Write-off, but Leighton on track

LEIGHTON HOLDINGS has reaffirmed its full-year profit forecasts remain intact, despite the contractor writing off the remainder of its $117.5 million direct and indirect investments in Sydney's Lane Cove Tunnel.

Australian merchant bank Babcock and Brown faces lenders

Babcock & Brown Ltd., Australia's second-largest merchant bank that last week lost half its market value, is accelerating an examination of its listed funds as it faces its bankers over a potential review of its 2.8 billion Australian dollars (US$2.7 billion) corporate debt facility.

Santos dodges takeover talk

Santos says it is in the early stages of considering "various strategic initiative", in response to a query from the Australian Securities Exchange (ASX).

Red Wings reward Babcock for winning Stanley Cup (AP)

AP - Mike Babcock's new contract allows the oldest of his three children to graduate from the same high school she's attending. And if all goes well with the Detroit Red Wings over the next three years, Babcock's younger two kids likely will get the same opportunity.

Fairfax moves to unwind margin loan

THE Fairfax Media director John B. Fairfax has unwound a margin loan over 159 million of the publisher's shares, which was believed to have prompted short-sellers to target the stock over recent weeks.

Australia's Leighton Holdings wins US$720 million India pipeline project

Leighton International, a subsidiary of Australia's Leighton Holdings Ltd., said Tuesday that it has won a US$720 million (€470 million) to build pipelines offshore the west coast of India.