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Hi there,
Happy Monday! Here's what we're watching in business and tech news this week:
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Look for Big Tech to continue to be ahead of the curve in taking precautions to combat the pandemic. Google and Facebook have fundraised for the United Nations’ COVID-19 Solidarity Response Fund, while Alphabet’s Verily subsidiary partnered with California’s government to launch a pilot screening website today. Other examples of early leadership include closing stores and instituting work-from-home policies as well as sick leave ahead of government directives.
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Chinese social media giant Tencent is expected to report its fastest pace of revenue growth since 2018 on Wednesday. The internet conglomerate added millions of new players to its widely popular mobile games amid the virus lockdown, but gains made during the pandemic may drop as people return to work.
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Expect to see the coronavirus’ preliminary impact on travel, logistics, and retail this week, as companies like Lufthansa, Next, FedEx, General Mills, and Tiffany & Co report earnings. Europe’s largest airline Lufthansa is cutting up to 90% of its longhaul flights. FedEx’s results on Tuesday will portend how the global economy is faring under the pandemic; its stock has already plummeted by more than 40% year-to-date. Keep an eye out for food delivery cos, which have garnered  media attention for being some of the few potential beneficiaries of the pandemic as demand surges — if restaurants stay open.
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