Latest news (24,991 items)

AmEx plays hard on points

American Express is seeking to make life harder for banks thinking about reducing the value of credit card rewards, by taking the opposite approach and making card rewards more generous. read more

Loscam fails GE hurdle

The pallets business is pretty far removed from banking and payments, but, since the company formerly known as Loscam and now known as GE Returnable Packaging Systems is owned by GE Capital, its fortunes squeeze into this newsletter for a second time. read more

APCA may not specify an Eftpos access regime

The Australian Competition and Consumer Commission's draft determination on the application by 12 retail banks to set Eftpos interchange at zero provides a few leads on the Australian Payment Clearing Association's separate, but linked, application to renew authorisation for "consumer electronic clearing stream" under which APCA sets technical standards for participation in automatic teller machine and Eftpos networks. read more

Reserve recommends policing role for APCA

The ACCC have also summarised the Reserve Bank's otherwise still unpublished submission on Eftpos access, made in the context of the Australian Payment Clearing Association's application to reauthorise the consumer electronic clearing stream. read more

Nationale, Tonto ride home loan boom

Nationale Limited, one of the lenders fuelling the outer reaches of the property boom, is set to refinance $350 million worth of loans in the mortgage-backed bond market, and the Standard &Poor's pre-sale report on the bond sheds light on the lending practices of Nationale. read more

HBOS warns intsos on BankWest offer

HBOS plc chief executive James Crosby lobbed a great letter into the stock exchange news feed yesterday, written to rebut the bleating by some institutional investors over the scheme of arrangement under which HBOS proposes to take out minority shareholders in Bank of Western Australia at $4.25 a share. read more

Bendigo starts to reap rewards

Bendigo Bank is showing signs of extracting half way decent returns from five years of investment in growing its retail banking franchise outside Victoria, and from starting to make a greater effort in product lines such as business banking and cards. read more

Bendigo arrears rise

Bendigo Bank's level of loans past due by 90 days or more has taken a significant but notional leap, to $47.2 million at June 2003, up from $13.9 million at December 2002 and $15.4 million at June 2002. read more

Bendigo grows business loans

Though starting from a low base, Bendigo Bank is making ground in business banking. The bank says that business loans increased by 9.7 per cent to $1.45 billion at June 2003 over December 2002, and up 16.7 per cent over June 2002,or a rate of growth that's about three times that of all banks for the full year. read more

MasterCard profit down

MasterCard Inc returned to the black in the June 203 quarter, with a net profit of US$50.0 million in the quarter, compared with a pre tax loss of US$425 million in the March 2003 quarter, and a pre tax profit of US$56.3 million in the June 2002 quarter. read more

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