesday that the coronavirus could cost the company $25 million per month in lost revenue if the outbreak continues, saying it is experiencing low occupancy in the Asia Pacific region. Read more: CNN
Make sure you write a story about this every three seconds. Continue to scare the living shit out of everyone in the world and drive down the economy in any way possible to stop the Trump train. Corona virus travels through packages from Amazon and online shopping. STOP TRYING TO CREATE A PANIC!! SHAME ON YOU !!!!
To hell with China! Excellent news now we can really cut ties with China and start developing materials “made in the USA”. Good. Maybe they'll start hiring in the USA. Incredible
Papa John's shares tumble 10% after company closes 50 restaurants in China due to coronavirusPapa John's shares tumbled more than 10% Wednesday after the company said it has temporarily closed 50 franchised stores in China as a result of the coronavirus and reported a decline in same-store sales for the year. Well at least they wont have to eat mediocre pizza when they get past this 🙏🏻🙏🏻 Yeah, let's blame the coronavirus! 🤣🤣 whatever dude
Coronavirus news and live updates: More new cases outside China than inside - CNN• At least 2,800 people have died worldwide, the vast majority in mainland China. • There have been more than 80,000 global cases. • There have been infections in every continent except Antarctica. Follow the latest updates on the novel coronavirus: Just call it the flu... STOP all travel from China until this is under control If you’re reading this you could already have it and not know until 14 days later. You might as well spend your last days on your own terms. Go crazy, have fun. RIP to you all
New coronavirus cases outside China exceeded those in China for the first time, WHO says'The sudden increases of cases in Italy, the Islamic Republic of Iran and the Republic of Korea are deeply concerning,' Tedros Adhanom Ghebreyesus, director-general of WHO, said.
U.S. Companies in China Warn 2020 Revenue Could Halve If Coronavirus PersistsSome American companies say they could lose as much as half their annual revenue from China if the coronavirus epidemic extends through the summer, a survey by the American Chamber of Commerce in China finds. Phhhtttttt..... Looks to me like McDonald’s stock should take a heavy loss tomorrow morning....... (I/we never eat McDonald’s world....you shouldn’t participate either....) 🤟😎 Time to change store : BRING JOBS HOME NOW Thinking about the important stuff. Who cares if we're dead - what will the stonks be doing?
U.S. officials: Four more Diamond Princess passengers have coronavirus; U.S. cases at 57Four more passengers from the Diamond Princess cruise ship have tested positive for coronavirus COVID-19, bringing the total number of Americans infected from the ship to 40. Thank God our President, Donald J Trump, closed the borders - brought American manufacturing jobs back home and was/is a China hawk! Man that guy is one stable genius! What are stats of numbers infected versus deaths ? Why don't they just sink the damn ship? 😂
U.S. agency suspends self-driving shuttle EasyMile in 10 U.S. statesU.S. auto safety regulators said on Tuesday they had ordered a suspension of pas... The Chinese ones work perfectly Por que? cliffnotes