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.
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.
Shares down, B&B slumps
Shares fall, with Babcock & Brown in a tailspin, losing as much as 15% of its share price.
Australian stocks lower at noon
The Australian share market was lower at noon by less than one per cent, with utilities and financials the main laggards.
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.
ASX edges higher as oil and gold rises
The Australian share market nudged a little higher after closing relatively flat last week as gold and oil prices rose.
Aussie sharemarket closes stronger
The Australian share market closed moderately stronger driven by an improvement in financial stocks and a positive lead from Wall Street.
Field placings for the rebound
Wall Street started to show a bit of life last week; the first in a while, and for a moment there the financials bounced and all those stocks that have been hammered by a higher...
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.
Changes in shareholdings
Perpetual Ltd ceased to be a substantial holder in Platinum Australia Ltd on July 4.
07/08/08
Similar news about ANZ Bank
Metals push stocks up
Australian stocks open higher after the price of metals including copper and gold gained overnight.
Wall Street leads shares into the red
THE sharemarket closed more than 1 per cent lower yesterday, weighed down by financial stocks after setbacks on Wall Street overnight.
Aussie stocks higher, led by resources
The Australian share market closed firmly in the black, driven by the resources sector after the commodities index recorded its biggest weekly gain in 33 years.
Aust stocks up moderately at noon
The Australian share market was up moderately at noon as the metals & mining and energy sectors lifted, but utilities fell.
ASX close flat as bank gains offset
The Australian share market closed flat as a rally in banks and property trusts, triggered by a positive US lead, offset falls in mining and energy stocks.
Babcock Wins Reprieve From Lenders
Babcock & Brown won a reprieve from its lenders, which removed a market capitalization clause attached to its debt facility and waived the right to review the asset management firm's ability to repay $2.67 billion in loans.
Babcock seeks debt reprieve
Babcock & Brown will seek a reprieve from its bankers over the review of a $2.8 billion debt facility that was triggered by the collapse in its share price.
Financials lead Australian stocks higher
The Australian stock market was higher at noon, led by the financial sector and a strong US lead.
Stocks lower after US slide
The sharemarket is weaker after US stocks fall after lacklustre economic news on the housing market and the factory sector dampens investor optimism.
Aussie stocks lower on weak US lead
The Australian sharemarket was weaker at noon after US stocks fell overnight.
Base metals lead market into the red
THE sharemarket was dragged into the red by mining giants Rio Tinto and BHP Billiton, which fell heavily in response to lower base metals prices overnight.
Banks pull shares higher
The Australian share market opens higher after US stocks gain as the Federal Reserve keeps interest rates unchanged.
Battered stocks pare back losses
THE sharemarket recovered from earlier losses yesterday but still ended marginally in the red - taking its lead from a rout on Wall Street over the weekend.
Market ends in sea of red as crude...
The sharemarket closed firmly in the red yesterday, with losses across all sectors after lower crude oil prices and continuing concerns about the state of credit markets.
Resources pulled down by oil slide
The Australian sharemarket closed weaker yesterday as lower prices for oil and base metals pulled back the global miners BHP Billiton and Rio Tinto.