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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
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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.

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

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.

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