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Read more about Australia S&P/ASX200 falls 0.8% on Business Standard. At closing bell, the benchmark S&P/ASX200 declined 57.27 points, or 0.84%, to 6,760.71. The broader All Ordinaries dropped 67.22 points, or 0.95%, to 7,000.65.
The Australian market closed session higher on Wednesday, 03 March 2021, as market participants started purchases on dips and buybacks following the market's downturn the day before. Meanwhile, bargain buying also propelled by better than expected GDP data for the fourth quarter of 2020 (October to December). At closing bell, the benchmark S&P/ASX200 advanced 55.71 points, or 0.82%, to 6,817.98. The broader All Ordinaries added 57.97 points, or 0.83%, to 7,067.86. Most sectors on the market improved, materials easily contributing most to broader advances, followed by financials, energy, consu...
Money by Gerard Cockburn  Australia has become the first country to implement industry standards for the buy now, pay later (BNPL) sector, designed to ensure safe practices and "name and shame" dodgy lenders. The new code drafted by the Australian Finance Industry Association will come into effect on Monday and is the first pledge by the emerging sector to improve safeguards for customers. Companies such as Afterpay, Klarna and Zip will have to adhere to new rules such as caps on the number of late payments a person can accrue, and mandatory financia...
Premium Content Subscriber only One of the most popular payment methods used by thousands of Central Queenslanders, Afterpay, is implementing changes this month that will impact all users. Launched in 2014, then listed on the Australian Stock Exchange in 2016, the âbuy now, pay laterâ platform allows users to purchase and receive goods, then pay them off in fortnightly instalments. The brainchild of Sydney man Nick Molnar and his then neighbour Anthony Eisen, the digital payment system was worth more than $1.5 billion just four years after its launch and has expanded to the US and t...
Money by Gerard Cockburn  Australia has become the first country to implement industry standards for the buy now, pay later (BNPL) sector, designed to ensure safe practices and "name and shame" dodgy lenders. The new code drafted by the Australian Finance Industry Association will come into effect on Monday and is the first pledge by the emerging sector to improve safeguards for customers. Companies such as Afterpay, Klarna and Zip will have to adhere to new rules such as caps on the number of late payments a person can accrue, and mandatory financia...