The sale of New South Wales' and Queensland's utility assets will be among the most eagerly anticipated power deals globally in 2015, according to a PwC report released today.

Australia must focus on transitioning out of the mining economy or face falling out of the G20.

If we continue to ignore the rising economic success of our Asian neighbours we will lose our place as a G20 economy by 2030.

On Friday 28 February at 4.30am Sydney time, PwC will host its second global forum to students around the world.

The Federal Government's decision to be a part of the Asian Infrastructure Investment Bank is a bold move which encourages long term investment in a growing region which will benefit Australia.

The key to Japan's economic future lies in growing it's engagement with the countries on its doorstep, according to a PwC report released today.

Early reports of what is in next Tuesday’s Federal Budget indicate “more carrot and less stick” to help lift productivity and tighten the fiscal gap.

The pace and scale of disruption in the power and utilities sector is happening faster than expected.

Young leaders from Australia and China are working together to provide creative solutions to issues facing both countries as part of the China Australia Millennial Project (CAMP).

The needs of all Australians - affordable housing, a secure job, a decent education for their children, a good health system and a comfortable retirement - will not be met if we don't achieve major tax reform.

The global mining industry's fight for value and free cash flow has descended into a brawl, after 2014 saw the world's 40 largest miners ramp up production, slash capital spending, and rein in costs.

The Abbott Government's tough negotiations in an effort to seal an Indian Free Trade Agreement (FTA) next year should see 70 per cent of Australia's two-way trade covered by a free trade agreement.

PwC Australia has appointed David Smorgon OAM as the Executive Chairman of its Family, Business & Wealth practice in Private Clients.

Unique granular modelling of over 2,000 locations across Australia uncover how fragmented and concentrated our economy is.

PwC today announced their new partners from 1 July 2015. A total of 64 individuals will be admitted to the partnership across all of the firm's businesses and most of its geographies.

Australia jumped five places to 15th in OECD rankings for employment of mature age workers.

Two young Australian innovators are ready to take their ventures to the next level after sharing in $20,000 in seed funding from PwC during a live pitching event held by the Foundation for Young Australians.

PwC Australia today announced its full year results to 30 June 2015 with revenue growth of 10.1% to $1.73b, supported by another year of strong profit growth.

The eyesight of more than 32,000 Aboriginal and Torres Strait Islander people would be saved if the Government invested just $227 million over 10 years, a new report has found.

A new PwC survey has found that 70 per cent of major Australian companies are planning to enter new joint ventures or strategic alliances to drive growth from the Chinese market.

Regulation, compliance, and price pressure are slowing access to potentially life-saving new medicines, and undermining industry confidence in the current listing process.

Australia will need to nearly double its historic rate of decarbonisation, if it is to meet its goal of a 26 percent decrease in carbon emissions.

The economic impact of obesity will reach $87.7 billion and affect one-third of Australians by 2025 based on current trends and without further intervention.

Australia lags behind the world's best corporate performers in all ten indicators of digital intelligence needed to drive financial performance.

PwC partner and financial services leader Julie Coates said the Federal Government's response to the Financial System Inquiry Report was encouraging.

The number of detected cyber security incidents in Australia was the highest worldwide in the last 12 months with an increase of 109 percent, compared to a 38.5 percent increase globally.

With record low margins and stubborn expense to income ratios, the major banks must quickly seize the opportunity of the technology revolution or fail to keep pace with expectations.

PwC Australia is pleased to announce it was selected by The Workplace Gender Equality Agency WGEA as one of 90 organisations in Australia as an Employer of Choice in 2015.

In Aussie Mine - Going for Gold, we find that companies holding quality gold assets were the shining lights of 2015 with revenues up by 11% and share of mid-tier revenues growing by 5%.

Violence against women and their children is costing Australia $21.7 billion each year, with Governments carrying more than a third of the cost burden; as shown in the report A high price to pay: the economic case for preventing violence against women.

If the company tax rate was reduced from 30 to 25 per cent over the next five years gross domestic product (GDP) would grow $291 billion and income tax revenues would generate $4 billion up to the year 2025, PwC modelling released today shows.

Thirty-five of the ASX 200 companies saw a turnover in Chief Executive Officer (CEO) in 2014, almost 35 percent more than the global average, including 8 unplanned succession events which cost $8 billion in foregone shareholder value

Australian CEOs are less confident about their companies' growth prospects than a year ago, and less optimistic about growth in the global economy, according to a PwC report released today.

2016 could be the high-water mark for Australian power and renewables deals following a strong year for transactions in 2015, according to PwC's energy, utilities and mining leader Mark Coughlin.

PwC has been appointed as a Skills Service Organisation by the Federal Department of Education and Training to work with Industry Reference Committees to develop modern and relevant training packages.

Chairman of the Board of Partners of PwC Australia, Michael Happell, has announced that Luke Sayers will continue as Chief Executive Officer of the Australian firm for a further four years.

