The Big Four’s problems Down Under

Greek shipping companies have generated at least $3.8 billion transporting Russian oil over the past three years, navigating G7 price caps while facing increased pressure from the U.S. and EU to tighten sanctions. In Turkey, President Recep Tayyip Erdoğan is leveraging the country's military strength and defense industry during the NATO summit to seek closer ties with Europe, though persistent concerns regarding democratic backsliding and the prosecution of opposition figures like Ekrem İmamoğlu hinder mutual trust. Meanwhile, institutional investors are filling a gap in the private credit market left by departing retail clients, betting on respectable returns despite software sector risks. In Australia, the "Big Four" consulting firms face a severe reputational crisis; EY is under scrutiny after former employees allegedly accessed Prime Minister Anthony Albanese’s personal banking data, following previous scandals involving confidential government information leaks at PwC and KPMG. These recurring breaches have prompted the Australian Treasury to consider a forced breakup of these firms to restore industry integrity.