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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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US overtakes China for most confirmed coronavirus cases
The US has overtaken China to become the country with the largest number of confirmed coronavirus cases in the world, with 81,943 Americans now testing positive for Covid-19.
Citi, Morgan Stanley Join European Banks in Pausing Job Cuts
Thousands of bankers are set for a reprieve as Morgan Stanley and Citigroup Inc. joined European lenders in pledging to preserve jobs amid the widespread impact of the coronavirus.
Chinese Flying Car-Maker Logs Revenue Boost as ‘Air Taxi’ Sales Take Off
EHang, the Chinese maker of self-driving “air taxis,” reported strong revenue growth and a narrowing net loss in the fourth quarter of 2019 as sales of its aerial vehicles ballooned.
Wall Street rallies for third day as stimulus cheers investors
Wall Street recorded its first three-day rally since February on Thursday as investors digested an unprecedented surge in US unemployment claims and looked ahead to a $2tn stimulus package that had cleared the US Senate overnight.
WeWork Says Virus Will Hamper Ability to Hit 2020 Targets
WeWork says it doesn’t expect to hit its 2020 financial targets as it grapples with the coronavirus outbreak.
Alibaba Now Controls Nearly Half of China’s Cloud Service Market, Research Says
Alibaba Group Holding Ltd. grabbed the largest share of China’s cloud infrastructure service market in the fourth quarter of 2019, surpassing rivals Tencent and Baidu by a substantial margin.
US jobless claims surge to record 3.3m as America locks down
More than 3m Americans filed a claim for unemployment benefits last week, a record high that offers the first nationwide picture of the damage to the US economy from the coronavirus shutdown.
Hong Kong Encourages Listing Ceremonies Held Online After Positive Virus Result
A guest who attended a gong-striking listing ceremony at the Hong Kong Stock Exchange on Friday has tested positive for the coronavirus, the exchange’s operator said.
Senate Approves Roughly $2 Trillion in Coronavirus Relief
The Senate approved the largest economic stimulus package in recent memory, moving the estimated $2 trillion bill to the House as Congress seeks to give American families and businesses a financial shield against the ravages of the new coronavirus pandemic.

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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