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Corporate boards eye profitability over “woke capitalism” again

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Is the end of woke capitalism over? Corporate boards are once again reprioritising profit over culture, reputation, social and climate concerns.

The survey, conducted by law firm King & Wood Malleson and reported in the Australian Financial Review, found that nearly 70% of directors now consider profitability as their top priority. This represents a notable increase from just 47% in the previous year when profitability ranked fourth behind concerns about skilled labor, skills shortages, and cyber risks.

The return to a profit-centric approach is also evident in directors’ views on supporting social issues such as “the Voice,” a term often used in the context of Indigenous representation and rights in Australia. According to the survey, 29% of directors believe that addressing these social issues is not the role of businesses, while 44% would consider it only if it directly relates to their business operations.

Only 20% of directors expressed support for businesses backing “the Voice,” despite a campaign featuring prominent directors endorsing a “Yes” vote in the Indigenous Voice to Parliament referendum.

Meredith Paynter, a partner at King & Wood Mallesons and the lead author of the survey, noted that there has been pushback against corporations taking strong stances on socioeconomic issues, particularly in the United States, where such actions have been criticised as “woke capitalism.”

The survey also revealed that over 12% of directors admitted to reevaluating or retracting their public commitments or disclosures related to environmental, social, and governance (ESG) issues. This comes in response to increased regulatory scrutiny on greenwashing and the growing threat of climate-related litigation.

Emma Newnham, a representative of King & Wood Mallesons, emphasised the real risk of greenwashing and stated that some organisations are reevaluating or scaling back their public ESG commitments in response to these concerns.

The focus on profitability extends to medium-term goals as well. The survey found that 43% of directors prioritise finding new business models, an increase from the 35% who expressed this sentiment in the previous year.

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Ukraine faces tough choices amid US-Russia peace talks

Ukraine faces tough choices amid U.S.-Russia secret peace plan negotiations, potentially demanding significant concessions from Kyiv

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Ukraine faces tough choices amid U.S.-Russia secret peace plan negotiations, potentially demanding significant concessions from Kyiv

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In Short:
– Ukraine faces challenges with a U.S.-Russia peace plan requiring major concessions to Moscow.
– Senior U.S. officials are in Ukraine discussing conflict resolution amid concerns over Ukrainian input.

Ukraine faces challenges amid reports of a U.S.-Russia peace plan to end the war, potentially involving major concessions to Moscow.Senior U.S. military officials are currently in Ukraine for discussions aimed at ending the conflict. The visit follows reports suggesting that Washington and Moscow developed a 28-point peace plan without Ukrainian input.

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The plan reportedly includes territorial concessions in eastern Donbas, limitations on Ukraine’s military capabilities, and a substantial reduction in armed forces. Some reports suggest that Russia could control the Donbas while Ukraine retains legal ownership, with payment arrangements in place, but these claims remain unverified.

A senior Ukrainian official indicated that Kyiv received signals regarding U.S. proposals but was not involved in their formulation. The Kremlin has denied any new developments in peace talks since President Putin and President Trump last met.

The White House has not confirmed the existence of the peace plan but acknowledged that new proposals are being explored. U.S. Secretary of State Marco Rubio stated that achieving peace necessitates difficult concessions from both sides.

Ukraine’s Options

Ukraine has not responded publicly to the peace plan but anticipates discussions with U.S. officials. President Zelenskyy noted that the U.S. plays a crucial role in resolving the conflict.

Despite Ukrainian concerns, the country remains reliant on U.S. military aid, with European support becoming less immediate. European officials have expressed dissatisfaction over peace proposals that do not involve Ukrainian input, noting it is essential for any viable plan.

Analysts have warned that the proposed plan may signify Ukraine’s capitulation, undermining its defensive positions and inviting further Russian aggression.

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US job growth strengthens in September despite rising unemployment

US job growth slows as unemployment rises to 4.4%, amid economic uncertainty and impact of artificial intelligence on labour market

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US job growth slows as unemployment rises to 4.4%, amid economic uncertainty and impact of artificial intelligence on labour market

In Short:
– U.S. employment growth quickened in September, but unemployment rose to 4.4%, the highest since 2019.
– Job gains were led by healthcare and leisure, while transportation, warehousing, and government jobs declined.

U.S. employment growth accelerated in September, although the labor market struggled to keep up with new job-seekers due to challenges such as import tariffs and the integration of artificial intelligence in roles.The unemployment rate rose to 4.4%, its highest in four years, from 4.3% in August, according to the Labor Department. Revised payroll data indicated that jobs were shed in August, highlighting ongoing labor market softness.

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Layoffs remained low in mid-November, indicative of a “no-hire, no-fire” condition in the job market. Some economists believe the rise in unemployment supports a Federal Reserve interest rate cut, while others argue in favour of maintaining rates due to the surprising job growth.

Nonfarm payrolls increased by 119,000 jobs after a revised decrease in August. Economists had previously forecasted a much lower job addition. The report’s release was delayed due to a federal government shutdown.

Stock markets in Wall Street experienced declines, while the dollar remained steady against various currencies. Job gains were influenced by seasonal adjustments in sectors like leisure and hospitality.

Job Sector Trends

Healthcare employment led growth with 43,000 new jobs, while the leisure sector added 47,000. Conversely, transportation and warehousing lost over 25,000 positions, with manufacturing shedding 6,000.

The federal workforce decreased by 3,000 jobs, part of a larger trend of declining employment in government positions. Despite momentum loss, labor participation rose, impacting the unemployment rate dynamics positively.


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U.S. pushes Ukraine toward controversial peace plan with Russia

US pressures Ukraine to accept a peace plan risking territory loss amid ongoing conflict with Russia.

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US pressures Ukraine to accept a peace plan risking territory loss amid ongoing conflict with Russia.


The United States is pressuring Ukraine to accept a peace plan that would see the country surrender territory and military equipment as part of a negotiated settlement with Russia. The proposal has sparked concern within Kyiv over the potential loss of sovereignty and long-term security.

President Volodymyr Zelenskiy is in Turkey discussing this plan, which may also involve cuts to Ukraine’s armed forces. His visit comes as Washington intensifies efforts under the Trump administration to secure an end to the conflict, despite fears the terms could undermine Ukraine’s national interests.

As Russian forces continue their aggressive campaign, holding roughly 19% of Ukrainian territory, Zelenskiy is attempting to revive peace talks before winter further complicates the frontline. The stakes remain high as the geopolitical landscape shifts.

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#Ukraine #USPolitics #PeacePlan #Zelenskiy #Russia #Geopolitics #WarInUkraine #TickerNews


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