BPO firms try to stay open after quarantine

March 20, 2020 | 12:11 am

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BUSINESS process outsourcing (BPO) companies are racing to comply with requirements to remain
operational under minimal workforce arrangements amid the enhanced community quarantine in
Luzon.

The country’s business process outsourcing group advised its member companies to continue
operations under the conditions outlined by the government.

In a statement on Thursday, the Information Technology and Business Process Association of the
Philippines (IBPAP) said it has circulated advisories released by the labor and transportation
departments and the Interagency Task Force for the Management of Emerging Infectious Disease to
member companies.

“These guidelines allow our sector to be more agile despite the restrictions imposed by the enhanced
community quarantine — catering to the needs of our people, clients, and other stakeholders while
taking preventive measures to protect them from COVID-19,” IBPAP Chief Executive Officer Rey C. Untal
said.

President Rodrigo R. Duterte on Monday announced a month-long enhanced community quarantine on

Luzon, enforcing strict home quarantine and suspending public transportation.

In addition to companies that provide basic necessities, business process outsourcing and export-
oriented companies are allowed to remain operational under minimized workforce arrangements, and
on the condition that the companies apply social distancing measures and provide temporary
accommodation.
These arrangements need to be set up by March 20, according to a memorandum from the Office of the
President released on Wednesday.

Concentrix Philippines, in an e-mailed response to questions, said on Thursday that the suspension of
public transport has disrupted the mobility of majority of staff who rely on the services to reach work.

“We have various offices in Luzon that were all impacted,” it said.

The company said that a work-from-home model is “highly unusual” for the outsourcing industry, as its
operations require complex tools and high-level data security.

“But we are working very fast with our staff and clients on enabling the work-at-home set up for those
who are eligible,” it said.

Concentrix is working on giving the remaining on-site staff temporary accommodations, either in their
offices or in nearby hotels.

The company is also releasing P1 billion in temporary support for the staff, including advanced provision
of pro-rated 13th month pay, a zero-interest calamity loan for medical, house rental, utilities, and tuition
fee expenses, and salary advances for Luzon staff who are unable to go to work.

Teleperformance Philippines in a statement on Wednesday said that the company is offering on-site
accommodation, meals, and transport for as long as it is allowed.
The company is also releasing a portion of 13th month pay, offered enhanced premiums for on-site staff,
and assured staff of access to health maintenance organization services.

Employees who are unable to report to work were advised to stay home.

Transcom Asia Philippines on Monday suspended its Metro Manila operations, and released pay in
advance of two weeks to employees. The company said it will be “ready to resume work immediately
within the given parameters.”

Accenture Philippines and Telus International Philippines declined to comment. — Jenina P. Ibañez
Work-from-home surge slowing internet services

March 19, 2020 | 7:46 pm

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THE Department of Information and Communications Technology (DICT) said the Luzon-wide lockdown
being implemented to contain COVID-19 (coronavirus disease 2019) slowed Internet speeds due to a
surge in users.

“Kung may congestion, magkakaroon ng slowdown ng internet natin at minsan mawawala pa (With
congestion, Internet speed slows and disappears sometimes)” Undersecretary Eliseo M. Rio, Jr. told
BusinessWorld via phone Thursday.

He noted that the improved services by telecommunications companies have helped cushion the impact
of the outbreak on their operations.

“Disruptions are happening, (but) in fairness to the telcos, they have improved. Kasi kung two or three
years ago nangyari ito (had this happened to or three years ago), it would have been worse,” he said.

Telco service providers have been seeking to ensure continuity of operations to handle the surge of
users working from home.

Mr. Rio noted the Philippines has one of the lowest tower densities in Asia, which means Internet
congestion is normal during the lockdown period.
“Our tower density is around 6,000 subscribers per tower when the ideal is only supposed to be not
more than 1,000,” Mr. Rio noted.

He also asked the public to be patient in the event of outages caused by congestion.

“Our infrastructure is not enough but the department has done something about it. For example, we
started adding common towers this year. But it takes time to build towers. Perhaps, we have added 400
towers all over the country,” he said.

The DICT has been pushing for telcos to share infrastructure since 2017.

The government is hoping 50,000 shareable towers will be built within the next seven to 10 years to
close the tower density gap with neighboring countries. — Arjay L. Balinbin
Businesses Are Giving Away All Their Excess Toilet Paper to People in Need During COVID-19 Shutdowns

By McKinley Corbley -Mar 19, 2020

As supermarket shelves around the world are cleared of hand sanitizer and toilet paper amidst the
COVID-19 outbreaks, businesses are taking it upon themselves to share their wealth with community
members in need.

