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Industry at a Glance 19-Aug-14

21 August 2014

Australian News

 

Grasping banks violate their public trust
Source: Sydney Morning Herald
Date Published: 13/08/2014

The Herald has yet to encounter a reader who has not been hit by a bank fee at some point in their lives. Events of recent months have shifted the focus on Australia's banks to their fixation with profits over their focus on customer service. This fixation should 

Big data analysis a top priority for CBA
Source: The Age Business Headlines
Date Published: 15/08/2014

As customer relationships are disrupted by technological upheaval in the banking industry, the analysis of “big data” has become one of the biggest strategic focuses for Commonwealth Bank of Australia chief executive Ian Narev.


Current Issues

 

School holiday spending benefits Otago
Source: Scoop NZ - Business
Date Published: 13/08/2014

Auckland, 13 August 2014: Figures released today by the country’s leading payments provider show a marked increase in spending in the Otago region during the July school holidays. Whilst spending traditionally increases during the school holidays, this

ASB's full year result 'reflects continued momentum'
Source: Voxy.co.nz - Business
Date Published: 13/08/2014

Improving economic conditions have contributed to ASB recording a 14% increase in Statutory Net Profit after Taxation (NPAT) to $806 million for the year ended 30 June 2014. For the prior year, the result was $705 million.

Kiwi credit card debt on the rise
Source: Stuff.co.nz - Business
Date Published: 13/08/2014

Consumers are increasingly pulling out their credit cards to pay for purchases, eftpos company Paymark says.

Shoppers rev up their spending in June
Source: Stuff.co.nz - Industries
Date Published: 14/08/2014

Shoppers are in top gear, revving up their spending on cars in the June quarter, helping to lift overall retail sales volumes by 1.2 per cent.

Solving cybercrime a 'global effort'
Source: Stuff.co.nz - Technology
Date Published: 14/08/2014

After the stunning revelation that Russian crooks had stolen 1.2 billion user names and passwords, the biggest breach on record, experts say making the internet more secure will take a huge global effort - bolstering website security, a stronger push to prosecute the cybercriminals and better vigilance...

Westpac and BNZ to be served court papers in 'unfair fees' case
Source: New Zealand Herald - Banking
Date Published: 18/08/2014

Two of New Zealand's largest banks will this week be served court papers over claims they charged more than 41,600 customers unfair penalty fees.The Fair Play on Fees group, fronted by Auckland lawyer Andrew Hooker, yesterday confirmed


Member Banks

 

Westpac NZ boss steps down after surgery
Source: New Zealand Herald - Employment
Date Published: 12/08/2014

Westpac New Zealand chief executive Peter Clare has resigned from the company in order to recover from major heart surgery, the transtasman bank has announced."Following a recent, major medical procedure to correct a heart condition,

Scheme aims to keep poor from loan sharks
Source: Stuff.co.nz - Stuff
Date Published: 13/08/2014

A pilot scheme providing low and no-interest loans in two of Auckland's poorer suburbs was launched by Social Development Minister Paula Bennett today.

ASB banks record $806m profit
Source: New Zealand Herald - Business
Date Published: 13/08/2014

An improving economy and favourable funding conditions helped ASB Bank boost its annual statutory net profit by 14 per cent to a record $806 million.Cash net profit rose 11 per cent on the prior year to $776 million, the Auckland-based


Governance

 

Diana Clement: Bitcoin - Virtual gold or junk?
Source: New Zealand Herald - Opinion
Date Published: 16/08/2014

Looking for a 21st-century investment that might (or might not) make you a small fortune? The virtual currency bitcoin is proving to be an answer for a small but growing number of Kiwis. Investors worldwide have reported making huge


General

 

Amazon debuts mobile payment app and card reader
Source: New Zealand Herald - Technology & Science
Date Published: 14/08/2014

Amazon is taking direct aim at mobile payment systems such as Square by introducing the Amazon Local Register, a credit-card processing device and mobile app designed to help small business owners accept payments through their smartphones

Credit Union Movement Receives Cooperative Awards
Source: Scoop NZ - Business
Date Published: 15/08/2014

New Zealand Association of Credit Unions (NZACU), the industry body that represents 22 cooperatively owned credit unions and mutual building societies throughout New Zealand, was recognised last night by Cooperative Business New Zealand at its inaugural

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