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Sub prime investments drive Record profit
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21 February 2003 12:00amRecord Investment, the specialised lease financiers, fund manager and investor in sub prime and distressed debt is starting to find its feet. In the six months to December 2002: » read more »
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Selwyn costs BankWest $10ml
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21 February 2003 12:00amBankWest's full year profit looks like being a disappointment, and not just because the bank will take a $10 million charge for a bad loan arising from the overstated gold reserves of its customer, Selwyn Mines. » read more »
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Qantas defers surcharge to July
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21 February 2003 12:00am
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NAB's McNamara joins HSBC
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21 February 2003 12:00amGraham McNamara, head of syndications at National Australia Bank, is leaving to join HSBC. McNamara will head syndications for the British bank in its Sydney office. » read more »
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Wizard clarification
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21 February 2003 12:00amPaul McMahon, chief financial officer for Wizard Mortgage Corp, points out that the EBIDTA figures for Wizard used in last Monday's report are misleading. » read more »
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Wizard trading ok
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21 February 2003 12:00amAsked about trading conditions in early 2003, Paul McMahon said, "our volumes exceed our corresponding period last year. We're not seeing any sign of a drop in demand. » read more »
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Goldman negotiates for control of Were
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20 February 2003 12:00amGoldman Sachs is negotiating once more for a controlling stake in the JB Were group. The AFR reports that the JB Were partners will consider a revised offer from Goldman this weekend, which is said to value the privately held investment bank at between 1.3 times and 1.5 times net assets. » read more »
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Debit makeover divides Visa, issuers
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20 February 2003 12:00amVisa is quietly working on an alternative payment product for its regional bank, building society and credit union members, a product that may replace the "Visa Debit" card that used as an alternative to the more common Eftpos debit card by more than three million customers. » read more »
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Visa Debit issuers drag chain over interchange review
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20 February 2003 12:00amAfter some warnings in 2001 and the observation that interchange arrangements for Visa Debit "has no place in Australia's payments system" - the Reserve Bank largely left Visa and its members to manage their own discussions over how to reform the system. » read more »
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Visa Debit a half way house
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20 February 2003 12:00amThe fourth, and sometimes forgotten, stream in the drawn out debate in Australia over interchange reform, Visa Debit is a payment card that behaves a lot like a mainstream bank Eftpos card. (The others being credit cards, Eftpos and ATM interchange). » read more »
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Keycorp in the black
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20 February 2003 12:00amKeycorp reported a profit in the six months to December 2002, after a year of writing down goodwill, selling off most manufacturing assets, reducing inventory, paying down debt and otherwise cleaning up its balance sheet. The highlights: » read more »
