Pressure is growing for Crown Resorts chief executive Ken Barton to resign after the chairman of the New South Wales casino regulator said he needed to go.
Crown's chairman Helen Coonan has unreservedly apolgised the the casino giant's shortcomings agreeing there's a urgency for root and branch change.
NSW Independent Liquor & Gaming Authority chairman Philip Crawford agrees Mr Barton and director Andrew Demetriou "need to go".
Here's my report from The World Today
The pandemic-driven recession has carved a big hole from the Commonwealth Bank's bottom line with its half year profit diving 21 percent to $4.9 billion.
Australia's biggest bank has been forced to increase its provisions for bad debts from rising unemployment while record low interest rates have also eroded the CBA's business of making money.
But CBA chief executive Matt Comyn tells ABC's Peter Ryan he's optimistic that Jobkeeper can be removed in late March without causing more hardship or another shock.
The future of James Packer's gaming empire is in real jeopardy this morning after a New South Wales inquiry found Crown Resorts is not suitable to operate a new casino in Sydney.
This morning, two Crown directors have resigned in the wake of the report - Michael Johnston and Guy Jalland who are both close to Mr Packer.
The findings are highly damaging for Mr Packer and members of Crown's board after evidence the company turned a blind eye to money laundering and fostered questionable links to shady junket operators.
ABC's Peter Ryan speaks with Packer biographer Damon Kitney who says Mr Packer may be forced to sell down his 37 percent stake to save the Sydney licence but also Crown's cash cows in Melbourne and Perth.
In a severe blow to the fortunes of billionaire James Packer, an inquiry has found Crown Resorts is not suitable to operate a casino at Barangaroo in Sydney.
Mr Packer is Crown's majority shareholder, but the inquiry by the New South Wales gaming regulator says he needs to sell down his control after allegations the company facilitated money laundering and has links with shady junket operators.
ABC's Peter Ryan says the inquiry's finding are damning of Crown's management and board of directors, raising the question of whether the casino giant is capable of overhauling its operations.
A report out this morning warns that critical financial information sometimes blurred in climate change risk models could expose businesses and consumers to major risks.
The paper published in the journal Nature Climate Change says methodologies used in risk assessments can often be clouded in corporate "black boxes" or "commercial in confidence" agreements where information could be misconstrued.
ABC's Peter Ryan speaks with Dr Tanya Fiedler of the University of Sydney Business School who says says company boards and top executives need to do a better job in disclosing climate change risk.
As Australia's economy continues to recover from the COVID crisis, all eyes are companies rolling out their profit results this week.
The major focus is on Wednesday when the Commonwealth Bank reveals its half year numbers and importanty the economic outlook from chief executive Matt Comyn who's remains cautiously optimistic the worst is behind us.
But the Australian Industry Group is warning there could be a shock in late March when JobKeeper ends.
I speak with the ABC's Nas Campanello on The World Today
I also speak earlier today on RN Breakfast with Fran Kelly
I speak with Tom Oriti on ABC News Radio.