PwC today announced it was collaborating with a range of Australasian startups and emerging technology companies to deliver a purpose-built cloud platform that brings together some of the leading cloud solutions in the market today, all in one place.

A standalone plebiscite with a compulsory vote on marriage equality could cost the Australian economy $525 million according to modelling released by PwC Australia today.

Australia's next generation of family business leaders is more confident and better prepared for senior roles than two years ago, but is also experiencing more challenges, both inside the firm and in the wider business landscape.

PwC and NAB have teamed up to help self-employed and microbusiness customers operating in an emerging more flexible economy to manage their GST requirements.

Every year Australia spends more than half a trillion dollars on social purpose goods and services directed at health, welfare and education, almost one third of the nation's GDP.

The emerging global market for business services using drone technology is valued at over US$127 billion with the drone revolution disrupting industries ranging from agriculture to filmmaking.

PwC Australia has recruited former CEO and Managing Director of David Jones Limited, Paul Zahra as Global Retail Advisor to add fuel to its growing retail and consumer practice.

Microsoft has now opened registration for the virtual edition of its online-only Build 2020 developer conference, which will take place from May 19 to 20. Typically, the event draws more than 6,000 developers, but because of the coronavirus pandemic, that’s obviously not an option. In contrast to Google, which completely scrapped its I/O developer conference […]

Orca Security, an Israeli cloud security firm that focuses on giving enterprises better visibility into their multi-cloud deployments on AWS, Azure and GCP, today announced that it has raised a $20 million Series A round led by GGV Capital. YL Ventures and Silicon Valley CISO Investments also participated in this round. Together with its seed […]

In the April 2020 update of its Short-Term Energy Outlook (STEO), released on April 7, and before a recently announced agreement by oil producing countries to limit production, the U.S. Energy Information Administration (EIA) forecasts that U.S. crude oil production will average 11.8 million barrels per day (b/d) in 2020, a 4% decline from the 2019 production levels. Crude oil production will average 11.0 million b/d in 2021, a 6% decline from 2020 (Figure 1). If realized, the STEO 2020 production decline would mark the first annual decrease since 2016. The majority of the forecasted production decline occurs between the first and fourth quarters of 2020, dropping from 12.7 million b/d to 11 million b/d (13%) and remaining around that level through 2021. The forecast did not incorporate the April 12 joint announcement by the Organization of the Petroleum Exporting Countries (OPEC) and several other non-OPEC countries to reduce crude oil production. These production reductions may significantly affect global balances and could provide upward price pressure that would affect U.S. crude oil drilling and production. ...

On Monday, April 20, 2020, New York Mercantile Exchange (NYMEX) West Texas Intermediate (WTI) crude oil front-month futures prices fell below zero dollars per barrel (b)—at one point, trading at -$40.32/b (Figure 1)—and remained below zero for part of the following trading day. Monday marked the first time the price for the WTI futures contract fell below zero since trading began in 1983. Negative prices in commodity markets are very rare, but when they occur they typically indicate high transactions costs and significant infrastructure constraints. In this case, the WTI front-month futures contract was for May 2020 delivery, and the contract was set to expire on April 21, 2020. Unless they have made other arrangements ahead of time, market participants that hold WTI futures contracts to expiration must take physical delivery of WTI crude oil in Cushing, Oklahoma. Typically, most market participants close any futures contracts ahead of expiration through cash settlement in order to avoid taking physical delivery, and only about 1% of contracts are physically settled. The extreme market events of April 20 and April 21 were driven by several factors, including the inability of contract holders to find other market participants to sell the futures contracts. In addition, in this case, the scarcity of available crude oil storage meant several market participants sold their futures contracts at negative prices, in effect paying a counterparty to close out of the contracts. ...

Transportation fuel demand in the United States has decreased since mid-March 2020, as a result of reduced economic activity and stay-at-home orders aimed at slowing the spread of the 2019 novel coronavirus disease (COVID-19). With low demand and a decrease in profitability, as measured by crack spreads, U.S. refineries have reduced gross inputs (runs), which dropped to 12.8 million barrels per day (b/d) for the week ending April 17, 3.8 million b/d lower than the previous five-year (2015–19) average and the lowest level since 2008 (Figure 1). Gross inputs increased slightly to 13.2 million b/d the week of April 24. ...

On April 27, 2020, the U.S. average regular retail gasoline price was $1.77 per gallon (gal), the lowest price since February 2016. On May 4, the U.S. average gasoline price increased slightly to $1.79/gal. The United States declared a national emergency on March 13 in response to concerns regarding spread of the 2019 novel coronavirus disease (COVID-19). From March 16 to May 4, the U.S. average regular retail gasoline price fell by $0.46/gal. The lower gasoline prices reflect low crude oil prices, low gasoline demand, and rising gasoline inventories. ...