| From Watoday.com.au: Australian property developers Westfield Group, Centro Properties Group and Lend Lease Corp. reported $5.25 billion in losses today as the global recession wiped billions off the value of assets and retail sales plunged.
Westfield, the world's largest shopping-center owner by market value, reported a net loss was $2.2 billion in 2008, from a profit of $3.4 billion a year earlier. Centro, with more than 70% of its assets in the US, said its first-half loss doubled, while Lend Lease, building London's Olympic Village, lost $596.4 million in the period..... Full Article: Source
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