NewsBite

Cash

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

Sydney startup Primary is taking the fight to the big banks. Pictured: chief of staff Finn Blake, founder Ben Buckingham and chief product officer Will Freeborn.

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
Banks are discussing how to make Armaguard a more efficient operator.

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

The cost of paying with a credit card has come under considerable scrutiny as the prevalence of surcharges increases.

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
Armaguard is the only major provider of cash in transit services after it merged with Prosegur last year.

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
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July 2024

Consumer spending was driven mostly by a rebound in durable goods like cars and furnishings.

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

Peter Fox, executive chairman of Linfox: “We have been holding something like a hot potato that has been burning at $1 million a week for the last three years.”

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
A cash injection of $50 million will keep Armaguard afloat for at least another year.

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
Apple’s new iPad calculator.

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

Capgemini CEO Aiman Ezzat says his team has 400 generative AI projects on the go, and another 1600 in the works.

‘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
Cash often moves a portfolio toward the lower end of the expected return spectrum.

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
A worker counts money at a grocery store in Buenos Aires.

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

James Eyers

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.

The Chanticleer podcast features James Thomson and Anthony Macdonald.

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.

Negotiations are continuing between the federal government, major banks and retailers over the future of cash-carrying company 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
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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
Peter Fox is the executive chairman of Linfox and the son of Lindsay Fox. He says customers will need to pay more for Armaguard’s services.

Linfox lays out its terms for keeping Armaguard afloat

Peter Fox, the company’s executive chairman, says his family are “not beggars here”. He says the cash-in-transit monopoly will keep operating if fees rise.

  • Updated
  • James Eyers
Lindsay Fox controlled Armaguard is not out of financial danger, after securing $10m from its parent company Linfox.

Banks ramp up plans for cash disruption after Armaguard deal fails

One option being considered is for smaller cash couriers to step in if the monopoly money transport business owned by Lindsay Fox collapsed.

  • James Eyers

March 2024

Coles has paused deliveries from Armaguard until next Friday over concerns about the stability of the cash delivery service.

Coles hoards cash over Easter as Armaguard teeters on the brink

The Lindsay Fox-controlled monopoly has engaged former ACTU secretary Bill Kelty to lead negotiations with major banks over a rescue package.

  • James Eyers and Patrick Durkin

Last-minute lifeline to keep cash afloat

A short-term financial injection in the tens of millions of dollars has been offered to help Armaguard, the Lindsay Fox-owned cash transport firm, survive.

  • James Eyers

Original URL: https://www.afr.com/topic/cash-hpa