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The Latest Breaking News from NAB

A jury has found a Sydney event company director guilty on 69 counts of fraud which saw more than $14 million in kickbacks sent to a now jailed NAB staffer.

AAP

The profit crisis is the inflation-driving pressure we don't talk about

Soaring corporate profits are being blamed for fuelling inflation, as figures show companies in Australia are enjoying sky-rocketing profits despite the pandemic.

ABC News

Supply chain recovery threatened by high labour costs

Supply chain issues are falling down the list of concerns for Australian businesses although expensive labour is still driving up costs.

The New Daily

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Labour costs threaten easing supply chains

The worst of the supply chain challenges have passed but labour costs, energy prices and China's strict COVID-19 policy continue to cause problems.

AAP

Bank profits jump but rising interest rates are a double-edged sword

Australia's big four banks raked in nearly $30 billion in profits over the 2022 financial year as people struggled with the cost of living. And higher interest rates will put more mortgage borrowers at risk.

ABC News

NAB 'embarrassment a factor in fraud case'

It's an enormous assumption that leaders of a major bank were so unbelievably lax or grossly negligent they had no idea about a large fraud, a jury's been told.

AAP

New data shows the economy is going to slow significantly over the coming two years

ABS and CommSec data shows there are already signs of a slowdown as average household spending goes up 15 per cent in the past five years.

ABC News

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NAB sees 20pct decline in house prices

National Australia Bank says that while some customers will face difficulties as rates rise, the at-risk cohort is just a tiny fraction of its loan book.

AAP

Demand strong, but biz confidence weakens

Australian firms are growing wary of an economic slowdown, but overall economic conditions remain robust, according to NAB's monthly business survey.

AAP

NAB blasted for incorrect customer fees

The Federal Court has found that National Australia Bank engaged in unconscionable conduct by overcharging customers in periodic payment fees for several years.

AAP

What changes are banks making to interest rates?

A flurry of banks have passed on interest rate rises to borrowers after the Reserve Bank increased the cash rate by 0.25 percentage points on Tuesday.

ABC News

Corruption claims fly in NAB fraud trial

Corrupt, fraudulent payments were used to court favour with a NAB senior staffer and ensure extended contracts with the Big Four bank, a jury has been told.

AAP

Big banks begin passing on rate rises

Mortgage holders are bracing for higher repayments in the wake of another 25 basis point rate hike by the Reserve Bank of Australia.

Newcastle Herald

New home lending falls 8.2 pct in Sept

The value of owner-occupier housing loans fell 9.3 per cent in September, with total new loan commitments for housing down 8.2 per cent.

AAP

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AAP

Banks forecast sharp interest rate hike

Mortgage holders are likely to see repayments jump even higher as the inflation dragon proves harder to slay than expected.

The Guardian - AU

Australia’s big four banks face shareholder ire over funding fossil fuels

Activist group Market Forces says continued funding of coal, oil and gas is incompatible with net zero commitments

The Guardian - AU

Essendon v church: how Andrew Thorburn fell from AFL grace

The club thought it was starting the week on a high. It took less than a day for all that to change

Crikey

Watch out for these transparency moves during the corporate AGM season

AGL is one example, where billionaire stakeholder Mike Cannon-Brookes is backing four new board candidates.

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Crikey

Taxing cuts

Liberal Bridget Archer has told the government it’s okay to consider dropping the stage three tax cuts, and Victorian MP Tim Smith is claiming a $400-a-week parliamentary car allowance even though he’s been banned from driving.

ABC News

Which banks are passing on the interest rates to borrowers? What about savers?

The major lenders were quick to pass on the interest rate rise to mortgage holders, but only certain savers will see the benefits of the Reserve Bank of Australia's latest hike.

Crikey

Where was Andrew Thorburn’s Christian faith when he was NAB’s CEO?

If Essendon’s now former CEO is so concerned about the importance of personal religious faith in public life, it’s strange the bank he ran committed so many crimes against its customers.

AAP

'Sad' Thorburn hits out after Bombers exit

Andrew Thorburn claims his Christian faith is "unacceptable" to Australians after his dramatic exit as Essendon AFL chief executive after one day in the role.

AAP

Bombers CEO resigns amid church links

New Essendon CEO Andrew Thorburn has resigned a day after the Bombers announced his appointment, due to his position at a controversial church.

ABC News

No interest loans on the rise as pandemic and cost of living prices take their toll

When everything went wrong financially for Rosetta Ianchello, a scheme set up by charity Good Shepherd and the National Australia Bank helped her to manage her debt.

ABC News

Koori Knockout final won by Newcastle All Blacks in front of thousands of spectators

The Newcastle All Blacks are crowned men's champions at the 50th Koori Knockout in New South Wales, with several big names from the NRL among the players.

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