Thorburn hits the road to defend legacy
![NAB CEO Andrew Thorburn maintains silence as he heads to work just after 7am. Supplied by Nine News.](http://web.archive.org./web/20190205022118im_/https://www.afr.com/content/dam/images/h/1/a/v/4/d/image.related.afrIndexLeadWide.460x260.h1av3v.gshfrb.png/1549331315471.jpg)
As speculation builds his position is untenable, NAB chief Andrew Thorburn went on a media blitz on Tuesday morning to defend his legacy and the actions of the bank after cancelling his long-service leave.
As speculation builds his position is untenable, NAB chief Andrew Thorburn went on a media blitz on Tuesday morning to defend his legacy and the actions of the bank after cancelling his long-service leave.
Bank investors breathed a big sigh of relief after the final report from the royal commission into the financial services sector, and AMP and IOOF surged.
Commissioner Ken Hayne has delivered two stinging messages for directors that should resonate well beyond the financial services sector.
Scott Morrison has attacked Labor for playing politics with the royal commission's findings, while thanking Hayne and his team. Follow live here.
Surging banks push the ASX200 over 6000 for the first time in three months, but some mortgage brokers are tanking.
Retail sales fell 0.4 per cent during December as online sale events in November reduced consumer spending in the weeks before Christmas.
The biggest winners from the royal commission are demonstrably the big banks while the largest losers are mortgage brokers, writes Christopher Joye.
The Hayne findings delivered a fresh headache for car dealers providing finance, but the bigger problem for them is buyers are staying away.
AMP's chairman says the listed wealth giant will make some changes in the area of financial advice, but there will be no structural changes to its business model.
The four pillars of the banking system will be unshaken by Commissioner Kenneth Hayne's final report, which leaves the core businesses of the big four bruised, but not broken
Navitas' University Partnership division boosted revenue by 6 per cent in the December half, while net profit tumbled.
Commissioner Ken Hayne declared he is not convinced that CEO Andrew Thorburn and chairman Ken Henry have learnt the lessons of past misconduct.
UBS analysts said despite the prospect of criminal charges, the 76 recommendations tabled would not be material.
A black cloud that has hung over bank stocks for 13 months has been lifted by Hayne's benign recommendations, according to Yarra Capital Management's Dion Hershan.
The fearsome beast that's menaced Australia's financial services industry for the past year turns out to have been a paper tiger.
Veteran bond fund manager Bill Gross - he once managed a $405b fund - is retiring to focus on managing his personal assets and charitable foundation.
US equity bulls and trend-following quants are sleeping easier after some much-needed therapy from Jerome Powell.
The big four banks have emerged from the final report of the Hayne royal commission with no obvious threats to their core money-making operations.
Australia could be about to follow the lead of Iceland, the only country that has ever put top finance executives behind bars.
Do not be surprised if ASIC is leant on to fast-track a referral and have someone sent to the gallows before election day.
Kenneth Hayne rightly puts duty and enforcing the law over radical restructuring of financial services.
The federal government will adopt 75 of the 76 recommendations made by the Hayne royal commission but has baulked at fully implementing a crackdown on brokers.
A new independent watchdog will police the regulators who have been directed by the Hayne royal commission to punish misconduct more aggressively by pursuing court action to deter wrongdoing.
Bell Potter says investors can dodge the impact of Labor's franking policy by switching part of their investment into high-yield bonds.
Stricter and and clearer rules for lending to farmers will come into force to better protect agricultural property owners in times of drought and financial distress.
Former deputy tax commissioner Michael Cranston has said his son was threatened by a bikie gang linked to a former business associate.
Nissan's decision not to go ahead with X-Trail production in Britain is unrelated to Brexit but has triggered another bout of doom and gloom.
Digital-asset exchange Quadriga CX has a $US200 million problem with no obvious solution - just the latest cautionary tale in the unregulated world of cryptocurrencies.
Donald Trump is expected to resurrect his push for Democrat support to spur infrastructure spending in his delayed State of the Union address to Congress.
German's Angela Merkel is willing to talk to Theresa May, but can she offer enough to satisfy Britain's truculent parliament?
Elon Musk has tweeted videos and pictures revealing the first firing of the new Raptor rocket engine that will power SpaceX's prototype Starship, the vehicle designed to carry humans to Mars.
Taiwan Semiconductor Manufacturing Company's shares have been laggards over the past year but appear to have stabilised, with much of the current down-cycle already priced in.
Ending the arrangement where necessary will reduce the administration and auditing fees of your self-managed superannuation fund.
Mortgage brokers are fuming about the government's move to kill trailing commissions, warning this could cause upfront commissions to rise.
Should I say something to a work colleague who is about to buy a house and doesn't know they might be facing redundancy?
Bookseller Dymocks is beginning a new chapter in its growth story with its tutoring business Potentia.
Publicis Media global managing partner Belinda Rowe has been appointed to the board of Here, There & Everywhere.
If multitasking has left you feeling as if you do a lot but achieve little, it's time for a rethink.
How much are you willing to sacrifice in exchange for solving the biggest problem with smart watches, the battery life?
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