- Updated
- PwC tax scandal
Labor cracks down after PwC scandal
The government revealed the biggest crackdown on tax adviser misconduct in history in response to the PwC tax leaks scandal.
Sharemarket rally braces for earnings season test
Corporate profits are expected to bottom in the second half of this year as the Australian economy experiences the full brunt of the RBA’s rate rises.
KPMG accused of inflating Defence invoices, billing for hours never worked
The claims come just weeks after the new National Anti-Corruption Commissioner said he expected consultants to the Commonwealth to ‘attract considerable interest from the commission’.
Juukan Gorge traditional owners ‘angered’ over WA heritage backdown
Juukan Gorge traditional owners expressed anger at reports WA’s cultural heritage laws will be scrapped, but the Yes campaign sees it as helpful.
- Analysis
- Due diligence
Will the lithium price rout kill the next wave of Australian mines?
Lithium-rich spodumene concentrate prices would need to more than halve to jeopardise the next wave of ASX-listed miners’ lithium projects.
Cash mountain coming to Diggers ‘n’ Dealers summit
Huge cash holdings in the exploration sector mean there’ll be plenty of drinks shouted in Kalgoorlie this week. But experts say the good times are cooling - a bit.
Sydney clearance rate dips to five-month low as market softens
Sydney’s auction clearance rate has dipped below 70 per cent as wary buyers hold fire, in a sign of a softening market.
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Companies
Domino’s: is it time to reorder fallen pizza maker?
The one-time market darling has crashed back to earth and still has analysts split over its prospects.
Albert family office gets loud in push for gender equality
The family behind AC/DC’s music label has spent years trying to stay under the radar. Now, they are using their name and capital to publicly champion gender equality.
Top PAC Capital fund manager lasts three weeks
Star hire Sunny Bangia said he was now ‘self-employed’ after the Financial Review raised questions about the computer game-specialist asset manager.
Qantas set to outline fleet renewal plan at profit update
The airline is expected to provide more details on arrangements to replace its ageing A330s when it reports this month, but it will need to wait in a long line for new planes.
Cash mountain coming to Diggers ‘n’ Dealers summit
Huge cash holdings in the exploration sector mean there’ll be plenty of drinks shouted in Kalgoorlie this week. But experts say the good times are cooling - a bit.
Gold mining boss says sector lost its way, more M&A coming
Genesis Minerals managing director Raleigh Finlayson expects a round of consolidation in the gold sector to intensify.
Aussie film sector doubles to $4.5b, but Hollywood strike impact looms
New data from an ABS survey of the TV and film production industry shows its revenue has doubled – but costs have risen more.
Companies in the News
Search companies
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Markets
Investors brace for US inflation, profit wave
Shares are set to open lower ahead of the first full week of reporting season, as traders eye crucial inflation data in the US and China.
How bonds ate the entire financial system
If the global economy is a machine, and credit its fuel, then banks and the bond market are its twin engines. But we have done nothing to reinforce the bond market, and that could be a bigger problem than anyone wants to admit.
- Opinion
- Sharemarket
Have growth stocks like WiseTech become too expensive?
Reporting season is always an interesting time for stock pickers, but this year is particularly exciting because news flow has been dominated by inflation, writes Kelli Meagher.
UBS set to shake up investment banking management: Reuters
The management changes will reportedly take place as soon as Monday, with several senior bankers in talks to leave.
Apple drags Wall Street lower
The iPhone maker slid 4.8pc. US 10-year yield drops to 4.04pc. Oil tops $US86/barrel. Bitcoin edges below $US29,000.
Opinion
An off-ramp from the PwC pile-on
Engaging with a relatively transparent Treasury review in good faith is the way forward for the big four to restore the public trust and confidence eroded by PwC’s failures.
Editorial
Albanese struggles to find his own voice
What the PM needed on the weekend was the equivalent of Paul Keating’s Redfern Park speech. At Garma, however, he was preaching to the converted.
International Editor
Australia might have a recession in name only
Even if a technical recession were to arrive in the second half of 2023, it would be debatable whether it was an actual recession, especially if the unemployment rate rose only modestly.
Economist
Why good fund managers fail
WCM has studied corporate culture for 18 years. If there’s one industry where culture matters most, it’s funds management, writes Jonathan Shapiro.
Senior reporter
How to get the energy transition back on track
Current trends will mean missing our 2030 emissions targets, risking electricity reliability and failing to deliver the federal government’s promise of cheaper power. Change is urgently required on all three fronts.
Energy expert
It’s time to crash or crash through, says the PM
The Coalition wants to defeat the Voice because it wants to inflict a political loss on the prime minister.
Political editor
Politics
No recognition alternative if Voice fails: PM
The prime minister said failure at the referendum would represent a repudiation of any change to the Constitution.
‘We walk beside you’: Remote council shows the way for Voice
A success story of Australia’s Top End, the Yolngu’s traditional governing council has helped Anthony Albanese make the case for Indigenous self-determination.
