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Bernard Arnault becomes world’s richest person as LVMH stock rises
David Dawkins, Forbes, 24 May 2021French fashion tycoon Bernard Arnault has become the world’s richest person, with an estimated net worth of US$186.3 billion – US$300 million ahead of Jeff Bezos (US$186 billion), and Elon Musk, (US$147.3 billion). This comes after the LVMH CEO successfully positioned Europe’s luxury and fashion houses during the...
socio political environment
UK animal rights activists give McDonald’s indigestion
Nicola Slawson, The Guardian, 22 May 2021Animal rights protesters have set up blockades at four McDonald’s distribution centres across Britain, which they say will affect about 1,300 restaurants. The activist group, Animal Rebellion, planned a 24-hour protest to get the fast-food company to turn fully plant-based by 2025. The protest is also aimed at calling out the animal...
socio political environment
What the rise of Amazon has to do with the rise of Trump
The NPR Politics Podcast, NPR, 22 May 2021This episode of The NPR Politics Podcast investigates America's "winning" and "losing" cities, what Amazon has to do with former President Donald Trump's election, and how much it matters when consumers decide to boycott huge companies like Amazon because of…
socio political environment
Singapore orders Facebook, Twitter to correct false claims about ‘new’ Covid variant
Saheli Roy Choudhury, CNBC, 20 May 2021Singapore's Government has ordered Facebook, Twitter, and local publisher SPH Magazines to correct what it says are published false statements implying a new coronavirus variant originated in the city-state, and risks spreading to India. Under a law aimed at preventing the spread of 'falsehoods' online, Singapore’s Health Minister Ong Ye Kung...
socio political environment
Governance failings impede Asian companies’ ESG efforts in Asia
Alun John, Reuters, 20 May 2021The Asian Corporate Governance Association has recommended Asian regulators tell companies how to reform their boards to better address environmental, social and governance (ESG) challenges. The recommendations include adjusting corporate governance codes of best practice, to include how company boards should be composed,...
socio political environment
High Court casts doubt on claims by media companies that they’re not responsible for defamatory comments on social media posts
Paul Karp, The Guardian, 18 May 2021The High Court of Australia has cast doubt on media companies’ claims that they are not responsible for defamatory comments on their social media posts. Fairfax Media and News Corp have taken the matter to the High Court, after a NSW Court of Appeal found they were liable for defamatory material in Facebook comments on their posts about the...
socio political environment
Banks’ climate push is more than just hot air
Clancy Yeates, The Sydney Morning Herald, 15 May 2021In the last month, Prime Minister Scott Morrison and Macquarie Group chief executive Shemara Wikramanayake have both given speeches touching on how to address climate change. Morrison and Wikramanayake shared some common ground, as both talked up the role of entrepreneurs in addressing climate change. But their differing choice of words shows...
corporate responsibility
socio political environment
How China used the media to spread its Covid narrative - and win friends around the world
Juilia Bergin, NiemanLab, 14 May 2021A new report from the International Federation of Journalists finds Beijing’s global image has benefited from the pandemic, despite its origin in the Chinese city of Wuhan. More than half of 50 nations surveyed at the end of 2020 reported coverage of China had become more positive in their national media since the onset of the...
socio political environment
Why the Tesla crypto scandal may have proven that ESG is just social credit for corporates
Charles Radclyffe, Forbes, 13 May 2021Elon Musk has backtracked on his commitment to allow customers to purchase Teslas with Bitcoin, citing the woeful environmental record of the cryptocurrency. Musk’s decision to backtrack on the acceptance of crypto as payment seems motivated by the fact that ESG data starts to cast judgment on the activities and behaviours of corporations (as...
socio political environment
How to lead in the stakeholder era
Hubert Joly, Harvard Business ReviewIn the face of socio-political challenges, there is a realisation that business and society cannot thrive if employees, customers, and communities are unhealthy. More leaders believe creating a better and sustainable future requires corporations to serve all their stakeholders.
adaptive leadership
socio political environment