Kill the competition: Games firms sue ... Markets tumble ... Ammunition deal
August 20, 2008
Welcome to today's round-up of business news from The Times: what we're
saying, what they're saying
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.
Woolworths shares dive to all-time low after warning of 'marked' downturn
Woolworths had a day to forget yesterday, when it posted a profit warning, revealed dire recent trading, and tore up plans to sell its £200m stake in DVD publisher 2 entertain.
Babcock plunges further
Babcock & Brown, Australia's second-largest investment bank, plunged further, falling almost a third in early trading.
Woolworths still eyeing The Warehouse
Cashed-up retailer Woolworths is still likely to make a tilt at the New Zealand general merchandise retailer The Warehouse, an investment house says.
Woolworths insists new chief...
Woolworths' chairman, Richard North, maintained that its retail division can robustly grow its profits yesterday as the group parted company with its chief executive, Trevor...
Woolworths hires finance veteran in...
Woolworths has appointed a new chief financial officer days after the
departure of a senior director raised concerns that other executives may
leave the troubled retailer.
Woolworths fined for breaking FSA rules
Woolworths has been fined £350,000 by the Financial Services Authority for taking too long to disclose that its profits would be lower than expected.
Babcock & Brown Financing Deal Stiffs...
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...
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.
Woolworths rejects offer by Iceland chief Walker
Woolworths has rejected a surprise offer to acquire its retail division by Malcolm Walker, chief executive of the frozen food specialist Iceland.
Babcock & Brown denies being in default
Babcock & Brown, which lost almost half of its market value last week, reiterates it is not in default.
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 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.
Embattled Babcock & Brown Makes Big...
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.
Australian investment firm Babcock &...
Babcock & Brown Ltd.'s shares fell as much as 32 percent Friday on concerns about its debt position, despite Australia's second largest investment bank clinching a US$7 billion...
Australian investment firm Babcock &...
Investment firm Babcock & Brown Ltd. faces a potential review by lenders after its shares fell 28 percent Thursday, making it the latest Australian company to grapple with...
Woolworths angers shareholders by rejecting Iceland founder's approach
Woolworths faces a showdown with its biggest shareholders after the ailing retailer rejected a takeover approach for its 815 stores yesterday from Malcolm Walker, the founder of the Iceland frozen-food chain.
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.
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.
Woolworths in talks to sell retail...
Woolworths is in talks to sell its entire high street business to Hilco, the
specialist distressed fund, for £1.
Woolworths dives as it confirms...
Woolworths this morning confirmed a report in The Times that it is in
talks to sell its retail business.
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.
Babcock still has its tickets
And Michael Evans has a special friend he likes to call Mr Snufalufagus.
Woolworths in talks over £1 offer...
Woolworths’ biggest shareholder was locked in meetings with advisers last night over how best to fight Hilco’s £1 offer for the company’s retail arm.