Shuttered shops, idle production lines, grounded planes - the coronavirus pandemic has devastated several industries, not least the aviation and automobile sectors, but also retail and energy.Here is a recap of some major casualties, amid layoffs, bankruptcies and rescue plans: Crash LandingAmong the big-hitters in crisis in the air transport sector are two Latin American carriers, including the region's biggest airline LATAM, and Colombia's Avianca, both of which have file

Global demand for personal luxury goods has been steadily increasing for decades, resulting in an industry worth US$308 billion in 2019.However, the insatiable desire for consumers to own nice things was suddenly interrupted by the coming of the COVID-19 pandemic, and experts are predicting a brutal contraction of up to one-third of the current luxury goods market size this year.Will the industry bounce back?

One of the main concerns of enforcing nationwide lockdowns is the economic repercussions of the strict measures and the fear that it would have a lasting impact on social wellbeing and economic performance in the country. With China as the epicentre of the COVID-19 outbreak, governments in ASEAN have now put stringent measures in place to contain it; threatening to stall economic growth in major markets.

In Southeast Asia, the rise of e-commerce has changed how people shop. Throughout 2016, Singapore, Malaysia, the Philippines, Indonesia and Thailand generated US$14.8 billion in online sales. A 2019 report from Facebook and Bain & Company found that ASEAN’s digital consumers’ spending will triple by 2025. However, traditional retail has not gone into extinction; instead, it has flourished. So much so, there is now a glut of shopping malls across Southeast Asia.

Jack Ma stepped aside as leader of the Alibaba Group on Tuesday, ending a spectacularly successful 20-year run during which the charismatic former English teacher’s e-commerce company left a profound impact on China's economy.Ma, who also turned 55 on Tuesday, said farewell in a speech in the eastern city of Hangzhou where Alibaba is based, thanking employees and predicting a smooth transition to a team of executives led by CEO Daniel Zhang.“Today is not Jack Ma’s retirement.