Lachlan Colquhoun

1 week ago | nbr.co.nz | Lachlan Colquhoun

Profits slide at PwC Australia PwC has become the first Big Four firm in Australia to release fully audited financial accounts. The inaugural annual report was one of the firm's action points to regain trust after the recent scandal. Profits at PwC Australia have dived by 17% in the first results following the conflict of interest scandal which saw the firm dismembered, a new chief brought in from Singapore, and major job cuts.

1 week ago | nbr.co.nz | Lachlan Colquhoun

Aussie telco Optus cops A$100m penalty for gouging customers The telco has agreed that it took advantage of indigenous people in remote areas and people with poor English skills. Optus staff oversold products and services to people even in areas where the company did not provide phone coverage.

1 week ago | nbr.co.nz | Lachlan Colquhoun

Virgin shares too expensive, says Morningstar The pre-IPO airline ‘lacks an economic moat’ and its business could be eroded by more competition. Shares in Virgin will make return to the ASX next week. The pricing of the Virgin Australia initial public offer is too expensive, according to a Morningstar analyst, who said private equity owner Bain Capital was selling its stake “at an opportune time” and that operational conditions could deteriorate.

1 week ago | nbr.co.nz | Lachlan Colquhoun

ANALYSIS: The US is reviewing the Aukus submarine programme just after Australia paid a US$500m down payment. Can the alliance survive ‘America First’ or is this an opportunity for Australia to change direction?

1 week ago | nbr.co.nz | Lachlan Colquhoun

Asic launches inquiry into ASX after settlement failures The announcement is the latest move in the ongoing pressure on the ASX from Australia's markets regulator and Reserve Bank. ASX chair Joe Longo. The Australian Securities and Investments Commission has begun an inquiry into the operations of the ASX, following what it said are “repeated and serious failures” at the stock exchange.