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.

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.

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.

ASX lower led by financials, resources

The Australian share market closed more than two per cent lower, dragged down by the resource and financial sectors and a weak lead from Wall Street overnight.

Woolworths may plunge into a retail bucket

If Steve Johnson wondered what he had let himself in for by agreeing to be the new chief executive of Woolworths, it was laid bare yesterday. According to one City analyst, he has no choice but to rip up the group's tried-and-tested model and become a bucket shop.