Bloomberg
Published Jan 29, 2020 09:19PM ET
Updated Jan 30, 2020 12:53AM ET
Tesla Sees Delays; Apple, McDonald’s Close Stores: Virus Impact
(Bloomberg) -- Tesla (NASDAQ:TSLA) Inc. is expecting a production delay in China; McDonald’s Corp. and Starbucks Corp (NASDAQ:SBUX). closed thousands of stores combined in the country; Apple Inc (NASDAQ:AAPL). is preparing for supply-chain disruptions and Deutsche Lufthansa (DE:LHAG) AG halted all flights to and from the mainland.
Global corporations are grappling with a rapidly spreading SARS-like coronavirus that has killed at least 170 people and is threatening a key growth market.
Wuhan, the epicenter of the coronavirus that has infected more than 7,000 people, is a manufacturing, shipping and business hub. While supply-chain disruptions have been limited so far because many facilities already were idle for the Lunar New Year holiday, that may change as employers stay shut longer than normal. Local officials, including the municipal government in Shanghai, are extending the holiday until Feb. 9 or 10 in various parts of the country.
The reopening of some Apple suppliers following the Lunar New Year’s break was pushed to Feb. 10 from the end of January, Chief Executive Officer Tim Cook said. Toyota on Wednesday suspended operations in its China plants through Feb. 9.
Here is a summary of how some of the biggest companies are responding to the health crisis:
Business Impact
Written By: Bloomberg
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.