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PwC Australia flags revenue hole, partner profit cut due to tax scandal legacy

PwC Australia on Friday said the spin-off of its government consulting business and other costs from a tax scandal will leave a double-digit revenue hole and require partners take an income haircut. The "big four" accounting firm reported revenue of A$3.4 billion ($2.21 billion) for the year ended June, up 11% on the previous year. PwC Australia agreed in June to sell its lucrative government practice to private equity firm Allegro Funds for A$1 as public sector departments froze tie...
New South Wales Christopher Cushing Kevin Burrowes Lewis Jackson Allegro Funds Scyne Advisory
Source: yahoo.com

Oil set to snap two-week losing streak on tightening supplies

SINGAPORE (Reuters) -Oil prices were set to snap a two-week losing streak as they rose for a fourth consecutive session on Friday due to tightening supplies and expectations of the OPEC+ group of oil producers extending output cuts to the end of the year. Analysts expect Saudi Arabia to extend a voluntary oil production cut of 1 million barrels a day into October, adding to cuts by the Organization Petroleum Exporting Countries and allies, known as OPEC+. "We continue to expect cuts to be...
United States Saudi Arabia Sudarshan Varadhan Christopher Cushing National Australia Bank Organization Petroleum Exporting Countries
Source: yahoo.com

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