Business

The World Wide Fund for Nature warns Malaysian citizens consume 16.8 kg of plastic annually, contributing significantly to ocean pollution. The organization calls for government and corporate collaboration to eliminate single-use plastics and protect marine environments.

Apple announced it won't meet revenue projections for Q2 due to coronavirus-related supply chain disruptions and low customer traffic in China. The tech giant expects significant constraints on iPhone and product availability, with a slower than anticipated return to normal business conditions.

Thailand's National Broadcasting and Telecommunications Commission (NBTC) completed its 5G spectrum auction, generating 100.52 billion baht. Advanced Info Service led the auction, winning 23 licenses across multiple spectrum bands, followed by True Move H with 17 licenses. State-run operators CAT Telecom and TOT also participated, securing six licenses collectively.

Tesla announced a $2 billion common stock offering to bolster its balance sheet, marking a strategic financial move after previously suggesting additional fundraising wasn't necessary. CEO Elon Musk will personally purchase up to $10 million of the new shares, signaling confidence in the company's future.

Nissan Motor Co. has filed a civil lawsuit against ex-chairman Carlos Ghosn in Yokohama District Court, seeking $91 million in damages. The company accuses Ghosn of understating his income, diverting corporate assets, and using company resources for personal gain, with potential for additional claims.

Several contractors involved in the Grenfell Tower refurbishment are set to appear in court on potential fraud and conspiracy charges. The public inquiry, led by Sir Martin Moore-Bick, will examine issues surrounding the marketing of combustible cladding that contributed to the deadly 2017 fire, which killed 72 people and injured 70 others in London.

Indian ridesharing company Ola has expanded into London, bringing its ride-hailing services to the UK market. With 20,000 registered drivers and a focus on safety through advanced app features like a panic button, Ola aims to establish a strong presence in the competitive transportation sector.

The coronavirus pandemic has devastated Hong Kong's economy more severely than the six-month anti-government protests. Financial analysts report significant negative impacts on tourism, trading, and retail sectors, with international brands like Burberry experiencing substantial business disruption due to consumer fears and market shutdowns.

Reinaldo and Jean Wilson, owners of Advantage Choice Care and Tele Medcare, were indicted for allegedly orchestrating a massive healthcare fraud scheme. The couple is accused of accepting bribes from medical firms and recruiting physicians to order unnecessary orthotic braces for Medicare beneficiaries, totaling $56 million in fraudulent claims.

Japanese gaming company Nintendo confirms coronavirus-related disruptions in product manufacturing and delivery. Foxconn factories in China remain closed, causing potential delays for Nintendo Switch consoles and Joy-Con peripherals. Ring Fit Adventure game stock also impacted by the pandemic's supply chain challenges.