Myer has reported $652.5 million in sales for the three months to April 27, a 0.5 per cent increase from the previous corresponding year, as it remained cautious about the retail outlook.
Pharmaceutical giant GlaxoSmithKline is axing 120 jobs from its Australian workforce after announcing plans to shut its tablet packaging business in Melbourne as part of a "business transformation".
US private equity heavyweight Kohlberg Kravis Roberts late Tuesday offloaded its remaining $260 million stake in television to newspaper interest Seven West Media, bringing to an end its involvement in Australia's media sector.
Australian shares are set to open flat to lower after markets in the US and Europe rose to new highs, while the Aussie dollar recovered losses in offshore trade.
U.S. stocks rose on Tuesday, with the Dow and the S&P 500 closing at new all-time highs as Federal Reserve officials' comments eased some concerns that the central bank could start reducing its stimulus program.
Australians will have to pay more tax or expect poorer government services, the head of the Treasury has warned.