Decline in Profit
Singapore Airlines slashes flight capacity, grounds nearly all planes in response to coronavirus
SIA on Monday announced it would cut its flight capacity by 94 per cent until the end of April and ground 185 of 196 aircraft, citing the tightening of borders as countries come to grips with the pandemic.
Jack Ma Sending 1.8 Million Masks and Aid to Asia
Jack Ma, Asia's richest man, pledged 1.8 million face masks and 210,000 coronavirus test kits to some of the continent's poorest nations, the latest step in an ongoing effort from his foundation to push back what's become a global pandemic.
Marriott, Hotel Owners Furlough Thousands of Workers, Cut Staff
Marriott International Inc., the world’s largest hotel company, and a growing number of hotel owners are furloughing tens of thousands of workers or slashing staff in an effort to steer their companies through the coronavirus pandemic.
Decline in profits
Cash-strapped Chinese Tesla challenger NIO raises doubts about survival amid Covid-19 outbreak
The electric vehicle maker’s net loss widened to US$411.5 million in the last three months of 2019, a 13.6 per cent increase quarter-on-quarter
Coronavirus threatens $32tn of Asia corporate debt
The coronavirus outbreak is threatening to force companies across the Asia-Pacific region to default after years of low interest rates prompted many to gorge on trillions of dollars of debt.
BlackRock to target companies on governance despite coronavirus
BlackRock has pledged to punish the directors of companies that are failing to meet the $7.4tn investment powerhouse’s expectations on issues from executive pay to managing environmental risk in 2020, even as businesses globally grapple with the fallout of coronavirus.
Flying taxi start-up raises $240m from existing investors led by Tencent
Lilium, a German flying taxi start-up, has raised $240m from existing investors led by Chinese technology group Tencent to fund the next stage of its growth.
Negative events of executives
WeWork’s Board Prepares for a Fight as SoftBank Gets Cold Feet
Independent WeWork board members have spent recent days weighing their options, including legal remedies, after SoftBank indicated it would back out of a deal to spend up to $3 billion to buy shares from the company’s investors and employees.
Complaint and Litigation
Facebook Accused in Amended Lawsuit of Knowing Ad Audiences Were Inflated
Social-media giant says estimates weren’t guarantees, didn’t harm customers; court filing includes employee worrying about possible lawsuit in email