Latest news (24,991 items)

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

Farmers cards loses market share

The Farmers' retail financial services business in New Zealand increased receivables by nine per cent in the second half of 2002, with receivables up to NZ$320 million at December from NZ$294 million at June. read more

CommSecure loss widens

The loss incurred by payments gateway and solutions provider CommSecure widened in the December half year, as revenues weakened: read more

Loyzaga looks to acquisitions

Ray Loyzaga, managing director of CommSecure, said that in spite of the losses, "its clear that the strategy we are pursuing is starting to show steady results. In terms of annuity revenue, we've seen good growth of 20 odd per cent. And it would have been a lot stronger had the markets not turned down last year." read more

ERG loses CFO

ERG has lost its chief financial officer, with the departure of Richard Howson two weeks ago. Yew Seng Kwa replaced Howson. read more

NAB simplifies business fees

National Australia Bank acknowledges that it will collect more fee revenue from small business and middle market customers from the simplification of fees on business accounts. read more

Pepper's first loan pool already delinquent

The first securitisation of home loan from sub prime, or non conforming, lender Pepper Home Loans provides a reminder of the borderline credit quality of a sizeable slice of borrowers in this sector, with more than six per cent of loans in the $184 million loan pool already behind on payments. read more

Stressed borrower ‘no drama' for sub prime pools

Pepper Home Loans couldn't be reached for comment on the delinquency pattern in their loan pool. But Alistair Jeffery, the head of rival sub prime lender Bluestone Mortgages, said "there are no dramas" in a delinquency experience of six per cent at this stage of the loan pool. read more

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