The Wall Street Journal

Lendlease quits international construction to free A$4.5 billion

Lendlease quits international construction to free A$4.5 billion
(Image: Getty)
The Wall Street Journal
By Stuart Condie SYDNEY – Australian real-estate developer Lendlease plans to exit international construction amid what it called a prolonged market downturn, freeing A4.5 billion (NZ$4.8b) for capital returns, debt reduction and local growth.The property developer on Monday said it would record up to A$1.48b in charges and impairments in its current fiscal year, including goodwill write-downs against its US and UK units.Lendlease will set up a dedicated capital-release unit and plans to release up to A$2.8b in capital over the next...

More World

Oracle’s Ellison now rivals Musk as world’s richest person
Technology

Oracle’s Ellison now rivals Musk as world’s richest person

The 81-year-old Oracle founder has enjoyed a $200 billion bump in his fortune.

US Supreme Court to hear Trump tariff case in Nov
World

US Supreme Court to hear Trump tariff case in Nov

Trump's administration asked the court for an expedited ruling preserving the tariffs.

AFP 10 Sep 2025
Most Asian markets rise on US rate hopes
Markets

Most Asian markets rise on US rate hopes

Investors are awaiting the release of fresh data on prices this week.

AFP 09 Sep 2025
$10.5m for low-cost alternative to dying satellite
Technology

$10.5m for low-cost alternative to dying satellite

The Endeavour funding is to develop new ozone-monitoring tech using micro-satellites.

Greg Hurrell 08 Sep 2025