ASX 200 adds 0.8pc as US futures point to further US gains and RBA can breathe easier after wage decision. But Iron ore futures dive to six-week low. Lovisa taps Smiggle boss as next CEO. APM soars as Affinity emerges as mystery suitor. Booktopia CEO out in cost-cutting restructure.
Lendlease has hit a snag as it looks to cut down its sprawling empire
The sale of the property developer’s New York-headquartered business is part of a strategy to bring capital back to local shores.
ASX finishes lower on quiet day of trading as April retail sales come in below forecasts. Peter Warren issues profit warning. Southern Cross Media considering ACM proposal. Boss Energy hit by CEO, chair selloff.
Lendlease has reversed the major offshore expansion program that boss Tony Lombardo himself was part of, but the move also buys some breathing space.
Investors like the plan – so far – but is Lendlease’s strategy to shrink back to Australia really that great?
Lendlease chief executive Tony Lombardo has given investors what they have wanted, now he just has to pull the plan off.
The developer’s shares rally on decision to sell its offshore building units and major developments and bring the capital back home, where it also faces challenging markets.
Australian Vintage extends suspension as Accolade ends talks. Star suitor proposed turnaround strategy. Restructure boosts Lendlease. Healius to offload Lumus. Neuren soars after drug trial. Cettire jumps.
The Lendlease boss Tony Lombardo is expected to take a significant step towards reshaping his pressured property play.
The property giant is preparing to reveal its new strategy, as sources indicate the company will face a cash call ahead of any attempt to dispute its tax bill.
Concern was building late last week that the leadership at Lendlease might be divided over what to announce in its strategy day on Monday.
It’s been a massive week for activist investors with Lendlease, Karoon Energy and Bapcor all facing the glare of shareholders who want change and are not afraid to say it in public.
What to do when the markets look historically expensive? Allan Gray is finding value in package makers such as Orora and telling Lendlease management to shape up.
The company started by Dutch immigrant Dick Dusseldorp in the 1960s faces a reckoning and investors won’t forgive its current management if the turnaround isn’t swift.
The under fire developer wants to bring a new luxury tower to one of the Victorian capital’s top addresses as the city’s apartments come back.
Top executives at real estate developer and builder Lendlease are resigning ahead of the group’s plan to axe thousands of jobs.
Former banker Michael Ullmer plans to leave the beleaguered developer in November, which could spark more unrest as big investors have flagged they want him to leave more quickly.
Inghams says not impacted by bird flu case. Webjet gains on demerger plan. Eagers dives on earnings warning. Telstra hit by downgrades. D-Day for BHP’s next Anglo move.
The hunt for a new chairman at Lendlease is narrowing to former Mirvac Group chairman John Mulcahy.
Original URL: https://www.theaustralian.com.au/topics/lendlease/page/3