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The Latest Breaking News from PwC

Afternoon Update: Record increase in net migration; PwC won’t share tax leaks report; and the hot cross buns taste test

Australia’s population grew to 26.8 million in September thanks to a larger than expected rate of immigration

The Guardian - AU

PwC chairman refuses to share tax leaks scandal investigation with Australian parliament

Firm cites legal professional privilege after request for copy of report but provides more detail about scope of investigation

The Guardian - AU

Liberal senator demands PwC executives ‘bare their necks’ at inquiry into consultancies

Richard Colbeck says PwC International must clarify reports it took control of Australian firm after tax leaks scandal

The Guardian - AU

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Nearly 5,000 UK chain stores closed last year at rate of 14 a day

Pharmacies, banks and pubs retreat from town and city centres knocked by failure of Wilko last year

The Guardian - UK

Pwc Australia Cuts 300-Plus Jobs After Tax Plan Scandal

PwC Australia cuts 300 jobs post tax plan scandal, emphasizing transparency and long-term success. Importance of ethical standards in business highlighted.

Top News

Hundreds of jobs axed with PwC to 'simplify' business

Big Four consultant PwC has made hundreds of jobs redundant and accelerated the retirements of more than 30 partners in an effort to streamline its structures.

AAP

Interim PwC boss 'disappointed' to leave mid-crisis

The former acting head of PwC says she'd wanted to lead the company after a tax leak scandal, but wasn't surprised an international recruit was brought in.

AAP

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PwC is turning to AI to help its clients do their taxes

Collaboration between OpenAI, Harvey, and PwC has delivered an AI-powered tax assistant for UK tax professionals.

TechRadar

‘Deadly serious’: Australian regulators criticise PwC refusal to hand over report into tax leaks

Consultancy’s global executive says report suggests there’s no evidence confidential information was used for commercial gain

The Guardian - AU

PwC executives accused of 'thumbing nose at parliament'

The head of embattled consulting firm PwC has come under fire for not providing details of a key report into the organisation's conduct.

AAP

Godfreys enters administration, with 54 stores to close

Voluntary administrators expect 171 Godfreys staff in Australia will be made redundant as the company's store count is reduced by more than a third.

AAP

Go In To The Office Or AI Will Replace You, Says PwC's UK Boss

Kevin Ellis said as AI is poised to take on routine tasks traditionally given to younger workers, junior staff should seek promotions by regularly working in the office.

International Business Times UK

Close to Half of CEOs Fear That Their Firms Won't Survive Without Major Overhauls Within the Next Decade

The fast development of AI and the increasing threat of climate change are the main challenges companies are facing, according to PwC's latest CEOs survey

Latin Times

More CEOs fear their companies won't survive 10 years as AI and climate challenges grow, survey says

More executives are feeling better about the global economy

The Independent UK

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The Guardian - UK

Geopolitical tensions and AI dominate start of World Economic Forum

Ukraine, Middle East and Taiwan overshadow annual meeting at Davos, with artificial intelligence also high on agenda

InsideEVs

We Will Finally See Scout's New EV This Summer

Today on Critical Materials: Scout will debut at least one of its upcoming EVs this summer, Rimac will unveil its robotaxi concept in early 2024, and EVs are causing production delays.

The Guardian - UK

UK dealmaking shrinks in 2023, but economy predicted to ‘turn corner’ in 2024 – as it happened

PwC predicts inflation will fall near ‘normal levels’ in 2024, but corporate insolvencies are forecast to jump

Motor1

More Than Half Of New Vehicle Launches Since 2020 Have Been Delayed

EVs, advanced driver assistance systems, and new software are leading culprits for the setbacks.

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The Guardian - UK

Jim Ratcliffe could cut 300 jobs at Manchester United in streamlining

Sir Jim Ratcliffe is expected to ask an external auditor to assess Manchester United’s structure and expenditure with as many as 300 jobs potentially under threat

The National (Scotland)

Experts find Scotland outperforms UK with green job opportunities in financial sector

SCOTLAND has the highest proportion of green financial job openings in the UK, according to a new report.

The Guardian - UK

Margaret Hodge urges PwC to show it is not using global structure to aid illicit financial flows

Labour MP makes call after branches’ role highlighted in Cyprus Confidential and other investigations

Evening Standard

Top tech unicorns lost $10 billion in value in 2023

The valuation of the top 100 tech unicorns fell by $10 billion in 2023, a new report has found, as worsening economic conditions led to fewer funding rounds and depressed valuations.

Fortune

Transparency isn't the only condition leaders need to build trust

For executive teams, privacy can be just as important as openness.

Fortune

The commercial real estate market will get better for investors who are ‘willing to take the long view,’ PwC says

Interest rates, cost of capital, and capital availability will be most important commercial real estate issues in 2024

StockNews.com

Are These 3 Software Stocks Solid Buys for 2024?

The software industry stands on the brink of significant growth, fueled by digitization and continuous technological evolution. Given this landscape, should you buy software stocks Pegasystems (PEGA), Palantir Technologies (PLTR), and ePlus (PLUS) for 2024? Let’s find out….

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