ASX closes lower after financials fall
August 21, 2008
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 & 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.
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.
Babcock plunges further
Babcock & Brown, Australia's second-largest investment bank, plunged further, falling almost a third in early trading.
Australia approves Chinalco's stake...
Australia has approved Aluminum Corp. of China Ltd.'s stake in miner and takeover target Rio Tinto Ltd., Treasurer Wayne Swan said Sunday.
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.
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...
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.
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 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 & Brown Financing Deal Stiffs Short-Sellers
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 covenants.
Qantas jumbo to debut in October
Qantas has confirmed its new A380 super jumbo will make its debut flight for paying passengers on October 20.
Turmoil for Qantas as craft grounded
QANTAS yesterday grounded a 747 aircraft because a crucial piece of equipment needed urgent maintenance, leaving the plane's tail at risk of breaking away.
Australian regulator announces...
AFP - Australian civil aviation officials on Sunday announced an unprecedented special review of Qantas after three mid-air dramas in the space of two weeks threatened to...
Australian regulator announces...
AFP - Australian civil aviation officials on Sunday announced an unprecedented special review of Qantas after three mid-air dramas in the space of two weeks threatened to...
Qantas reports strong fare sales in US
Qantas is reporting strong fare sales to US tourists and business travellers, despite a fortnight of bad press.
Babcock & Brown denies being in default
Babcock & Brown, which lost almost half of its market value last week, reiterates it is not in default.
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.
Rio Tinto to invest $2.15 bln in Brazil iron ore mine (AFP)
AFP - Anglo-Australian mining giant Rio Tinto announced Wednesday that it will invest 2.15 billion US dollars in a major expansion of its iron ore mine in Corumba, Brazil.
Qantas names Jetstar's Joyce to...
Reuters - Qantas Airways Ltd said on
Monday Alan Joyce will take over as chief executive, taking the
baton from Geoff Dixon who steps down after a string of belt
tightenings...
Qantas names new chief
Qantas names Alan Joyce, the head of its Jetstar offshoot, as chief executive of the airline group.
Qantas CEO retires, replaced by...
Reuters - Qantas Airways Ltd Chief
Executive named Alan Joyce as its new chief executive on
Monday, with Geoff Dixon retiring after eight years heading
Australia's largest...
Qantas Probe Focuses on Cylinder
Investigators suspect that an oxygen bottle exploded and punched a 9-foot-long hole in the fuselage of a Qantas jet. Now, Boeing is considering stepped-up inspections of such...
Qantas jet lands with gaping hole in...
AP - The 346 passengers were cruising at 29,000 feet Friday when an explosive bang shook the Qantas jumbo jet. The plane descended rapidly. Oxygen masks dropped from the ceiling...
Qantas jet lands with gaping hole in...
AP - The 346 passengers were cruising at 29,000 feet Friday when an explosive bang shook the Qantas jumbo jet. The plane descended rapidly. Oxygen masks dropped from the ceiling...