Babcock CEO, Chairman Step Down
August 22, 2008
Babcock & Brown's top executives stepped down after the Australian investment firm posted a 30% drop in first-half net. Shares hit a record low.
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.
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 still has its tickets
And Michael Evans has a special friend he likes to call Mr Snufalufagus.
Babcock & Brown 'set to meet guidance'
Investment group Babcock & Brown says it is on track to meet its full year earnings target.
Babcock opens self-help books ahead...
BABCOCK & Brown Communities will look at all possibilities to push its ailing share price closer to its underlying asset value as part of a strategic review.
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.
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.
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 quiet on sell-off
Babcock & Brown has refused to confirm whether Goldman Sachs JBWere and Deutsche Bank have been named independent advisers.
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.
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 denies default
Shares in Babcock & Brown rally after the troubled group says it is not in default or breach of its banking covenants.
Babcock struggles with banks
Troubled investment firm Babcock & Brown has begun meeting with its bankers, as it goes ahead with asset sales.
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.
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.
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.
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.
Red Wings reward Babcock for winning...
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...
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.
Lend Lease revealed as BBC mystery buyer
Property giant Lend Lease Corp today revealed itself as the mystery buyer that seized a 6% stake in Babcock & Brown Communities (BBC).