Atlanta-based marketing firm Trevelino/Keller is just one of many companies that have temporarily
closed down during the quarantine. With storage closets filled with enough toilet paper for 1,000
employees, the company decided to give away all of their TP for free.

The company has since launched the Toilet Paper Exchange—an employee-run initiative to distribute
the toilet paper to the community through “Toilet Paper Tosses”.

Company employees have already given away heaps of toilet paper by hosting drive-thru giveaways
during which they maintain social distancing by hurling rolls of TP through peoples’ car windows

In Wisconsin, the Milwaukee-based Mequon Pizza Co. has taken a similar approach by giving away free
rolls of toilet paper with their pizza deliveries.

“Our regular, massive shipment was just delivered so for every large pizza you purchase we will give you
a free roll of Cottonelle, 2-ply toilet paper, if you need it! Just ask,” the restaurant wrote on Facebook.
“If you need toilet paper, rolls are available for purchase (limit 6) at our cost of $1.”
While other individuals and restaurants from New York to San Francisco have also started their own
toilet paper exchanges, they are all hoping to inspire other people to take similar action in their own
neighborhoods.
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STARTUP

8 Wacky Entrepreneur Stories to Inspire Your Own Business Success

Many entrepreneurs are known for being colorful characters, here are 8 colorful stories to help inspire
your own business success.

By Adam HeitzmanCo-founder, HigherVisibility@HigherVis

GETTY IMAGES

The business world might appear buttoned-down from the outside - but in reality, it's a lot more
interesting than you might realize. Many entrepreneurs are known for being colorful characters, both at
work and in their personal lives. After all, following rules and staying inside the lines doesn't often make
for business success! From winning seed money in a poker game to attempting to clone dinosaurs, here
are eight unexpected things that entrepreneurs have done.

1. John Paul DeJoria Bounced Back from Homelessness

You've probably heard of Paul Mitchell hair products and Patrón tequila, but did you know these brands
have a common origin? John Paul DeJoria co-founded both legendary companies, becoming a billionaire
along the way. The path to success wasn't always easy for him, though. DeJoria spent time on the
streets twice. The first time he was homeless, he was only 22 and had a two-year-old son to care for. He
persisted in his entrepreneurial vision, though, eventually co-founding John Paul Mitchell Systems with
$700 in startup cash. Today, DeJoria is a philanthropist who supports a number of social causes. Among
other things, he helps to provide resources to people dealing with homelessness.

2. David Daneshgar Won Startup Money by Playing Poker

What's the quickest way to come up with $30,000? If you're a card shark like David Daneshgar, the
answer might be to sign up for a poker tournament. Daneshgar and two friends wanted to start an
online marketplace connecting florists with customers, but they didn't have startup cash. So Daneshgar -
who won the World Series of Poker in 2008 - spent $1000 to enter a poker tournament. The grand prize
of $30,000 was, coincidentally, just the amount of money they needed. At the end of the tense final
round, Daneshgar told his friends what they wanted to hear: "It's flower time." They launched their
business, BloomNation, soon afterwards.

3. Seth Priebatsch Took Dedication to a New Level - While Barefoot

In 2011, SCVNGR - a social app similar to FourSquare - was a $100 million company with a rather non-
traditional CEO. Founder Seth Priebatsch, the self-described "chief ninja" of the company, was 22 years
old at the time, and he had a habit of eschewing footwear at the office. He also sported a bright orange
shirt every day and rarely went home from work, preferring to sleep in his office. Priebatsch
transformed SCVNGR into a mobile payments platform called LevelUp in 2012, but he kept his title of
Chief Ninja and his signature orange shirt.

4. Nicholas Berggruen Decided Not to Bother Buying a House

For most billionaire businesspeople, having more than one home is par for the course. But for years,
Nicholas Berggruen avoided ever buying a house at all. He opted to live exclusively in hotels while
traveling the world instead, which earned him the curious nickname of "the homeless billionaire."
Recently, though, Berggruen decided to put down some roots. He finally bought a $40 million house in
2017, perhaps wishing to give his two young children a stable place to grow up.

