Fairfax moves to unwind margin loan
June 27, 2008
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.
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.
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.
Babcock plunges further
Babcock & Brown, Australia's second-largest investment bank, plunged further, falling almost a third in early trading.
Orica to demerge consumer products
Orica Ltd plans to demerge its consumer products business into a separate company and raise up to $900 million through an entitlement offer.
Westpac's issue of convertible shares...
Westpac's $600 million convertible preference share issue is the third from a major financial group in a month-and-a-half but it won't be the last.
Newcrest surges on energy supply deal
Newcrest says it has secured sufficient gas supplies to maintain full production at its flagship WA Telfer gold mine.
Lend Lease revealed as BBC mystery buyer
Property giant Lend Lease Corp today revealed itself as the mystery buyer that seized a 6% stake in Babcock & Brown Communities (BBC).
Lend Lease stakes out Babcock arm
Property giant Lend Lease has revealed itself as the mystery buyer that seized a six per cent stake in Babcock & Brown Communities Group.
Babcock & Brown shares dive on fee flow fears
Babcock & Brown, the worst- performing stock on the MSCI Asia-Pacific Index, fell on concerns that credit market turmoil may cut proceeds from asset sales to reduce debt.
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).
Telstra fires first shot at Canberra
There are signs the nasty days of brawling between Telstra and the Government may return.
Qantas flies around strife
QANTAS's share price fell to its lowest level in almost two years yesterday as a prolonged and bitter pay dispute continued to hurt the airline.
No Telstra broadband 'on current terms'
Telstra is unlikely to win the right to build the proposed national high-speed broadband network if it insists on wholly owning it, an analyst says.
Babcock quiet on sell-off
Babcock & Brown has refused to confirm whether Goldman Sachs JBWere and Deutsche Bank have been named independent advisers.
Babcock opens self-help books ahead...
BABCOCK & Brown Communities will look at all possibilities to push its ailing share price closer to its underlying asset value as part of a strategic review.
Apple Hot News - Telstra and Apple to bring iPhone 3G...
MELBOURNE, Australia—30 June 2008—Telstra, Australia’s leading telecommunications and
information services company, and Apple today announced that the highly anticipated...
Fairfax discusses margin call risk
THE Fairfax Media board has discussed the implications of a margin loan over 159 million shares held by the director John B. Fairfax, but yesterday made no announcement to the market on the issue.
Margin Lenders Cap Funding to Babcock
Three margin lenders stopped funding purchases of Babcock & Brown shares after a sharp drop in the firm's market value.
Rio Tinto ends Asian steel price talks
Rio Tinto has concluded price negotiations with its Asian customers for the steelmaking commodity.
Analysts warn of Transurban 'takeover'
Disappointed investors cut almost 15 per cent off the value of Transurban Group after the toll roads operator signalled cuts to its future distribution payouts.
Lend Lease slides as FKP rejects bid
LEND LEASE'S security price was hard hit yesterday amid market concerns over its ability to fund the London 2012 Olympic project and following the rejection of its $1.3 billion...
Rio Tinto rail access could 'cost $30b'
Rio Tinto says it could cost Australia $30 billion over 20 years if the company's Pilbara railways in Western Australia are open to third party access.
BHP Billiton and China's Baosteel...
BHP Billiton said Friday it has reached agreement with China's Baosteel on prices for iron ore deliveries, securing increases of up to 96.5 percent after protracted negotiations.
Transurban faces selling pain as it...
The job ahead for infrastructure investment vehicles was laid out by Transurban's new CEO.