LHAG Advocates And Solicitors LHAG Advocates And Solicitors

Daily News

21 August 2020

COVID-19 UPDATE

Why advance-purchase deals are stoking vaccine nationalism concerns

MAC brand owner Estée Lauder shedding up to 2,000 jobs

Cisco expects to gain US$800 million with changes in place

Ryanair’s Spanish pilots accept 20% pay cut over four years to save jobs

Bus manufacturer Alexander Dennis launches consultation on proposed job cuts

UK law firm BLM shutting two offices, axing 90 roles

160 employees at Singapore’s Millennium Hotels and Resorts laid off

Malaysian manufacturers expect to retrench up to a third of staff by year-end

MALAYSIA

Airlines

Cash-strapped AirAsia needs RM2 billion to see it through 2021

Local celebrity steps down from director role at AirAsia

Banks

Maybank, RHB possibly Genting Hong Kong’s two largest lenders

Goldman Sachs settlement provides timely boost to government’s coffers

Capital markets

Top Glove second most valuable stock after Maybank

Earnings

Petronas Chemicals profitable in H1 despite global challenges

Pharmaniaga’s higher Q2 profit driven by increased demand in non-concession business

Economy

Malaysia can leverage advantages to revive its economy

Good chance of Bank Negara Malaysia cutting interest rates further

Employment

Diplomatic spouses from Malaysia, UK can seek work

Insurance

CIMB Bank, Berjaya Sompo introduce first online all-risks protection plan

Land administration

e-Tanah will go nationwide

Legal profession

Recognition of law degrees must be in accordance with required standards

Oil and gas

Petronas has had preliminary talks about buying DoublePoint Energy

Property

First COVID-Secure office space unveiled

KSK Land offers F&B sector opportunity to be part of innovative accelerator programme

Retail

Three consumer trends emerged in RMCO period

Technology

Keto diet meal delivery service Chunky Monkeys has seen steady growth in orders

Grab says no passenger data compromised

Tourism

Malaysian-controlled Genting Hong Kong suspends all payments to creditors

ASIA

Insurance

Prudential Indonesia to tap deeper into Shariah-based insurance

Tax

Nissan ordered to pay some ¥250 million in penalties

Technology

Alibaba benefits from coronavirus-led shift to online shopping and WFH

Crystalising a valuation for Ant might help to close gap

AUSTRALIA

Airlines

Qantas posts one of largest ever losses

Oil and gas

Shell’s floating LNG factory Prelude risks becoming world’s biggest white elephant

Real estate

‘Glyn’ offers rare opportunity to secure both magnificent family residence and architectural history

EUROPE

Capital markets

Delivery Hero replaces insolvent Wirecard on Germany’s blue-chip DAX index

Data protection

Regulators wrangling over penalty Ireland was set to issue Twitter

Food and beverage

Departing WTO boss headed for PepsiCo

Hospitality

Accor examines potential merger with InterContinental Hotels

Union would have benefits for both, but governance could be tricky

SINGAPORE

Airlines

Singapore Airlines has burned through half of S$8.8 billion raised during rights issue

Capital markets

Singapore Exchange, FTSE Russell to jointly develop multi-asset index derivatives products

Technology

Citadelle director, first to be indicted over Wirecard collapse, faces six charges

Wealth

Pandemic has not blunted wealth of Singapore’s richest

UK

Accountancy

PwC won’t publish annual results until January so that it can put off decision on pay and bonuses

Banks

US-based Silicon Valley Bank converting London-based branch into full subsidiary

Competition

Watchdog assessing proposed Marston’s-Carlsberg JV

Data protection

UK resident files representative legal action against hotel group Marriott

Retail

Industry veterans to front rival £7 billion PE bids for Asda

US

Employment

Court approves PwC's US$12 million settlement with accountants in age discrimination suit

Energy

Chevron, General Electric, Baker Hughes and Honeywell ink new agreements with Iraq

Food and beverage

Iconic Cheers bar, replica of pub that inspired hit TV show, closing after 20 years

Technology

Home-sharing company Airbnb’s stock market float back on the table

Company imposes global ban on parties, occupancy limit at 16

Apple first US company to be valued at US$2 trillion

BlackBerry, former king of smartphones, refuses to go away

Microsoft Teams and 365 apps won’t work on IE from November 2020 and August 2021

Reprieve for ride-hailing giants Uber, Lyft in California

Uber’s other major legal challenges around the world

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