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Coronavirus Business & Economy Impact News


Coronavirus Business & Economy Impact News | Business Insider

As the coronavirus (also known as COVID-19) pandemic continues to spread globally, Business Insider Intelligence and eMarketer are continuing to work to analyze the business impact of the virus across each of our coverage areas.

Through our coverage below, get a better understanding of the business and economic implications coronavirus has on trends like remote working, consumer shopping behavior, global advertising spend, and essential industries like food, medical, travel, and transportation.

COVID-19 Topics

Business FAQs

Featured Articles

Banking & Fintech

Retail & Commerce

Healthcare Industry

Digital Media & Advertising

Connectivity & Technology

COVID-19 Business & Economy FAQs

A simple look at the stock market will tell you that coronavirus has led to a volatile economy, but there are numerous other factors at play. The initial outbreak of the coronavirus in China disrupted global supply chains. A record 3.28 million Americans filed for unemployment benefits in the week ending March 21 as coronavirus-induced layoffs surge around the US. Even when the short-term effects end, the long-term economic impact will ripple for years.

More than 99% of all businesses are small businesses1, and they employ about half the US workforce. Most small businesses lack the cash reserves to weather a month-long interruption, and forecasts indicate more than 2 million workers could lose their jobs in just one week as a result of the coronavirus pandemic. There’s also the possibility of a “startup depression,” wherein new companies don’t enter the job market because of the pandemic.

Hospitality and travel are two of the biggest industries impacted by COVID-19 thanks to travel cancellations, restaurant and bar closures, and low consumer confidence. Manufacturing and construction have largely held off on layoff decisions, but these industries could suffer the strain as consumer demand drops.

The CDC has outlined ways for businesses to adjust to the pandemic, such as assessing your essential functions and the reliance that others and the community have on your services or products.

Featured COVID-19 Articles

Zoom’s surging subscriber growth highlights its potential staying power as Google and Microsoft look to steal market share

US digital travel sales will fall 45% this year, down more than $93 billion

US consumer spending’s rise may be short-lived

Verizon and AT&T new pricing options could help attract prepaid subscribers amid economic downturn

Bank of America, Citi, Chase, and Wells Fargo have shifted employees to deal with defaulted loans

New research suggests students are learning considerably less from virtual environments

Major US ad agencies are facing an estimated 50,000 job losses in the wake of the coronavirus

Breaking down some of the biggest pandemic-driven shifts in consumer behavior

Here’s what Business Insider Intelligence analysts think will be the biggest business impacts of the coronavirus pandemic

US Live Coronavirus News & Updates

Global Live Coronavirus News & Updates

US retail sales to a record-setting nosedive in March due to the coronavirus pandemic

Coronavirus – Reports, Statistics & Marketing Trends

Latest Coronavirus data and analysis from eMarketer including reports, charts, and articles.
Learn More  →

COVID-19 Topics

Business FAQs

Featured Articles

Banking & Fintech

Retail & Commerce

Healthcare Industry

Digital Media & Advertising

Connectivity & Technology

How Will the Coronavirus Change Consumer Behavior?

Working and Studying from Home Shines a Light on Digital Usage

If you want to know how badly the coronavirus is about to devastate the US economy, look at China

Insider Inc. CEO on what the stock market says about the economy and why we should rethink the way Americans get health insurance

The coronavirus outbreak is disrupting supply chains around the world – here’s how companies can adjust and prepare

The WTO warns that the coronavirus pandemic could create another Great Depression

As China factories reopen, production may be hampered by ongoing measures to combat the pandemic

A new study reveals the 5 jobs most at risk to immediate impacts from the coronavirus

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Coronavirus Impact on Fintech & Banking Industry

Outlook for banks’ digitization plans is darkening amid economic uncertainty

The usage-based insurance market will continue growing in importance amid the pandemic

The PPP closed to new applications with over $130 billion in unclaimed funds

Kabbage stopped new PPP applications just ahead of the program’s deadline

OCC head says US banks can’t use the pandemic as reasoning to ramp up branch closures

Citibank complaints highlight how customer service missteps can be magnified in times of crisis

Dissatisfaction with their banks’ PPP processes is causing SMBs to consider switching their banks

PPP loan recipients are facing forgiveness application delays as US banks seek guidance from the SBA

Barclays is debuting a toolkit to help UK SMBs recover from the fallout of the pandemic

