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.

Fairfax discusses margin call risk

THE Fairfax Media board has discussed the implications of a margin loan over 159 million shares held by the director John B. Fairfax, but yesterday made no announcement to the market on the issue.

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 books $387m annual net profit

Fairfax Media Ltd lifted its annual by nearly 47 per cent following its 2007 merger with Rural Press, and says ad markets have slowed going in to the new year.

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.

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.