19 Aug REPORTING SEASON – AND WHY EVERYONE IS DRIVING; BANKERS – IT’S TIME FOR BARS, BOATS, AND BROADWAY SHOWS!
Welcome to this week’s business and media intelligence update.
REPORTING SEASON – AND WHY EVERYONE IS DRIVING
Earnings season really revved up this week, with a host of blue-chips announcing their latest earnings and shedding some light on how the corporate sector is chugging along amid rising interest rates, low unemployment (now down to 3.4 per cent), and inflation.
Amid BHP’s mind-boggling $US30.9 billion profit, an earnings slump at Seven West Media and some mixed results from retailers, the sharp drop in net profit reported by toll road group Transurban provided some interesting insights into the changing nature of driving in and around our CBDs.
Chief executive Scott Charlton said Transurban’s research revealed a growing trend towards private vehicles over public transport. It seems Australians are using the company’s toll roads to move around their cities, rather than just commute in and out of the CBD to go to work particularly given the number of office workers still working from home a few days a week.
BANKERS – IT’S TIME FOR BARS, BOATS, AND BROADWAY SHOWS!
Junior bankers on Wall Street are starting to feel anxious as the COVID-19 pandemic has unsettled their journey to build their careers.
Market uncertainty has led to less global dealmaking, such as M&As, leaving many bright-eyed bankers unsettled by the prospect of layoffs, smaller bonuses, and lacklustre work.
But, on the flip side, Bloomberg reports this has allowed workers to have more free time to enjoy the sights and sounds of the city, something usually hard to come by for the industry.
LESSONS FROM LINKEDIN
A CEO was hit with swift backlash this week for posting a crying selfie on LinkedIn right after sacking 17 employees. While many were quick to comment on the inappropriateness of it all, the post also sparked a broader conversation about well, about LinkedIn.
Considered by many as a valued online tool where people can connect and network, the platform was chastised by others for becoming overcrowded with “inspirational” and tone-deaf comments from thought leaders.
With the Wall Street Journal this week reporting some LinkedIn enthusiasts are spending US$1,000 or more for the “perfect” profile headshot, the haters might be on to something…
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