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“This year’s fuel spike has accelerated change across the industry. Resilient demand and greater focus on profitability are enabling the industry to recover higher fuel costs more quickly.”
Deflation & IT Services
“You can also see that we are able to offset AI-driven deflation by gaining market share in our core services, and through our advanced AI offerings, which is helping us capture a share of the rapidly expanding AI spend across the technology ecosystem.” C. Vijayakumar, CEO, HCL Technologies Ltd [multinational IT services group]
“The demand environment has not materially changed since last quarter, and discretionary programs without near-term value remain under scrutiny.” K. Krithivasan, CEO, Tata Consultancy Services Ltd [multinational IT services group]
Cost Recovery
“This year’s fuel spike has accelerated change across the industry. Resilient demand and greater focus on profitability are enabling the industry to recover higher fuel costs more quickly.” Ed Bastian, CEO, Delta Air Lines Inc.
Telecommunications
“Monetising network quality has been a challenge for the industry. It isn’t new. We saw quality premiums in 4G launch and 5G launch, but over time, those premiums have been traded away.” Max Taylor, CEO, VodafoneThree [Vodafone Group’s UK mobile and broadband business]
Superannuation
“Payday Super was designed to make sure super is paid at the same time as wages…Two months in, the data shows that is happening for millions of workers…When super is paid sooner, it is invested sooner and earns returns for longer.” Mary Delahunty, CEO, Association of Superannuation Funds of Australia
Younger Generation & Trading
“This younger generation are putting keg-fuls of information into a shot glass through all the tools they have, including AI, and making decisions all the time based on various cycles and trends. That’s why we need the ‘everything exchange’, with this kind of attitude that everyone can effectively be a hedge fund.” John O’Loghlen, Managing Director APAC, Coinbase
Capital Markets
“The market decides what risks they want to take.” Anthony Attia, CEO, ASX Ltd
“I was in Europe recently, and the pipeline there is actually quite healthy and even more so in IPOs than we would have thought.” Jamie Dimon, CEO, JPMorgan Chase & Co.
“For the first time in my career, and that’s 50 years of a career, I’m seeing genuine shortages of capital. Governments are running historically large deficits, while at the same time, demand for private capital is rising across the economy.” Larry Fink, CEO, BlackRock, Inc.
Retail
“The 2026 financial year was one of the most challenging years for the retail sector in recent memory.” Stephen Roche, Chair, Baby Bunting Group Ltd
Education & Training
“VET [Vocational Education and Training] enrolments continued to soften in line with broader market conditions.” Market Statement, Edu Holdings Ltd
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Recruitment
“Conditions remain mixed across our markets, meaning we expect volatility and caution to continue as we enter the final quarter [of CY26].” Toby Fowlston, CEO, Robert Walters plc [global recruitment firm]
Commercial Property
“Now the higher rates are definitely going to impact valuations in places like commercial real estate, but that will take some time to really kind of play through those asset classes.” Michael Santomassimo, CFO, Wells Fargo & Co.
Healthcare & Governments
“We’ve also seen governments and health care systems become more cautious in their spending priorities, with some funding and procurement decisions taking longer than what we normally would expect.” Joe Wolk, CFO, Johnson & Johnson
Pharma & Biotech
“In my regular exchanges with a number of key pharma customers, I have not seen any evidence of a fundamental shift in how they view their strategic partnerships with Lonza or outsourcing more generally.” Wolfgang Wienand, CEO, Lonza Group AG [major multinational contract manufacturer]
Restaurants
“Looking ahead to the remainder of 2026, we expect the macro environment to remain an overhang on the consumer through the balance of the year.” Joe Jordan, CEO, Domino’s Pizza, Inc.
AI
“This year alone, we’re seeing the financial benefits from AI and automation significantly outweigh the investments we’ve made year-to-date.” Jane Fraser, CEO, Citigroup Inc.
“If we take a step back to look at the market environment, we see that the pace of the AI build-out continues to be very robust…We are increasingly receiving orders for 2028, and customers are also expressing interest in placing orders for 2029 and even 2030.” Christophe Fouquet, CEO, ASML Holding NV
Mining & Labour Shortages
“We do see people come back to us, but we still are seeing that turnover of people chasing the extra money that’s on offer in some other parts of the region [Western Australia goldfields].” Matt O’Neill, COO, Evolution Mining Ltd
“There is some of the best understanding by investors in the world here in Australia, far better than many other countries around the world.” Gary Nagle, CEO, Glencore plc
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