Latest news (24,867 items)

Ford Credit profit declines

Ford Credit Australia Ltd, one of the country's largest (if in house) finance companies, recorded a decline in profit in 2002. read more

No fire sale for Leigh-Mardon

There are already more than half a dozen expressions of interest in the purchase of security printer and secure transactions group Leigh-Mardon though the company and its bankers want the market to know that if buyers won't pay fair value, then the lenders will simply swap their debt for equity and hold onto the group. read more

Trade buyers prompt LM sale

Leigh-Mardon's $80 million debt has been a burden to the group for more than four years, with the banks providing latitude to their customer in the form of interest rate relief for about two years. However, the debt was due for repayment in full in mid 2004, with payment of some of the principal due in mid 2003. read more

LM turned down sub-contract to supply CBA cards

Leig-Mardon may have won some important contracts (for example, with National Australia Bank and Westpac), but its also lost them recently– the passport printing contract for the Australian government being one, and the cards personalisation work for Commonwealth Bank another. read more

Banks take a loss on Leigh-Mardon

Bankers to troubled security printer and credit and debit card manufacturer Leigh-Mardon will finally crystallise a loss on their loans to the company, as Leigh-Mardon's management chase a buyer for the business. read more

ANZ may double Asian investment

ANZ Bank has amplified its investment plans in Asia, revealing yesterday that it may invest between five and 10 per cent of its capital in Asia "over time". The bank disclosed this estimate in a stock exchange announcement that otherwise confirmed media reports from Bangkok earlier this week that ANZ was considering an investment in Thai Military Bank. read more

Credit card growth declines in February

Growth in key indicators in the credit card market fell in February 2003, relative to January 2003 and to February 2002, in a sign of the progressive maturity of credit cards as a payments product. read more

Spending shifts to credit from debit

Michael Ebstein, principal of MWE, notes that he decline in the value of purchases on credit cards in February was much less pronounced than the decline in spending on debit cards. read more

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