New data from the Reserve bank of Australia shows that the total value of charge and credit card transactions including advances fell marginally in October by 0.3 per cent.
>> Read more
A survey conducted by professional services firm Deloitte suggests that non bank finance companies are expected to capture a greater share of the mortgage lending market next year, after funding constraints that caused them to cede business to the Big Four lenders subsides and global financial markets continue to recover their health.
>> Read more
Christmas time is a time to indulge, and unfortunately what the good times mean is that it is also for a lot of people the most expensive time of year and despite our best intentions, it can be so expensive, that many of us end up being in a position where there isn’t enough money to fund our celebrations in the manner we would really want to.
The cost of Christmas can really add up very quickly, whether it’s because you want to spoil loved ones with gifts and presents, or because you want to indulge yourself with good food and fine wine.
Whatever may be your personal flavour, if you aren’t careful how you spend your money over Christmas, you could end up starting the New Year in over your head in debt.
Here are some common Christmas spending mistakes that you should try and avoid.
>> Read more
Australia’s super fund industry will be allowed to continue the controversial practice of stock lending, but may end up being more tightly regulated in order to curtail any elevated risks that they may face as a result of the practice.
>> Read more
Australian banking major National Australia Bank says it is considering its options, and may participate in the trend of consolidation that is occurring in the British banking sector, where it owns two lenders, The Clydesdale and Yorkshire Banks.
>> Read more
Australian banking major Westpac once again moved to quell criticism from its surprise 45 basis point rate hike, defending its decision yet again by saying lenders having to absorb higher funding costs would result in a weaker financial system.
>> Read more
In what can only be described as a stunning turn of events, Australian banking major upped the ante, offering a surprise higher bid for insurer AXA Asia Pacific Holdings (APH), trumping a rival bid which has been in the works for the last month launched by French insurance giant AXA SA and Australian wealth manager AMP.
>> Read more
Major institutional shareholders of Asia Pacific insurer AXA Asia Pacific Holdings (APH) are intensifying pressure on the company’s board to approve the $12.8 billion joint takeover bid from French insurance giant AXA SA, and Australian wealth manager AMP as APH board members meet Wednesday to consider a revised deal.
>> Read more
On Monday, Australian banking major Westpac moved to re-open the once frozen market for residential mortgage backed securities (RMBS), launching a $1 billion offering.
Although there have been a number of smaller offerings issued by regional lenders without the use of the government guarantee recently. The Westpac deal is the first issue of RMBS by a major lender since May 2007, when the market effectively closed as a result of the global financial crisis.
>> Read more
Amid an environment of the gradual phasing out of first time home buyer grant and rising interest rates, an industry forecaster says it believes that mortgage lending could decline in 2010.
>> Read more