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A board displaying stock prices is adorned with the Australian Securities Exchange (ASX) logo in central Sydney, Australia, February 13, 2018. That will, however, take time, with the overhaul now expected to finish in 2029, some 13 years after it began. It also prompted the Australian Securities and Investments Commission (ASIC) to open an investigation into the exchange's disclosures about the project. ASX said it expected the first stage of the new project, clearing software, to cost between A$105 million and A$125 million with delivery around 2026. The cost and timing of the settlement and other software will be decided in 2024.

Persons: David Gray, Tim Whiteley, Joe Longo, Longo, Byron Kaye, Himanshi, Edwina Gibbs Organizations: Australian Securities Exchange, REUTERS, Tata Consultancy Services, New, Australian Securities and Investments Commission, Thomson Locations: Sydney, Australia, India, Finland, Canada, New York, Bengaluru

CBA said cash profit was A$2.5 billion ($1.6 billion) for the quarter, which was 3% better than a consensus estimate for the period, according to data aggregator Visible Alpha. "Home lending margins stabilised in the quarter," it added, without giving figures. Shares of CBA rose as much as 1% in morning trading, in line with the broader market (.AXJO) as analysts welcomed the better-than-expected margin outcome and a smaller-than-expected provision for potential loan impairments. Commenting on the bank's stabilising home loan margins, E&P Financial analyst Azib Khan said that "it would be helping on this front that CBA has been willing to forgo market share". For the year to September, CBA said it grew its mortgage book at 0.7 times the rate of the overall mortgage industry.

Persons: Brendan Sproules, Azib Khan, Himanshi, Shilpi Majumdar Organizations: Commonwealth Bank of, ANZ, Westpac, National Australia Bank, CBA, Citi, P, Thomson Locations: Bengaluru

Adding to its woes, last month the antitrust regulator sued Qantas accusing it of selling fares on thousands of already-cancelled flights in 2022. The so-called "flying kangaroo" said it would now spend A$80 million ($52 million) on "customer improvements" on top of the A$150 million previously flagged. "The group will continue to absorb these higher costs, but will monitor fuel prices in the weeks ahead and, if current levels are sustained, will look to adjust its settings," Qantas said. "Any changes would look to balance the recovery of higher costs with the importance of affordable travel in an environment where fares are already elevated." RBC Capital Markets analyst Owen Birrell said the company would likely absorb the higher fuel costs "until its target margins come under pressure and then would seek to claw back those costs through capacity cuts and higher fares.

Persons: Loren Elliott, Owen Birrell, Byron Kaye, Himanshi, Kim Coghill, Subhranshu Organizations: Qantas, Sydney Airport, REUTERS, Australia's, Qantas Airways, RBC Capital, Thomson Locations: Sydney, Australia, SYDNEY, Bengaluru

The logo of the ANZ Bank is seen at Lambton Quay, in Wellington, New Zealand November 10, 2022. "A substantial lessening of competition in home loans would have major flow-on impacts to Australians with a mortgage," he added. The companies said they would seek a review of the determination at the Australian Competition Tribunal, an offshoot of the federal court which oversees takeover rulings. Taking the deal to the competition tribunal would delay its completion to mid-2024, if the tribunal approved it, from the late 2023 timeline the companies gave when they announced it a year ago. The ANZ-Suncorp deal also needs sign-off from Treasurer Jim Chalmers who declined to comment.

Persons: Lucy Craymer, Mick Keogh, Gina Cass, Gottlieb, Jim Chalmers, Byron Kaye, Himanshi, Stephen Coates Organizations: ANZ Bank, REUTERS, ANZ, Suncorp, ANZ Group, Australian Competition, Consumer Commission, Australian Competition Tribunal, Citi, Telstra, TPG Telcom, Thomson Locations: Lambton Quay, Wellington , New Zealand, Melbourne, Sydney, Bengaluru

July 17 (Reuters) - Shares of Endeavour Group (EDV.AX), Australia's biggest pub owner, hit a record low on Monday after a surprise state government decision to impose identification checks and gambling limits on poker machine users. Victoria, Australia's second-most populous state, said at the weekend it would make poker machine users register for an ID card to prevent money laundering and set a loss limit in advance to restrict problem gambling. Analysts were divided on the scale of the impact on Endeavour, the country's biggest owner of poker machine licences, given the company does not break out poker machine profit in its results. The change also adds pressure on other states, particularly New South Wales (NSW), to follow suit and heed community demands for greater regulation of poker machine gambling. Australia is home to one-fifth of the world's poker machine licences, the most of any jurisdiction outside Las Vegas.

Persons: Australia's, midsession, Today's, Byron Kaye, Himanshi, Navya Mittal, Subhranshu Sahu, Stephen Coates Organizations: Endeavour Group, Australia's, Analysts, Endeavour, Woolworths, Labor, Jefferies, Thomson Locations: New South Wales, NSW, Sydney, Australia, Las Vegas, Bengaluru

2 lender, fell short of analyst forecasts in half-year profit released on Thursday and took a hit to its share price after warning that the windfall from rising interest rates had peaked. The update signals a tough new phase for Australia's lenders which have benefited from a year of rising interest rates by charging more to borrowers while limiting the amount they pay deposit-holders. "What the market's concerned about is the exit NIM (net interest margin)," said Hugh Dive, chief investment officer at Atlas Funds Management which holds bank stocks. In personal banking, which includes mortgages, profit shrank slightly due to a A$393 million impairment charge. The bank had telephoned 7,000 borrowers deemed to be most vulnerable to rising interest rates and just 13 had requested assistance.

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