Latest news (24,878 items)

Retailers line up against Eftpos reforms

Big merchants are the prime source of opposition of the banking sector's attempt to reduce interchange fees on Eftpos payments to zero, while the consumer lobby though supportive wants additional controls and undertakings relating to fee reductions, access, and reviews. read more

Consumer lobby seeks extra Eftpos controls

The Australian Consumers Associations contends that banks have a poor record of passing on cost savings, and want the ACCC to seek undertakings from banks that they will pass on the savings. The consumer lobby also wants the ACCC to engage in price monitoring, and to adopt a formal review process. read more

MoneySwitch to tackle Eftpos acquiring

A potential entrant to the acquiring side of the debits market has emerged. MoneySwitch, a company incorporated in February this year and headquartered in offices in McMahons Point in Sydney, explained its mission in a submission to the ACCC on Eftpos reform. read more

Resimac chases capital

Mortgage funder and now aspiring mortgage broker Resimac is looking for more capital, in the wake of a shareholder agreement to buy back a quarter of the company's shares from one foundation shareholder, the state of New South Wales. read more

Liberty reports a partial profit

Accounts for two companies in the Liberty Financial group provide a window into the performance of the largest provider of sub prime home loans, though the company's controlling shareholder, Sherman Ma, says that the reports are simply those of two shell companies within the group, and that a consolidated result for the Liberty (which is privately held) won't be disclosed. read more

Bank of Cyprus loss narrows

One of Australia's specialist, and newest, retail banks, Bank of Cyrpus (Australia) more than doubled its lending business, and more than halved its loss, during 2002. read more

TD seeks partner for Waterhouse broker

Canadian bank TD Bank Financial Group (once known as Toronto Dominion) will restructure its TD Waterhouse discount stock broking business, after accepting that the business outside North American will not make a profit. read more

EFIC funds ERG bonds

Government-owned export financier, Export Finance and Insurance Corp will fund performance bonds for three integrated (and smart card based) ticketing projects for ERG Group in Seattle, Stockholm and San Francisco. read more

Catuity looking for licence revenues

Smart card applications developer Catuity may be hoping that this is the year that it can reduce its dependence on Visa USA and break the cycle of turning to directors for cash injections to maintain reserves. read more

Leigh-Mardon on the market

American Banknote, the owner of printer and cards manufacturer Leigh-Mardon is hunting for new capital for its subsidiary, seeking new equity from a third party, relief from its bankers, and may also sell its 91 per cent stake in the Melbourne-based company. read more

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