Macquarie vies for $2.4b German gas storage firm
Macquarie Group, 3i Infrastructure and Deutsche Bank's RREEF fund plan to submit separate offers for the oil and natural gas storage unit of Germany's IVG Immobilien AG.
Nasty, brutish and short
The life of a short-seller is a hard one?especially when markets turn sour and people look for someone to blameIT IS difficult being a short-seller. Most shareholders and managers agree that you are an important part of an efficient stockmarket?until you dump shares in their company. Then things can turn nasty. ?We appreciate that, asshole,? barked Enron's chief executive, on a public conference call, to a suspected short-seller who had complained about the lack of a published balance sheet. Sometimes bears need even thicker skins. In 1995 Malaysia's finance ministry reportedly proposed caning as a punishment for abusive shorting.Since markets turned sour last year, plenty of financial firms, from Bear Stearns and Lehman Brothers in America, to Babcock & Brown and Macquarie Group in Australia, have seen increased shorting. A few have grumbled about unfair speculation. In February MBIA, an embattled bond insurer, complained to a congressional committee that ?self-interested parties have gone to substantial effort to undermine the market confidence that is critical to MBIA's business?. Yet the regulatory response was muted until Britain's Financial Services Authority (FSA), a City watchdog, abruptly announced new disclosure rules for anyone short-selling the stock of companies in the delicate process of issuing shares to raise capital. If market abuse does not stop with this new regime, due to come into force from June 20th, the FSA will take further steps. Since it intervened, British banks raising emergency capital have seen their shares rise. ...
From Green into the red
The former chief executive of Babcock & Brown failed to change methods to suit the market madness, writes Danny John.
Leighton wins Australia's largest...
Leighton Holdings and Macquarie Group have won the $4.8b contract for Australia's largest road infrastructure project.
Investor urges Challenger to shut...
Challenger Infrastructure Fund's second biggest shareholder has called for the underperforming vehicle to be wound up and its assets sold.
MacBank in shorters' crosshairs
Hedge funds are playing a high-stakes tug of war in Macquarie Group shares.
The long and short of selling comes...
Do short-sellers know something about Macquarie Group the market doesn't?
Kill the competition: Britain shrinks...
Welcome to today's round-up of business news from The Times: what we're
saying, what they're saying
Fidelity dumps stake as B&B awaits debt verdict
BABCOCK & BROWN has lost two substantial shareholders in the past fortnight, despite the company receiving a welcome reprieve yesterday with a share price bounce of 13 per cent.
Macquarie, Babcock Weigh Privatizing Funds
Macquarie and Babcock & Brown took steps that could signal a further retrenchment of their funds from public markets, the latest sign of investor skepticism over their business model.
Babcock CEO, Chairman Step Down
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 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 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.
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.
ASIC to ASX: please improve
The investment regulator overseeing the Australian Securities Exchange has called for improvements, even as it signed off on the ASX's regulation during the turbulent first...
08/14/08
Similar news about ANZ Bank
Brisbane Airport Link to be floated
The winning consortium for the Brisbane Airport Link will begin to float the infrastructure project on the Australian stock exchange for $1.2 billion.
Asia stocks fall, pare losses as central banks act
Asia stocks tumbled further Thursday, tracking declines Wall Street as investors feared more companies could succumb to the financial crisis that forced the U.S. government to bail out insurer American International Group Inc.
An early spring cleaning
Delicate Michael Evans breaks into a sweat at the sight of a feather duster.
Keybridge branches into funds management
Keybridge Capital is going into funds management and has forecast fiscal 2009 earnings growth of as much as 32 per cent after trebling its 2008 net profit.
Safe haven turns sour
It's a case of broken trust, as property fund investors find their funds were geared up to risky levels and sunk into overseas ventures.
Macquarie model blowtorched
Investment advisers RiskMetrics has delivered a stinging rebuke to Australia's infrastructure sector, and in particular, the Macquarie model.
Investors drive up stocks as cheaper...
INVESTORS yesterday regained some faith in financial stocks and in companies that are heavy users of oil, helping the sharemarket to a welcome rise from an almost two-year low...
07/09/08
Similar news about Qanta Airways
Metals push stocks up
Australian stocks open higher after the price of metals including copper and gold gained overnight.
Consensus urges Challenger to wind fund
UK based Consensus Business Group has urged Challenger Financial Services Group Ltd to wind up its underperforming listed infrastructure fund.
Banks boost local stocks at noon
The Australian share market was higher at noon, boosted by financials and the prospect of another interest rate cut in the United States later on Tuesday night.