Latest news (24,989 items)

Collection House relies on purchased debt

Debt collection agency Collection House relied on higher returns from its purchased debt business to drive profit growth in the half year to June 2003, though still well below the robust profit recorded in the previous year. read more

Cabcharge flattens

Margins are narrowing at tax payments provider Cabcharge, where the increased use of bank debit cards and credit cards notably Visa cards after being frozen out of the system for many years is displacing payments from Cabcharge's own payment card and docket system. The profit, and revenues, are somewhat seasonal, while the company is incurring costs growing by expansion in Australia and also in Singapore and Britain (though the company has not provided any financial details on its international operations. Rather strangely, the short accounts filed yesterday with the ASX state that the company only operates in Australia, which it doesn't. read more

Home's loan arrears double

Home Building Society's profit improved in the second half of the 2003 financial year. But the Perth based bank's profit discloses a couple of dark clouds. The bad news first. read more

Visa fraud stings Home

Home also ran into strife managing its Visa card business, with the bank stung by a $576,000 fraud. read more

MasterCard, GE crash through with Coles card

MasterCard, GE Capital and Coles Myer have opted to press ahead the planned launch late next month of a co-branded Coles Myer MasterCard, in spite of apparent contractual difficulties between Commonwealth Bank and MasterCard. read more

Customers buy ATM Express

Listed venture capital company Customers Limited has invested in the automatic teller machine market, taking a 50 per cent stake in ATM Express. read more

Westpac lift game on Virgin card

Westpac is getting its act together processing applications for the bank's Virgin Money branded MasterCard, but is still dealing with a significant backlog of applications for the card. read more

Westpac gains share in credit cards, business loans

Westpac continues to grow its loan book in Australia at 1.5 times system credit growth (measured over 12 months), which is a strange outcome to the extent that the bank is falling behind the market in the supercharged home lending segment. read more

Keycorp weakens in second half

Keycorp continues to battle its way toward sustainable profits and a sound balance sheet, with the company reporting flat revenues in the second half of the financial year, continuing losses from the sale of payment terminal and smart cards, and lower profits from its other business divisions. read more

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