Wesfarmers has sold its struggling Homebase business for a nominal sum, with managing director Rob Scott confirming the UK hardware company has cost the conglomerate about $1.3 billion.
Oil prices fell about $US1 on Thursday, with expectations building that reduced supplies from Venezuela and Iran could prompt OPEC to wind down output cuts in place since the start of 2017.
Gold prices surged on Thursday, propelled above $US1,300 per ounce as the US dollar faded after US President Donald Trump called off a summit with North Korea, stoking political tensions.
BGC Australia is one of the state's largest and most diverse business groups, with revenue last financial year in excess of $2 billion from its building, construction, property, contracting, trucking and manufacturing operations.
BGC Australia director Sam Buckeridge announced this afternoon that the sprawling property and construction empire built by his late father Len Buckeridge is being prepared for sale.
Moves to encourage downstream lithium processing in Western Australia continued today, with the state government announcing a taskforce to develop a strategy for the sector.
Perth Airport's revenue per passenger has increased more than any other major airport in Australia over the past decade despite the average airfare declining more than 50 per cent, according to a new report out today.
The Australian share market has closed slightly higher as weakness among the banks, miners and energy companies was offset by gains by retailers and industrial stocks.
Perth-based Cash Converters International has made a $650,000 settlement payment in relation to concerns over its debt collection practices, as the company transitions the process to a specialist third party.
Westfield Corporation shareholders have voted in favour of a $33 billion takeover by Paris property giant Unibail-Rodamco, marking the end of an era for the Lowy family.
Caravel Minerals has announced the resignation of its entire board today, while the outgoing directors have agreed to withdraw legal proceedings against incoming director Alasdair Cooke.
The Australian dollar is higher after Wall Street made modest gains as it appear less likely the US Federal Reserve will increase the pace of its interest rate hikes this year.
Oil benchmarks fell on Wednesday after an unexpected build in US crude and gasoline inventories despite strong demand, and as traders weighed a possible increase in OPEC crude output to cover any shortfalls in supply from Iran and Venezuela.
Gold prices rose on Wednesday as the US dollar backed off its highs against a basket of currencies while investors interpreted minutes from the US Federal Reserve's latest policy meeting as dovish.
High company taxes are one of the biggest impediments to Australia's economic success, according to the latest global competitiveness index by Swiss business school IMD, although improving infrastructure and government efficiency have helped boost the country's overall rating.
Interest is growing in Kwinana as a possible battery manufacturing hub, with Wesfarmers mooted to be considering a move into the sector and representatives from US electric car manufacturer Tesla in Perth to meet with Premier Mark McGowan today.
Perth-based Pawsey Supercomputing Centre has appointed Mark Stickells as its new director, less than a month after the federal government said it would invest $70 million in the facility.
Perth company Fleetcare will more than double the number of vehicles it provides to the state government after securing a new sole supplier contract, after previously sharing the work with ASX-listed SG Fleet Group.
BGC Contracting has announced personnel cuts within its Perth head office as part of a restructure that will also move its mining chief operating officer to Brisbane as the company shifts its focus to the east coast.
Sydney-based investor Rob Nichols has teamed up with Singapore-based investment fund GIC to buy the assets of Perth company National Lifestyle Villages following a review led by Sirona Capital director Kelvin Flynn, who has run NLV since October last year.
The long-delayed footbridge linking East Perth to Optus Stadium will not be ready by the end of May despite previous assurances by the McGowan government.
