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Unibail-Rodamco-Westfield

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Goodman’s Oakdale industrial estate in Sydney’s west

COVID-19 and rising yields create headwinds for listed property vehicles

Listed property trusts in the challenged office and discretionary retail sectors are trading at discounts not seen since the global financial crisis.

  • tim boreham

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Westfield's next London project will include updating a shopping mall in Croydon.

Unibail’s Westfield freezes dividends as pandemic hits retailers

Sir Frank Lowy’s former retail empire Unibail-Rodamco-Westfield has warned investors it will not pay a dividend until 2023 and will exit its US-based assets in the coming year as its works through the impact of the global pandemic.

  • Carolyn Cummins
Pfizer's announcement of studies showing its vaccine is 90% effective against COVID-19 fueled positive market momentum on Tuesday.

Vaccine news sends investors into 'big switch' frenzy

A sense of certainty sent global markets into a frenzy on Tuesday but the ASX couldn't make the most of the excitement, closing 0.7% higher at 6340 points.

  • Lucy Battersby and Alex Druce
Scentre Group CEO Peter Allen says landlords "need to have some rights back".

Scentre $4b deal could spark hybrid debt resurgence

Innovative debt deals are poised to make a come back as market-leading companies look to shore up the balance sheets

  • Carolyn Cummins
Westfield London in White City, which is owned by Unibail-Rodamco-Westfield.

Sales at Unibail's Westfield malls hit as virus keeps shoppers away

The former Westfield retail empire has been hit hard by the pandemic with a 14 per cent fall in sales and just over half of tenants paying rent.

  • Carolyn Cummins
Westpac shares fell 5.3 per cent on Wednesday, more than the other three big retail banks, as the sector's credit rating was downgraded by Fitch and regulators recommended suspending dividends.

ASX hit by credit rating downgrades on banking sector

Australia's stock market closed lower after credit rating agencies warned the country's AAA rating was at risk. Bank ratings were also downgraded.

  • Lucy Battersby
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Westfield London in White City, which is owned by Unibail-Rodmanco-Westfield

Retail landlord giant slashes dividend as virus bites sales

Unibail-Rodamco-Westfield has suspended the payment of its second half dividend as it embarks on non-essential store closures and deferment of some development projects.

  • Carolyn Cummins
Markets are unsure how to respond to the growing coronavirus threat.

A-REITs hold their own in coronavirus onslaught

Listed property trusts’ defensive attributes saw them hold their own amid this week’s global stock market turbulence.

  • Simon Johanson
Amazon's warehouse at Goodman Centenary Distribution Centre in Moorebank, Sydney.

Goodman upgrades earnings outlook as online retail spurs warehouse demand

Goodman Group, the biggest Amazon landlord in Australia, has hiked its full-year earnings forecast on the back of unrelenting growth in demand for warehouse space.

  • Carolyn Cummins
Steven, Frank and Peter Lowy have severed all ties with the Westfield and Scentre empire they established

Lowy family rings its last cash register

Sir Frank Lowy rose from humble beginnings, in a delicatessen at Blacktown in Sydney's west, to owning vast malls in the world's most sought-after locations.

  • Carolyn Cummins

Original URL: https://www.brisbanetimes.com.au/topic/urw-i0k