Pandemic could fuel 1 in 4 European bank branches to close in next three years

Over 40% of PPP funds are still available two weeks into its second round

US personal savings rate increases due to lowered spending amid social distancing

HSBC and Lloyds have seen significantly higher mobile check deposits since the UK locked down

Three ways the coronavirus could affect banking globally

Banks are split on whether to use consumers’ stimulus funds to cover negative account balances or give temporary overdraft relief

The Fed has temporarily lifted Wells Fargo’s asset cap

Bank of America is accused of giving preferential treatment to some SMB customers

Several major US banks are being sued for unfair PPP lending practices

European governments hope emergency funding will help avert mass collapse of startups

Chime is piloting instant stimulus check disbursals

Citi is working on an online portal to facilitate small business loans

US banks will reap billions in fees from the government for coronavirus SMB loans

How the $2 trillion US stimulus package could impact SMBs and alt lenders

How the Senate’s $2 trillion coronavirus stimulus package could affect banks

Several major US banks are closing branches or restricting access as the coronavirus pandemic worsens

Three ways the coronavirus could affect banking globally

How the coronavirus could positively and negatively affect fintechs

Coronavirus Impact on Retail & Commerce

Noncash and card-not-present payments have soared in popularity in the UK

US retail’s recovery is losing speed as coronavirus cases rise and complicate reopening plans

COVID-19’s impact on the worldwide retail market will be worse than the 2009 financial crisis

US retail and food sales surged 18% in May compared with April

Instacart and DoorDash raise funds as the pandemic highlights their value

Starbucks is closing up to 400 North American stores and replacing them with takeaway-focused locations

Retail sales will drop 5.7% this year because of the pandemic

American Express is beginning to see signs of early recovery from the first wave of the pandemic

Target’s digital sales grew 282% annually in April

PayPal rolled out QR code payments as contactless options become more popular amid the pandemic

Apple and McDonald’s are making operational changes that may limit their profits as they reopen

Retail sales growth fell to new depths in April as the pandemic continues

To boost retail sales, merchants may need to develop plans to operate in a cycle of closing and reopening

Cardholders’ credit limits are shrinking during the pandemic

Amazon posts highest e-commerce growth in over three years

Mastercard developed a framework for how spending might recover from the effects of the pandemic

Mastercard is seeing its volume slide but interest in contactless rise amid the pandemic

Amazon is pulling back on promotions to handle surging demand

Amazon is starting to accept more nonessential products from third-party sellers

Samsung’s supply chain woes highlight the unpredictability of disruptions from the coronavirus

Amex is tweaking rewards to accommodate changes in shopping habits amid the pandemic

Retailers’ and restaurants’ sales continue plummeting amid the coronavirus pandemic

Card networks are encouraging contactless payments worldwide

Amazon plans to delay Prime Day until at least August

How retailers and payments providers are helping consumers shop safely

Walmart is encouraging social distancing with tactics like one-way aisles

Local governments may start restricting the in-store sale of nonessential items

Grocers are trying new strategies to handle increased demand for online orders

As China factories reopen, production may be hampered by ongoing measures to combat the pandemic

Cash App, Venmo, and Zelle are offering to help the US government send stimulus payments to consumers

Governments are raising contactless transaction value limits during the coronavirus pandemic

Amazon is pushing back delivery dates for nonessential orders

US retail faces an uncertain future as nonessential stores close due to the coronavirus pandemic

Social distancing and restaurant restrictions amid the coronavirus could popularize grocery and food delivery

Amex is already seeing a softness in spending volume because of the coronavirus pandemic

Coronavirus Impact on Healthcare Industry

New data shows digital health was in trouble pre-pandemic

Health executives think telehealth’s staying power will transform the industry next year

CVS Health launched a coronavirus return-to-work program for employers

The FCC distributed $100 million to health systems in order to improve telehealth infrastructure

New survey data reveals that nearly half of patients are forgoing care amid the pandemic

Verily unveiled a research study to establish the accuracy of coronavirus antibody tests

Microsoft and UnitedHealth Group are rolling out a coronavirus screening app to US employers

CVS Health is expanding its mental health services to frontline coronavirus workers

Pfizer and BioNTech’s coronavirus vaccine entered human clinical trials and may be tested in the US next week

UnitedHealth is acquiring virtual mental healthcare upstart AbleTo as demand for telehealth rises

BenevolentAI uncovered a potential coronavirus treatment currently entering clinical trials

