Latest news (24,878 items)

HSBC back in the black

HSBC Bank is back in the black in Australia, recording a profit before tax of $31.5 million in the year to December 2002, compared with a loss of $200,000 in 2001. read more

Home opts for deep discount

Home Building Society opted for a deep discount, and no underwriter, for its one for five rights issue to raise about $6.1 million. read more

Leigh-Mardon turns down CBA cards contract

Loss making security printer Leigh-Mardon deliberately chose to pass up the chance to retain the Commnonwealth Bank contract to personalise credit cards for the bank's customers. read more

Loss making Cosmos loses listing

The Australian Stock Exchange suspended payments play Cosmos yesterday, after the company failed to file full accounts for the half year to December 2002. Cosmos had, however, filed the 4B report for the half year. read more

ING Direct headed for super profit

ING Bank in Australia has turned the corner, extracting sizeable profits from its ING Direct arm that at last matches the promise of its remarkable growth in deposits. read more

ING fattens profit with ANZ joint venture

ING said in its annual report that it recorded a "net result" of €469 million from its funds management joint venture in Australia and New Zealand with ANZ Bank, ING Australia. ING holds 51 per cent of this business and ANZ 49 per cent. ING separately owns 100 per cent of the investment management business that undertakes the money management for the joint venture. read more

Intellect looks to shareholders for support

Payment terminals supplier and smart card systems provider Intellect Holdings will call on its shareholders for extra funding this year, as the group strains to secure sales in a climate in which clients worldwide are deferring investment in upgraded payments systems. read more

Global Technology in the red, and short on cash

Global Technology Australasia, one of the key technology partners of many of Australia's smaller banks, building societies and credit unions made heavy weather over the last half year, incurring an operating loss of $3.5 million and taking another $3.8 million in write-downs. read more

Catuity turns cash positive

Catuity, a developer of loyalty systems for smart cards, remains in the red and reported a wider operating loss in the latest half. But the company may be turning the corner, building cash reserves by about US$1 million during the December quarter. read more

VFJ delays hurt Omnitech

Losses are accelerating at another smart card play, Omnitech, with key customers in China and Italy deferring payment on budgeted revenues until this year. read more

Kiwibank loss larger than planned

Kiwibank, the government owned entrant to New Zealand's concentrated banking market, has burned off a quarter of its start up capital less than 18 months after securing a banking licence, and after about eight months of trading. read more

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