Asset Sales for Macquarie Airports
August 20, 2008
Macquarie Airports unveiled asset sales and a $872 million security buyback that market participants say is effectively a partial privatization reflecting a less-benign environment for listed infrastructure funds.
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.
Macquarie Airports post loss of $274m
Macquarie Airports (MAL) has delivered a half year net loss of $274 million, but says the outlook for the rest of the year is solid.
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.
Macquarie Airports slips into loss
Macquarie Airports reports a first-half loss as financing costs and a huge adviser's fee weigh down the the bottom line.
ASX high at noon as Wall St soars
The Australian stock market was up at noon as News Corporation Ltd reported robust fourth-quarter and full-year results.
08/06/08
Similar news about ANZ Bank
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.
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.
Local punters moderate losing streak...
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,...
08/20/08
Similar news about Crown Ltd.
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.
Wesfarmers denies buying a bad apple
THE managing director of Wesfarmers has denied that earnings at its supermarkets and bottle shops have gone backwards.
Wesfarmers expecting solid growth
Coles owner Wesfarmers has delivered a 33.6 per cent rise in annual profit and expects solid growth again this year despite a tougher economic environment.
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.
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.
MacAirports sees only limited impact from fuel prices
Macquarie Airports said airline capacity reductions due to a higher oil price would have a limited impact as traffic grew by 7% across its airports in May.
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.
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.
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...
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.
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.
Telstra executive Burgess to resign
Telstra's head of public policy and communications Phil Burgess is leaving the company and will return to the US, due to illness in his family.
Woolworths rejects offer by Iceland...
Woolworths has rejected a surprise offer to acquire its retail division by Malcolm Walker, chief executive of the frozen food specialist Iceland.