5. Mark Zuckerberg Killed His Own Food

In 2011, Facebook founder Mark Zuckerberg undertook a personal challenge to only eat meat that he
killed himself. He announced this challenge to the world with his now-infamous status update, "I just
killed a pig and a goat," on May 4, 2011. Zuckerberg soon clarified that he took on the challenge in an
effort to learn about sustainable farming and to consume resources more responsibly. The change
wasn't permanent, though. After the year-long challenge was over, Zuckerberg went back to buying
meat at the store.
6. Clive Palmer Tried to Clone a Dinosaur

What if Jurassic Park wasn't just a movie? Eccentric Australian businessman Clive Palmer wanted to
make dinosaurs a reality through cloning, and he went so far as to discuss the idea with scientists. This
happened in 2012, and since cloning techniques still haven't advanced enough to bring back extinct
species, it doesn't look like Palmer's dreams will be coming to fruition anytime soon. However, his love
for dinosaurs abides. In 2013, he opened a theme park called Palmersaurus that features over 160
enormous dinosaur replicas.

7. Mark Benioff Staged a Protest to Steal a Competitor's Spotlight

Mark Benioff, one of the founders of Salesforce, is notorious for coming up with over-the-top (and
sometimes inflammatory) marketing gimmicks. Most famously, he once orchestrated a fake protest at a
Siebel Systems conference, complete with picket signs, chanting, and even a fake TV crew. This
drummed up a lot of attention for Salesforce at his rival's expense. On another occasion, Benioff
arranged to rent an airport's entire taxi fleet right before another Siebel event was held nearby. He then
had his employees pitch Salesforce on the way to the event, much to Siebel's displeasure.

8. Robert Klark Graham Tried to Create a Genius Sperm Bank

Robert K. Graham was an entrepreneur who invented shatter-proof lenses for eyeglasses. Today,
though, he's probably better remembered for the controversial sperm bank he started. Called the
Repository for Germinal Choice, this sperm bank only accepted donations from people who were
considered extraordinary in some way. Some were Nobel prize winners, some were geniuses, and some
were gifted athletes. Graham's reason for starting the sperm bank? He wanted to create a better human
gene pool - a mission that did not go over well with many people, who compared his ideas to Nazi
eugenics programs. The sperm bank was closed in 1999, two years after Graham's death. It claimed to
have produced 229 children during its 19 years of operation.

Wrapping Up
Entrepreneurship tends to attract people with unique minds and strong personalities, and that can make
for a lot of interesting stories. Do you have any wacky entrepreneur moments of your own to share?
We'd love to read your stories, whether inspiring or just plain entertaining, in the comments below!
Philippines shares rebound as Asian markets seek calm from pandemic fears

ABS-CBN News and Reuters

Posted at Mar 20 2020 10:36 AM

MANILA -- Philippine shares on Friday rebounded from one of the steepest falls on record, as financial
markets in Asia saw relief in Wall Street's overnight gains.

Strong demand for the dollar worldwide, however, indicate that the COVID-19 crisis was not yet over,
analysts said.

The Philippine Stock Exchange Index was up 4 percent to 4,808.81 in early trading. On Thursday, Bangko
Sentral ng Pilipinas Governor Benjamin Diokno cut the benchmark interest rate by 50 points.

Bangko Sentral cuts benchmark interest rate in response to COVID-19

Philippine shares dive at resumption of trading, as COVID-19 rattles world markets

As the spread of the coronavirus brought much of the world to a halt, nations have poured ever-more-
massive amounts of stimulus into their economies while central banks have showered markets with
cheap dollars to ease funding strains.

Sources told Reuters China was set to unleash trillions of yuan of fiscal stimulus to revive an economy
facing its first contraction in four decades.

"The speed and aggression with which authorities are wheeling out measures to cushion the economic
fallout from the virus and sewing the seeds for a hopefully rapid recovery, has resonated somewhat in
equity markets," said Ray Attrill, head of FX strategy at NAB.
"Yet there is little doubt that funds need to buy dollars to rebalance hedges in light of the 30 percent fall
in equity markets so far this month," he added. "The dollar remains the pre-eminent safe-haven asset
during time of extreme market stress."

The dollar's surge is a nightmare for the many countries and companies that have borrowed heavily in
the dollar, leading to yet more selling of emerging market currencies in a negative feedback loop.

Global economy already in recession due to COVID-19: Reuters poll

Cash dash has dollar set for best week since 2008 crisis

Such was the stress that dealers hear whispers of a new Plaza Accord, the 1985 agreement when major
central banks used mass intervention to restrain a rampant dollar.

