Travel disruptions, cost cutting key issues for US business in China: report

Global travel disruptions are the top concern for American businesses in China, of which many are cutting compensation and bonuses amid the fallout of the COVID-19 epidemic, according to a report from a business group.

Ninety percent of the 100 or so respondents said they were affected by such disruptions, up from 77per cent last month, according to a monthly survey on the impact of COVID-19 by the American Chamber of Commerce in China, released Friday.Thousands of senior executives are stranded outside China, chamber chairman Greg Gilligan said in a news release.

Sixty percent of companies said they were cutting costs. About half of respondents said they had or were considering cutting compensation for employees, with nearly 30per cent saying they were cancelling or deferring salary increases this year.

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US stocks end down as China tensions end 3-day Dow streakNEW YORK (AFP) - Wall Street stocks ended lower on Thursday (May 28) following a late-afternoon retreat on growing US-China tensions, as markets digested more bad economic data following coronavirus shutdowns.. Read more at straitstimes.com.
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