A number of multinational brands have suffered major finanical losses as a coronavirus outbreak affects countries across the globe and in multiple sectors.
In China, a number of companies have been forced to stay shut into next week, well beyond the country's Lunar New Year holidays.
Of course, the travel sector has been hardest hit by China's decision to quarantine dozens of cities and ban overseas tour groups, in an effort to contain the outbreak. In response, many other countries have told their nationals to avoid travel to China and banned arrivals from there.
Travel and Tourism
The Canadian government is warning travellers that they should avoid all non-essential travel to China due to the outbreak of a novel coronavirus. The advisory states that a number of airlines have suspended or reduced flights in and out of the country. Chinese authorities have also imposed travel restrictions in parts of the country, and further restrictions may be imposed on short notice. As a result, it may be increasingly difficult to travel within China or to exit it.
Leading carriers have cancelled all their flights to China including Air Canada, Air France-KLM, American Airlines, British Airways, Delta, Finnair, Lufthansa, United Airlines and Virgin Atlantic. with this in mind, Hong Kong's Cathay Pacific is suffering the biggest financial hit; this week the carrier asked its entire workforce of 27,000 to take up to three weeks of unpaid leave.
Casinos in Macau, normally a playground for the rich and the hopeful from mainland China, have closed their doors. So have Disney theme parks in Shanghai and Hong Kong.
MSC Cruises, Costa Cruises and Royal Caribbean have cancelled stops by their ships in China while others decided Friday to refuse any passengers who has been to China, Hong Kong or Macau in the previous 14 days.
Electronics
Taiwan tech giant Foxconn is telling some staff to stay away for up to 14 days, which is the incubation period of the virus, even after it resumes most production on February 10. Foxconn assembles everything from Apple's iPhones to flat-screen TVs and laptops, which could affect global supply chains for tech companies.
With this in mind, Apple is developing "mitigation plans" to make up for any production loss from its suppliers in China.
South Korea's LG Electronics and Swedish group Ericsson have withdrawn from this month's Mobile World Congress, the leading showcase for the smartphone industry, citing expert advice to avoid non-essential travel.
Chinese telecoms groups such as Huawei and ZTE say they will take precautionary measures and limit their presence at the Feb. 24-27 conference in Barcelona.
Automotive
Wuhan, the central Chinese city that is ground zero of the outbreak, is also a hub for foreign carmakers from the United States, Europe, Japan and South Korea.
The extended holidays have limited the immediate impact on their production in Wuhan itself. However, concerns are growing about spillover effects, including on auto suppliers around China. For example, Hyundai Motor stated that it is suspending all production in South Korea because of a lack of parts from China. Toyota has extended the closure of its Chinese plants to February 16.
Electric car pioneer Tesla says the virus could delay a planned acceleration of production at its giant new factory in Shanghai, and potentially affect earnings this quarter.
Food and Beverage
The second-biggest market of the US coffee chain Starbucks, Mainland China has over a staggering 4,000 outlets; half of them have been closed by the outbreak.
Similarly, McDonald's has closed all of its "several hundred" restaurants in Hubei. However, some 3,000 others in China remain open.
Pizza Hut and KFC are also suffering closures in Hubei province imposed by their Chinese parent company, Yum China.
Other Industries
HSportswear giants Nike and Adidas have shuttered hundreds of stores in China and warned of a negative impact on their performance this quarter.
European plane maker Airbus has halted production at its plant at Tianjin, east of Beijing.
Heavy-equipment maker Caterpillar, which has already suffered from the Sino-US trade war, warned of "continued global economic uncertainty" this year.
Winning Industries
While a number of companies are suffering due to the outbreak, a few companies are thriving. For example, 3M, a leading maker of protective face masks, is cranking up production.
The server of British games studio Ndemic Creations went down in late January after a surge in popularity for its title Plague Inc., in which players vie to "bring about the end of human history by evolving a deadly, global plague".
- With files from Relax News.
