Latest news (24,764 items)

Qantas defends credit card surcharge

Qantas thinks it is on safe legal ground when it fails to disclose the one per cent surcharge that applies to credit card purchases made over the internet. The surcharge came into force on Tuesday. read more

RentWorks tops finance co profits

Australia's most profitable finance company may also be one of its least scrutinised. RentWork's, a provider of commercial equipment finance and lease, took its time filing its June 2002 accounts with the Australian Securities and Investment Commission, but the financier's reported earnings for that period are an interesting read. read more

Wizard breaks $1 billion barrier

Non bank lenders continue to thrive in the fast growing home loans. Wizard says that it expects home loan approvals in June 2003 for Wizard and Australian Mortgage Securities to be between $1 billion and $1.1 billion in the month, which would be the first time the lender has exceed the $1 billion mark in a month. read more

Business loan growth crawls

It's still a different credit story within business banking. The Reserve Bank data shows that growth in business loans declined to nil in May 2003 from growth of 0.1 per cent in April. read more

Cashcard closes Direct Cash takeover

Cashcard yesterday finalised the purchase of ATM deployer Direct Cash. Cashcard paid more than $30 million, in cash, for the Melbourne based group. There is no earn out component to the deal, nor any shares in Cashcard as part of the payment. read more

NAB & Fly Buys & Coles

National Australia Bank and Coles Myer yesterday issued an announcement that they'd agreed to persist with, and reinvest in, the Fly Buys rewards program. However, neither party provided any more details, did not return calls and don't seem to have provided much guidance elsewhere about what the parties have in mind. read more

Qantas stumbles on card surcharge

Qantas began imposing a one per cent surcharge on credit card purchases yesterday but seems to have mucked up the implementation of the charge. Qantas does not advise customers of the imposition of the surcharge when booking flights over the internet. read more

Few redeem Diners Club rewards

A Diners Club press release issued yesterday provides a small window into the performance of the Citigroup-owned charge card system in Australia. read more

Maddox replace Dawson at Bankcard

Don Dawson, general manager of Bankcard is soon to retire. His replacement as head of the legacy brand in the Australian card market is Garry Maddox, who took over from Dawson yesterday. read more

NZ Commerce Commission reviews interchange

New Zealand's Commerce Commission is to undertake a wide ranging examination into credit and debit card interchange in an echo of the detailed reviews of interchange arrangements in Australia. The Commerce Commission will also study the setting of merchant service fees. read more

Suncorp sticks to banking

Suncorp's five year strategy, detailed at an investor presentation, is basically the same as before, with some minor tweaks on the banking side plus lots of rhetoric pitched at the sceptics in the investment market, especially among the sell-side analysts. Key features include: read more

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