FDA grants emergency use authorization to Rutgers-developed coronavirus saliva test

The NHS is turning to big tech to bridge the connectivity gap for older adults

The HHS relaxes HIPAA enforcement for data sharing amid the coronavirus pandemic

Anthem is waiving out-of-pocket costs for its members’ coronavirus-related treatments

The increased use of telehealth presents a significant opportunity for network operators

The CMS is now covering 80 new telehealth services for Medicare members

Employers are facing sizable increases in healthcare spending as the coronavirus spreads across the US

What the Senate’s $2 trillion stimulus bill means for digital health

RadLogics revealed that its algorithm that combs through CT scans can accurately detect patients with the coronavirus

Amazon Care is picking up and delivering at-home coronavirus tests

Amazon and Microsoft are launching initiatives to accelerate research and treatments for the coronavirus

US lab testing startup Everlywell developed an in-home test for the novel coronavirus

3 biotechs are rapidly making coronavirus vaccine progress

How increased social distancing for the coronavirus could spur a loneliness epidemic

People turning to remote telehealth conferencing to reduce coronavirus risk

Coronavirus Impact on Digital Media & Advertising

CVS launches new ad platform for CPG brands as retail media continues to be a bright spot amid the pandemic

US ecommerce sales boomed despite retail struggles in Q2 2020

The Trade Desk’s Q2 earnings show that CTV is still a silver lining in programmatic advertising during the pandemic

Despite an expected uptick in ad spending, media buyers don’t anticipate spend to return to normal in 2020

Q&A with Buzzfeed’s SVP of ad strategy on advertising alongside editorial content during a pandemic

Mobile messaging time spent will spike as users shift away from traditional text messaging

The pandemic will fuel an acceleration in time spent with subscription OTT services

Breaking down some of the biggest pandemic-driven shifts in consumer behavior

Pepsi and GM are looking to pull out of upfront advertising contracts in Q3

Facebook launched new Zoom-like video messaging and livestreaming features across its platforms

eMarketer expects US search ad spending to decline due to the coronavirus

What a postponed NFL season would mean for TV advertising

How the coronavirus could impact US political ad spend

Google and Facebook will offer small businesses ad credits and grants

How the US government’s $2 trillion stimulus package could impact advertising and media

What a rescheduled Olympics means for marketers

Esports market earnings, once set to eclipse $1 billion in 2020, will drop thanks to coronavirus

How COVID-19 Has-And Has Not-Affected Global Ad Spending

The Weekly Listen: COVID-19’s Effect, Voice Ads and How Online Outrage Impacts Brands

Coronavirus Impact on Connectivity & Technology

Apple is reportedly pushing for an on-time 5G iPhone launch despite production delays to usher adoption outside of China

Facebook’s new Workplace features double down on its social focus and in-house hardware integrations

Shopify is adding new tools as merchants lean on e-commerce during the pandemic

[REPORT] CORONAVIRUS AND 5G DEPLOYMENT ROADBLOCKS

Twitter and other companies allowing employees to work from home indefinitely will need to adopt additional technology

Ericsson’s 5G projection increase is likely an outlier compared to other network operators

Internet-of-things use cases have proliferated amid the pandemic and adoption will likely persist long-term

We spoke with AT&T’s SVP of Advanced Solutions on how the coronavirus is impacting healthcare IoT – and what the new normal will look like

Verizon’s new virtual technician shows how remote tools will become a must-have technology for enterprises

Google and Apple are collaborating on a wide-scale coronavirus tracking tool

Microsoft exempts Azure from hiring freeze as a surge in cloud usage presents a unique growth opportunity

How soaring unemployment will impact wireless carriers

The coronavirus is shining a light on the importance of seamless communication within healthcare firms

How the government stimulus checks could reduce wireless bill delinquency

The coronavirus pandemic could impact 5G deployment timelines for network operators

Xiaomi overtaking Huawei shows how the coronavirus could change logistics for smartphone vendors

Overburdened networks amid the coronavirus pandemic highlight the need to invest in infrastructure build-out

The shutdown of US wireless carriers’ stores amid the coronavirus pandemic will disrupt consumer smartphone upgrade cycles

Five ways the coronavirus will affect the connectivity and tech industry in 2020

Why coronavirus fallout will accelerate cord-cutting in US

The surge in connectivity due to the coronavirus will likely spur operational changes

The coronavirus could upend broadband monetization models

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