Finance News Archive History

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  • Online scam leaves would-be renters high and dry
    An online scam has conned potential tenants desperate to rent a property out of $40,000 in 2011.   Scammers are posing as landlords on popular informal property listing sites to offer prime properties for a knockdown rental ...
    Fri 3rd Feb, 2012
  • Fix term-deposit rates before banks cut them in advance
    The markets believe that banks are set to move pre-emptively and sever savings rates ahead of another predicted cut in federal interest rates when the Reserve Bank meets next week.   Savers may be running out of time to ...
    Thu 2nd Feb, 2012
  • Australian banks brace themselves for stand-off
    Australian banks are bracing themselves for an uncomfortable stand-off should interest rates be lowered again by the Reserve Bank on 7th February.   The reluctance of big banks to pass on the December interest rate cut ...
    Wed 1st Feb, 2012
  • New app converts reward points to cash
    New advances in mobile transactional technology could mean that credit card and lifestyle reward systems are ready to evolve to the next stage.   In December, Commonwealth Bank launched its Kaching app for iPhone users. The ...
    Fri 27th Jan, 2012
  • Easing inflation signals hope for interest rate cut
    News that inflation fell to 3.1% in the year to December has given further hope to homeowners awaiting a further interest rate cut.   The consumer price index was unchanged in the final quarter of 2011, figures from the ...
    Thu 26th Jan, 2012
  • Buy Australian to support the economy
    Buying Australian produce helps to create local jobs and support the national economy, says a patriotic consumer group.   Australian Made | Australian Grown has urged consumers to think about the benefits of buying local ...
    Wed 25th Jan, 2012
  • Aussies determined to slash credit card debts
    Concerned Australians are once again signalling their intentions to ditch their credit cards and reduce their debt as the global downturn slowly takes its grip on the domestic economy.   A poll commissioned by ING Direct ...
    Wed 25th Jan, 2012
  • It's decision time for savings
    Return on investments has fallen considerably in the last 18-24 months, and with many anticipating further central rate cuts in the coming months, consumers must decide whether to stick or twist.   The market for term ...
    Tue 24th Jan, 2012
  • Consumers take the upper hand on price matching
    Declaring that they have the lowest prices has long been useful rhetoric for retailers. Many offer under-utilised price matching schemes. Now, as consumers take the upper hand, retailers are being taken to task on these ...
    Mon 23rd Jan, 2012
  • Job cuts put account security at risk, staff warn
    A surge in fraud could be imminent, ANZ staff have warned, after the bank decided to cut 16% of its fraud team by the end of March.   There are also plans afoot to shift jobs offshore to the Philippines from the specialised ...
    Thu 19th Jan, 2012 (2 Comments)
  • Feeble confidence to prompt further rate cuts in 2012
    Despite a small improvement in consumer confidence at the end of 2011, employment prospects are likely to prompt further interest rate cuts in the near future.   The two consecutive federal interest rate cuts have shown a ...
    Wed 18th Jan, 2012
  • Despite record profits, ANZ begins slashing jobs
    Fury has erupted as ANZ confirmed that the process of axing staff had begun in Melbourne, despite the bank posting record profits of $5.36 billion in 2011.   Last week, it was announced that banks are set to slash jobs in ...
    Tue 17th Jan, 2012
  • Credit card use abroad costs Aussies over $300 million per year
    Consumers who use credit cards abroad regularly are being advised to check whether they are expensive to use overseas.   It has been estimated that Australians spend well over $300 million on unnecessary debit and credit ...
    Mon 16th Jan, 2012 (2 Comments)
  • Airport parking failure charges thousands to credit card
    Credit cards are an efficient method of payment, but there will be occasions where electronic systems fail and something goes wrong. There are fewer more striking examples than when a motorist found his credit card charged ...
    Fri 13th Jan, 2012
  • Comment: Airmiles Credit Cards: Still in Vogue?
    It’s been interesting to witness how, in some parts of the world, the love affair with airmiles seems to be dying. Perhaps not in Australia, though!   Frequent flyer programmes are now into their fourth decade. Initiated ...
    Wed 11th Jan, 2012
  • Big banks will slash jobs to save profits
    Australia’s biggest banks are set to shed thousands of jobs in a desperate bid to cut costs and maintain their record profitability.   Despite all of the Big Four banks announcing record profits (between $5.36 billion and ...
    Mon 9th Jan, 2012
  • Retailers could struggle in 2012 if spending stays low
    Official figures for Australian retail trade in November predict tough times ahead for local retailers.   Seasonally adjusted figures from the Australian Bureau of Statistics show only a 0.03% rise in spending in November, ...
    Mon 9th Jan, 2012
  • New Year’s Resolutions: Are we saving?
    Almost a week into the New Year, it’s time to make a check up on the progress of New Year’s resolutions. Are we saving?   A wide-reaching survey by online bank ING Direct suggested that, of the two in three Australians ...
    Thu 5th Jan, 2012 (1 Comment)
  • Comment: Could Australia use a Mary Portas to revitalise its retail sector?
    As retail continues to slide, what's next for the beleaguered High Street?   Australian retailers are becoming increasingly worried. Post-Christmas spending has risen slightly, but it has not been the gold-rush of trade ...
    Wed 4th Jan, 2012 (1 Comment)
  • Big bank popularity holds firm despite setbacks
    All of the Big Four banks (ANZ, CommBank, Westpac, NAB) have encountered problems over the past twelve months, but customers are still happy with their level of service. Despite a number of technical glitches, security flaws, ...
    Wed 4th Jan, 2012
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