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The Australian Business Review
 

Good morning,

A sexual harassment and workplace scandal has erupted within Country Road Group, seeing two highly placed executives depart and the global boss jet into Australia to announce an external investigation into the handling of complaints at the fashion retailer’s Melbourne headquarters.

High-profile investors have welcomed Lendlease's dramatic return to Australian shores with the embattled property group unveiling plans to sell off its international building arm and exit major offshore developments, potentially boosting returns to securityholders.

Online retailer Cettire has hit back at allegations regarding the quality of its products despite more than 50 customers complaining about receiving empty boxes after ordering luxury goods.
Perry Williams
Business editor
The markets


Making news this morning
1
McGuigan’s owner faces grim outlook after merger talks end
The makers of McGuigan wines says Accolade has walked away from merger discussions, with the winemaker now facing bulging debt and shares that will remain suspended for two weeks as it seeks to raise fresh capital.
2
How a sneaky superannuation rule cost me $4000
Switching super funds could lose you thousands of dollars in tax deductions if you get caught out by this obscure money trap.
3
Banks get until October to sort out cash distribution woes
The competition watchdog has given the heavyweight banking sector until October to continue their discussions about the future of cash distribution in Australia.
Editor's picks
INDUSTRY
Whyalla blast furnace restarts after weeks out of action
The blast furnace at the Whyalla steelworks has restarted after several weeks out of action, while steelmaking should begin again next month, GFG Alliance boss Sanjeev Gupta says.
By CAMERON ENGLAND
MARGIN CALL
Twiggy, the ‘Moroccan minister’ and a lot of pent-up energy
A photograph of Fortescue chairman Andrew Forrest necking with a woman in Paris has triggered runaway speculation as to the identity of the mysterious flame.
By YONI BASHAN, JOHN STENSHOLT
EXCLUSIVE
‘AI regulators should look to the auto industry’: Workday
The technology has ‘some inherent risk’ – just like driving cars – and like the auto industry should be built and tested for safety, the head of AI at HR software giant Workdays says.
By JARED LYNCH
Commentary
Lombardo needs to deliver on plan for radical surgery
By GLENDA KORPORAAL
Senior writer
Lendlease has reversed the major offshore expansion program that boss Tony Lombardo himself was part of, but the move also buys some breathing space.
Elevated stockmarket FOMO points to a correction
By DAVID ROGERS
Markets Editor
Macquarie Equities warns that fear of missing out is back with a vengeance in the sharemarkets, signalling below-average returns for the year ahead.
Dataroom
→ Global retreat buys Lendlease boss another year in top job
Lendlease chief executive Tony Lombardo has given investors what they have wanted, now he just has to pull the plan off.
→ Accolade switches from Australian Vintage to Pernod Ricard bid
Accolade Wines is believed to be progressing with talks on a deal to buy Pernod Ricard Australia as some in the market see a break-up of Australian Vintage as a possibility.
→ Usual contenders set to line up for Santos assets
The question analysts are asking is whether Santos would reap any proceeds from Western Australia asset sales, what with decommissioning costs.
 
 
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