This Month
- Updated
- Big four
Banks strike Australia Post deal to bolster rural branches
Lenders will extend moratoriums on country branch closures and have agreed to lift funding for over-the-counter services provided at post offices.
- Updated
- James Eyers, John Kehoe and Tom McIlroy
Major banks ready to carry Westpac’s Armaguard load
The banks and regulators met on Wednesday afternoon without the cash transit monopoly to work out how to replace Westpac’s unique cash distribution operation.
- James Eyers
Westpac’s Armaguard deal complicates negotiations to save banknotes
The major banks are scheduled to meet with the Lindsay Fox-owned cash transportation business in the hope of keeping the company afloat and money circulating.
- James Eyers
Banks and Armaguard revisit life support for cash distributor
Banks expect Armaguard to confirm its banknote distribution operation is on rocky financial footing this week, but the future of the Linfox-owned business is anyone’s guess.
- James Eyers
December 2024
CBA backs down on withdrawal fee after Chalmers leans on Comyn
Treasurer Jim Chalmers had called the $3 charge for branch withdrawals “unacceptable”. Australia’s largest bank reconsidered.
- James Eyers and John Kehoe
September 2024
Carthona Capital bets on cash management start-up
Treasury management start-up Primary has ruled off a $3.5 million seed round led by Carthona Capital.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Inside the plan to rescue cash: Smart ATMs and keeping it off the road
Three months since banks threw Armaguard a lifeline, a more sustainable model for cash distribution is taking shape, including ATMs that combine deposits and withdrawals.
- James Eyers
August 2024
Mastercard argues cash costs more than card in bid to stymie fee limit
A Boston Consulting Group report commissioned by the global payments giant has found there are plenty of “hidden” costs to using cash, which could be reduced.
- James Eyers
Banks, supermarkets prep Armaguard contingency plans
ACCC deputy chairman Mick Keogh said it was “important that the parties continue their discussions” over cash transit services.
- Lucas Baird
July 2024
US economy grew faster than expected last quarter
The US economy expanded at a 2.8 per cent annualised rate in the April-June period after rising 1.4 per cent in the previous quarter.
- Augusta Saraiva
June 2024
Armaguard and the banks now trust each other, says Linfox chairman
There has been a big turnaround in the relationship between the cash transport monopoly and its eight biggest customers.
- James Eyers
- Exclusive
- ANZ Bank
Armaguard secures deal with banks, supermarkets to save cash
Months after a bailout collapsed, the eight largest customers of Linfox’s Armaguard have agreed to a $50 million injection to keep cash circulating.
- James Eyers
Why Apple’s new iPad calculator is causing excitement
From calculators to new payment features to let you split the bills in restaurants, Apple announced updates that will affect iPhones, iPads, Macs and watches.
- John Davidson
May 2024
- Opinion
- Chanticleer
‘How to get fit’: 400 AI projects under way as consultants start having fun
Cost avoidance has turned into cost transformation, as CEOs reshape business models to be ready to capitalise when growth returns.
- Anthony Macdonald
- Opinion
- Opinion
Why holding too much cash can be harmful to your wealth
As a standalone asset class cash has long underperformed bonds, property, and shares.
- Maziar Nikpour
Argentina launches 10,000-peso notes, worth $17, as inflation bites
The new note, worth five times more than the previous largest note, was introduced as Argentina’s annual inflation rate reached 287 per cent in March.
- Ciara Nugent
April 2024
Inside the battle to save Armaguard as cash use plummets
This week on The Fin podcast, senior reporter James Eyers takes us inside the high-stakes negotiations over Armaguard’s financial future and gives his view on whether we are witnessing the death of cash.
G-G for business | Activist targets Lendlease | The future of cash
This week, James and Anthony look at what Albanese’s choice for governor-general means for business, why Lendlease is feeling the heat from John Wylie, and go inside the battle for Armaguard.
Chalmers reassures on cash supplies after Armaguard meeting
The government wants Armaguard, together with the banks and major retailers, to deal with the challenging economics of the cash distribution industry.
- Tom McIlroy and James Eyers
Inside the battle for Armaguard and the future of cash
The high-stakes negotiations over the financial future for the cash transit monopoly reached a crescendo over Easter, and became clearer this week.
- James Eyers