Profits fall for Australia's Fairfax

Australian's second-largest newspaper group, John Fairfax, reported a 2.7% fall in its half-yearly profits amid tough conditions. Despite having made acquisitions to deter potential predators it is still seen as a possible takeover target when the country's media ownership rules ease later this year. But its ceo, David Kirk, says the company has not received any approaches. The New Zealand Herald claims that the Fairfax losses are a sign of New Zealand's "weak economic conditions". (Via Reuters)