Latest news (24,977 items)

ACCC considers Eftpos changes

The Australian Competition and Consumer Commission is still to decide on the application by the main retail banks to collectively set Eftpos interchange fees, and to reduce those fees to zero. Banks lodged that application with the ACCC in March. read more

APCA resists retailers, oil industry over Eftpos access

The Australian Payments Clearing Association is resisting lobbying by retailers and the oil industry for additional representation on the working group that is looking at questions of access to Eftpos. The working group is drawn from members of APCA's consumer electronic clearing system, which looks after technical standards on the Eftpos and ATM networks, together with representatives from the CECS Advisory Council, an existing forum that includes selected representatives of major merchants. read more

Virgin Money debuts in top 10 financial sites reports an alternative measure of judging the level of interest in Westpac's Virgin credit card. The newsletter reports that research company Nielsen NetRatings estimated unique visitors to the sites and exceeded 300,000 in the first month of being live, making Virgin Money one of the top 10 financial sites in Australia. read more

Lloyds starts National Bank NZ review

Lloyds TSB overnight finally confirmed what's otherwise been known for weeks, which is that the British bank is thinking of selling National Bank of New Zealand, and that the review is due to "approaches" by other banks that want to buy the business. read more

LIST profits from mezzanine loans

A further capital raising by the fast growing Leveraged Investments and Securities Trust highlights the above average profits to be made from short term investment in short term, mezzanine loans to property developers. read more

ANZ locks in term debt

ANZ Bank may be sending a message to the market about its views about interest rate levels, with a decision to significantly lift its long term borrowing plans this year from $7 billion (foreshadowed in February) to $12 billion. read more

Members Equity securitises management fees

Members Equity has maintained its capital by securitising $18.5 million in management fees from an earlier mortgage securitisation. Members Equity raised the capital in a private placement through National Australia Bank. read more

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