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Competition watchdog overruled as tribunal gives ANZ-Suncorp merger go-ahead

TheGuardian

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading. An August decision by the Australian Competition and Consumer Commission declining to authorise the acquisition was overturned in a landmark judgment on Tuesday.

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Transactions: Temenos signs 13 bank, fintech contracts in Q3

BankInovation

billion Bank of Queensland, based in Queensland, Australia, in Q3 selected Temenos’ cloud-based platform for its retail banking business, a spokesperson for Temenos told Bank Automation News. Demand for core provider Temenos’ services remains strong amid a focus on digital transformation among banks.

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Adani Group abandons share offer as crisis triggered by fraud claims escalates

TheGuardian

The relentless selling has also triggered questions about how Adani, which runs Australia’s contentious Carmichael coalmine and rail project in Queensland, will meet its loan obligations as banks weigh up their exposure.

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Late Payments Spur Australian Subcontractors’ Advocacy

PYMNTS

In Australia, there has been movement by building subcontractors to stem the tide of late payments , as they are, according to the Brisbane Times , demanding legislation to help address the issue of getting paid in a timely manner. The news comes in the wake of a special unit formed to monitor retailers, known as the Buyer Power Department.

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Australia’s banks likely to reduce lending to regions and sectors at risk of climate change impacts, regulator says

TheGuardian

A new report by the Australian Prudential Regulation Authority (Apra) found climate change could make banks more vulnerable to economic downturns as they face up to a threefold increase in lending losses by 2050, but that the system should be able to absorb the impact.

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Three Metrics CUs Can Use To Retain Members

PYMNTS

In one instance, Australia-based Unity Bank , Southern Cross Credit Union and WAW Credit Union partnered with Square to expand their services into rural Australia. The POS solution will now be accessible by rural merchants in New South Wales, Victoria and Queensland that do business with any of the CUs.

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