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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.
Enterprise donations 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.
Layoffs 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
Market trends 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.
Market trends 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.
Investment activities 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
AMI DIGESTS
April07
Boris Johnson moved to intensive care as condition worsens
Boris Johnson was moved into an intensive care unit on Monday night after his infection with coronavirus worsened, his initial “mild symptoms” having rapidly deteriorated into a serious medical situation.
Japan’s Recession Fears Deepen With Half of Economy in Emergency
Half of Japan’s economy is set to enter a state of emergency as the government strengthens its response to the coronavirus, deepening fears that output will plunge by as much as 20% in the current quarter.
Luckin Scandal Raises Questions Over China’s IPO Reform
The financial fraud scandal at China’s largest domestic coffee chain, Nasdaq-listed Luckin Coffee, has raised questions over whether a registration-based IPO system is appropriate for the country’s market conditions.
Goldman seizes Luckin Coffee shares from chairman after $518m default
Goldman Sachs said it would seize and sell Luckin Coffee shares from the chairman of the scandal-hit chain after he defaulted on the terms of a $518m margin loan.
Airbnb Raises $1 Billion, With Public Offering Uncertain
Airbnb Inc. is raising $1 billion in debt and equity securities from investors Silver Lake and Sixth Street Partners. The funding is an effort by Airbnb to shore up its finances after its business was devastated by the coronavirus pandemic that slammed the global travel industry.
JPMorgan Unit Steps Closer to Taking Over Its Chinese Mutual Fund Venture
JPMorgan Chase & Co.’s asset management arm said Friday it has reached an agreement with its partner to take full ownership of a Chinese mutual fund joint venture.
Uber starts listing other jobs for its drivers
Uber has starting listing regular job openings at other companies in its app, including at 7-Eleven, Amazon and McDonald’s, as it tries to help drivers who have suffered a sharp drop in demand.
Apple Is Designing Face Shields for Medical Workers, Tim Cook Says
Apple Inc. is designing face shields for medical workers and separately has sourced over 20 million masks through its global supply chain, Chief Executive Officer Tim Cook said.
Gilead Sciences to Expand Stockpile of Potential Covid-19 Drug
Gilead Sciences Inc. will expand its stockpile of remdesivir, a drug now being tested on Covid-19 patients, Daniel O’Day, the company’s chairman and CEO said Saturday.
ESG Trends

How China Leverages Technology to Mitigate the Economic Impact of Coronavirus

To mitigate the economic impacts brought about by the latest coronavirus outbreak, China bets on the information technology to help businesses partly resume operations and weather the temporary disruption.

Tracey Xiang
ESG Trends

How China Leverages Technology to Mitigate the Economic Impact of Coronavirus

Tracey Xiang

To mitigate the economic impacts brought about by the latest coronavirus outbreak, China bets on the information technology to help businesses partly resume operations and weather the temporary disruption.

SELECTED ARTICLES
ESG Trends

MioTech Joins UN-supported Principles for Responsible Investment

MioTech Team 2020-03-20
ESG Trends

Measuring Coronavirus Impact in China from the Sky

Jason Tu, Gingery Jin, Maya Li, MioTech ESG Research Team 2020-03-13
ESG Trends

Small Businesses a Big Problem for China

China’s small to medium sized businesses are under tremendous pressure to survive since the outbreak of the coronavirus. As the contagion spreads and these businesses suffer, it could leave lasting impacts on the country’s economy.

Mandy Chong, MioTech Team 2020-03-07
ESG Trends

Covid-19 Impact on China A-Shares’ Supply Chains

Jason Tu, Cara Liu, Maya Li, MioTech ESG Research Team 2020-02-28
Market Beats

China’s lending sector under pressure due to crackdown on data crawling

A recent crackdown on predatory lending and illegal data use practices has shown the extent to which smaller lenders rely on the credit risk management services based on alternative data.

MioTech Team 2020-01-22
ESG Trends

China's Green Bond Market Expands Steadily

China has become a key player in the world’s green bond market. The differences between the domestic standards and the international ones and the lack of reliable information from traditional channels have boosted the demand for alternative data sources.

Tracey Xiang 2019-12-18
ESG Trends

Behind the Heftiest Fine in History: an ESG Risk Study of JAC Motor

In this article, MioTech examines the impacts of ESG on the industry, with a deep dive into the impacts environmental penalties plays on automakers financially.

MioTech Team 2019-11-22
ESG Trends

Alternative Data are increasingly used to Assess ESG Performance and Risks of Chinese Companies

The rapidly growing demand for ESG information of Chinese companies and data analytics services is being met by a rising wave of alternative data services assisted by artificial intelligence technologies.

Tracey Xiang 2019-11-21
ESG Trends

China’s Equity Investment Market Seeing a Rise in Demand for ESG Data

The availability of increasing digital data and technological advances are providing the investor community with much needed access to non-traditional data about Chinese companies. Chinese fund managers have started exploring using alternative data and data services to manage specific risks or create ESG investment strategies.

Tracey Xiang 2019-11-21
See all articles