Lawyers have said enough on Voice: leading silk Bret Walker
Top barrister Bret Walker has decried the “excessive” emphasis on legal concerns about the Indigenous Voice, saying lawyers had too much of a role in the debate.
- Exclusive
- Cyber threat
Don’t ban paying cyber ransoms, ex-US spy chief warns Australia
Former US National Security Agency director and cyber chief Michael Rogers has called for a shift in thinking on cyberattacks.
KPMG accused of inflating Defence invoices, billing for hours never worked
The claims come just weeks after the new National Anti-Corruption Commissioner said he expected consultants to the Commonwealth to ‘attract considerable interest from the commission’.
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World
Philippines accuses China of ‘dangerous’ moves in South China Sea
The Philippines said China’s coast guard used excessive force against one of its vessels in the South China Sea, one of the world’s busiest shipping lanes.
‘Gold bathrooms’: Putin’s $1b super yacht gets refit in Italy
Italy is allowing the unnamed owner of the “Scheherazade” to pay for staff, maintenance and a refit.
Ukraine hits Russian oil tanker as sea battle intensifies
The sea drone struck the tanker in the Kerch Strait, the latest in a series of bold strikes that have ratcheted up the threat of violence in the Black Sea.
‘No bad news’: China’s economists warned to stay positive
Authorities struggling to restore confidence in the post-COVID recovery want analysts to avoid mention of a deflation risk.
Imran Khan starts sentence in Pakistan’s harsh, high-security jail
The verdict is a major turn in a political showdown between the cricket star-turned-politician and Pakistan’s powerful military that has embroiled the country.
Property
Rich Lister landlord’s secret to 95pc office occupancy
Shaun Bonétt, whose three office buildings are nearly full, says too many building owners have not grappled with a “cultural shift” transforming the white-collar workforce.
Sydney clearance rate dips to five-month low as market softens
Sydney’s auction clearance rate has dipped below 70 per cent as wary buyers hold fire, in a sign of a softening market.
Corporate buyers ramp up agricultural land spending as farmers retreat
Veteran rural agents and valuers are in agreement that corporate buyers are expanding whilst many farmers press pause on expansion activities.
Huge Sydney site seized in money laundering raids hits the market
The rural site that Country Garden paid $91 million for in 2017, and then sold for just $41 million in 2021, was seized by the Australian Federal Police in February.
Mortgage refinance numbers keep breaking records from rates crunch
The volume of refinancing activity rose by 13.8 per cent nationally, with the rate of increase being almost 30 per cent in WA.
Wealth
- Opinion
- SMSFs
How super could buy you a $14m super boat
One of the most expensive boats at the Sydney International Boat Show, the Nomad 101, is being marketed to self-managed superannuation funds.
How to get a subsidised 3.95pc loan (conditions apply)
Super-low loans offer retirees a cash top-up and a way to tap into their home equity.
Is inflation threatening your net worth? Here’s how to beat it
The key to wealth protection and generation is staying ahead of inflation as radical central bank policies challenge investors on optimal asset allocation.
Technology
- Exclusive
- Cyber threat
Don’t ban paying cyber ransoms, ex-US spy chief warns Australia
Former US National Security Agency director and cyber chief Michael Rogers has called for a shift in thinking on cyberattacks.
When you click on Google search results, scammers may steal your money
The web giant says it removes millions of bogus ads every year, but it’s still easy for nefarious actors to appear at the top of its recommendations.
US backs Sydney fusion start-up’s nuclear ambitions
HB11 Energy will get cash and access to massive lasers to help it build a nuclear fusion system it says will be capable of clean, near-limitless electricity generation.
Work & Careers
How these BOSS Young Executives went on to become top dog
These former young leaders became CEOs or set up their own businesses after winning the award. Here’s their advice for the next cohort coming through.
Why so few women with a STEM degree work in a STEM job
Women are reluctant to enter STEM degrees. Is it any wonder when just 16 per cent end up working in jobs that require a STEM degree?
Life & Luxury
What this ex-Macquarie Matilda learnt about business from soccer
As a young professional player Clare Wheeler juggled 5am training starts with a day job at financial services giant Macquarie, including skipping out of drills to jump onto work calls.
Tenor at your dinner? Opera Australia opens for business
The country’s largest performing arts company hopes to entice more corporate support with special access to its performers.
Square Peg co-founder Paul Bassat reveals his top three VC tips
The venture capitalist and tech founder has been up to his elbows in Australian business since the early 1990s, but admits he lacks one key VC skill.
Reality bites as fashion companies use AI to sell clothes
As digital technology edges closer to reality and AI becomes smarter, fashion businesses are using tech to drastically reduce costs.
Hong Kong’s oh-so-1980s Regent hotel is back, with spectacular views
This iconic brand is finally back in Honkers, in its original building, which has undergone an extensive transformation.
