Latest news (24,769 items)

Borrowing binge rational, Reserve concludes

A discussion paper by researchers at the Reserve Bank of Australia offers a new analysis of the escalation in the household debt ratio and thus the property boom the borrowing binge is being undertaken by households that can afford to borrow more, and thus is rational. read more

HPAL profit slides

HPAL Limited, the Kodak-controlled but listed "business process outsourcer" yesterday disclosed a deterioration in its earnings in the June 2003 quarter. The company usually operates in the local market under the name of Hermes Prescia. The highlights: read more

AmEx doubles NZ rewards

American Express is seeking to carve out a select slice in New Zealand's credit card market with the introduction of an expensive "platinum" product that delivers much more generous rewards to card holders than other credit cards in the NZ market. read more

LIST capital raising falls short

The listed high yield property financier managed by McLaughlin Financial Services succeeded in raising only one third of the capital it hoped to under a rights issue. The MFS Leveraged Investment and Securities Trust raised $6.3 million under a non renouncable rights issue, taking LIST's assets to $47.3 million. About half of shareholders contributed capital under the rights issue, but the largest shareholder, a super fund which holds 14.6 per cent of LIST, took up few of its rights. read more

CUA profit lags lending boom

Credit Union Australia's core home lending business is firing amid the property bubble, but its profits are not, with the Queensland-based bank recovering in profit in 2003 the ground that it lost in 2002. read more

National enters low doc market

National Australia Bank will try to gain a foothold in the fast growing "low doc" segment of the home loan, with the introduction of a reduced documentation loan, offered to mortgage brokers through the bank's HomeSide Lending channel. read more

Commonwealth tackles bill payment market

Commonwealth Bank plans to develop an over the counter bill payment solution, and so enter a market segment attracting a range of hopefuls trying to steal business from Australia Post, and which in any event is a shrinking market as more payments are paid through phone banking or over the internet. read more

Touchcorp strains under growth

One of Commonweealth Bank's partners in the XPOS system, Touchcorp, may be experiencing growing pains as it starts to build momentum in its vending and payments business. read more

Ingot lightens ERG load

One of the four funds connected to ticketing and payments provider ERG Group's newest director, and dominant shareholder, Duncan Saville was a significant seller of the company's share last week. read more

Convenience drives independent ATM boom

The business case for independent owners of automatic teller machine networks received a boost yesterday from revised Reserve Bank of Australia data on the retail payments market, which points to a sustained shift in ATM use toward so-called foreign ATM transactions. read more

Reserve revises measure of payments market

The Reserve Bank has substantially revised and extended its statistical series on the retail payments market, with the new series published yesterday. The new series revise the coverage of data series that seek to monitor patterns of use of debit cards, credit cards, charge cards, ATM transactions and direct entry. read more

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