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30.01.2020 8 CORONAVIRUS STARBUCKS became the latest multi- national company to announce emer- gency measures over the coronavirus last night, temporarily shutting down stores in China. e coffee chain said it had shut- tered more than 2,000 stores in its sec- ond-largest market as the death toll rose above 130 from the outbreak. A growing list of global firms have shut stores, suspended factory lines, can- celled services or ordered staff to work at home in a bid to contain the threat. With stock markets sliding around the world this week, here are some of the ways major companies are making con- tingency plans, according to Reuters: Shops and food outlets shut their doors Starbucks's decision in its fast- est-growing market came after Mc- Donald's shut outlets in five cities in the Chinese province at the centre of the outbreak, Hubei. Restaurant giant Yum China has al- ready closed some KFC and Pizza Hut stores in Hubei's provincial capital Wu- han. Many retailers have also decided to shut up shop, with the province de- scribed as "under virtual lockdown" since the virus reportedly emerged in a wild animal market last month. H&M has closed 45 stores and sus- pended business travel in China, Uniq- lo's owner Fast Retailing shut around 100 branches and Apple closed one. e iPhone maker also reduced hours at other branches as footfall has fallen. Swatch closed five Wuhan stores, and Imax has even delayed some film releas- es in China. Factories shuttered and fears for global supply chains Several firms have extended holidays beyond the Chinese lunar new year hol- iday, which ends on 2 February. Apple said it had alternatives to its suppliers in Wuhan, but supplier facto- ries would not re-open until 10 Febru- ary. CEO Tim Cook told Reuters it had used a wider-than-normal prediction range in its financial forecasts to reflect the potential hit from the delayed re- start. Bosch, the world's largest car parts supplier, warned its own supply chains relied heavily on China, particularly for electric car parts. Its CEO said supply chains "will be disrupted" if the virus continued to spread. It has two plants in Wuhan. Toyota Motors also halted production at factories in China and restricted its employees' travel, and said it was as- sessing the virus' potential impact on its parts supply chains. Banks, tech and car firms quarantine staff and curb travel Volkswagen ordered staff in China to work from home until 17 February, while Honda and Nissan even flew workers home to Japan on a govern- ment-chartered flight. Facebookż, HSBC, UBS, Standard Chartered and Goldman Sachs also told returning workers who had travelled to China to work remotely. TikTok owner Bytedance said workers who had travelled should quarantine themselves at home for a fortnight. HSBC, Exxon Mobil and Brazilian mining giant Vale SA also banned travel to Hong Kong and China. Airlines take a hit as flights suspended IAG-owned British Airways an- nounced on Wednesday it had halted direct flight bookings to Beijing and Shanghai, following other airlines in tearing up timetables. Finnair, United Airlines, Air Canada, Air Seoul and Taiwan's China Airlnies have also cancelled some flights. Hong Kong's flag carrier Cathay Pa- cific and sister airline Cathay Dragon slashed at least half its flight capacity until the end of March. Staff were re- ported to have been offered months of unpaid leave. Taiwan's China Airlines scrapped hot meals, blankets and newspapers on flights to protect customers and crew, encouraging passengers to bring their own drinks bottles. e US government decided against suspending all flights, but is said to be still considering a ban. e airline industry is bracing for a fi- nancial hit as after the SARS outbreak in the early 2000s, with some forecasts for Chinese growth sliding. Consultancy Boyd Group Internation- al said it had slashed its 8.1% prediction for airport traffic growth in China by more than half. Fuel producers could also feel the pinch, with jet fuel prices dropping and some 2020 forecasts for oil and jet fuel demand also sinking. How the coronavirus outbreak is hitting companies around the world McDonalds, like Starbucks, have closed many of their stores in China

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