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The Australian Financial Review, 20 November 2008, Brendan Swift, p.1
Embattled investment bank Babcock & Brown (B&B) will sack 850 employees and offload about half of its total assets in a bid to cut its A$3.1 billion debt burden. B&B, which faces the risk of breaching its banking covenants because of falling asset values, on Tuesday met its banking consortium to discuss its latest moves.
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