Macquarie Group

Local vendors of The Big Issue showed prominent Perth business leaders and politicians what it’s like to sell the street magazine today as part of a campaign to increase awareness of the everyday challenges facing the homeless and disadvantaged.

The impact on economic development and power prices from a sale of the state’s electricity network could be managed by a strong regulatory framework, Premier Colin Barnett said today, as he continued to reassess his view on the ownership of Western Power.

Nine Entertainment has taken a 9.99 per cent stake in regional broadcaster Southern Cross Media, in the first of many moves expected in the sector as players position themselves ahead of a likely change in ownership rules.

In the first of a series of interviews with top WA business leaders, Business News met with inaugural 40under40 First Amongst Equals winner and Macquarie Group chairman (WA) Mark Barnaba. Far from the boardroom, in the relaxed setting of Julio’s restaurant in West Perth, Mr Barnaba spoke of his education, mentors, leadership style, culture, diversity, and social media.

The Australian dollar gold price hit an all-time record of $1,826 an ounce today after Britain elected to leave the European Union, with shares in local gold miners rallying strongly even though the broader stock market tumbled more than 3 per cent.

The Australian share market lost steam throughout the afternoon session to close slightly higher as gains in health care, resource and banking stocks offset losses in Woolworths and Telstra.

Macquarie Group managing director Nicholas Moore says the investment bank is on track to broadly match last year's record $2.06 billion profit despite a 2 per cent slip in half-year profit.

ANZ Banking Group has announced its second asset sale in two weeks as it continues efforts to streamline the business and bolster its capital.

Macquarie Group remains on course for a full-year profit in line with last year's record $2.1 billion despite a reduced third-quarter contribution from its capital markets-facing businesses.

Macquarie Group has lifted full-year profit 7.5 per cent to a fresh record of $2.217 billion and expects a similar performance in 2018.Net profit from Macquarie's banking and financial services unit soared 47 per cent to $513 million, with Australian lending and deposits both growing.

Big banks have warned that customers and shareholders will carry the cost of the federal government's surprise $6.2 billion levy on Australia's largest financial institutions.

OPINION: Picking on banks might be populist, but it is a very risky proposition.

State Treasurer Ben Wyatt says the South Australian government's controversial bank levy is an attractive option and he'll watch with interest ahead of delivering his own budget in September.

Global demand for lithium is expected to increase by three to four times by 2025 and projected supplies will not keep up, Tianqi Lithium Australia general manager Phil Thick told a Mining Club lunch today.

Five years after joining Macquarie Group as its Western Australian chairman, Mark Barnaba is leaving to pursue a career as a non-executive director, with his first new role to be on the board of Australia’s central bank.

Macquarie Group expects its 2018 financial year profit result to be broadly in line with its previous year record profit of $2.2 billion.

After seven years at the helm of Fortescue Metals Group, Nev Power has announced he will hand over the reins and take a much-needed holiday.

Macquarie Group's board has approved an on-market buyback of up to $1 billion after posting a first-half profit of $1.25 billion.

Our weekly appointments wrap includes Bran Black, Jennifer Westacott, Paul Trengove, Justine Roberts, Terrence Winner, James Arnott and Deb Russell.