Welcome to today’s business and media intelligence, with insights collected over the past 24 hours as we come to the end of another week of Australia’s strict social distancing rules.

International news

  • Now that we have got the technology (almost) right, motivating employees remotely is the next challenge people managers are dealing with. Harvard Business Review writes on how to keep your team motivated and three tactics to help support your customer service leaders, as well as a video with some great practical tips for staying connected while you’re apart.
  • The Financial Times, in the UK, says coronavirus is “the ultimate predictable surprise”, offering behavioural theories on why we have been blindsided by this virus. The reasons include wilful blindness, normalcy bias, optimism bias, exponential myopia and our seemingly unlimited capacity for wishful thinking. Read the full article here. (Subscriber access)
  • Governments are spending trillions of dollars to save the global economy, but Bloomberg questions whether there is a risk of undermining the meaning of money. (Subscriber access)

Australian company news 

  • ASIC reminds companies of regulatory compliance
    • Sportsbet has blamed working from home arrangements for “challenges in implementing its control framework” after ASIC raised concerns over a new product allowing punters to bet against the ASX 200 performance. This has led ASIC to remind firms of their continued compliance with regulatory obligations, as you can read in this release .
    • ASIC has also announced that due to remote working, plans to embed agents inside banks are on hold. The regulator says it will “continue to monitor firms remotely.” See the announcement here.

Australian markets 

  • High activity among retail investors
    • In March, CommSec recorded its 15 busiest days of trading in its 25-year history, as trading by retail shareholders hit extraordinary levels. The AFR’S Chanticleer columnist offers a different view to the ’derogatory stereotype’ of retail investors. (Subscriber access)
  • Changing how we think about work
    • According to a real estate expert at EY, extended social distancing rules will likely also mean we’ll turn to artificial intelligence and analytics to manage rostering: “The coronavirus will be fought not just by epidemiologists, but by internet of things specialists, computer scientists and big data analytics.” More employees will have a choice about how they want to work. Read The AFR article here.
  • Market principles being upended
    • Comments by Chamath Palihapitiya, the head of self-styled “problem solver” Social Capital, have caused a stir in the US. A critic of Wall Street, Palihapitiya explained to CNBC that not every company deserves to survive COVID-19: “Who cares? Let them get wiped out.” Read the AFR article here. (Subscriber access)

Our daily briefing is not meant to be a summary of media coverage but rather, insights that may be helpful in understanding how organisations are communicating with stakeholders in a time of crisis – and what comes next. Sign up via email