12 May A NIKE LOGO-SHAPED RECOVERY? TECH STAFF MORE PRODUCTIVE AT HOME
Welcome to today’s business and media intelligence, with insights collected over the past 24-hours, as NSW records no new COVID 19 cases for the first time.
- A NIKE LOGO-SHAPED RECOVERY?
- Forget V-shaped. Instead, picture our economic recovery more like the Nike logo. According to The Wall Street Journal, the “swoosh” recovery predicts a large drop followed by a painfully slow recovery, with many Western economies not back to 2019 levels of output until late next year – or beyond. Read the full article here. (Subscriber access)
- THE PROBLEM WITH AMERICA
- Veteran columnist Alan Kohler says the problem with the US and its response to the COVID 19 emergency is a political system in potential decay – and a lack of leadership in the White House. Read his views in The Australian here. (Subscriber access)
- BUZZCUTS ARE IN, AND BECKHAM AGREES
- There’s no denying we’ve all considered the at-home haircut after weeks in lockdown and no escape to the salon. Data from Google suggests that the pandemic has caused a global surge in DIY haircare. Buzzcuts have seen the biggest increase, with David Beckham even donning the look, saying “it had to be done”. Read the latest trends in The Economist here.
Australian company news
- TECH STAFF MORE PRODUCTIVE AT HOME
- Westpac will re-assess the need for thousands of technology staff to be based at its major city offices, after seeing productivity increase among its developers, and major projects delivered successfully by home-based teams. The bank’s chief information officer, Craig Bright, said recent months had shown many tasks, previously thought to require in-person group collaboration, could be done from home. Read more in The AFR here. (Subscriber access)
- THE RETURN OF RETAILERS
- The return of retailers to Westfield malls has outweighed the short-term pain for shopping centre operator Scentre, which has ditched its interim distribution to shore up its finances. Even before social distancing restrictions begin to ease around the country, 57 per cent of its retailers have opened their doors, with more retailers are due to resume trading in coming weeks. Read the full article in The AFR. (Subscriber access)
- FAREWELL, JONESY
- Sydney radio star Alan Jones is quitting his ratings juggernaut breakfast show after more than 35 years on air in a major revenue blow to media group Nine Entertainment. Jones’s successor in the coveted breakfast chair will be the Sydney station’s current drive host, Ben Fordham. Listen to Alan’s on-air announcement to his listeners here.
- NEXT FEW YEARS BEST TIME TO INVEST IN TECH
- The country’s largest venture capital fund, Square Peg Capital, is readying for a wave of innovation off the back of the COVID-19 pandemic. Co-founder Paul Bassat pointed to previous crises, and the burst of innovation and opportunities that follow. 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.