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The Latest Breaking News from NAB

Bank closures hurt communities, Westpac admits to probe

Westpac and NAB executives are facing the regional banking inquiry, which is examining the impact of branch closures in country towns.

The New Daily

A third of the nation's bank branches have shut in the past five years — for people in the country, that's a huge problem

Despite soaring profits for Australia's big four banks, that number in the billions, almost one-in-three of their branches have closed in the past five years and now a parliamentary committee is examining the impact of those closures, especially on regional centres.

ABC News

Cost of cash worth every penny in bush, bank probe told

Cash and face-to-face transactions are central to the social fabric in rural communities, a Senate inquiry examining regional bank closures has been told.

AAP

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'Recession risks are rising' but the latest GDP numbers are expected to show 'solid' growth

The latest economic growth figures are expected to show a robust economy. But the outlook for 2023 is far less rosy, warn many analysts.

ABC News

The Australian towns where the nearest bank branch is nearly 1,000km away

With nearly 100 regional branches either closed or soon to close, getting to the bank is becoming increasingly difficult for Australians in remote areas

The Guardian - AU

Florida TV journalist and girl, 9, killed near scene of earlier fatal shooting

The girl's mother and a TV crew member were critically injured.

Axios

Australia to flirt with recession this year, warns NAB

Economists are warning Australia is at a heightened risk of recession in 2023 as the Reserve Bank keeps aggressively raising interest rates, with a per capita recession looking likely.

ABC News

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Australia’s housing crisis: how RBA interest rate hikes are pushing families closer to the edge

While some property owners are cashing in on the crisis, many others, such as western Sydney’s Nick Noel, are struggling to explain to their kids why they must tighten the spending belt

The Guardian - AU

Port of Newcastle confirms its financing is tied to moving away from coal

Conference hears all lending will go 'sustainable' or green

Newcastle Herald

Million households 'vulnerable' to rising interest rates, and their cuts could cause recession

A prominent economist now puts the risk of recession at 50 per cent, as households face the prospect of making substantial spending cuts to meet rising home loan repayments.

ABC News

NAB calls for united front to combat 'spoofing' scams

The National Australia Bank has revealed a 50 per cent drop in "spoofing" as it calls for a more co-ordinated Australian front against scammers.

AAP

Interest rates could peak at 4.1% amid sinking consumer confidence in Australia, says NAB

Major bank believes business conditions and confidence are improving as it sets cash rate prediction higher than other banks

The Guardian - AU

Mortgage pain to intensify in 2023 as triple rate-hike looms: NAB economists

Australians must brace for interest rates to rise at least three more times in 2023 as the RBA fights high inflation.

The New Daily

China's economy is recovering — is that a good thing for Australians faced with surging prices?

China's rebounding economy is set to have ramifications for Australia — both good and bad — and could exacerbate our cost-of-living issues.

ABC News

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AAP

RBA governor faces grilling on 'hawkish' rate hike talk

Reserve Bank governor Philip Lowe will appear before parliamentary committees this week after what's been labelled as a "hawkish" shift for the central bank.

ABC News

Parliamentary inquiry into regional banking to be held as branch closures continue

The inquiry will examine the impacts of branch closures on communities, as well as the effectiveness of current data.

The Guardian - AU

Parents turn to buy now, pay later schemes to meet Australia’s soaring school costs

Financial hardship support has not kept pace with the rising cost of uniforms, books, stationery and computers, peak body says

AAP

New apartments trigger jump in building approvals

A glut of new apartment projects lifted building approvals in December but new house approvals remain subdued, new data shows.

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ABC News

Adam thought he was starting a new job, until he lost $28,000. What are recruitment scams and how are they targeting job seekers?

It is the scam that preys on the most-vulnerable feeling that job seekers have: hope. Here is what recruitment scams are and how they are targeting job seekers.

ABC News

More reports of bank scams targeting younger generations as teen loses life savings to spoofing

Aurora Casilli lost her life savings in a scam when hackers infiltrated an existing message thread with her bank. She warns others the process seemed legitimate.

ABC News

First Nations entrepreneurs are still fighting 'the white boys club', as major banks try to improve

Major banks and venture capital firms say they want to finance more Indigenous business as this sector grows at a rate higher than the economy, but those from within First Nations enterprise say the finance sector has a lot to improve.

AAP

Bombers apologise to former CEO Thorburn

Essendon have apologised to former NAB boss Andrew Thorburn after he lasted just one day as Bombers chief executive due to his church role.

AAP

Australia's 2023 economic outlook unclear

There are a range of unknowns hanging over Australia's economic fortunes in 2023 but most agree a recession is unlikely.

AAP

NAB forecasts rocky road to slow growth

Higher inflation, rising interest rates and slower growth are starting to impact businesses and consumers, NAB says.

AAP

NAB sees slower growth in 2023

NAB says higher inflation, rising interest rates and slower growth are starting to impact both businesses and consumers.

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