Business gloom worsens to 2001 levels
August 12, 2008
Business conditions slumped in July to levels not seen since the aftermath of the 2001 US terrorist attacks, as declining sales signal a broad pull-back in the economy.
National Australia Bank shares fall 10%
National Australia Bank shares have dropped 10 per cent after the bank announced an extra $830m loss on its exposure to US mortgage-backed debt securities.
National Australia Bank talking to Royal Bank of Scotland about buying local arm of ABN Amro
National Australia Bank Ltd., one of the country's biggest lenders, said Friday it is in consultations with the Royal Bank of Scotland about buying the local arm of investment bank ABN Amro.
NAB shares slump on writedowns
National Australia Bank announces $830 million in additional provisions, sending its shares down as much as 13%.
Westpac's ray of light
Westpac has so far managed to avoid big problem credit exposures, and should it successfully swallow St George, will become Australia's biggest bank.
NAB ups standard variable rate to 9.46%
National Australia Bank has lifted its variable mortgage interest rates by 10 basis points.
NAB appoints Cameron Clyne as new CEO
National Australia Bank Ltd has appointed the head of its New Zealand operations, Cameron Clyne, as its new chief executive.
NAB breaks rank to lifts rates again
National Australia Bank Ltd has broken ranks with the major banks and lifted its standard variable home loan by another nine basis points.
Moody's downgrades NAB's outlook
Ratings agency Moody's Investors Service has downgraded its outlook on National Australia Bank Ltd's credit rating to negative, from stable.
National Australia Bank names new chief executive
National Australia Bank Ltd., one of the country's biggest lenders, said Thursday that the head of its New Zealand operations, Cameron Clyne, will take over as chief executive, replacing John Stewart at the start of next year.
NAB slumps on debt shock
NATIONAL Australia Bank will suffer a $600 million blow to its annual net profit, sending its earnings into the first tailspin for four years, after taking a direct financial hit from a portfolio of investments linked to the US subprime housing crisis.
Westpac and NAB play catch-up
WESTPAC and National Australia Bank are expected to add to the pressure on home owners and businesses as early as tomorrow as they prepare to catch up with the latest rises in...
Australia's Commonwealth Bank eyeing...
Reuters - Commonwealth Bank of Australia (CBA)
, the country's No. 2 bank by assets, may offer over
A$6 billion ($5.2 billion) to British bank HBOS for
its Australian unit...
NAB won't rule out St George bid
National Australia Bank chief executive John Stewart has not ruled out making a counterbid for St George Bank.
ANZ says provisions seen rising to...
Reuters - ANZ bank , Australia's
third-biggest lender, issued a profit warning on Monday,
forecasting more than $1 billion in bad debt charges, as the
global credit crisis...
NAB's rate-cut pledge
National Australia Bank becomes the first of the major banks to break ranks over the cost of home loan funding with a promise today to pass on the full effects of any...
NAB's new chief has the job ahead
THE INCOMING National Australia Bank chief executive, Cameron Clyne, is facing his first major challenge - restoring investor confidence in the group's credit exposures after a...
National Australia Bank reports 25.8 percent rise in 1st half net profit
National Australia Bank Ltd. said Friday its first half net profit rose 25.8 percent over the same period last year, boosted by strong lending and deposit growth and a one-time gain from Visa Inc.'s initial public offering.
Intercity rivalry doesn't stop at banks - and Sydney comes out on top
There is a mischievous view doing the rounds of the banking industry that if it was not for Melbourne, the share prices of the rest of the majors would be in much better shape. For Melbourne, of course, read ANZ and National Australia Bank. So it will not be any surprise that the quip has emanated from Sydney where Commonwealth, Westpac and St George are based. 
Australia's Westpac offers $14B for...
Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a $14 billion takeover offer that could lead to the biggest shakeup of Australia's banking...
NAB chief could get $7.5m each year
AHMED FAHOUR, the head of National Australia Bank's domestic operations, became the highest-profile casualty of the race to succeed his boss, John Stewart, as the group...
Credit slowdown squeezes earnings
A GLOOMY picture of falling banking sector earnings is emerging in the wake of National Australia Bank's shock move to set aside $830 million to cover investments linked to the...
NAB stock slumps as it takes A$830m...
National Australia Bank stunned investors yesterday by taking an extra A$830m (£399m) provision against investments backed by US residential mortgages.
NAB walks away from ABN Amro takeover
National Australia Bank Ltd (NAB) has ditched its plans to buy the local arm of Dutch investment bank ABN Amro, without giving any reasons.
NAB lifts rates to 9.46%
The National Australia Bank has lifted its variable mortgage interest rates by 0.1 percentage points, raising its standard variable home loan rate to 9.46%.