Babcock CEO, Chairman Step Down
August 21, 2008
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.
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.
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 & Brown 'set to meet guidance'
Investment group Babcock & Brown says it is on track to meet its full year earnings target.
Babcock still has its tickets
And Michael Evans has a special friend he likes to call Mr Snufalufagus.
Babcock quiet on sell-off
Babcock & Brown has refused to confirm whether Goldman Sachs JBWere and Deutsche Bank have been named independent advisers.
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 & 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.
Embattled Babcock & Brown Makes Big Rail Deal
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.
Margin Lenders Cap Funding to Babcock
Three margin lenders stopped funding purchases of Babcock & Brown shares after a sharp drop in the firm's market value.
Babcock Wins Reprieve From Lenders
Babcock & Brown's lenders removed a debt clause and waived their right to review its ability to repay $2.7 billion in loans.
Babcock struggles with banks
Troubled investment firm Babcock & Brown has begun meeting with its bankers, as it goes ahead with asset sales.
Babcock denies default
Shares in Babcock & Brown rally after the troubled group says it is not in default or breach of its banking covenants.
Babcock extends share plunge
Babcock & Brown, Australia's second-largest investment bank, plunged further, falling as much as 24% in early trading.
Funds 'not affected' by Babcock review
Two satellite funds managed by besieged investment house Babcock & Brown said the review affecting their parent did not affect them or their debt position.
Australian investment firm Babcock & Brown faces potential lender review
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 deal to buy Britain's Angel Trains.
Australian investment firm Babcock & Brown faces potential lender review
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 rising concerns over debt and tight global credit markets.
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.
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...
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.
B&B units fall after parent enters...
Shares in Babcock & Brown units fell in early trading after the investment bank requested a trading halt for the parent company.
Babcock & Brown Sinks 24%
Babcock & Brown said its directors will consider changes to its management and board Thursday amid speculation it will replace its long-serving CEO, after its stock fell 24% on...
Babcock & Brown expects lower annual...
Australia's second largest investment bank Babcock & Brown Ltd. on Monday downgraded its profit guidance for the calendar year and forecast a fall in first-half earnings.