Welcome to today’s business and media intelligence, with insights collected over the past 24 hours.

International news

  • Hedge funds have suffered their worst quarterly outflows since 2009 as investors pull out USD33 billion from hedge funds in the first three months of 2020. Read the Financial Times article here. (Subscriber access)
  • M&A activity is taking a hit, reports the Financial Times. Last week no M&A worth more than $1billion were announced anywhere in the world for the first time since 2004, with YTD activity at the lowest level since 2013. (Subscriber access)
  • Psychotherapist Esther Perel gives some context to the grief and anxiety some may be feeling and says “it’s still okay to celebrate in the middle of grief”. Watch The New York Times video here.
  • Turn off Gwyneth Paltrow and get out your watercolours. That’s the advice from The Economist, which argues that even if you are not very good at painting, “the attempt to paint in watercolour brings many rewards”, especially in lockdown. (Subscriber access)

Australian company news 

  • More trouble ahead for shopping centres, Sydney Airport
    • The possibility of a second airline based at Badgerys Creek has resurfaced, raising concerns for Sydney Airport. Meanwhile, Australia Post’s announcement on changes to mail delivery indicates an uplift in online shopping that could impact shopping centres that don’t adapt, writes Robert Gottliebsen in The Australian. (Subscriber access)

Australian markets 

  • Capital rules tweaked by ASX as investors complain about share allocation
    • The ASX has updated its guidance on capital raisings after receiving complaints by investors on share allocation in new placements.  Read the AFR article here and ASX guidelines here.
    • Meanwhile, ASIC is working on a share trading reform package to facilitate settlement and clearing in instances of record share trading volumes. Read the Chanticleer article here. (Subscriber access)
  • ASX companies believe fraud a key concern in new environment
    • A KPMG survey of risk, audit and legal executives has shown an overwhelming majority believe their organisations are vulnerable to fraud in the new working environment, with seven per cent of respondents already experiencing fraud. KPMG puts it down to three classic fraud factors coinciding: opportunity, motive and rationalisation. Read more in The Australian here. (Subscriber access)
  • Coronavirus may elevate status of tech execs
    • Given tech executives role in maintaining business operations during this time, former BOSS Young Executive winner Mandy Ross believes more tech execs will be CEO candidates. Read more in The AFR. (Subscriber access)
  • United States monitoring Australia’s moves on revenue sharing by Google / Facebook
    • The US News Media Alliance, which represents 2,000 US news organisations, said it is closely monitoring moves in Australia and France to make Facebook and Google share advertising revenue with media companies. Read more in The AFR. (Subscriber access)
  • Toilet paper is not the only thing Australians are hoarding
    • Hang on to those $100 notes… Just when we thought cash was dead, The Australian’s Wealth Editor, James Kirby, reports more Australians are hoarding old fashioned cash in their safe deposit boxes. Read the full 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