First bank follows RBA rate hike
Banks have started to raise mortgage rates again following the Reserve Bank’s decision to increase the official rate to its highest level in 11 years.
National Australia Bank
ASX drops 1pc; NAB lifts rates; CBA cuts jobs
The sharemarket fell for a second day in a row, closing 1 per cent lower. NAB is the first major lender to lift rates after RBA’s 11th hike. Gabriel Govinda, better known online as Fibonarchery, sentenced to imprisonment and fined. CBA cuts 230 jobs.
Four in 10 Aussies under financial stress: NAB report
Financial stress is up and wellbeing is down but NAB chief Ross McEwan says Australia’s economy is resilient.
NAB’s CEO calls time on work from home
NAB staff are currently spending 1.2 days a week on average in the office. Now CEO Ross McEwan has issued an edict to senior management.
ASX snaps losing streak; Megaport soars 41pc
Megaport rockets on guidance upgrade. Bubs Australia launches China review. Bank of Japan to review monetary policy. Mirvac cuts outlook. Woodside defends climate policy.
Big bank’s surprise move for homeowners
After months of rate rises, one bank has made the choice to decrease a portion of its home loans.
House, BMW used as bribes in NAB fraud
A court has been told the possible reasoning behind a former high-flying female executive’s million-dollar NAB embezzlement.
Indian cops nab separatist leader
The month-long manhunt for Amritpal Singh sparked protests among the diaspora in Australia, Britain, Canada and the US.
NAB to lend against cashflow expectations
NAB will open up unsecured lending to retail business customers, offering up to $125,000 on a short turnaround.
NAB braces for mortgage stress amid $91bn roll over
NAB’s chief says the bank is ready with $91bn in fixed-rate mortgages rolling over to higher-priced loans at the same time the economy is tipped to slow and unemployment rise.
Big bank boss’s urgent letter to customers
NAB customers will find an update from the bank’s CEO in their inbox, as he warns of “a growing problem in Australia”.
Cracks starting to show for tiles supremo
It’s a delicate time for home building companies and Frank Walker’s National Tiles could be sweating on a fast-closing deadline for its $33m borrowings from NAB.
First home buyers to pull back as foreign buyers swoop
Australia’s housing market won’t fall as far as feared this year and could come back next year.
How companies are ‘selling’ free flu shots
This year’s flu season is shaping up to be the worst in a decade. Here’s how some of Australia’s biggest companies are ensuring workers roll up their sleeves.
No male pay gap in markets team case: NAB
The banking major has refined its defence in a looming court fight with its former head of repo trading, Dikele Diawara.
Wealthy watching, waiting on market
Wealthy bank customers are preparing to pounce on buying opportunities, says the head of NAB’s JBWere.
Major blow to Dutton in election upset
The polls have now closed in the hotly contested Aston by-election, as Labor is expected to nab the historically safe Liberal seat.
Big banks reveal cash plan after ANZ’s controversial move
ANZ says some branches will be cashless in a move critics argue will hurt vulnerable Australians – but will other big banks follow?
ASX rises 1pc to three-week high; BHP, NAB rally
ASX 200 sees best close since March 10. Qantas, China Eastern get ACCC nod. Regis jumps on McPhillamys green light. NAB trims cash rate peak. Zip soars on profit pathway.
NAB executive’s world turns to jelly
NAB veteran Drew Bradford could be headed for digital investment house JellyC; and Ahmed Fahour’s Latitude departure won’t have the silver lining he would have anticipated.
ASX up tad on Origin, AGL; Lake dives 13pc
Goodman jumps on broker upgrade. Lake Resources dives on chair’s selldown. Latitude falls as cyber attack hits millions. Crown has now been hit with a ransom demand by a Russian cyber gang
NAB eye on Credit Suisse private bank
NAB has signalled the lender’s potential interest in buying Credit Suisse’s local private banking arm, but acquirers are closely assessing mounting fund outflows.
NAB names new CFO
NAB has unveiled its new chief financial officer amid plans for a shake-up of the bank’s finance and strategy arms.
Global volatility gives RBA a chance to reconsider rate hikes: Henry
Business veteran Ken Henry says Australia’s banks are well protected from global banking volatility but market jitters make the RBA’s rates decision difficult.
Big bang reforms needed to fix Australia’s tax ‘madness’
Former Treasury boss Ken Henry has called for reforms to the tax system that currently ‘punishes innovation, denies people opportunity and undermines economic growth’.
NAB makes ‘world first’ stablecoin move
NAB bank has notched a ‘world first’ – the first intra-bank, cross-border transaction using a stablecoin on a public ‘layer 1’ blockchain.
Two more rate rises, insists NAB’s McEwan
NAB chief executive Ross McEwan says five small fintechs backed by its Ventures unit had links to collapsed lender Silicon Valley Bank.
ASX falls 1.4pc in $33bn wipeout; tech, banks hit
Shares close at 10-week low. Gold miners rally in volatile trading. Real estate stocks lift on rate bets. IPH reports cyber incident. Wall Street tipped to rebound.
Some savers better off, but not by a lot
NAB, Westpac, and ANZ have all moved to raise borrowing rates after the RBA lifted the cash rate on Tuesday, but some banks are rewarding savers better than others as the need for cash grows across the industry.
ASX flat but most sectors rise
NAB, Westpac, ANZ reveal rate hikes. Myer shares rocket after dividend boost. Xero jumps on move to cut up to 800 jobs. Piedmont halts, will respond to short-seller claims.
Original URL: https://www.theaustralian.com.au/topics/national-australia-bank/page/13