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The Australian Business Review
 

Good morning,

The battle intensifies for Lendlease CEO Tony Lombardo as he fights to retain his job with the embattled property giant unveiling a new strategy focused on the local market today, while it also faces the prospect of a $112m cash call as it battles with the ATO.

Luxury goods marketplace Cettire is in the crosshairs of investors with one instigating an investigation into the company’s complex supply network and customer service, while Australia’s competition regulator probes complaints about its handling of disputes. 

Business failures are tracking at the highest rates since the aftermath of the Global Financial Crisis as deteriorating economic conditions coupled with poor consumer spending and interest rate pressures damage the fortunes of many companies.

Perry Williams
Business editor
The markets


Making news this morning
1
Cost-of-living crisis not in fashion for the well-heeled
Australians are pulling back on takeaway coffees, but well-heeled shoppers are still spending on luxury items, helping French fashion houses Hermes and Chanel post record sales.
2
Argo sees recovery coming for health stocks
Argo Investments is running the rule over out-of-favour healthcare stocks, which have failed to keep up with the surge in the broader sharemarket.
3
Insurer turns to AI to streamline application process
Zurich Insurance is planning to use artificial intelligence tools designed with University of Technology Sydney to help process the mental health side of insurance applications.
Editor's picks
EXCLUSIVE
Borrowing boom as businesses beef up assets
CBA’s business bank is seeing record levels of vehicle and equipment financing despite the murky economic outlook.
By CLIONA O’DOWD
COMPETING BIDS
Surf’s up at $5.8m for last-minute Yamba purchasers
The likely winter-induced listings hibernation is not far off, but the weekend’s stellar auction results were distinctly beachy, highlighted by a sale at northern NSW surf town Yamba.
By JONATHAN CHANCELLOR
COMMENTARY
Nine battered by storm of its own making
The crisis currently engulfing Nine is a disaster of the media company’s own making. And there is no quick fix.
By JAMES MADDEN
Commentary
BHP’s CEO needs to avoid facing his own ‘Origin’ moment
By ERIC JOHNSTON
Associate Editor
There’s a number of Anglo investors who believe the land grab for ‘red gold’ gives the miner a powerful bargaining chip.
The ultimate danger of jumping on lithium bandwagon
By ROGER MONTGOMERY
Wealth Columnist
Lithium is considered de rigueur as society moves from fossil fuels to electric power but that element could easily be usurped by better technology and consigned to the annals of h...
Dataroom
Private equity eyes Healius diagnostic imaging unit
Quadrant, Adamantem and Bain are among a handful of private equity firms believed to have shown interest in an acquisition of the $800m Healius diagnostic imaging unit
Lendlease still divided over recovery strategy
Concern was building late last week that the leadership at Lendlease might be divided over what to announce in its strategy day on Monday.
Strange bedfellows hope for happy coincidence
Investment bankers at Goldman Sachs will be hoping that the demerger of Webjet’s WebBeds business will coincide with the mooted $US1bn IPO of global peer Hotel Beds.