International trade is on pause and the situation looks to be getting more complicated on a daily basis.
For many international businesses, and businesses looking to make their mark in new territories, it’s not going to be as simple as ‘life getting back to normal’ when the Covid ban on travel is lifted.
Goods held at depots worldwide that have perished have cost industries millions of pounds, and the same for non-perishables that are simply waiting to get to their purchaser but are held in a backlog not knowing if the company they are intended for will have survived the crisis.
These situations have meant that banks, lenders and insurance companies are all assessing risk in a brand new way. Money withheld from these core lenders is re-balanced only by companies refusing to pay their bills in a bid to protect their cashflow, adversely affecting others down the line. Contracts
The government has unveiled five new taskforces devoted to vulnerable sectors of the economy, intended to liaise with unions and others to see how soon each sector can safely resume work with coronavirus distancing measures.
The five areas covered are all ones that have to wait before even limited reopening efforts can begin, in most cases until at least July. They are pubs and restaurants; non-essential shops; recreation and leisure; places of worship; and international air travel.
The government view is that such businesses and areas should reopen as soon as possible “when the scientific advice provided allows us to”, but that their settings provide particular difficulties with distancing and hygiene.
Pubs, restaurants and cafes, along with hairdressers, museums, cinemas, libraries and places of worship, are all earmarked to open again in the third phase of the government’s lifting of the lockdown, with 4 July put as the earliest possible
Forbes restructured its pay scale for contributors amid the coronavirus pandemic, ending the $500 guarantee for any writer who had seven posts published per month and reducing the repeat-reader bonus from five cents to one cent, reports Lindsey Ellefson of The Wrap.
Ellefson reports, “In an email dated April 21 and reviewed by TheWrap, Rob LaFranco, the editor who oversees the consumer and business section at Forbes, explained, ‘In these unprecedented times, Forbes continues to report the news and cut through the uncertainty like no other news site. As most of you have noticed in terms of your own posts, we are hitting record levels of audience and engagement. At the same time, like every other media outlet, we are seeing reductions in the rates paid for our digital ads. As we affirm our commitment to our best-in-the-world contributor network, this is a necessary time to make sure that