Yesterday
Red Sea call ‘risks telegraphing capability concerns to adversaries’
The government’s reluctance to send a warship to the Red Sea has the potential to flag internal concerns to adversaries over Australia’s naval capability, a former naval warfare officer warns.
- Tom Rabe
One in two want government to cut use of big four firms: survey
Surveys in November and December show that almost one in three people have a negative view of the big four consulting firms.
- Edmund Tadros
Samuel’s big four fix: ban firms consulting to audit clients
Former competition watchdog Graeme Samuel also said ASIC should resume naming and shaming firms with poor audit quality.
- Edmund Tadros
This Month
LinkedIn’s top five jobs for graduates – and how much they pay
Accounting was one of the top five jobs for graduates this year, based on annual growth in hiring activity on the professional networking site LinkedIn.
- Euan Black
- Exclusive
- Retail
Foster Blake sold Go-To stake for $89m. She’s bought it back for a fraction of that
The former Young Rich Lister, along with her co-founder Paul Bates, have taken back control of the skincare brand from the failed BWX Group.
- Carrie LaFrenz
- Analysis
- Australian economy
Why interest rate cuts are in sight
History shows that central banks often begin cutting rates before annual inflation falls back to target. Markets are now pricing in two cuts before the end of 2024.
- John Kehoe
- Exclusive
- Property development
Victoria failing its housing target, property groups warn
Property groups will warn a Victorian housing summit on Thursday that the state government’s ambitious plan to build 80,000 new homes a year is not on track.
- Patrick Durkin
McKinsey, BCG don’t want public to know junior partners earn $700,000+
McKinsey told a Senate inquiry it was “not able to share the remuneration of our individual partners”, while BCG said partner pay was “tied to a global structure in a highly competitive global market”.
- Edmund Tadros
Alvarez & Marsal hires a dozen senior staff in big four raid
The professional services firm wants to expand its Australian business to about 300 staff, and aims for future revenues of up to $500 million.
- Aaron Weinman
KPMG tries to Jedi mind trick away a ‘power map’
KMPG CEO Andrew Yates tries waving his hand across the faces of the Senate, Obi-Wan Kenobi style, denying the existence of secret power maps.
- Mark Di Stefano
KPMG may merge its UK and Swiss accounting arms to boost growth
A vote on the proposed combination could be held as early as next year, amid a fall in demand for services caused by the tougher economic climate.
- Irina Anghel
New RBA assistant governor is outsider Sarah Hunter
Treasury official Sarah Hunter has been appointed chief economist and assistant governor at the Reserve Bank in a further refresh of its leadership team.
- John Kehoe
Boutique consulting firm cuts dozens of staff to face a ‘slow’ 2024
Nous boss Tim Orton says “challenging market conditions” are unlikely to improve.
- Edmund Tadros
Detention row intensifies; Israel travel warning; Beware bitcoin hype
Read everything that’s happened in the news so far today.
Rest of the big four decline to join PwC on political donations ban
EY and Deloitte will continue to donate despite PwC stopping all contributions after its tax leaks scandal, while KPMG is reviewing its stance.
- Edmund Tadros
PwC fined $10.5m over exam cheating by China and Hong Kong staff
US regulator says more than 1000 of firm’s workers cheated on tests designed to familiarise them with US standards.
- Stephen Foley
More reasons to order your Christmas seafood early
Sustained supply chain disruptions and global conflict are set to push up prices for food staples in Australia into 2024.
- Tom McIlroy
November
KPMG UK freezes pay for 12,000 employees amid market downturn
KPMG has frozen the salaries for 12,000 workers across the UK as big four firms continue to grapple with the sharp slowdown in the deals market.
- Adam Mawardi
The lucrative perks employees fail to exploit
Major companies reveal staff neglect to take advantage of these employee benefits.
- Euan Black
China’s troubled shadow bank Zhongzhi warns of insolvency
Zhongzhi Enterprise Group, with debts totalling more than twice its assets, told investors that efforts at a “self-rescue” failed to live up to expectations.
- Bloomberg News
