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China vows ‘no mercy’ in battle against corruption, big tech
Bloomberg News, 20 January 2022China has vowed to curb the influence of tech companies and root out corruption tied to the “disorderly” expansion of capital, a sign that authorities may try to expand a regulatory crackdown that erased more than $1 trillion of market value in 2021. The Chinese government declared it would break the ties between money and power, tackle...
government relations
Australia stagnates in ranking of world’s most prosperous countries
Latika Bourke, The Sydney Morning Herald, 20 January 2022According to a global index measuring the material health of countries, including wealth, quality of life, and life satisfaction for 15 years, Australia’s ranking has slipped from first in 2008 to sixteenth in 2021. Australia’s experience is a reflection of the world's declining prosperity, which has been exacerbated, although not caused, by...
socio political environment
Indonesia names new capital, approving shift from Jakarta
Masrur Jamaluddin & Hannah Ryan, CNN, 19 January 2022Indonesia has named its new capital Nusantara, as lawmakers approve the shift from Jakarta to Kalimantan, a jungle-covered area on the east of Borneo island. Concerns over the sustainability of the congested and rapidly sinking political centre of Jakarta prompted the need for a new capital, and the nation's House of Representatives officially...
socio political environment
How companies reckon with past wrongdoing
HBR IdeaCasr, Harvard Business Review, 18 January 2022Assistant professor Sarah Federman of the University of Baltimore discusses how companies handle their historical misdeeds, and what that means for employees and customers. From firms that backed slave owners to companies that transported Holocaust victims, many legacy companies can find they played a role in past transgressions. Federman makes...
corporate reputation
Wealth of 10 richest men doubled during pandemic as 99% of incomes dropped: Oxfam
Catherine Thorbecke, ABC, 18 January 2022The 10 richest men in the world doubled their fortunes during the COVID-19 pandemic, an Oxfam report has found. Oxfam’s findings highlight how the global health crisis has deepened the divide between the haves and have-nots as well as the need for policy intervention to address...
socio political environment
Larry Fink’s letter to CEOs: The power of capitalism
Larry Fink, BlackRock, 18 January 2022Each year, BlackRock CEO Larry Fink publishes a letter to business leaders and CEOs. This year, Fink writes about the power of capitalism and how stakeholder capitalism is not about politics. It is capitalism driven by mutually beneficial relationships between organisations and the employees, customers, suppliers, and communities the company...
socio political environment
Three ways for businesses to fuel innovation and drive performance
Grant Alexander Wilson, The Conversation, 18 January 2022Businesses have experienced unprecedented operational disruptions and market uncertainties due to the COVID-19 pandemic. Accordingly, many business executives are prioritising innovation to enhance competitiveness and performance in 2022. This is easier said than done, as the list of supposedly essential innovative practices is extensive and...
measurement
How social enterprises can help corporations meet their ESG goals
Yasmina Zaidman and Asa Skogstrom, Harvard Business Review, 18 January 2022The private sector is undergoing a seismic transformation, driven in part by the climate crisis, COVID-19, and extreme financial inequality. These external factors have prompted the world’s corporate leaders to focus on their social responsibilities and make bold commitments to environmental, social, and governance (ESG) goals. To deliver on...
csr
‘Pharma bro’ Martin Shkreli banned for life from drug industry
Michael Sisak & Jennifer Peltz, The Sydney Morning Herald, 17 January 2022‘Pharma bro’ Martin Shkreli must return US$64.6 million in profits he and his former company reaped from jacking up the price and monopolising the market for a lifesaving drug, a US federal judge has ruled. Shkreli has also been barred from the pharmaceutical industry for...
socio political environment
Online privacy & technology shaping society
Big Ideas Podcast, ABC, 17 January 2022This episode of the Big Ideas podcast explores how digital technology has kept us connected through the COVID-19 pandemic. However, it has also meant an increase in privacy concerns. The podcast investigates whether rapid technological change demands a new social system, and if it is disrupting our social and political systems...
socio political environment