27 May THE REAL WINNERS AND LOSERS IN THE AMENDED CONTINUOUS DISCLOSURE REGIME
Welcome to today’s business and media intelligence, with insights collected over the past 24-hours.
ARE YOU READY? RETURNING TO THE OFFICE MAY NOT BE TOO FAR AWAY
- Coca-Cola Amatil’s staff are preparing to return to their North Sydney headquarters on Monday using a “teams” model to minimise the chances of any infection spreading. Setting up into Team A and Team B, managing director Alison Watkins said it was no reflection on how any employee was regarded, placing herself in Team B. Read the AFR’s full article here. (Subscriber access)
- Mid-tier accounting firms RSM and BDO are looking at a phased return to work, with RSM already having about 35 per cent of staff back at its offices. The move comes as employees report challenges with working from home, including the lack of face-to-face contact with colleagues and clients. Next barrier: the use of public transport, with the companies looking at providing discounted or subsidised parking rates. (Subscriber access)
- Prior to COVID-19, remote work was the exception rather than the norm. The “flexible work” arrangements were seen as a perk, with a 2018 survey finding only around three per cent of American employees worked from home more than half of the time. Not any more. The New Yorker’s questions whether we can solve the long-standing problems that have thwarted remote office work in the past.
SPENDING IS BACK
- Credit and debit card data shows consumer spending has recovered so much that it is now above where it was this time last year! Read The AFR’s article highlighting which industries are receiving most of our money. (Subscriber access)
BETTER TRY (M&A) AGAIN NEXT YEAR
- Investment bankers are an optimistic bunch – they believe that the local mergers and acquisitions scene will burst back into life early next year. This follows the release of new figures by global markets data company, Refinitiv, which says the value of M&A deals in Australia for the year to date has plunged 29 per cent compared to the same period last year. Read The Australian article here. (Subscriber access)
THE REAL WINNERS AND LOSERS IN THE AMENDED CONTINUOUS DISCLOSURE REGIME
- Losers: investors. A number of investors are worried that even changing the continuous disclosure regime for a short period could erode investor confidence, with the voice of investors lost and even their rights eroded in these changes. Read the full AFR article here. (Subscriber access)
- Winners: ASX companies. Boards and management can now focus on running the business rather than worrying about opportunistic class actions, said Wesfarmers Chairman, Michael Chaney. The amended regime came after sustained lobbying from the Business Council of Australia and Australian Institute of Company Directors, which both argued that corporate Australia needed relief as it recovered from the impact of COVID-19. Read The AFR article here. (Subscriber access)
WHAT A VIEW!
- Picture this: A romantic dinner for two. The wine is excellent, the food delicious. It’s almost like the good old days. Except for the giant, see-through lampshades on your heads. Read more and see the pictures of the French installation designed to keep you safe from COVID-19 whilse eating at your favourite restaurant here.
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.