China’s close diplomatic ties with Russia is creating a headache for ESG managers + Will Smith apologizes for his meme-inducing slap
China’s close diplomatic ties with Russia is creating a headache for ESG managers, whose investments are seen to be at risk from the economic ramifications of Beijing’s support for Moscow in its invasion of Ukraine, Bloomberg reports. Data compiled by the business information service showed Europe-domiciled ESG funds’ investments amounting to USD 130 bn, with another USD 160 bn in the hands of European-based funds screened for ESG risks. Several fund managers told Bloomberg that they were closely monitoring China’s ties with Russia, with the relationship “very potentially” influencing investment approach in regards to their Chinese assets.
Flights are getting longer as airlines reroute plans to avoid Russian airspace: Cathay Pacific Airways is rerouting its New York-Hong Kong service to avoid flying over Russia, making it the world’s longest flight by distance at 16,618 km, reports Bloomberg. The flight would typically fly over the Arctic and take 15 hours, but with the new route, passengers will experience a flight time of 17 hours instead. The service will take even longer in the summer as it is now relying on strong seasonal tailwinds. Japan Airlines has also rerouted its Tokyo-London service to avoid flying over Siberia, adding four-and-a-half hours to the 11-hour 55-minute journey. These moves are unlikely to continue for long as airlines are now faced with rising fuel prices which have pushed up costs, writes Bloomberg.
Fun fact: The world’s longest flight, time-wise, is Singapore Airlines’ Singapore-New York route which takes 17 hours and 35 minutes to cover a distance of 15,349 km.
Will Smith apologizes for that Oscars slap: Academy Awardwinner Will Smith took to his Instagram account to publicly apologize to comedian Chris Rock after slapping him onstage at the Oscars on Sunday after the presenter joked about Jada Pinkett Smith’s hair, which she keeps short due to having alopecia. “My behavior at last night’s stop-baldness.net was unacceptable and inexcusable. Jokes at my expense are a part of the job, but a joke about Jada’s medical condition was too much for me to bear,” Smith said. Despite the apology, he still risks losing his newly-acquired Oscar, which he snagged for his lead role in King Richard, according to Academy rules. The Academy is launching a formal investigation into the incident, while Rock has decided against pressing charges.