News Articles for Wesfarmers

Australia's share market has rallied from a near eight-year low with the US Federal Reserve taking drastic action to shore up markets and new coronavirus cases seeming to plateau in Italy.

Wesfarmers has disclosed that nearly every part of its business has been affected by COVID-19, with Bunnings and Officeworks doing better while Target is suffering.

The underpayment of staff highlights the complexities of Australian labour laws.

Our daily board moves wrap includes Douglas Loh, Tim Desmond, Terry Smart, John Baillie, Petar Tomasevic, Leeanne Bond, Will Burbury, John Richards, Kevin Lines, Mark Zeptner, Tim Manners, Richard Jones, James Croser, Nader El Sayed, Les Davis, David Baxby, and Tim Bult.

Wesfarmers has undergone a restructure of its industrial division, with David Baxby to step down as managing director.

There's no bottom in sight for the Australian share market, which has shed all of Tuesday's gains to close at its lowest level in 14 months.

The Australian share market has suffered its worst day in over four years, closing the day at a six-month low amid a growing panic the coronavirus outbreak will trigger a global recession.

Wesfarmers has sold $1.1 billion of Coles shares, reducing its holdings of the supermarket chain to 10 per cent, while revealing $24 million of payroll problems during its half-yearly results released today.

When their first sponsorship arrangement was introduced 25 years ago, EY was an accounting, tax and corporate finance business and WASO was part of the ABC.

OPINION: Western Australia's lithium boom, which ran out of steam last year, will not be returning soon given the nationwide slowdown in China as it battles to contain the coronavirus outbreak.

Four of Perth's most notable business leaders offered their thoughts on how corporations can have a positive impact on the Western Australian community this afternoon, as Business News celebrated its 'Great for the State' series ahead of the first edition for 2020.

There are concerns the share market's strength doesn't accurately reflect the nation's economic performance, or outlook.

Private companies and not-for-profit businesses play a prominent role in the West Australian economy, with annual revenue at the top 20 exceeding $32 billion, according to data compiled by Business News.

A decision by Wesfarmers and partner SQM to pause investments at the Mount Holland mine and Kwinana refinery bring to about $3 billion the value of lithium projects deferred in Western Australia during the past year.

Our board moves wrap includes Jonathan Taylor, Timothy Spencer, David Crook, Paul Payne, Dennison Hambling, Peter Kennan, Aleksandra Spaseska, and Vicki Robinson.

Azure Capital, Canaccord Genuity and DLA Piper were among the most active advisers on corporate finance deals in 2019.

Businesses are facing a challenge locking in gas contracts for major projects in Western Australia, including Coogee's planned $1 billion Burrup Peninsula methanol plant, which the company is now pursuing without partner Wesfarmers.

Gerard Matera is helping turn positive sentiment around Aboriginal reconciliation in the business community into genuine change through indigenous-owned building company Marawar.

OPINION: WA again stands to be the beneficiary of trouble elsewhere, with local producers of lithium, gold, iron ore and hydrocarbons the likely winners.

Business News's updated ranking of WA's largest employers highlights the increased use of casual and contract staff.

An emerging battle for the future of WA's energy industry and efforts to revive Perth's street precincts have been among the defining themes of 2019.

At least $1.6 billion of equity has been raised by WA-linked critical minerals hopefuls in the past five years, but achieving consistent returns is another battle.

Our comprehensive annual survey of chief executive remuneration shows wide variation across companies.

The state government today announced it will provide $30 million in funding over five years to the The Clontarf Foundation, allowing the sports academy to operate in 30 Western Australian schools as of 2020.

Wesfarmers managing director Rob Scott says the Bunnings and Kmart owner has detected a "modest improvement" in retail conditions following a lift in property prices and government tax rebates.

Wesfarmers subsidiary Evol LNG has announced plans to upgrade its liquefied natural gas plant in Kwinana to increase production capacity by 40 per cent.

Subiaco-based Pointerra has announced commitments to raise $2.5 million through a share placement, primarily to fund the recruitment of further employees and technical resources.

Wesfarmers' newly announced partnership with Rowing WA is part of a broad range of sports-related community programs gaining popularity in WA.

Woolworths underpaid its employees by as much as $300 million over almost a decade, only discovering it had been keeping the cash when shocked store managers complained they were earning less than their staff.

Western Australia's two biggest charity events, Telethon and the MACA Cancer 200 Ride for Research, raised a collective $47.4 million for medical research over the weekend.

OPINION: Australia is seeking to find a delicate balance in terms of trade with a major customer, China, and its strategic alliance with the US.

Covalent Lithium's Earl Grey lithium project has been recommend for approval by WA's Environmental Protection Authority provided its proponents minimise the impact on flora and fauna, including chuditch and malleefowl.

Less than a week after Bunnings admitted to underpaying workers due to payroll error, a second Wesfarmers division has said it discovered a payroll mistake, which has left around 6,000 workers underpaid to a total of $15 million.

Our daily board moves wrap includes Peter Pawlowitsch, John Sims, Peter Westmacott, Pennee Osmond, Suzie Foreman, Tamara Lissovski, Janie Corke, Peter Cordin, and Tony Howarth.

Two prominent Perth company directors have been involved in board moves today, with Nev Power to join Strike Energy and Wesfarmers announcing that Tony Howarth will step down.

The number of women in executive leadership positions across Australia's largest listed companies is slowly increasing according to a new report, with Emeco Holdings, Wesfarmers and South32 the top performers for Western Australia.

Wesfarmers is set to enter the crowded lithium market, after Kidman Resources shareholders backed the conglomerate's $776 million takeover offer.

Wesfarmers played a big role in bringing credibility and respect back to the business sector after the turbulent events of the 1980s.

Wesfarmers has more than quadrupled its full-year profit to a record $5.51 billion, on the back of post-tax gains of $3.17 billion on the demerger of Coles and other divestments during the year.

The competition watchdog says it will not block Wesfarmers' $230 million acquisition of Catch.com.au operator Catch Group.