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Fortescue’s sweeping restructure goes far beyond removing the duplication of back-room functions between its energy and mining arms. A growing number of senior executives are set to depart as the company sweeps out layers of management. 

Meanwhile, staff at Country Road Group are also bracing for job losses as part of a restructure of the embattled retailer, which recently drafted in a consulting firm to repair its corporate culture due to bullying and sexual harassment scandals.

And PwC Australia chief executive Kevin Burrowes risks potential jail time or fines after a Labor senator raised the prospect of referring the career consultant to the privileges committee over allegations he misled parliament about his almost $4m pay packet. 
Perry Williams
Business editor
The markets


Making news this morning
1
Win for small banks as APRA delays liquidity reforms
The prudential regulator has delayed the most controversial liquidity rule change flagged for smaller banks following claims it could boost the dominance of the big four.
2
Office leasing hit by rising lower-grade vacancies
Office vacancies have jumped in Melbourne and lifted in Sydney in a sign markets are still dealing with headwinds such as working from home and weak demand for new towers.
3
Glenmore tops table as leading funds reap strong returns
Leading Australian equity fund managers continue to achieve returns well above their benchmarks, as recent strong performers continue to march up the Mercer investment rankings.
Editor's picks
INSOLVENCY
Creditors of Palmer’s Queensland nickel ‘repaid in full’
Creditors of Queensland Nickel, when it was under the control of Clive Palmer, have been repaid every cent owed capping an eight-year chase by its liquidator to recover more than $300m.
By GLEN NORRIS, VANESSA MARSH
MARGIN CALL
Keffiyeh a case of disorderly conduct
NSW Young Lawyers secretary Seth Harlen was in court with others to be welcomed to the profession but his activist stunt may make that welcome short lived.
By YONI BASHAN
Commentary
Gas imports to ease the energy crisis could arrive sooner
By ERIC JOHNSTON
Associate Editor
The hand-picked boss of billionaire Andrew Forrest’s Squadron Energy will have his work cut out bringing down energy prices.
Why Taiwan considers Aussie wine a taste of freedom
By GLENDA KORPORAAL
Senior writer
Taiwan’s Ministry of Foreign Affairs likes serving Australian wine to visitors because it’s a reminder of the tariffs imposed on trading partners by its belligerent neighbour, Chin...
Dataroom
→ Talk mounts of Southern Cross Media, Ten deal
Southern Cross Media could be at the negotiating table with Paramount Global.
→ Wilting Lynch Group next to face buyout?
First it was Laser Clinics Australia, then APM – could Lynch Group be the next firm that floated in the market boom two years ago to be put out of its misery after poor trading performance?
→ Direct Capital in talks to buy Fisher Funds
The New Zealand private equity firm said to be in talks to buy Kiwi wealth management business Fisher Funds has been revealed to be Direct Capital.
 
 
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