26 Nov JAMIE DIMON: A CASE STUDY IN EXECUTIVE CRISIS COMMUNICATIONS; BIODIVERSITY RISKS AND INVESTING IN YOUR FAVOURITE COMPANY.
Welcome to this week’s business and media intelligence update.
JAMIE DIMON: A CASE STUDY IN EXECUTIVE CRISIS COMMUNICATIONS
The public relations team at JPMorgan Chase have had a busy week, with CEO Jamie Dimon forced to bid a hasty retreat after his off-handed remarks about China’s ruling communist party went viral.
Both JPMorgan and the Chinese Communist Party (CCP), turned 100 this year, and Dimon joked at a Boston College conference that his company would likely outlast the CCP.
The storied banker is no stranger to controversy, with Dimon’s feud with the equally contentious Tesla CEO Elon Musk spilling on to the pages of the Wall Street Journal this week. Dimon has also found himself in hot water in the past, for declaring that cryptocurrencies are “worthless”, even as his company launched its own digital currency and created a blockchain project department.
JPMorgan Chase has invested some $20 billion in China, with ambitious plans for further expansion, and the CCP has shown no compunction about hitting back at companies that “hurt its feelings” or fail to play by its rules.
BIODIVERSITY RISKS AND INVESTING IN YOUR FAVOURITE COMPANY
Biodiversity loss and ecosystem collapse will present a material financial risk to investors and companies, according to new research by Ernest & Young for the Australian Council of Superannuation Investors (ACSI).
The report Biodiversity: Unlocking Natural Capital Value for Australian Investors assessed 11 ASX companies in the mining, energy, financial, real estate, agriculture and logistics sectors, and found that none had comprehensively assessed and disclosed the full magnitude of their biodiversity risks and impacts.
The report recommends ACSI members develop a clear plan to manage biodiversity-related financial risks and opportunities and push companies to do more to protect the environment from deforestation, ecosystem extinction and pollution.
REMOTE WORKING FROM OVERSEAS?
As many of us debate whether we will continue to work from home or return to the office, a few other options have now become available as workplaces: Tower Bridge, Gardens by The Bay, and the Taj Mahal.
Major consulting firms Deloitte and KPMG announced this week that they will be allowing employees to take extended overseas holidays to destinations including Britain, Singapore and India by working remotely.
This initiative is in response to a mass departure of young Australian professionals going overseas to work as borders re-open and is designed to retain employees within the firms.
Read more here.
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