24 Mar MASTERS OF THE UNIVERSE…IN TROUBLE; ARE CYBER ATTACKS OLD NEWS?
Welcome to this week’s round up of insights and commentary, brought to you by Team Cannings.
MASTERS OF THE UNIVERSE…IN TROUBLE
Spare a thought for the investment banking community. Seriously …
New figures compiled by data company Refinitiv have confirmed a 66 per cent drop in the revenue earned by investment banks from transactions (IPOs, M&As, capital raisings), compared to the same period last year.
In fact, this year is likely to be the worst year since 2006 for investment banks involved in Australian deals, according to The Australian Financial Review.
As the paper put it, the bad news means there could be “carnage” when the next bonus season comes around.
ARE CYBER ATTACKS OLD NEWS?
Remember when the cyber attacks on Optus and Medibank flooded the front pages and airwaves for weeks?
Well, the same can’t be said for the consumer credit provider Latitude. The company announced this week that a major data breach had resulted in the theft of information impacting over 310,000 customers.
As Nine newspaper columnist Elizabeth Knight noted, Latitude may have learned valuable lessons from the way Optus and Medibank handled public responses to their respective cyber attacks. Knight suggests that with Latitude avoiding giving definitive statements from the start, customers and shareholders appear to have been taking the news “in their stride”.
GHOST JOBS
It turns out that not all job advertisements are attached to actual jobs – some are “ghost jobs”.
A survey by US lending firm Clarify Capital of 1,000 hiring managers found that 27 per cent reported having jobs advertised for more than four months while 10 per cent had jobs posted for more than six months.
The reason? Managers said it gave the impression the company was growing, in the process placating overworked employees.
LIGHTS, CAMERA, ACTION!
Creating in-house content seems to be growing in the US, according to The New York Times.
Since the lifting of pandemic restrictions, an increasing number of organisations are splashing out to add in-house production and broadcast facilities to their offices, creating content to be used primarily on social media.
The key driver is to help companies save millions of dollars that was previously spent on outsourced production studios and creative agencies.
THREE DAYS TO GO
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