Takeover talk not surprising: GPT chief

GPT Group chief executive Nic Lyons says it's not surprising the property trust has been the target of takeover talk, given its strong portfolio of assets.

GPT operating profit up

GPT Group has reported a 14.5 per cent fall in annual earnings and says it expects to maintain distributions in 2008, given challenging market conditions.

GPT accounts for changes and costs

GPT Group says finance costs tied to the changes in its credit ratings by ratings agencies have been accounted for in the assumptions underlying its guidance.

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.

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.

Lend Lease revises expectations

LEND LEASE has joined the growing list of property groups to issue a 10 to 15 per cent profit downgrade for 2008-09 and to flag asset sales - this time due to the collapsing British housing market.