[warrioraks]

Originally Posted by volkman10

Bounce, Vogo, Drivezy hardest hit by Covid-19 turn to layoffs, salary cuts.




Link

These companies tend to spend millions for acquiring new customers but don't have enough to sustain their employees through a month of lockdown. Just goes to show the cut-throat nature of business nowadays.

[Samurai]

Originally Posted by prasathlr

The US unemployment claims skyrocket to 32Lakh as of today, for comparison 7Lakh filed for unemployment during the 2008 financial crisis.

Over 6.6 million people filed claims for unemployment benefits in the week ending March 28, according to the US government. That's exactly double from last week.

https://www.wsj.com/articles/another...ek-11585819800

[ashokrajagopal]

Originally Posted by Samurai

Over 6.6 million people filed claims for unemployment benefits in the week ending March 28, according to the US government. That's exactly double from last week.

https://www.wsj.com/articles/another...ek-11585819800

Just saw a graph on that news.

[SmartCat]

According to this model (taken from White House briefing), Covid-19 deaths in USA will peak in 2 weeks. By June-July, the number of Covid-19 deaths per day in America will probably be like that of China (double digit new cases per day, single digit deaths per day)
https://www.msn.com/en-us/news/polit...rd/ar-BB124S56



The world economy does not care about lives in third world countries. If this model proves to be accurate, economic activity should pick up pace in another 3 months. Nobody expects a V-shaped recovery though.

[aim120]

Originally Posted by SmartCat

According to this model (taken from White House briefing), Covid-19 deaths in USA will peak in 2 weeks. By June-July, the number of Covid-19 deaths in America will probably be like that of China

They already surpassed china in both death and infections. Chinese numbers should be taken with a truck load of salt.


Thousands of planes still carry domestic passengers in the USA every day, they are spreading it every where. I think USA will have millions dead.

[Samurai]

Originally Posted by SmartCat

According to this model (taken from White House briefing), Covid-19 deaths in USA will peak in 2 weeks.

If you had listened to the briefing, Dr.Brix attached a caveat to this model. This model assumes that every American will follow the social distancing guidelines, wash hands, stay-at-home, etc, etc. That will keep the deaths between 1-2L.

Considering how many US states have not taken the whole thing seriously, the model will have to be revised to show a higher number.

[karan0009]

Big-4 firms defer promotions, appraisals, bonuses and salaries amid virus crisis.

Leading consultancy and audit firms have taken definitive steps relating to human capital even as India Inc. tries to gauge the impact of the Covid-19-related slowdown and works to save jobs.

PwC India, Deloitte India, Ernst and Young or EY India have all decided to defer their employee appraisal cycles, which includes deferring promotions and bonuses, because of the virus outbreak, said officials working with these firms.

I work with one of the Big 4's & as per the estimates, this year is going to be very rough in terms of revenue.

https://www.livemint.com/companies/n...505169035.html

[rohitoasis]

If i am allowed to share this write up by Prof. Samir Barua published in Linkedin.
He explains very lucidly. His views might be different from the speakers in the market, but do make some amount of sense too.

https://www.linkedin.com/pulse/rbi-m...q0rGf3yA%3D%3D

[PPS]

Originally Posted by aim120

Thousands of planes still carry domestic passengers in the USA every day, they are spreading it every where. I think USA will have millions dead.

My Uncle took the Delhi-Chicago direct flight on 19th March. On arrival at O'Hare International Airport there was no screening done, nor anything told about quarantine which was very surprising. But he put himself in quarantine by living in the basement of his house for 2 weeks & only yesterday he has ventured out upstairs!

[AirbusCapt]

With the high unemployment numbers in US, there us a growing cry to throw out H1B and H2B workers. Most likely to witness a steady stream of IT professionals making a beeline back home.

[turbo]

Heads have already started to roll.

[Nalin Kumar]

The US skyline still appears to be very active compared to the rest of the world! See today's density of aircrafts (domestic, international and cargo) as per Flightaware data. God help them control Coronavirus!!




Source: Flightaware

[sukhoi]

Interest Rates on Small Saving Schemes like PPF, Kisan Vikas Patra, NSC, Senior Citizens Savings Scheme, Monthly Income Scheme etc. have been cut down.

[GTO]

On the flip side, what industries will do well in this storm? I can think of the following:

- Netflix, Hotstar etc. will surely see a surge in streaming, and possibly subscribers.

- Online gaming.

- Online education businesses.

- Home delivery of food (especially once the lockdown is lifted). As I'd shared earlier, Dominos USA is hiring 10,000 employees!

- Instagram, Facebook & other social networks (users & traffic, not ad revenue).

- Health, pharma and companies making masks, gloves, sanitizers, ventilators.

- Home delivery of groceries (quite a missed opportunity by BigBasket not to have scaled up).

[SmartCat]

Originally Posted by GTO

On the flip side, what industries will do well in this storm? I can think of the following: - Netflix, Hotstar etc. will surely see a surge in streaming, and possibly subscribers. - Online gaming. - Online education businesses. - Home delivery of food (especially once the lockdown is lifted). Home delivery of groceries (quite a missed opportunity by BigBasket not to have scaled up).

Will "do well" is a relative term though. In India, most of the online businesses and delivery businesses are loss-making. Many are still in "acquiring customers" phase. Means more customers equals more losses!

Personally, I have added Netflix subscription (Rs. 499 per month) and upgraded by ACT broadband internet connection (Rs. 1100 to Rs. 1900 per month). Looks like the kids are watching way too much streaming videos on TV and iPad!