For now, investors in Asia were merely happy Wall Street had not plunged again and South Korean
shares bounced 2.6 percent, though that still left them down 15 percent for the week.

MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.6 percent, while Australia's
beleaguered market rose 2.9 percent. Japan's Nikkei went the other way and dipped 1 percent.

Gains in tech stocks had helped the Dow rise 0.95 percent on Thursday, while the S&P 500 gained 0.47
percent and the Nasdaq 2.3 percent.

However, E-Mini futures for the S&P 500 slipped 1.7 percent in early Asian trade on Friday, a pattern of
weakness seen every day this week.

OIL RALLIES

Aiding sentiment was a 25 percent rally in oil prices overnight. US crude added another 53 cents to
$26.44 a barrel on Friday, up from a low of $20.09, while Brent crude stood at $28.46.
This was a major relief as the collapse of crude prices had blown a huge hole in the budgets of many oil
producers and forced them to dump any liquid asset to raise cash, with US Treasuries a particular
casualty.

That was one reason yields on US 10-year Treasuries had climbed over 100 basis points in just nine
sessions to reach 1.279 percent, before steadying a little at 1.15 percent.

At the same time, funds across the world were fleeing to the liquidity of US dollars, lifting it to peaks last
seen in January 2017 against a basket of its peers.

"Such price action suggests significant market stress, particularly on the wide range of entities outside
the US that have borrowed in dollars," said Richard Franulovich, head of FX strategy at Westpac.

"It could last until global capital flows and investor risk appetite normalizes, possibly months away."

The euro was down near three-year lows at $1.0660, having shed 4 percent for the week so far - the
steepest decline since mid-2010. The dollar was also up 3.2 percent for the week at 111.33 yen , the
largest gain in more than three years.

Sterling sank to its lowest since 1985 after the Bank of England surprised by cutting rates to 0.1 percent.
The pound was last at $1.1484 and down a staggering 6.5 percent for the week.

The jump in the dollar has made gold more expensive in other currencies and pushed its price down 3.7
percent for the week to $1,471.39 per ounce.
Bangko Sentral cuts benchmark interest rate in response to COVID-19

ABS-CBN News

Posted at Mar 19 2020 02:55 PM | Updated as of Mar 19 2020 03:18 PM

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MANILA -- (UPDATE) The Bangko Sentral ng Pilipinas cut the benchmark interest rate by 50 basis points
on Thursday, seeking to defend the economy from the COVID-19 pandemic that plunged the stock
market by record.

The overnight reverse repurchase rate, used by banks to price loans, will be set at 3.25 percent effective
Friday, BSP Gov. Benjamin Diokno said in a text message to reporters.

The BSP also authorized "time-bound, temporary relaxation" of regulations on banks' compliance
reporting, calculation of penalties on required reserves and single borrower limits, Diokno said.

The term spread on rediscounting loans relative to overnight lending rate was temporarily reduced to
zero, Diokno said. Detailed guidelines will be released later Thursday, he said.

Philippine shares dive at resumption of trading, as COVID-19 rattles world markets

P27.1 billion spending plan readied vs COVID-19, says finance dept

LIST: Philippine banks extend loan due dates to help Filipinos cope with COVID-19 lockdown

Philippine stocks sank nearly 19 percent at the start of trading Thursday, following a 2-day break,
triggering a trading halt. It closed 13.34 percent lower to 4,623.42.
The Bangko Sentral’s rate cut came after the Department of Finance announced a P27.1 billion spending
plan to help fight the COVID-19 pandemic.

The entire Luzon island, home to half the population, is on lockdown until April 12 to stop the spread of
the disease. People are advised to stay at home and travel is restricted to essential supplies and first
responders.
Gov't releases guidelines for job order, contract workers during COVID-19 lockdown

ABS-CBN News

Posted at Mar 20 2020 02:10 PM

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MANILA - The Commission on Audit and the Department of Budget and Management released a circular
detailing arrangements for job order and contract of service workers employed by various government
agencies during the COVID-19 lockdown.

"As government agencies have begun adopting alternative work arrangements for this situation, there is
a need to integrate COS and JO workers' work schedule and their welfare in the internal guidelines of
government agencies that are engaging their services," according to the circular dated March 19 and
was released to the media by Sen. Christopher Bong Go Friday.

