Westpac CEO Gail Kelly is believed to be concerned that St George customers may move to Bendigo or ANZ as the merger takes hold. Just one St George executive ha.....
CreditMart recently undertook some analysis around interest rates on reward program credit card offers and found that the average interest rate on these cards was 1.....
Not all credit cards are created equally. And so it makes it that much harder to decide which credit card offer to choose. There are many factors you sh.....
Investors in City Pacific Mortgage Fund will be made to wait up to a further 180 days for any redemption request, dragging out the waiting time to a whole year. Management of City Pacific Limited, which manages the mortgage fund, prioritises recycling loan repayments to fund draw downs (and perhaps new loans) to property developers rather than repayment of capital to investors in the fund's debentures. Completion of developments (which are mostly multi-unit complexes in Queensland) is required to "realise their full value" according to the company's announcement to the Australian Stock Exchange. City Pacific first froze redemptions from its mortgage fund in early March, two weeks after publication of the accounts of the management company generated a stream of adverse commentary over the financial position of the company and the fund. The company subsequently had to defer payment of its interim dividend and a month ago said it would not pay a final dividend.Source The Sheet
