Local punters moderate losing streak at Crown
August 20, 2008
AFTER a disappointing nine months for James Packer's Crown Limited, in which investors had dumped stock amid fears the company was overexposed to the ailing US gaming market, the company surpassed low expectations yesterday with an upbeat outlook for its Australian gaming operations.
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.
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 plunges further
Babcock & Brown, Australia's second-largest investment bank, plunged further, falling almost a third in early trading.
Crown reports $370.1m in profit
Casinos operator Crown Ltd says its Australian casinos have been trading satisfactorily since the start of the 2008/09 financial 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.
Qantas profit up but outlook uncertain
Qantas expects a 41 per cent fall in profit this financial year as the airline faces the headwinds of rising fuel costs and a slowing global economy.
CSL to acquire Talecris for $3.4b
Blood products and vaccine firm CSL will acquire Talecris Biotherapeutics Holdings for $3.48 billion to boost its presence in the plasma therapeutics market.
08/13/08
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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.
WorleyParsons' billion-dollar solar plan
WorleyParsons is studying the construction of the world's biggest project producing power from the sun's heat, tapping incentives for renewable energy generation.
Westpac's ray of light
Westpac has so far managed to avoid big problem credit exposures, and should it successfully swallow St George, will become Australia's biggest bank.
Westpac expect 8% cash earnings growth
Westpac Banking Corporation says it is on track to deliver 2008 cash earnings growth of between six and eight per cent.
Westpac beats gloom
WESTPAC yesterday ruled out any need to ration lending in the global credit crisis, revealing that it had so far escaped the worst of the domestic economic slowdown.
BHP Billiton abandons bid for Rio Tinto
BHP Billiton Ltd., the world's biggest mining company, abandoned a hostile $68 billion takeover bid for rival Rio Tinto Ltd., blaming the global economic downturn and plunging...
Newcrest to expand as profit surges
NEWCREST MINING has outlined plans to increase its annual production by nearly 1 million ounces within five years after adding another 15 million ounces to its reserve inventory.
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.
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. 
Woolworths may plunge into a retail...
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...
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 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.
Wesfarmers denies buying a bad apple
THE managing director of Wesfarmers has denied that earnings at its supermarkets and bottle shops have gone backwards.
Lend Lease profit falls as expected
Property group Lend Lease has posted a 46.7 per cent fall in annual profit and says it has begun a global search for a successor to chief executive Greg Clarke.
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.