16 July 2020
COVID-19 UPDATE
25,000 American Airlines employees could lose jobs in October
US department store chain JC Penney cutting jobs and shuttering stores
Vox Media, owner of New York magazine and The Verge, preparing for company-wide layoffs
Luxury brand Burberry, best known for iconic trench coat, slashing 500 roles
BBC, The Guardian to eliminate 250 jobs
International law firm Bryan Cave Leighton Paisner laying off 40 staff, closing Beijing outpost
University of New South Wales will axe nearly 500 full-time jobs to deal with funding shortfall
Genting-owned Resorts World Sentosa dismissing ‘significant’ number of staff
Airlines
AirAsia could soon restart flying to neighbouring Singapore
Firefly CEO on domestic demand for air travel, and whether it can survive global pandemic
Autos
Updated Perodua Myvi now comes in electric blue
Banks
InvestKL can leverage on China Construction Bank’s network via CCB Match Plus platform
CIMB’s offerings more accessible with new digital-first solutions
Capital markets
Bargain prices on blue chips, increased personal savings played a role in retail boom
Optimax looking to raise RM21 million from listing on ACE Market
Construction
Econpile clinches RM21 million contract from Allevia
Ireka has demerged from Aseana Properties
Earnings
Zhulian declares second interim dividend despite lower quarterly earnings
Education
Significant portion of students could not participate in online classes for over three months
Legislation
Protection of businesses, securing employment should be top most in formulating COVID-19 Bill
Manufacturing
MQTech, JD Resources to acquire glove manufacturer
Oil and gas
Sabah says Petronas should pay what is owed to the state
Pharmaceuticals
Duopharma Biotech and Pharmaniaga to fill and finish COVID-19 vaccine once available
Property
Gagasan Nadi Cergas unit to develop affordable housing in Serendah
Retail
AEON BiG can continue to operate store in Subang Jaya
Shipping
MISC acquires six Very Large Ethane Carriers for RM3 billion
Telecommunications
Axiata’s SmartLuy merges with Cambodia’s Pi Pay
Utilities
Salcon Engineering and Hong Kong’s The One Smart City Development ink JV
ASIA
Autos
Nissan Ariya is Japanese automaker’s answer to Tesla Model Y
Media
New York Times shifting Hong Kong-based digital news operation to South Korea
Technology
Search giant Google latest high-profile firm to back India’s Reliance Jio Platforms
Hong Kong’s Tricor hoping ‘SPOT’ takes off in same way as Zoom videoconferencing software
AUSTRALIA
Media
News Corp’s Australian unit proving to be biggest single drag on earnings
Real estate
Owners of Great Barrier Reef property Pumpkin Island hope to sell it for A$25 million
New Bellevue Hill development, ‘Splendour’, will overlook Sydney’s Cooper Park
EUROPE
Autos
Fiat Chrysler and PSA’s 50-50 merger will be known as 'Stellantis'
Tax
Apple does not have to pay €13 billion in back taxes to Ireland
EU needs to put forward more evidence in future
Apple’s win flags problems antitrust chief faces in bigger fight over corporate tax reform
GLOBAL
Financial regulation
Policymakers cannot be complacent
Insurance
Marsh & McLennan is world’s biggest global broker
SINGAPORE
Airlines
Slow recovery for Singapore Airlines
Banks
Deutsche Bank’s new CEO for Asia-Pacific relocating to Singapore next month
Dispute resolution
Use of mediation as ‘real alternative’ could pick up when Singapore Convention comes into force
Real estate
S-REITs ESR and Sabana propose to merge
UK
Health
High hopes for coronavirus vaccine being developed at Oxford
Shipping
Cruise & Maritime Voyages in 11th-hour talks about possible rescue deal
US
Commodities
Global grain trader Archer Daniels Midland accused of manipulating price of ethanol
Real estate
Los Angeles home used as frat house in Neighbors movie and sequel listed for US$1.5 million
Technology
PC maker Dell may spin off 81% stake in VMware
High-profile Twitter accounts compromised and used to solicit digital currency