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- ☕️ Davos Disclosures
☕️ Davos Disclosures
PWC UK chairman wants juniors back in the office.
Chair of PWC UK, Kevin Ellis, said that junior staff need to spend more time in the office to secure promotions quickly, as generative AI is eating up tasks that juniors have historically “cut their teeth on”.
“If you’re asking me my opinion on how you succeed in your career,” Ellis stated, “I’d be in the office four to five days a week.”
Ellis made the comments on the first day of the World Economic Forum in Davos, presumably working remotely.
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Qantas shares fell more than 4% on Monday to $5.17, following news that the airline is embroiled in another legal dispute with its workforce. The AFR reports that aircraft engineers in the US accuse Qantas of underpaying them up to $14.9m. The lawsuit comes shortly after the High Court of Australia’s decision to uphold two rulings that Qantas fired workers illegally during the pandemic.
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The quick sync
Neobanks Judo and Alex are leading a counter attack against the ‘big four’ banks’ dominance in consumer and SME banking. (Capital Brief)
Iowa Republicans begin voting for their presidential nominee, with Nikki Haley and Ron DeSantis competing for second place. (Wall Street Journal)
ANZ says its new security systems show a handful of Australian banks are becoming the “bank of choice” for scammers. (The Australian)
Boston Consulting Group says banks could boost their valuations by a combined $10.5 trillion in the next five years by investing in productivity and growth. (Reuters)
The government’s proposed changes to the ‘sophisticated investor’ status could have a ‘chilling effect’ on the Australian startup landscape. (Capital Brief)
German output contracts 0.3% in 2023, making it one of the worst performing major economies in the world. (Financial Times)
Whitehaven could face a funding squeeze later in the year should coal prices slide or poor weather hamper productivity at mines. (Capital Brief)
Thomson Reuters is courting generative AI firms in efforts to license its content. (Bloomberg)
The ACCC is considering legal action against a large supermarket chain for potentially breaching consumer law tied to its use of ‘was, now’ pricing. (AFR)
Pilbara Minerals expands offtake agreement with China's Ganfeng, increasing supply of spodumene concentrate to a major customer. (Capital Brief)
Arriba Group explores M&A options and seeks advisory pitches. (AFR)
Crimson Education explores minority partners to join its NZ$1b valuation. (AFR)
Biome Australia enters its first retail distribution agreement in the UK and Ireland as part of its broader expansion into Europe, following two years of direct sales to health practitioners in the UK. (BNA)
SQM's Australian arm will partner with Novo Resources after the former paid $10b for a 75% stake in five of Novo’s lithium-nickel tenements in WA's West Pilbara. (SMH)
Private capital investors are reportedly sniffing around Anglo American’s QLD coal mines as its share price continues to fall. (AFR)
Super Retail Group anticipates record profit, exceeding $2b revenue for H1 FY24, buoyed by strong sales performance during Black Friday and Christmas. (BNA)
King & Wood Mallesons is set to lead a $3b refinancing for WICET coal port. (AFR)
Westgold Resources has achieved positive cash flow for the fourth consecutive quarter, increasing its cash, bullion, and liquid assets by $21m. (SMH)
Qube Holdings has welcomed former Incitec Pivot CEO, James Fazzino, to its board of directors. (Capital Brief)
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