01 Jun AUSTRALIAN UNIVERSITIES FACING POST VIRUS SHAKE UP; AUSSIES RETURN TO THE MARKET VIA INTERNATIONAL BROKERS
Welcome to today’s business and media intelligence, with insights collected over the past 24 hours, as restaurants and pubs in NSW prepare to welcome up to 50 people from today – provided they keep their distance!
MORE TO COME: CAPITAL RAISINGS
- Australia’s top lawyers are predicting more capital raisings as companies look to shore up liquidity due to market uncertainty and M&A opportunities. Since March 1, Aussie listed corporates have raised $20 billion in capital, with King & Wood Mallesons predicting raisings will outstrip the $100 billion raised in the GFC. Read more in The AFR here. (Subscriber access)
- Offshore, investment banking co-head at Citigroup told the Financial Times “we really are telling every client to tap the market if they can, because we think the pricing now couldn’t get any better”. Citigroup said financial markets were way ahead of reality with tougher times to come. Read more in the FT here.
ON THE BRINK; AUSTRALIAN UNIVERSITIES FACING POST VIRUS SHAKE UP
- Professors at the Centre for the Study of Higher Education say the impact of COVID-19 on Australia’s universities has been so severe that some are likely to face the question of whether they’re a going concern without additional funding. Some may be forced to merge, with RMIT in Melbourne flagged as the most vulnerable to financial risk. Read the full AFR article here. (Subscriber access)
FEWER MIGRANTS, LOWER GROWTH
- Closing Australia’s borders will reduce net overseas migration by 270,000 from the start of the pandemic to the end of the 2021 financial year with experts saying our nation’s growth will stall as a result. There is a call to double our efforts in productivity and participation in lieu of the third ‘P’ (population) in the economic ‘three P’ growth model. Read more in The Australian here. (Subscriber access)
AUSSIES RETURN TO THE MARKET VIA INTERNATIONAL BROKERS
- Morgan Stanley, Credit Suisse and Citi have reported growth in new business for their private banking and wealth management operations citing an increased appetite from clients for genuine global insights as clients leave the big Australian domestic banks. Read more in The AFR. (Subscriber access)
REMOTE WORK, IT’S HERE TO STAY
- Three out of four managers believe their staff will work remotely more often after the pandemic, according to a study by Swinburne University, reflecting how workers are proving it is not only possible but practical on a longer-term basis. Read more in the SMH. (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.