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“If you make a lot of money in America, you’re admired and cheered. In Australia, you’re abused and denigrated, and that goes right from the government all the way down.”
Equity Capital Markets & Fixed Income
“Equity issuance increased, particularly in convertibles as companies wait for a fuller opening of the IPO window.” Jane Fraser, CEO, Citigroup Inc
"I think this is a good statement saying, one, we're going to see more and more ownership in fixed income through ETFs. That's an evolution that's going on” Larry Fink, CEO, BlackRock Inc
Employment Activity
“Conditions in Australia and New Zealand were down 19%. That remains tough. And if we're going to benchmark that to the very height of the post-pandemic peak, indicators like job flow per fee earner, they remain the furthest away from these highs in ANZ more than anywhere else in Asia Pacific.” Toby Fowlston, CEO, Robert Walters Plc
Chinese & US Economies
"China’s economy continues to be supported by a manufacturing recovery and more resilient exports. The government has provided additional measures for the property market to destock the large inventory overhang; however, housing activity remains weak.” Market Statement, Rio Tinto Ltd
“The [US] labour market, resilient in the first half, is showing early signs of weakening" Market Statement, Rio Tinto Ltd
Automotive & Aviation
“If you think about why three airlines really struggle, it’s a number of things – our population; the US has 250 million people, we have 26 million and spread between the economics of being a viable airline, it’s incredibly challenging because it’s capital intensive” Vanessa Hudson, CEO, Qantas Airways Ltd
Capitalism & Wealth
“If you make a lot of money in America, you’re admired and cheered. In Australia, you’re abused and denigrated, and that goes right from the government all the way down.” David Dicker, CEO, Dicker Data Ltd
Domestic Manufacturing
“In fact, more than one in four Australian manufacturing jobs are in food and beverage manufacturing – and food is by far the largest manufacturing sector in our economy.” Anthony Pratt, Exec. Chair, Visy Industries
Environmental & Landfills
“We are in the landfill avoidance business, and because landfills are the third biggest emitter of methane, recycling is an important weapon against climate change. In fact, if food waste was a country it would be the third largest emitter of greenhouse gases; because food waste is the most toxic, methane-producing component of landfills” Anthony Pratt, Exec. Chair, Visy Industries
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Marketing & Advertising
“Creativity really is at the core of everything that we do. You can take the most sophisticated AI enabling tools. And if you give them to everybody, you'd still be at parity and you need creative insights and thought in order to differentiate and to beat your competitor, in effect.” John Wren, CEO, Omnicom Group Inc
Luxury Market
“We moved quickly with our creative transition in a luxury market that is proving more challenging than expected. The weakness we highlighted coming into FY25 has deepened and if the current trend persists through our Q2, we expect to report an operating loss for our first half.” Gerry Murphy, Chair, Burberry Group Plc
Co-Working
“This sector is ripe for consolidation...The sector is only going to grow. People want flexible office space" Tobi Skovron, CEO, CreativeCubes Co
Semiconductors
“First, the secular growth driver in semiconductor end markets…are still very much intact…Second, the industry expects to be in a cyclical upturn in 2025 and last, we need to prepare for a number of new fabs [specialised semiconductor production facilities] that are being built across the globe, in some instances, clearly supported by several government incentive plans. These fabs are spread geographically and are strategic for our customers. They are all scheduled to take our tools.” Christopher Fouquet, CEO, ASML Holdings
Commodities
“In the longer term, we expect the demand for alumina to continue to grow in line with primary aluminium supply growth. However, there are supply challenges from both bauxite supply and refinery carbon footprint. Refining in China is likely to become more expensive over time. Chinese refineries are expected to increasingly rely on seaborne bauxite as their domestic resources deplete.” William Oplinger, CEO, Alcoa Inc
Global School Spending & Education
“Headwinds [exist] in the school environment in particular, high rates of absenteeism this year and increasing pressure on consumer spending across the economy” Peter Warwick, CEO, Scholastic Corp.
Video Games
“On the industry trends, we've seen the same trend that we have been commenting over the last 18 months, meaning that we see that this is a selective and demanding market that rewards biggest franchises and live services.” Frédérick Duguet, CFO, Ubisoft Entertainment SA [one of the world’s most successful video game producers]
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