09 Jun HAIRY FUTURE FOR AUSTRALIA; FASHIONABLY LATE, NO LONGER IN VOGUE
Welcome to this week’s business and media intelligence update.
HAIRY FUTURE FOR AUSTRALIA
Interest rate hikes this week are worrying not just homeowners but also some small businesses – like hairdressers.
Tuesday saw the Reserve Bank increase interest rates by 50 basis points, the biggest hike in 22 years.
But not only are small business owners bracing for higher interest repayments on their loans, they also fear that their revenues could slide as consumers start to rein in spending so they can cover higher mortgage repayments.
A Sydney barber told ABC News she’s already noticing customers are coming in for their haircuts every six weeks, rather than the usual four, as people start holding their wallets tighter to their chest.
Sydney is about to look a whole lot shaggier.
OR PERHAPS NOT?
Meanwhile, ASX listed grooming chain The Shaver Shop has reported that sales for the second half to May 31 were up by 5.7 per cent compared to the same period last year.
According to CEO Cameron Fox, men heading back into their offices are increasingly buying clippers and shavers to give them a clean-shaven look.
Enough of iso beards and long hair; we want to impress the boss.
FASHIONABLY LATE, NO LONGER IN VOGUE
Those who had previously struggled with being on time can no longer blame school drop-offs, commuting, or workplace chitter-chatter.
More than two years of remote working has given people the flexibility to function on their own time, and now, there’s little tolerance for tardiness.
With many workers still reluctant to go into the office, experts have told the New York Times that a culture of “getting things done” could be here to stay as people look to free up hours in their day.
After all, the early bird catches the worm.
Asia may be the most expensive continent to live in.
Global mobility company ECA International released its annual list of the world’s priciest cities this week – AKA a list of cities to avoid if you are strapped for cash. Five cities in Asia landed in the top 10: Tokyo, Shanghai, Guangzhou, and Seoul, with Hong Kong placing first for a third consecutive year.
New York City ranked second, followed by Geneva, Switzerland.
But where did Australian cities fall on the list? Thankfully, they didn’t scrape the top 20.
KEEPING UP WITH THE KOALAS
Keeping a colony of koalas well fed is tricky work. Not only are they fussy eaters (preferring only about 20 types of eucalyptus leaves out of 900 species), but each koala munches their way through half a kilo of leaves a day.
So, when a koala sanctuary said it needed help feeding its hungry marsupials, the Sydney Desalination Plant (SDP) – one of Cannings’ long-term clients – was more than happy to help. The SDP has planted 400 eucalyptus trees on its site to help feed koalas.
Read about the project here.
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