11 May INVESTORS BRACE FOR YEARS OF LOWER DIVIDENDS; MORE MEDIA NEWS; ASX TAKES ACTION AGAINST 60 ANNOUNCEMENTS
Welcome to today’s business and media intelligence, with insights collected over the past 24-hours, as the number of workers made redundant in the US reached a staggering 20 million – the biggest drop in employment since the Great Depression.
- TIT FOR TAT: US / CHINA STOUCH OVER JOURNALISTS CONTINUES
- The clash between the US and China over each other’s media presence abroad continues with The Trump administration putting a 90 day work visa limit on Chinese journalists working for non American news outlets – a far cry from the open ended, single entry stays previously granted. Read the full story in the New York Times.
- INVESTORS BRACE FOR YEARS OF LOWER DIVIDENDS
- UK’s 100 biggest listed companies have cut payouts to shareholders by nearly £24 billion since the start of the pandemic. Fund managers are saying the crisis gives the opportunity for many companies to reappraise dividends. Read the full story in the FT. (Subscriber access)
Australian company news
- EASY DOES IT – CORPORATE AUSTRALIA RETURNS TO THE OFFICE. SLOWLY.
- With easing of restrictions in Australia, some big companies are bringing workers back into head office. For example, Woodside is resuming a “red and blue” team approach to work alternate weeks in the office, and CBA adopting a similar approach. Wesfarmers is also finalising a phased return to work plan. Read about other companies returning to the office in The AFR. (Subscriber access)
- MORE MEDIA NEWS
- News Corp is understood to be in discussions with Australia Community Media for a part or full sale of its regional and community newspaper portfolio, which includes titles such as The Daily Mercury, Wentworth Courier and Mosman Daily. Read more in The AFR here. (Subscriber access)
- New research confirms that more of us are watching television (live or on demand), but disappointingly for commercial television companies, the extra eyeballs have not translated into extra dollars from advertisers. Read the report here from The Australian. (Subscriber access)
- BIG W CATALOGUE NO MORE
- Following Woolworths’ announcement last week to cut the size of its printed catalogues, Big W has decided to stop printing its catalogue altogether, opting for a digital only presence as retailers look to save costs. Read The Australian article here. (Subscriber access)
- HITTING A COVID MENTAL WALL?
- The last 10 weeks has taken its toll on workers around the country, with the Woolworths CEO saying “the adrenaline is coming off”. Read about company leaders who are cognisant of the mental health impact on their teams and what they’re doing to lead by example in The AFR here. (Subscriber access)
- QUESTION MARK OVER THE ‘E’ in EPS
- Major companies are scheduled to report earnings and trading update this week, which will paint a clearer picture of the impact of COVID-19 on the Australian economy. Since a widespread trend of withdrawing earnings forecasts in March, investors have found it more difficult to properly value listed companies. Read The AFR article here. (Subscriber access)
- ASX TAKES ACTION AGAINST 60 ANNOUNCEMENTS FOR COVID HYPE
- As the ASX’s compliance head – known in the market as “none shall pass” – retires next month, the exchange announced it has taken action on 60 announcements related to COVID 19, with some listed companies looking to create “hype” around how they could “benefit” from the pandemic. Read more in The AFR 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.