The impact on business, updates and more.
The impact on business, updates and more.
| The Latest on the Coronavirus Pandemic |
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From CFO Journal and the WSJ Pro Staff |
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| | | | DHL Global Forwarding has declared force majeure on its freight shipping services, becoming the biggest operator in the logistics world to invoke the protection from penalties for failure to meet contract terms at times of a natural disaster. Other transportation companies also responded to economic fallout. XPO Logistics dropped its exploration of the sale or spin-off of business units as the coronavirus pandemic slams global markets and creates uncertainty for the shipping industry, writes Jennifer Smith. Shipping giant AP Moeller-Maersk A/S scrapped its full-year earnings guidance but said its 2019 dividend and share buyback will remain in place, reports Dominic Chopping. Temporary succession planning could become a more pressing issue in the coming weeks, as companies prepare for the possibility of executive absences related to the coronavirus pandemic, And, bosses face the challenge of devising ways to lead a workforce remotely while keeping them safe and calm. Trump Joins Democrats in Calls to Block Share Buybacks |
| | 24% | The expected contraction of the U.S. economy in the second quarter, according to Goldman Sachs Group. |
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| | | Almost 80% of hospitals in the U.S. now have some sort of telehealth service. PHOTO: MARK LENNIHAN/ASSOCIATED PRESS |
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| Federal judges shepherding the largest corporate bankruptcies in the U.S. are changing how they do business and preparing to use videoconferencing apps as they convene court hearings remotely in an effort to slow down the spread of the novel coronavirus. Liquidation plans at several bankrupt retailers, including Modell’s Sporting Goods Inc., the New York sporting goods chain, and Pier 1 Imports, are in flux. Liquidators who specialize in closing down stores need a new playbook for the shelter-in-place world. Soaring demand for telehealth and remote-care tools is prompting digital-health startups to ramp up quickly and could propel wider use of their technologies well after the new coronavirus is contained. How do you dress for the office when the new office is a video chat? |
| | “I define it as a generational opportunity to my investors. If you have dry powder, this is an optimal time to invest.” | — Ben Dell, a managing partner at New York-based Kimmeridge Energy Management |
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| | | | Business development companies, which raise money from investors and loan it to small, private businesses that need capital, have been among the hardest hit in this month’s stock market rout, WSJ Pro Private Equity’s William Louch reports. Trade groups representing advertising, insurance and other industries cited pandemic-related confusion such as office closures as the latest hurdles to meeting California's July 1 target for enforcement of privacy regulation, writes David Uberti for WSJ Pro Cybersecurity. As the spread of the new coronavirus quickly outpaces many governments’ ability to test for it, one British doctor is sending out test kits to anyone in the country willing to pay about $425. A pandemic can be a good time to work for a big company. As many small businesses operating with little cushion are laying off employees, dozens of large employers have extended pay and benefits to workers whose livelihoods are affected by the virus. |
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