02 Jul LATEST CHANGES IN AUSTRALIAN MEDIA; ENGAGING THE VIRTUAL ROOM; CAPITAL RAISINGS AND TRADING UPDATES
Welcome to this week’s business & media intelligence update, with insights collected over the past week.
BIG BONUSES ON THE LINE – REMUNERATION SEASON MIGHT BRING THE VIRTUOUS UNSTUCK
- As companies ready for AGM season, activist investors are expected to mount a case against handsome bonuses, even for companies that have done well. That is because some shareholders may feel that big bonuses during COVID-19 may be in breach of the “social license to operate”. Read the full article in The Australian.
HERE IS THE NEWS! LATEST CHANGES IN AUSTRALIAN MEDIA
- A consortium of philanthropists and investors finalised a deal this week to purchase Australian Associated Press, which has been in operation for 85 years. While the new owners have said they will retain some of the AAP workforce, there will be job losses.
- The new owners of AAP have also appointed Emma Cowdroy as the new Chief Executive. She is confident the news agency cannot be replicated and will remain highly valuable to of its clients.
- Australian Community Media (ACM) will resume publishing some of its regional newspapers after “a big chunk” were suspended more than two months ago because of a drop in ad dollars.
IG ADVERTISERS STRIKE BACK – WE WANT YOU TO REFLECT YOUR VALUES
- Brands are collectively having a stronger voice in demanding that advertising platforms reflect their values. Facebook has held last ditch calls with its biggest advertisers this week as more than 400 brands prepared to pull their spending from its platform in a protest at its failure to tackle hate speech. US$75bn has been wiped off its market cap. Read more in the Financial Times here.
A MIXED BAG IN RETAIL: CAPITAL RAISINGS AND TRADING UPDATES
- The retail sector continues to be a tale of two halves with online homewares retailer Temple and Webster seizing on an almost five-fold surge in its share price to raise $40m in new capital. Read more here.
- Not so good news at Kathmandu – it issued a trading update warning that its earnings will fall about 30 per cent this year. Read more here.
ENGAGING THE VIRTUAL ROOM
- The rapid transition to virtual communication has brought with it the need for all of us to rethink and reskill ourselves in how we engage our audiences. This week on LinkedIn, Cannings shared its top six tips to consider when preparing for virtual events.
WHEN EVEN THE SUPER RICH STAY HOME
- They say the rich are different. But when it comes to COVID-19, even the very wealthy appear to be hibernating, as evidenced by the empty yachts along the Mediterranean, according to The Economist. Read the full article here.
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