ESG Controversy Top Movers

Week ending July 30th, 2023

In this week's report:

  • Several companies are making notable workforce reductions: Anheuser Busch, Virgin Media O2, Toyota, Amazon Fresh, Biogen;
  • UBS fined $400 million for the mismanagement of Credit Suisse finances and ties with Archegos;
  • Ryanair faces potential data protection sanctions due to its use of facial recognition during online bookings, and
  • Naturgy was fined €6 million and ordered to pay €35.5 million in damages for manipulating electricity prices.
Company
Category
Momentum
Event
BUD Anheuser-Busch InBev S.A. N.V.

layoffs

Anheuser Busch, the maker of Bud light, is laying off hundreds of positions across its U.S corporate staff.
Virgin Media O2

layoffs

Virgin Media O2, the mobile phone giant, plans to cut up to 2,000 UK jobs by year-end, affecting approximately 12% of its workforce.
UBSG UBS Group AG

sanctions-target

UBS was fined $400 million by US, Swiss, and UK authorities for the mismanagement of Credit Suisse finances and relationship with Archegos Capital Management.
WYNN Wynn Resorts Ltd.

sanctions-target

Massachusetts fined Wynn Resorts $35 million, and CEO Matthew Maddox $500,000 for not disclosing sexual misconduct allegations during the Boston resort license application.
TM, 2238:HKG Toyota Motor Corp., Guangzhou Automobile Group

layoffs

Toyota has laid off approximately 1,000 contract workers at one of its factories in China, part of its joint venture with Guangzhou Automobile Group (GAC).
AMZN AmazonFresh LLC

layoffs

Amazon Fresh cuts hundreds of in-store jobs to improve the grocery chain's profitability.
BIIB Biogen Inc.

layoffs

Biogen plans to cut 1,000 jobs (11% of its workforce) to reduce costs and boost growth ahead of the launch of a new Alzheimer's drug
SE Sea Ltd.

fraud-defendant

A securities class action lawsuit has been filed against tech conglomerate Sea Limited, alleging misleading statements that caused significant investor losses.
RYAAY Ryanair Holdings PLC

data-protection-infringement-defendant

Digital rights group NOYB filed a complaint against Ryanair for violating customers' data protection rights through facial recognition during online bookings.
NTGY Naturgy Energy Group S.A.

price-fixing-fine-target

Spain's competition watchdog fined Naturgy €6 million and ordered the company to pay €35.5 million in damages for manipulating electricity prices during 2019-2020.

It's often difficult to follow all the news to build a complete picture about a company, particularly when events are less reported. Yet published research has identified how selecting stocks and bonds with low controversy profile captures more alpha and lowers risk.

Leveraging local and global newswire coverage, the RavenPack controversy framework allows investors to identify companies involved in controversial events. Each week we publish a selection of controversy identified on a different universe.

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