coronavirus costs News

Coronavirus Leads Companies with Supply Chain Disruptions to Invoke ‘Force Majeure’

With the coronavirus outbreak that originated in Hubei province, China, showing no signs of abating any time soon, some companies that buy and sell goods in the Chinese market are taking interest in the legal defense of “force majeure.” The …

Coronvirus Led to Cancellation of Telecoms Meeting, but Insurance Cover Is Excluded

Companies that have spent money on a major telecoms conference in Barcelona that has been canceled after mass withdrawals due to the coronavirus outbreak cannot expect compensation under the organizers’ standard insurance, they said on Thursday. The GSMA telecoms body …

Insurers Rush to Exclude Coronavirus Epidemic from Event-Cancellation Protection

Businesses looking to buy cancellation insurance for events around the world will not be able to get cover for the new coronavirus outbreak, industry sources said, as insurers rush to exclude the epidemic from their policies. The Shanghai Grand Prix …

Coronavirus Clouds U.S. Outlook But Economic Impact Should be Modest: S&P

The coronavirus outbreak in China is clouding the global outlook and leading to both business caution and potential overall weakness in U.S. growth, according to S&P Global. However, given its limited exposure, the U.S. economy should experience only modest impact. …

Coronavirus Hits Trade Fairs, Industry Conferences

Feb 7 (Reuters) – Over two dozen large trade fairs and industry conferences in China and overseas have been postponed or hit by travel curbs and concerns about the spread of a coronavirus, potentially disrupting billions of dollars worth of …

China’s Coronavirus Deaths, Infections Rise; Supply Chains, Production, Travel Disrupted

China’s fast-moving coronavirus spread among passengers of a quarantined Japanese cruise liner on Thursday and dragged down production at more global businesses, as scientists across the world searched for a vaccine. The death toll from the virus in mainland China …

Factbox: How Companies Are Reacting to Coronavirus

Companies around the world have warned that a coronavirus outbreak in China could disrupt supply chains or hurt bottom lines as factories and shops shut and airlines suspend flights. FINANCIAL IMPACT: * Apple gave a wider-than-usual revenue outlook range for …