"There's not a day when I don't think how privileged I am," Mr Larocca told the committee. And I'm not here to compare my income with the prime minister's, with a premier, with a government secretary, with any of our clients. "So you're earning five times the value of the prime minister, does that seem like a fair recompense?" Ms O'Neill asked. "The practices that triggered the establishment of this inquiry are not the way we do business."īut senators concentrated on the pay of EY partners.ĮY Oceania boss David Larocca was forced by Labor senator Deborah O'Neill to justify his $2.8 million salary. The gang has stolen data from more than 120 companies including Rio Tinto, Crown Resorts, and Siemens Energy.Ĭonsulting firm EY was in the hot seat today at the Senate inquiry into consulting firms, which was sparked by the PwC tax scandal.ĮY's chief executive for Oceania David Larocca told the committee that PwC's actions were "deeply disturbing and disappointing conduct." Russian ransomeware gang Cl0p released the personal data of some Rio Tinto staff on the dark web in April "We notified the Australian Cyber Security Centre of the incident, and our internal investigation and remediation actions are now complete." "Importantly, our investigations showed that this information was not confidential in nature. "Despite these efforts, Fortescue was subject to a low impact cyber incident on which resulted in the disclosure of a small portion of data from our networks. "We take the protection of our employees’ personal information seriously and we have strong measures in place to safeguard our business from potential cyber threats. It produced 15,000 tonnes of graphite over the June quarter, significantly lower than the 44,000 tonnes a year ago.įortescue Metals has been hit by a cyber attack which is being claimed by a Russian ransomware gang.įortescue says it suffered a low-impact cyber incident in late May which did not involve confidential information. Graphite producer Syrah Resources (-16.3 per cent) is waiting for prices to pick up in China before it restarts production at its Mozambique operations. It warned the move would temporarily lower profit. Rubber glove and personal protective equipment maker Ansell (-14 per cent) shares slumped after it reported it would temporarily slow production to reduce high levels of inventory and cut manufacturing jobs to improve cash flow. The real estate sector was dragged down by property developer Lend Lease (-4.9 per cent) after it announced it planned to cut 10 per cent of its workforce. The financial sector did the best on the prospect of higher interest rates, with National Australia Bank (+2 per cent) doing the best of the big four banks. Real estate, energy stocks, and consumer firms weighed on the market after the Reserve Bank indicated it could raise interest rates again to curb inflation. The ASX 200 index lost 0.2 per cent with most sectors ending lower. The Australian share market has ended the day in the red, but came off its low point.
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