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For companies, offshore expansion doesn t really work via Zoom

For companies, offshore expansion doesn’t really work via Zoom Save Share Australian companies will largely put off significant offshore expansion plans while international borders remain shut, business leaders have warned. The timing of the prolonged border closure is damaging as it coincides with calls for companies to reduce their reliance on China because of the tense trade relationship with the world’s second-biggest economy. John Wylie says it is hard to build new relationships with counterparties through video conferencing.   Arsineh Houspian “When you have established relationships, whether personal or commercial, you can sustain those relationships through Zoom calls. You can’t build new relationships, or it’s very, very hard to build new, trusting relationships by video conferencing. It’s very hard to grow businesses and build new relationships and go into new markets if you haven’t actually met people,” said John Wylie, pri

The Overnight Report: Overshot

Taper Tantrum News this morning is the Stalinglad lockdown is set to be extended for another week. Gladys had correctly predicted case numbers would “bounce around”, and a four-day run of 35-16-35-18 is testament. This was not known yesterday when the ASX200 again attempted to rally from the open, despite no Wall Street, to be up 30 points in the first half hour before easing slightly ahead of the 11am update. It appears the market was unsure about an 18 result, tracking sideways for an hour until someone pointed out the Dow futures were tumbling. The index was down -25 by 2pm before rallying back to flat ahead of the 2.30pm RBA statement release. The release contained three surprises.

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