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The Australian Business Review
 

Good morning,

A year into his reign, PwC Australia CEO Kevin Burrowes is bracing for impact , as the career consultant awaits the outcome of police investigations, regulatory probes, parliamentary reports and a firm on edge.

Meanwhile, shopping giant Super Retail Group is still yet to receive any legal notification of a workplace lawsuit threatened by lawyers for aggrieved executives almost two months ago, raising hopes within the company the lawsuit won’t stack up, is frivolous and could have even been abandoned.

And ANZ has become the first of the big four banks in Australia to rule out the prospect that the Reserve Bank will offer any mortgage relief to households feeling the pinch this year.
Perry Williams
Business editor
The markets


Making news this morning
1
Desperate capital raise by winemaker
Australian Vintage has resorted to a dilutive capital raising as sales flatline and debts grow amid boardroom chaos that will now see its long-serving chairman exit.
2
Industry, retail super funds clash on advice reforms
Industry funds say reforms will better protect consumers but retail funds and advisers are concerned about the expected red tape and legal risks.
3
Southern Cross and Mawson to unwind spin-out
What happens when you spin out assets that turn out better than the ones you kept? In a bizarre twist, Southern Cross Gold and Mawson Gold plan a reverse spin-out.
Editor's picks
MUSK’S APPLE FIGHT
Hey Siri, what’s Elon’s problem?
Apple’s deal to partner with ChatGPT AI has the world’s richest man Elon Musk threatening to ban all Apple devices at his company. So what does it mean for iPhone users?
By JOSEPH LAM
MARGIN CALL
Burrowes digs his way out of director duties
PwC chief Kevin Burrowes has resigned from all local corporate entities of the firm, raising the obvious question: Why?
By CHRISTINE LACY
AVIATION
Bonza workers sacked after no offers made
Bonza’s administrators have sacked employees and cancelled future flights despite ongoing talks with ‘interested parties’.
By ROBYN IRONSIDE
Commentary
The devil in the economic data detail
By SALLY AULD
Contributor
Investors and economists have been spoilt this past week thanks to a packed calendar of economic data. But what does it all mean?
State budgets: ugly to ultra-ugly
By TERRY MCCRANN
Business commentator
Queenslanders should take the money and run – straight to the ballot box in October, to throw out the incumbent Miles-Dick government.
Dataroom
→ Equity capital markets showing signs of a revival
Mergers and acquisitions in the first three months of the year were more frequent, but the latest investment banking data shows that the equity capital market is making a comeback.
→ ‘Melting icebergs’ like Nine Entertainment search for direction
Nine Entertainment left the list of top 100 stocks in Australia last week. Will it ever make a comeback?
→ QBE purchase of Beazley an investor quandary
Plenty of bankers hope that QBE will buy Beazley Insurance but there are also those asking why it would make a major acquisition when everything is going well.
 
 
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