Analysts slash GPT earnings outlook

GPT saw a further 11 per cent dive in its share price yesterday to its lowest level in its 37-year history, as brokers took the knife to the trust's earnings forecast for the next few years and continued to question the ability of its management.

ASX close flat as bank gains offset

The Australian share market closed flat as a rally in banks and property trusts, triggered by a positive US lead, offset falls in mining and energy stocks.

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.

Riding out the storm

The global credit crunch has changed the landscape for business, financial markets and the economy. In interviews with the Herald, 20 of Australia's top CEOs across a wide range of industries reveal that they do not expect things to improve this year - but their companies are weathering the turmoil well. Leonie Wood reports.

Trust slashes forecast

THE country's second largest diversified trust, GPT, has delivered an ominous warning that conditions for the commercial property sector are likely to get worse, as it slashed its earnings forecast by nearly a third.

Aussie stocks 2 per cent higher at noon

The Australian stock market was two per cent higher at noon after gains from the resource and energy sectors offset a poor lead from Wall Street overnight.