Has there been a back-door deal done with the NAB? Three months ago employees were told there was a fund of $7 million that employees and creditors will be paid out of. Now it appears there will be nothing left.
NAB
Feds tell banks ‘there are no guarantees’
The federal government is finally withdrawing its guarantees to banks and the state governments that allowed both groups to have a good recession. The measures kept our banks alive, but they gave the Big Four too much power.
Tips and rumours: Tips and rumours: No Christmas spirit in the public service
Which was the tight-arsed government department that docked everyone’s pay (or forced them to make up the time!) because of some employees leaving five minutes early on Christmas Eve?
Mayne: Women directors not up to the job, says Chaney
It’s time to shame Australia’s corporate boardrooms into action on female representation: there is now a need for legislation, regulation and direct action.
Mayne: Paid journalists’ session improves NAB AGM
The National Australia Bank went into uncharted waters at yesterday’s AGM in Brisbane, by paying journalists to conduct a 50-minute pre-meeting discussion with chairman Michael Chaney and CEO Cameron Clyne.
NAB boosts growth and employment forecasts
Another strong month for business confidence and conditions has seen NAB boost its growth forecasts and lower its expected unemployment peak.
Banking competition: the great Australian oxymoron
Australia’s Big Four banks are at the core of our entire economy, says Evan Jones, and the idea that they’re “in competition” with each other is a farce. Together, these institutions wield enormous power.
NAB data has RBA humming a rate rise tune
Buried in yesterday’s very upbeat business confidence and conditions survey from the National Australia Bank was a surprisingly negative forecast on house prices for 2010.
British banking break-up provides options to NAB
The plan for the partial break-up of Britain’s two state-owned banking behemoths is public, providing a few investment options for NAB, writes Ian Rogers, editor of banking e-zine The Sheet.
ANZ out-gouges the NAB
Like the NAB, the ANZ has survived the financial crisis looking rudely health. Which is impressive, considering it suffered more damage from self-inflicted lending disasters than any of the Big Four.
NAB continues its billion dollar profit gouge
With such a strong result under its belt, you would have thought the NAB might have had the grace to mention the help from the federal government and Reserve Bank.
NAB sees blue skies ahead
The NAB’s quarterly business survey shows improvements in confidence, expectations and conditions ahead of tomorrow’s important consumer inflation figures.
Australian banks in a league of their own
Australian banks shouldn’t be too aggrieved by the changes to global banking rules that have been drafted this week in the Swiss city of Basle.
Carving out another notch on the recovery belt
All the negative talk of the economic slowdown has been temporarily silenced by another sharp improvement in business confidence, according to the latest NAB business survey.
Tips and rumours: Tips and rumours: Politicians singing gospel?
Which politician has allegedly produced a CD of gospel songs, and where can we get a copy? Also, what got Press Gallery journos and political staffers ‘frothing at the mouth’?
The Dyer Index: Black is back for GDP
Business conditions are looking up with business confidence bouncing back to nearly its long term average, the latest NAB survey finds.
The Big Four banks are guilty of corporate crimes
The NAB fee backdown is small consolation to bank customers who have been victim to one of the greatest corporate thefts over the past decade.
Bank drops penalty fees. Nice start, long way to go.
Yesterday NAB announced it would no longer charge consumers penalty fees of $30, writes Gordon Renouf, director of Policy and Campaigns for CHOICE. Now, what about credit card fees?
Political snippets: Downer agrees with Rudd on China, health reform dependent on senate numbers
Health reform will be interesting since the ALP don’t have the numbers in the senate, NAB and their rate cutting, Downer endorsing Rudd’s handling of the Hu case in China.
NAB’s grubby $2 billion cash grab
The way shareholders got preferential treatment yesterday from the NAB, which wanted to raise $2 billion quickly, but then “stagged” most of the shares and took a free profit, was disgusting.
Morning Market Report: Wall St’s winning streak comes to an end
Wall Street broke its seven-day winning streak, and closing down 34, while the market closed down 11.
Morning Market Report: A busy day for company news
A good day for both the local market and the Dow, up 24 and 67, respectively.
Business confidence on the up as NAB breaks ranks
Enjoy the return to the good times, because according to the NAB, conditions could very well turn down again later this year and into 2010.
Big Four weather the GFC — and then some
Australia’s banks have survived the global financial crisis because, quite simply, they didn’t need to take risks, says Ian Verrender. NAB’s $825 million purchase of parts of Aviva confirms their strength.
Morning Market Report: Market breaks even
A quiet start to week with the market up 0.3.
