)Hasbro has previously said that China is responsible for about two-thirds of its global sourcing.
Though some UFC events are still ongoing as of March 16, Joe Asher, CEO of sports bookmaker William Hill, told Sports Illustrated that the entire sports betting industry will have "pretty much zero revenue" until sporting events resume.
Supply-chain disruptions due to the coronavirus are likely to increase the cost of business for manufacturing and construction companies, said Elise Gould, an … Two large airlines, Delta and United, each announced plans to reduce capital investment by $2 billion each as a result of the pandemic's economic impact. Before COVID-19, there was already a shortage of over 1 million health-care jobs, according to Burning Glass Technologies.
“We are carefully monitoring the impact that COVID-19 will have on our workforce.”Some 1.3 million people work in food and beverage stores, according to the latest government report. )In the manufacturing industry, many employers are actually struggling to fill openings because the positions have become more technically sophisticated than they were in past decades, according to an April 2019 To help stimulate long-term job growth in the U.S., NAM called upon lawmakers to reduce tariffs on U.S. exports. New games and consoles are often unveiled at the event, which usually hosts over 65,000 guests a year. Gambling giant Wynn Resorts is also one of the coronavirus stocks suffering financially from the outbreak.
Prior to the pandemic, the IEA projected an increase in demand of over 800,000 barrels. Major cities have ordered restaurants to only offer takeout options as a preventive measure.
Industry group Cruise Lines International Association said the cruise industry contributes $53 billion to the U.S. economy every year. Some cities and states have told restaurants to switch to takeout only.
Hanks' film was one of a dozens of films and TV shows that halted production – either out of caution or because a cast or crew member had symptoms, tested positive, or came into contact with someone who did. Many drivers are reporting 50% declines in income as fewer people use ride sharing services. Major League Baseball canceled the remainder spring training, and the National Hockey League said it’s suspending the 2019-20 season, effective immediately.The manufacturing and construction industries will be more likely to hold off on making any big decisions on layoffs, said Rubeela Farooqi, chief U.S. economist at High Frequency Economics, a New York-based economic research company. There are an estimated 300 staff workers in a 20,000-seat arena, like those that host NBA games.The NHL does not make as much as the NBA but could lose a larger share of its expected yearly revenue.
Here's a look at 7 industries that are affected by the COVID-19 coronavirus.
The price of oil has been in an unprecedented freefall, selling for under $30 per barrel as of March 16. Besides, there is a fear that the banks and NBFCs may see a rise in NPAs as COVID-19 has hit businesses strongly as several small and medium-scale industries are on the cusp of collapsing. Firms in the textile, apparel and leather industries tend to anticipate the largest plunge in profits and jobs, while firms in the chemical, plastic and rubber industries expect below average decreases (Figure 9). Those asset-light companies who can pass on the losses to the owners will do fine," Niser says.
For context, no weekend box office in 2020 pulled in less than $80 million.The effects could stretch for months, as blockbusters like "Mulan," "A Quiet Place Part II," "Fast 9," and the latest James Bond film, "No Time to Die," were slated to be released in the coming weeks, but all these releases were pushed back. The effects on the oil industry have been especially dire because China, the world's top energy consumer, was the first to be hit as the source of the outbreak. China is one of the world's foremost shipping hubs, but COVID-19 has forced the country to close ports and send factory workers home. …
It also plans to cut capacity in half for April and May. The International Chamber of Shipping said the pandemic has cost the worldwide industry around $350 million per week.The outbreak has affected everyone in this highly globalized industry, and Americans are no exception. Production of video game consoles, smartphones, and smartwatches are all predicted to drop by over 10%. Regal announced it would close all of its theaters until further notice, more than 500 in total, leaving over 25,000 employees without work.The postponement or suspension of sports leagues like the NBA, NHL, XFL, and more have created a huge vacuum not just for the leagues and players, but also the wide-ranging ecosystem that has cropped up around them. It recommends avoiding all nonessential travel to South Korea and Italy as well as Japan for adults who may have underlying respiratory illnesses.The National Basketball League said it will suspend the regular season indefinitely.
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industries most affected by coronavirus