Job order (JOs) and contract of service (COS) in Luzon in areas under enhanced community quarantine
"may be considered" for the following work arrangements only:

1. Work from home

2. Skeletal workforce - for the PNP, AFP, PCG, emergency frontline service, border control and other
critical services

Those in Visayas and Mindanao in areas under general community quarantine may be considered for the
following only:

1. Skeletal workforce
2. Work from home

3. Compressed work week

4. Staggered working hours

The order covers all COS and JO workers directly engaged by departments, bureaus, offices and agencies
of the National government including Constitutional offices, state universities, government-owned and
controlled corporations and local water districts during the duration of the State of Calamity and
community quarantine, the circular said.

President Rodrigo Duterte placed the entire country under a state of calamity last March 16.

Those required to work from home shall be paid their corresponding salaries/wages during the period, it
said.

Those not required to report for work due to work suspension and those who are not part of the
agency's skeletal workforce will be paid their corresponding salaries during the community quarantine
period "as exception to the no work, no pay principle for this occasion only," it said.

Local government units "are encouraged" to adopt this circular that took effect immediately, it said.
SM assures employees of pay, frontline staff get premium

ABS-CBN News

Posted at Mar 20 2020 02:13 PM

The SM group assured its employees of regular compensation as well as a P5,000 aid for security guards
and janitorial staff for the duration of the Luzon-wide lockdown. Handout

MANILA - The SM group on Friday said employees would receive regular compensation while frontliners,
security guards and janitorial staff will get emergency assistance during the COVID-19 lockdown.

All employees will receive their salaries as scheduled during the enhanced quarantine period without
deductions made against their vacation and sick leave while the frontliners will get additional premium
pay, SM said in a statement.

Security guards and janitorial staff will receive an assistance amounting to P5,000 for the period, it said.

“Let’s be mindful of our frontliners and help with their need to be alert so they can continue to do their
best in working for the safety and health of our communities,” said Hans Sy on behalf of the Sy family.

SM Supermalls earlier said it would waive tenant fees for partners affected by mall closures due to the
COVID-19 pandemic. It also donated some P100 million worth of protective equipment, testing kits and
other supplies.
...

1,454 views|Jan 31, 2020,07:20am EST

How The Coronavirus Epidemic Is Costing The Movie Industry $1billion Already

Paul ArmstrongContributor

Enterprise Tech

Concern In China As Mystery Virus Spreads

Concern In China As Mystery Virus Spreads

BEIJING, CHINA – JANUARY 28: A Chinese man wears a[+]

GETTY IMAGES

With +70,000 theatres, China has the most theatres of any country and thanks to its 1.4 billion residents,
China raked in about $9.2 billion at the box office last year, propping up a poor year for US theatres.
Suffering one of its worst epidemics for decades, the Coronavirus is killing something else, movie ticket
sales and future film production.

The government in China has closed all theatres as it seeks to stop the spread of the virus and get a grip
on the issues epidemics cause beyond simple places where a lot of people gather. Accounting for 33% of
global box office revenue, the impact that the shutdown will have isn’t small nor just local. The knock on
effects are already being felt as productions are paused/halted around the world and the knock-on
effects for individuals and agencies who rely on the steady flow of work that movies provide are
beginning to be felt. Some studios are simply releasing movies online but most have paused release
schedules:

One studio, Huanxi Media, responded to the crisis by deciding to release its widely anticipated holiday
tentpole Lost in Russia online for free instead of waiting for cinemas to reopen. The company had
scrambled to ink the streaming deal within just 24 hours, signing a partnership agreement on Jan. 23
with rising video giant ByteDance, best known as the company behind TikTok. The internet firm paid
Huanxi a one-time fee of 700 million Hong Kong dollars ($90 million), and the parties agreed to share
whatever advertising revenue was generated.

Hollywood Reporter

Epidemics need containment, ironically, mirroring the way China controls its movie laydown with caps
and limited placements. Currently, the issue for the virus is containment which is not being helped by
massive public holidays (Lunar New Year and Spring Festival) when hundreds of millions of people begin
moving around the country to visit hometowns.

Movies aren’t the only area that the epidemic is affecting. China isn’t stopping at theatres, Disneyland
Shanghai has closed as have over 200 Starbucks, McDonald’s and KFC food outlets in China. Apple CEO,
Tim Cook, mentioned the epidemic on the Q4 earnings call saying “wider than usual revenue range”
during Q1 2020 “due to greater uncertainty” amid the outbreak. Google and Amazon are culling travel
and advising people to extend vacations and work from home. Other businesses and industries will
continue to be affected by the virus too:

The Hollywood Reporter Editor, Matthew Belloni, tweeted out sobering numbers:

Last year, the first weekend of Lunar New Year generated $500M at the China box office. This year: $2M,
and it’s getting worse.

