Latest news (24,861 items)

Direct Cash confirms Cashcard discussions

Adrian Field, a director and shareholder of Direct Cash, yesterday confirmed that discussions were in train for a sale of the Melbourne-based automatic teller machine deployer to Cashcard. read more

APRA board shown the door

The board of the Australian Prudential Regulation Authority, which regulates banks and insurers, is to get the chop, as the federal government adopts a recommendation of the HIH Royal Commission to replace the APRA board with an executive commission, along the lines of that which governs the securities regulator ASIC, or the competition watchdog, ACCC. read more

Wallis recommendations overlooked

Neville Owen's plan to axe the APRA board is a surprise. The Financial System Inquiry, which reported in 1997, was anxious to ensure that the heads of Reserve Bank and the Australian Securities and Investment Commission were directly represented on the board of APRA. read more

Cashcard buys Direct Cash

Payments processor Cashcard will extend its leadership of the off site automatic teller machine market, with an agreement near for the purchase of DirectCash. read more

Newsagents tackle bill payments

Newsagents will embark on a further attempt to provide services at the edge of banking, with plans to introduce a bill payments service in the second half of the year. The Australian Newsagents Federation will pilot a service, to be known as "bill express", from June. read more

CBA pick up TD Waterhouse

Commonwealth Bank will cement their dominance of the low value end of the stockbroking market, reaching agreement with Toronto-Dominion to buy the Canadian bank's loss making broking operation in Australia, TD Waterhouse. read more

ANZ cards hires Shane Buggle

ANZ Bank appointed Shane Buggle, from the Society of Certiifed Practicing Accountants, as chief financial officer for the bank's consumer finance business. read more

Keycorp breakup on cards

A break up of terminals manufacturer, smart cards play and Eftpos processor and Keycorp may be under consideration, as the company's board negotiates the sale of the terminals and smart card business to a Malaysian consortium. read more

Catuity promises blue sky

Directors of smart card play Catuity remain optimists about the outlook for the chip card sector, with executive chair David Mac Smith assuring investors in the annual report that, "it is not a case of ‘if' we will achieve substantial success and profitability but ‘when'." read more

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