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Regulation

Panel blocks major shareholder

The Takeovers Panel has blocked a major shareholder of Finders Resources from accepting the recent takeover offer after the corporate watchdog submitted an application to the panel.

Iluka Resources hit with class action

Iluka Resources has been served with a class action, with a group of shareholders alleging the mineral sands miner misled the market six years ago.

AMP CEO quits after commission mauling

AMP chief executive Craig Meller has quit the wealth management giant, becoming the first major casualty of the Financial Services Royal Commission.

Workers to kick off nationwide rallies

Thousands of workers will be out in force for wage increases and job security in union-led rallies across the country over two weeks, kicking off with a mass meeting of delegates in Melbourne.

Former Perth broker facing fraud charge

Former Perth finance broker Lachlan McDonald has pleaded guilty to giving false information and fraud charges following an investigation by the corporate watchdog.

CBA pays $3m after Asic advice probe

Commonwealth Bank of Australia has agreed to pay $3 million after the corporate watchdog found two of the lender's financial planning arms charged customers millions of dollars for advice they did not receive.

Businesses wary of tax training plan

SPECIAL REPORT: The state government’s plan to remove the payroll tax exemption for employees undertaking training has secured the support of the Greens and The Nationals WA, despite strong opposition from the Liberals and the state's leading business lobby group.

Thermomix hit with $4.6m court fine

Perth-based kitchen appliances firm Thermomix has been ordered to pay $4.6 million in penalties after the Federal Court of Australia found that the company misled customers when its products were found to be dangerously faulty.

Fair Work recovers $400,000 for WA workers

The Fair Work Ombudsman has helped local workers recover nearly $400,000 in unpaid wages, including more than $300,000 from court actions started by the regulator.

ANZ to pay $3m after investigation

ANZ bank will pay $3 million after an investigation found the lender failed to provide more than 10,000 customers annual reviews of their investments.

Panel rejects Auris application

The Takeovers Panel has thrown out an application from Perth-based Auris Minerals to stop a group of dissident shareholders from voting at a meeting to spill the company’s board.

Burswood auction house into liquidation

Liquidators have been appointed to Burswood-based Hayes Auctioneers after the business suffered financial difficulties, with up to 40 sellers out of pocket.

Superfunded goes into liquidation

Perth-based company Superfunded has been placed into liquidation after the Federal Court made orders to wind-up the business following an application by the corporate watchdog.

Asic moves against Rio, Albanese

Australia’s corporate watchdog has commenced legal proceedings against Rio Tinto and two former executives over its disastrous $US4 billion foray into Mozambique coal, 17 months after regulators in the UK and US took action on the same matter.

Five-year ban for Perth adviser

The corporate watchdog has banned Perth-based financial adviser Philip Leake from providing financial services for the next five years after he was found to have given poor advice to a number of clients.

Woolworths pulls out of local liquor association

Woolworths’ liquor arm has resigned from the Liquor Stores Association of Western Australia, following the association's support for state government plans to restrict the growth of large liquor stores, such as Dan Murphy's and First Choice.

Liquor reforms drive change for tourism

State government agency Tourism WA will have greater input into decisions on liquor licence applications, after Premier Mark McGowan today announced a series of regulatory reforms and red tape cuts.

Online trade shifts hours debate

As part of the 25-year Business News anniversary, we take a look at how the retail trade debate has changed.

Government backs EPA on Mandogalup

The state government has endorsed findings by the Environmental Protection Authority that will allow for urban development on a portion of land near an Alcoa waste dump in Perth’s southern suburbs.

WA scam victims could be refunded

Thousands of Western Australian scam victims could be refunded millions of dollars after US legal authorities issued Western Union a $US586 million ($750 million) penalty for aiding fraud over a 13-year period.

Big banks under pressure

Australia’s major banks are under mounting pressure today, with a draft report from the Productivity Commission raising doubts about competition levels as regulators apply more scrutiny to three of the 'big four'.

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