Multiplex is expected to announce losses of up to $167 million from building London’s new Wembley stadium this week, reports The Sunday Times
(UK). Australian bankers say CEO Andrew Roberts is finalising a
“kitchen sink” write-off from the project that could be between $108m
and $167m – nearly 10% of the value of the $1.8bn contract. Multiplex
shares are expected to plunge by as much as 25% when trading resumes
this week, reports the Smage.

continuing Wembley saga has already cost the jobs of two sports
ministers, the chief executive of the Football Association and the
chairman of the stadium development company, but the resignation of
Multiplex founder John Roberts is the greatest of all, says Steven Downes in The Times.
And executives at some of Britain’s most powerful construction firms
say Multiplex has aggressively underbid on a range of major British
construction projects. If true, the company – which has come from
nowhere to become Britain’s most powerful developer in less than five
years – runs the risk of making a loss not only on Wembley but on other
high-profile developments, reports The Observer.

A Fortune
magazine survey of corporate reputations has found that mining giant
BHP Billiton is the “most admired” company in the Asia-Pacific. Thesurvey
asked more than 10,000 corporate directors, executives and analysts to
rank companies on nine criteria, including innovation, quality of
management, long-term investment value, social responsibility and
financial soundness, reports Christian Catalano in the Smage. General Electric topped the global list.

In The Age, Aileen Keenan
reports that Melbourne’s property market bubble is likely to deflate
for the next three years, with industry observer BIS Shrapnel tipping
that prices will fall by 4.8% over the next three years.

The Fin Review
reports that Telstra is negotiating partnerships with major commercial
television networks and key Hollywood film studios as it ramps up
revolutionary plans to deliver TV, movies and interactive services over
the internet. Also in the AFR, the NSW government plans to
proceed with laws releasing James Hardie directors and executive from
civil liability, which are required for the Hardie board to support a
$1.5 billion deal to compensate asbestos victims, reports Fiona Buffini.

And The Australian
reports that David Jones chief Mark McInnes has emerged as a possible
external candidate to succeed Roger Corbett at Woolworths when he steps
down next year.