Matthew Belloni / Hollywood Reporter

With current registered cases nearing 9,000, the Coronavirus has only just arrived and will get worse
before it gets better. The World Health Organisation has asked countries to “take action” and changed
the status of the virus to a global health emergency. Businesses can take steps to minimise impact in a
number of ways not just quarantining their employees:
talk to them to belay their fears/help them plan

checking backups work

bolstering interconnectivity

preparing for reopen

checking/reviewing disaster plans

checking/reviewing insurance policies

The real amount businesses rely on China is about to felt around the world until the Coronavirus is
stopped.
LIVING

How coronavirus benefits Netflix and other ‘in-home’ services

By Todd Spangler, Variety

February 28, 2020 | 9:19am

person using Netflix at home

Shutterstock

Amid fears over a global economic slowdown from the widening coronavirus outbreak, companies like
Netflix that provide in-home services are best positioned to withstand the storm or even see upside
from the crisis, according to industry analysts.

Netflix “is an obvious beneficiary if consumers stay home due to coronavirus (COVID-19 virus) concerns,
and this has been reflected in considerable stock price outperformance this week,” BMO Capital Market
analyst Dan Salmon wrote in a research note Friday.

Netflix shares are up 0.8% this week through market close Thursday, amid the worst sell-off on Wall
Street in nearly nine years over fears that a broader spread of the coronavirus may lead to a worldwide
recession. The S&P 500 index has plunged 8.3% this week through Feb. 27.

In addition to Netflix, other tech companies catering to internet-connected consumers at home that
could benefit from coronavirus include Facebook, Amazon, Peloton and Slack, according to MKM
Partners analyst JC O’Hara. “We tried to identify what products/services/companies would potentially
benefit in a world of quarantined individuals,” O’Hara wrote in a note Thursday, per CNBC. “What would
people do if stuck inside all day?”
Earlier this week Perry Sook, CEO of TV giant Nexstar Media Group, also put a positive spin on how
coronavirus could affect his business. Nexstar is the largest owner of broadcast TV stations in the U.S.
after acquiring Tribune Media last year, with a footprint spanning 197 stations and digital multicast
networks in 115 markets.

If coronavirus cases become “more widespread in the United States, and there’s more quarantine in
home and all of that, then it could potentially benefit our business because we’d be the primary source
of entertainment,” Sook said on Nexstar’s Feb. 26 earnings call when asked about the potential financial
impact of the virus.

To date, there have been 83,704 confirmed cases of coronavirus infection and 2,859 deaths, the
majority in mainland China, according to the Johns Hopkins Center for Systems Science and
Engineering’s coronavirus tracker.

Other analysts have identified home-entertainment providers as seeing a potential silver lining from a
wider spread of the virus. “If the contagion became more internationally widespread but short of panic,
more people are likely to seek home entertainment options such as from companies like Comcast and
AT&T, and streaming TV shows and films from Netflix, Disney Plus, Comcast’s Peacock, AT&T’s HBO Max
and others,” Moody’s Investors Services analysts led by Neil Begley commented in a Jan. 29 report.

Companies feeling the most immediate impact from the pandemic have been those with direct
exposure to China’s manufacturing sector. Earlier this month, Apple warned investors it would miss
revenue estimates for the March 2020 quarter, citing slowdowns in its iPhone supply chain and lower
sales in China due to the virus outbreak.

Apple CEO Tim Cook suggested that the worst is over in an interview with Fox Business Channel
Thursday. “It feels to me that China is getting the coronavirus under control. You look at the numbers,
they’re coming down day by day by day,” Cook said. “And so I’m very optimistic there.”

Among the latest coronavirus-related disruptions, Facebook canceled its F8 2020 developers conference
and Disney announced that it will shut down its Tokyo Disneyland and Tokyo DisneySea theme parks for
two weeks as a precautionary measure. Meanwhile, K-pop sensations BTS have axed their scheduled
April concerts in South Korea over coronavirus concerns. Organizers of the Geneva International Motor
Show canceled the event that had been scheduled for next month after a government edict banning
gatherings of 1,000 or more people until mid-March.

FILED UNDER AMAZON , CORONAVIRUS , FACEBOOK , NETFLIX , PELOTON