House price fall hits Lend Lease
August 21, 2008
Australian contractor Lend Lease reports a 47% drop in full-year net profit as house prices fell, particularly in the United Kingdom.
Lend Lease profit falls as expected
Property group Lend Lease has posted a 46.7 per cent fall in annual profit and says it has begun a global search for a successor to chief executive Greg Clarke.
Babcock & Brown shares dive on fee flow fears
Babcock & Brown, the worst- performing stock on the MSCI Asia-Pacific Index, fell on concerns that credit market turmoil may cut proceeds from asset sales to reduce debt.
Lend Lease to build eco-friendly schools
Lend Lease Corporation Ltd has achieved financial close to build two eco-friendly schools in England, the company says.
Lend Lease revealed as BBC mystery buyer
Property giant Lend Lease Corp today revealed itself as the mystery buyer that seized a 6% stake in Babcock & Brown Communities (BBC).
Orica to demerge consumer products
Orica Ltd plans to demerge its consumer products business into a separate company and raise up to $900 million through an entitlement offer.
Lend Lease stakes out Babcock arm
Property giant Lend Lease has revealed itself as the mystery buyer that seized a six per cent stake in Babcock & Brown Communities Group.
Babcock plunges further
Babcock & Brown, Australia's second-largest investment bank, plunged further, falling almost a third in early trading.
Lend Lease expects a profit fall
Lend Lease Corporation Ltd expects profit to fall 47 per cent this year as the company writes down inventories in the UK and reduces the value of investments.
Lend Lease slides as FKP rejects bid
LEND LEASE'S security price was hard hit yesterday amid market concerns over its ability to fund the London 2012 Olympic project and following the rejection of its $1.3 billion bid for the rival FKP Property Group.
ASX closes lower after financials fall
The Australian share market closed lower after falls from the financial sector, with Babcock & Brown suffering a heavy loss amid a drop in interim profit.
Lend Lease increases stake in Babcock
Property giant Lend Lease Corporation has upped its stake in retirement homes fund Babcock & Brown Communities Group from 6.18 per cent to 7.27 per cent.
Lend Lease tips profit plunge
Lend Lease expects operating net profit to fall 47% this year as it writes down inventories in the UK and reduces the value of investments.
FKP rejects $1.3b Lend Lease offer
FKP Property Group shares surged nearly 30 per cent after the company revealed it had rejected a $1.3b takeover offer from Lend Lease Corporation Ltd.
BHP Billiton abandons bid for Rio Tinto
BHP Billiton Ltd., the world's biggest mining company, abandoned a hostile $68 billion takeover bid for rival Rio Tinto Ltd., blaming the global economic downturn and plunging...
Rio Tinto says it is comfortable with...
Mining giant Rio Tinto on Wednesday sought to allay concerns about its debt levels a day after bigger rival BHP Billiton abandoned a takeover bid for that reason, sending Rio's...
Qantas profit up but outlook uncertain
Qantas expects a 41 per cent fall in profit this financial year as the airline faces the headwinds of rising fuel costs and a slowing global economy.
Fairfax moves to unwind margin loan
THE Fairfax Media director John B. Fairfax has unwound a margin loan over 159 million of the publisher's shares, which was believed to have prompted short-sellers to target the stock over recent weeks.
Australian merchant bank Babcock and Brown faces lenders
Babcock & Brown Ltd., Australia's second-largest merchant bank that last week lost half its market value, is accelerating an examination of its listed funds as it faces its bankers over a potential review of its 2.8 billion Australian dollars (US$2.7 billion) corporate debt facility. 
Babcock CEO, Chairman Step Down
Babcock & Brown unveiled a major overhaul of its board and management but failed to stem the drop in its share price due to continued concerns about its financial position.
Qantas full-year profit up 44%
Qantas has increased its full year profit by 44.1 per cent but says it is starting to feel the effect of higher fuel costs amid an uncertain economic outlook.
Babcock's jig is up
The writedowns have begun, corporate finance has been axed, and a fire sale of assets is now on. Babcock's survival hinges on this.
Wesfarmers denies buying a bad apple
THE managing director of Wesfarmers has denied that earnings at its supermarkets and bottle shops have gone backwards.
Wesfarmers expecting solid growth
Coles owner Wesfarmers has delivered a 33.6 per cent rise in annual profit and expects solid growth again this year despite a tougher economic environment.
Crown reports $370.1m in profit
Casinos operator Crown Ltd says its Australian casinos have been trading satisfactorily since the start of the 2008/09 financial year.