Safe haven turns sour
August 1, 2008
It's a case of broken trust, as property fund investors find their funds were geared up to risky levels and sunk into overseas ventures.
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.
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.
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.
Babcock & Brown 'set to meet guidance'
Investment group Babcock & Brown says it is on track to meet its full year earnings target.
Babcock & Brown denies being in default
Babcock & Brown, which lost almost half of its market value last week, reiterates it is not in default.
Red Wings reward Babcock for winning...
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...
Babcock CEO, Chairman Step Down
Babcock & Brown unveiled a major overhaul of its board and management but failed to stem the drop in its share price due to continued concerns about its financial position.
Transurban toll revenue jumps
Toll road operator Transurban has reported an increase in annual revenue from tolls and fees on its roads in Australia and the United States, helped by higher traffic volumes and toll increases.
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.
Qantas passenger revenues up 4.3%
Qantas says its May group passenger numbers increased by 3.9 per cent over the previous year.
Babcock's jig is up
The writedowns have begun, corporate finance has been axed, and a fire sale of assets is now on. Babcock's survival hinges on this.
Transurban tolls and fees pay off
Toll road operator Transurban Group has reported an increase in annual revenue from tolls and fees on its roads in Australia and the United States.
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.
Babcock quiet on sell-off
Babcock & Brown has refused to confirm whether Goldman Sachs JBWere and Deutsche Bank have been named independent advisers.
Telstra to outdo profit guidance
Telstra is expected to do better than its guidance when it reveals its annual profit results this week, as it increases revenue from its Next G mobile services.
Babcock & Brown Financing Deal Stiffs Short-Sellers
The embattled Australian infrastructure investment firm comes to an agreement with creditors to pay higher interest rate in exchange for them dropping review of company's debt covenants.
Embattled Babcock & Brown Makes Big Rail Deal
In the midst of an investor crisis of confidence in the Australian investment firm, it leads consortium to purchase Angel Trains, a U.K. railcar leasing firm, from RBS.
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.
Babcock still has its tickets
And Michael Evans has a special friend he likes to call Mr Snufalufagus.
Qantas full-year profit up 44%
Qantas has increased its full year profit by 44.1 per cent but says it is starting to feel the effect of higher fuel costs amid an uncertain economic outlook.
ASX closes lower after financials fall
The Australian share market closed lower after falls from the financial sector, with Babcock & Brown suffering a heavy loss amid a drop in interim profit.
Babcock denies default
Shares in Babcock & Brown rally after the troubled group says it is not in default or breach of its banking covenants.
Babcock struggles with banks
Troubled investment firm Babcock & Brown has begun meeting with its bankers, as it goes ahead with asset sales.