Week ending Fri 18 Oct 2024
News Analysis: Jobs market remains strong, Nine’s cultural review, Virgin posts profits
Nine's culture shock: Nine Entertainment's cultural review reveals deep-seated issues that demand immediate and genuine reform. While the leadership claims to prioritise change, a commitment to transparency and accountability is essential. Without it, the company's reputation—and consequently its value—could suffer irreparably.
Job surge fuels inflation worries: The job market remains tight, fuelled by rising participation and migration. However, most of the growth is in government sectors, which do little to enhance productivity or drive innovation. This overreliance on public spending could hinder long-term economic health, keeping inflation high and further squeezing struggling households and businesses.
Virgin's comeback in the making: Virgin Australia’s latest earnings numbers reveal a significant recovery just four years after its dramatic collapse. With increased revenue and a strategic partnership with Qatar Airways, the airline is closing the competitive gap with its main rival, Qantas, as the latter navigates its own challenges.