28 Jul RECESSION RECIPE; TIKTOK’S TRICKY TIES
Welcome to this week’s business and media intelligence update.
RECESSION RECIPE
Spare a thought for Jim Chalmers, our new(ish) Treasurer. Chalmers had barely any time to warm up the government benches and he is already serving up an unpalatable economic message to Australians with inflation, interest rates and unemployment all tipped to rise while economic growth slows.
While recent positive trading updates from the likes of Myer, JB Hi Fi and Flight Centre indicate consumers are still out there spending despite rising prices, some commentators, such as MB Super’s David Llewellyn-Smith, are beginning to wonder if there’s now enough economic ingredients for a recession.
However, Shane Wright at The Sydney Morning Herald notes that things were actually much tougher back in 1929 thanks to the Black Tuesday stock market crash, while The Economist suggests there could even be some silver linings if the IMF’s warnings of a global recession come to fruition.
TIKTOK’S TRICKY TIES
Leaked documents from social media platform TikTok have shown how the company dodges tricky questions from the media and regulators amid continued public scrutiny over its ties to the Chinese Communist Party.
The documents advise TikTok’s employees to “downplay the parent company ByteDance, downplay the China association, downplay AI” and instead “emphasise TikTok as a brand/platform that is only for users aged 13 and over”.
Instagram might want to start looking elsewhere for inspiration…
THE ART OF SAYING SORRY
Why does sorry seem to be the hardest word?
Manly coach Des Hasler’s lengthy apology this week over the NRL club’s controversial mishandling of its plans for players to wear a pride jersey is a timely reminder of not only the importance of saying sorry but being sincere.
So, what’s the secret to saying sorry successfully? And why does it matter, anyway?
Associate Director Belinda Tasker delves into the art of a good apology. Read her piece here.
‘ON THE COUCH’ WITH THE AFR
With the 2022 financial year behind us, ASX-listed companies are preparing their results and thinking about what investors may be most focused on.
But have they considered another important stakeholder – the media?
Cannings Director Amy Piek sat down with Tom Richardson, Markets Reporter at The Australian Financial Review, for our latest ‘On the Couch’ podcast episode to discuss what media will focus on this reporting season.
Listen to the latest episode on the following platforms:
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