1. Harper's Bazaar magazine returns to Switzer down under!

Hearst Magazines International is relaunching Harper’s Bazaar magazine and website in partnership with a Sydney and Melbourne-based diversified media company, Switzer Media & Publishing. Yes, that’s a Switzer company but because we’re very proud to be associated with this 154-year-old brand, we felt we needed to announce this here on Switzer Daily! The first issue will be a collectors’ edition, due to be released in September. Maureen Jordan, will lead sales, marketing and brand strategy, and also the search for a number of key creative positions, including editor in chief. 

Harper’s Bazaar Australia was first published in 1998 and ran for nearly two decades before a lack of advertising revenue caused Bauer Media Australia to pull the plug on eight key brands last year, citing COVID-19 as the cause. The closures were mourned across the media landscape.

“To be appointed publisher of this 154-year-old iconic fashion bible is a great honour,” said  Maureen Jordan. “BAZAAR has been missed by its loyal following in Australia in recent times and not only are we excited about its relaunch, we are passionate about collaborating with  Hearst Magazines as we understand and redefine our readers’ expectations.” 

“This alliance, headed by Maureen Jordan, underscores our desire and commitment to return this venerable brand to new heights of acclaim,” added Kim St. Clair Bodden, senior vice president, editorial and brand director of Hearst Magazines International.

2. When will APRA stop the house price boom?

The country’s top price watcher CoreLogic says housing markets across the country continued to surge in May, with national home values climbing another 2.2% in the month. And the AFR’s Karen Maley wonders when the Australian Prudential Regulation Authority (APRA) will stop the music powering this property party by telling borrowers to back off. The national price rise over the year has been 9.4%, but Melbourne rose by only 5%, Sydney 11.2% and Darwin 20.3%! Interestingly Maley says “APRA boss Wayne Byres has stuck to the line that the prudential regulator’s job is to safeguard financial stability, and not to keep a lid on house prices,” and banks are apparently behaving and not lending madly.

3. What politician will fight the hackers?

At least seven Australian firms are among dozens of companies that were infected with the same ransomware that last week closed down the huge meat processor JBS. The Australian wouldn’t name those companies but underlined how the threat to businesses databases from hackers/criminals is escalating. And if businesses are threatened, so are their customers. So a good question is: do we have an Australian politician who’s fighting these criminals? None comes to mind, as we’re forced to hand over our personal and financial details to a cyber world that can’t be trusted!

4. Tie that kangaroo down, sport!

The SMH has revealed that the “NSW government secretly offered $50 million in taxpayer funds to Qantas to head off a bidding war with rival states to keep the airline’s global headquarters in Sydney”.

The Federal Government saw Qantas’s suggestion that it might have to move headquarters to another state as a ploy that Canberra tagged “corporate welfare”. And it looked like it worked, with the NSW Treasurer Dominic Perrottet linking a deal to keep the flying kangaroo in his state. Taxpayers mightn’t like it but Qantas shareholders should!

5. Market update

The S&P/ASX 200 fell by 0.19% yesterday to 7,281.90. In the US overnight, the Dow Jones was down 0.36% to 34,630.24, the S&P 500 was slightly down at -0.080% to 4,226.52 and the Nasdaq gained 0.49% to 13,881.72.