Good morning,PWC Australia's new boss, Kevin Burrowes, takes over the top job on July 17 but has already announced a major restructure of the troubled accounting firm , revealed in an email to partners on Tuesday afternoon. Senior legal experts Meredith Beattie and Tony O’Malley are set to exit the firm as part of the overhaul. There will also be a rejuvenation of PwC's 12-person executive board, which will result in the exit of seven members, who will still stay with the firm. Acting CEO Kristin Stubbins, who will remain on the board, will take up a new role as strategy and transformation leader. Meanwhile, rail networks on the east coast could be thrown into chaos this week as a pay dispute between unions and the Australian Rail Track Corporation blows up. This could threaten coal deliveries to power stations and export markets, and disrupt passenger and freight movements. The federal government-owned ARTC will head into an emergency Fair Work Commission hearing on Wednesday morning to seek orders cancelling the protected action by members of NSW branches of the Rail Tram and Bus Union, the Electrical Trades Union and the Australian Services Union, due to begin early on Thursday morning. And Federal Energy Minister Chris Bowen is due to release the full text of the mandatory code of conduct governing the country’s gas industry within days, a document that will go a long way to determining whether several new developments materialise. Australia’s east coast gas market is facing a material shortfall in the next few years as traditional supplies run dry and proposed new developments struggle to secure regulatory and social licences. Senex Energy earlier this year suspended its proposed $1bn Atlas project in Queensland and said it will not proceed until it has seen the full text of the code. |