Five Australian banks are among 18 defendants named in a lawsuit brought by a pair of US hedge funds that centres on allegations of manipulating short term interest rate benchmarks. read more
Professional services (297 items)
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Settlement anticipated in ANZ Oswal row
A long running legal wrangle between ANZ and wealthy Indian couple Pankaj and Radhika Oswal may have reached the state of an in principle settlement, or so the Financial Review and AAP reported late yesterday. read more
Muted response to banks' ACCC mobile wallet application
The deadline for submissions to the Australian Competition and Consumer Commission from interested parties on the application by a group of banks to bargain collectively with third-party mobile wallet providers has passed with only six submissions filed. read more
Brisconnections hangs over Macquarie Bank
Project finance deals, put together by investment bankers to fund toll roads and tunnels in the pre-financial crisis decade, continue to unravel in the courts. read more
One Bankwest class action rolling
JustKapital, an ASX listed litigation funder, will be the financier for a class action bought against Commonwealth Bank in connection with its alleged malfeasance over management of many Bankwest business loans. read more
Briefs: UniBank enters the broker market, BDO changes tack on bank debts, ANZ to issue new hybrid securities
Teachers Mutual Bank subsidiary UniBank has entered the third party distribution market. read more
Slide in ATM use accelerates
The long-term decline in ATM usage gained momentum in the year to June. read more
Briefs: Genworth chair to retire, Finsia and Monash launch MBA scholarship
Richard Grellman, who has been the chair of Genworth Mortgage Insurance Australia since 2012, will retire at the end of the month. read more
Brief: Visa launches API competition, FlexiGroup sale rumours
Visa has launched its Everywhere Initiative in Australia and New Zealand, inviting start-ups to use its application programming interface to develop new payments ideas. read more
City businesses on the brink
Any acceleration in loan defaults by business may be concentrated in city centres and urban areas, a study by accounting firm SVP Partners suggests. read more
Online property exchange transactions hit $20 billion
More than $20 billion in value has been transacted through Property Exchange Australia since it went live in Victoria in June 2013, and then expanded to include most states in Australia. The PEXA network allows property transactions to be completed electronically from start to finish. read more