News Articles for Wesfarmers

Women are being appointed to ASX200 boards at a faster rate than ever, but a number of major Western Australian companies remain without any female representation on their boards.

The clock is ticking for the leaders of some of WA's biggest businesses, beset by low growth and a sluggish outlook.

After last month's closure of Perth Theatre Company, Business News has delved into the financial reports of arts and culture groups in WA to check on their health.

Wesfarmers' full-year profit will be hit by write-downs and restructuring costs of about $2 billion related to its Target department stores and Queensland coal mine.

The Art Gallery of Western Australia has drawn on old supporters led by Wesfarmers and new partners like a robotics startup to help revitalise its activities.

A tough business environment is bringing an increasing number of corporate malfeasance cases to the fore.

WA business leaders have bemoaned the state government's failure to plan for life beyond the mining construction boom, but still see opportunities in other sectors.

Stewart Butel will retire as the managing director of Wesfarmers Resources at the end of July. Mr Butel has been associated with Wesfarmers since 2000.

Wesfarmers' resources division managing director Stewart Butel has decided to step down after 10 years in the role.

Several recent high-profile cases of questionable corporate behaviour that have come to light here, and around the world, have a common element – whistleblowers.

Wesfarmers has flagged concerns that its discount retailer Target faces higher stock clearances and an ongoing decline in sales growth.

A local academic has warned that failure to privatise the operation of Fremantle Ports could have a negative effect on the competitiveness of the Western Australia's exporting industries.

Wesfarmers has disclosed that $18.1 million worth of supplier rebates had artificially inflated Target's half-year earnings and up to 10 people were involved in the collusion.

SPECIAL REPORT: A flurry of deals over the past fortnight, including four acquisitions by international companies expanding in Western Australia and the year's largest capital raising, has added life to a flat corporate finance market.

Wesfarmers has announced the resignation of Target managing director Stuart Machin, just days after it confirmed an investigation into accusations that supplier rebates may have artificially inflat

Prominent local business figure Gene Tilbrook has been appointed deputy chairman of the Australian Institute of Company Directors.

A group of 30 Western Australian stocks selected by Business News has significantly outperformed the ASX200 in the March quarter, indicating stock investors are optimistic about the state's economic future.

Wesfarmers has confirmed it is investigating accusations that supplier rebates may have artificially inflated Target's earnings.

Wesfarmers chief executive Richard Goyder has thrown his support behind the state government's plan to lease Fremantle Ports, saying the state needs a world-class operator to ensure exports are competitive internationally.

Wesfarmers subsidiary, Kleenheat, has secured 19 per cent of the state's business market in just its third year of operation, according to general manager Mark Gadsby.

SPECIAL REPORT: Business News CEO and online entrepreneur, Charlie Gunningham, analyses the social media influence of the political and business elite.

SPECIAL REPORT: The number of women serving on company boards is slowly one the rise, but it's still rare to see a female take the chair, judging by Business News's analysis of Western Australian company directors.

SPECIAL REPORT: There has been a major shift in business influence in WA amid waning international investment and, with two elections on the way, there is a prospect of even bigger changes in political influence. Click through to see our listing of WA's most infliential leaders in politics and business.

Small business will be better protected against the misuse of market power by bigger players under new changes to competition law, which has been criticised by the Business Council of Australia and Wesfarmers chief executive Richard Goyder.

Wesfarmers managing director Richard Goyder, finance director Terry Bowen and non-executive director James Graham have sold a combined $12.1 million worth of shares, predominantly for tax purposes.

Wesfarmers subsidiary EVOL LNG has won a contract to supply LNG to the power station at Doray Minerals' Deflector gold project in the Murchison region for an undisclosed sum.

A unique Western Australian project aimed at challenging the perception that philanthropy is the preserve of a wealthy elite has facilitated its first major donation.

Woolworths has appointed a new boss to revive the retail giant, hammered by weak earnings, stiff competition and its failed hardware chain Masters.

Shares in Wesfarmers have slumped after losses from the group's coal mines partly offset Coles' and Bunnings' strong gains.

Sydney-based GrainCorp has emerged as a cornerstone investor in a bid to corporatise and list CBH Group, through a complex deal that would deliver up to $1 billion in cash plus share

A new lobby group associated with influential players in the power industry has warned the state government it risks a voter backlash at the 2017 poll if proposed changes to the sector trigger higher prices to households.

Diane Smith-Gander has been appointed as the chairwoman of Safe Work Australia.

The contrasting fortunes of the Bunnings and Masters hardware businesses reflect the broader performance of their relative corporate owners.

You probably wouldn't believe it if someone told you that Perth-based retailing specialist Wesfarmers was bigger than global resources leader BHP Billiton, but that was the situation last week on the Australian Securities Exchange as the company led by Richard Goyder quietly slipped past the global mining giant.

Is Wesfarmers' $705 million acquisition of UK hardware chain Homebase a fantastic opportunity or a case of hubris that will lead to disappointment?

Wesfarmers has announced plans to spend over $1 billion in the UK market after sealing a deal to buy the Homebase home improvement chain for $705 million and rebrand it as Bunnings.

Woolworths is abandoning its multi-billion dollar foray into the Australian home improvement market following years of losses, putting 7,000 jobs at risk.

A recent addition to the Business News offering is keeping track of WA's performance on the markets this year. The opening weeks have not been good.

For as long as I can remember, I've asked the Wesfarmers leadership when they would look at an international expansion.

Perth-based conglomerate Wesfarmers is poised to make its first major move outside Australasia, offering $A700 million to acquire the Homebase home improvement chain in the UK and revealing plans to develop a new Bunnings-branded business in that market.