Business

An IPO of Officeworks wouldn't be in shareholders' best interests, Wesfarmers says.

Wesfarmers shelves Officeworks IPO

Wesfarmers has shelved plans to spin off its stationary and office supplies chain Officeworks into a separately listed company, citing "current equity market conditions".

The banks say they will have to pass the cost of the levy on to customers or shareholders.

Commonwealth Bank runs ad against bank levy

The Commonwealth Bank appears to be testing the waters for an advertising campaign against the federal government's proposed bank levy, by paying to spread its chief executive's criticism of the new tax on social media.