Latest news (24,878 items)

Newsagents to pilot bill payments in two months

Cathie Trezona, project director at the Australian Newsagents Federation, says the pilot for the bill payments service will kick off in a couple of months, but declines to go into the details or confirm the business arrangements in place for the project. read more

Visa seeks settlement of Wal-Mart case

Visa International may follow the lead of MasterCard and settle a class action bought in the US by thousands of retailers. A US district court overnight postponed opening arguments in the action saying the two sides were working toward a settlement. The rescheduled the opening of the case to Friday. read more

MasterCard settlement details confirmed

Though details of the settlement that MasterCard reached with the retailers on Monday still are not public, the terms are being circulated to retailers in the class action. read more

Business lending stronger, but still soft

Reserve Bank data on lending activity for April 2003 shows that growth in lending for business recovered in the month, while the rate of growth of consumer lending fell back. read more

ERG share issue uncertain

ERG shareholders yesterday approved the conversion of debt to equity that will dilute their stake to 35 per cent and hands control to convertible note holders, of which the funds grouped under the Ingot entities tied to Duncan Saville are the most significant. read more

Basel II encourages revolving credit

The latest draft of the revised global framework for regulation of banks from the Bank for International Settlements may encourage banks to favour revolving credit, such as credit cards, over conventional personal loans. read more

BankWest buys API Finance

Bank of Western Australia has added more weight to its efforts to develop its commercial banking business, with the purchase of API Finance from Australian Pharmaceutical Industries and agreement on a broader alliance with the wholesale distributor. read more

Banks target pharmacy sector

Pharmacies are a popular sector for all banks, having been singled out as a priority for growth of business banking activities by many banks often ranked alongside sectors such as aged care, private hospitals, private schools and retail. read more

MasterCard debit damages estimated at US$1bn

Reports in US media concur with the speculation that MasterCard agreed to drop the honour all cards rule as part of the settlement of the class action by Wal-Mart and other retailers. The reports also suggest that MasterCard will lower fees on its debit products. read more

New counsels at ANZ, CBA

Two prominent corporate lawyers will switch from top tier law firms to become general counsel at Commonwealth and ANZ banks. read more

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