peter_IFAMAG reads Twitter so you don’t have to.
ESG investors have a lot to be happy about as sustainably-themed funds had record inflows last year, and broadly seem to be weathering the Coronavirus storm better than their market equivalents. One fund that hasn’t performed so well is Soft Bank’s Vision Fund, that records $17.7 billion loss.
Derek Brower posts great article in which Ryanair Michael O’Leary’s outlook for enviromental targets is criticised.
Good piece from @naumanbilly. #ESG
Coronavirus is strengthening the hand of ESG investors – https://t.co/cD7ThLvNjG via @FT
— Derek Brower (@derek_brower) May 17, 2020
In related news, Ryanair saw eye watering profits until Coronavirus lockdown.
Ryanair
Europe’s biggest budget airline made a billion (euros) in the year to March 2020.
Average revenue per passenger was £51, of which £6 was profit.
But this summer – normally time for hyper-earnings – it predicts heavy losses.
When Ryanair sneezes …https://t.co/o7I7aBBMdw— @simoncalder (@SimonCalder) May 18, 2020
Bloomberg announced record losses for Vision Fund, a day after Alibaba’s Jack Ma resigned from board.
SoftBank's Vision Fund lost $17.7 billion last fiscal year on WeWork and Uber investments https://t.co/nIxxDDjqqy
— Bloomberg (@business) May 18, 2020
Dan McCrum highlights how exactly Vision Fund could suffer so greatly.
Softbank capitalism:
"Uber Eats is Uber's "most profitable division” 😂😂. Uber Eats lost $461 million in Q4 2019 off of revenue of $734 million. Sometimes I need to write this out to remind myself. Uber Eats spent $1.2 billion to make $734 million. In one quarter." https://t.co/JU2Iw6HQpf— Dan McCrum (@FD) May 18, 2020
Business Insider shared their article detailing further why Uber Eats has such vast costs.
Food delivery with third-party apps like Grubhub and Uber Eats is booming, but no one's making money. Here's why their business is broken. https://t.co/QjKqsgBqBh
— Business Insider (@businessinsider) May 18, 2020
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