NAB dips as external CEO push starts
Analysts have given NAB's plans to reset the bank's culture the thumbs up however momentum behind a push for an external candidate is growing.
Analysts have given NAB's plans to reset the bank's culture the thumbs up however momentum behind a push for an external candidate is growing.
The NAB chief presented a different sort of leadership style, even if what what he saw as his personal strengths - his openness and the trust he put in people - came back to bite him.
Defence Minister Christopher Pyne expects more banking CEOs to quit, saying the royal commission's evidence had been damning.
Australian shares are trading lower this morning amid concerns China and the US are unlikely to reach a timely trade deal, while NAB shares had slid.
Macquarie's head of wealth management Bill Marynissen and executive director Rob Johnston will leave the bank.
Westpac CEO Brian Hartzer says Commissioner Hayne's final report will drive profound change but the rising cost of financial advice may price some consumers out of the market.
NAB has been the worst performing big four bank for a good reason. It has had a succession of chief executives who have failed to deliver what was promised.
Foxtel's direct-to-consumer sports streaming service Kayo has delivering 100,000 paying subscribers.
REA Group's new CEO, Owen Wilson, thinks home buyers will still seek "quality brokers" regardless of any changes arising from the royal commission.
Canva co-founder Melanie Perkins isn't a household name but that could change if she achieves her grand vision of "empowering the world to design".
ME Bank, which is owned by 26 industry super funds and relies on mortgage brokers for 70 per cent of home loans, has urged a slow approach to reforming commissions.
NAB's embattled chief executive Andrew Thorburn and chairman Ken Henry have capitulated to growing pressure and resigned from the bank. "Andrew and I are deeply sorry," the chairman said.
Norsk Hydro warned it would miss its 2019 savings targets due to restricted output in Brazil and higher material costs.
Australian shares soared to a four-month high a day after the Reserve Bank of Australia indicated it is open to cutting interest rates, lifting shares of dividend-friendly property and bank stocks.
Reserve Bank governor Philip Lowe is met with bemused looks from former RBA heads when he talks of his determination to lift wages and inflation higher.
The Australian sharemarket closed at four-month high on Thursday as better-than-expected results were rewarded with strong gains.
Japan has shown the limits of what central banks can do on their own.
A 24-year-old with a HECs debt and no prospect of owning a house has no sympathy for somebody who enjoyed a free education and is now complaining about losing a tax refund even though they pay no tax.
Australia has been more reluctant than the US and Europe to embrace private equity. Is that about to change?
Ken Henry once said he would have to throw Andrew Thorburn under the bus one day. He never would have expected to get run over at the same time.
Kenneth Hayne might have spent a little more time on responsible borrowing as well as responsible lending.
One lucky guest at Canberra's Kurrajong Hotel was blessed to sit metres away from a rather intimate conversation.
A key architect of Australia's financial system says he feels chastened and rebuked for underestimating bad conduct by the banks and admits the regulatory system needs to be more vigorous.
The federal government will take its "big stick" energy legislation to the next election in the likelihood it fails to pass before the election.
Indian energy giant Adani has yet to sign a royalties agreement with the Queensland government for its controversial $2 billion Carmichael mine.
An ASIO warning that Kerryn Phelps' bill to allow medical evacuations of boat people would undermine border protection has triggered a new war over boat people.
A meeting between Donald Trump and Xi Jinping before the truce over their trade war expires on March 1 is "highly unlikely", according to reports out of the White House.
British and EU officials will resume talks, likely delaying a parliamentary crunch vote until later in February - but Australian exporters are in need of certainty by next week..
Stability in Northern Ireland was always entwined with the European Union. Now Brexit is exacerbating old divisions.
A senior American negotiator has arrived in North Korea to sort out crucial details for a nuclear summit meeting in Vietnam between President Donald Trump and the North's leader, Kim Jong-un.
Trade Secretary Liam Fox said the plan to slash all tariffs to zero after a no-deal Brexit is only "a possibility among possibilities".
According to a researcher who studied 10,000 millionaires, there are three mortgage-related traps home owners can fall into that ruin their chances of building wealth.
ME Bank, which is owned by 26 industry super funds and relies on mortgage brokers for 70 per cent of home loans, has urged a slow approach to reforming commissions.
It's important to have an investment strategy that deals with events like the royal commission and possible changes to dividend imputation rules, writes John Wasiliev who answers your questions on superannuation.
The venture capital community can see a future where the top five companies on the ASX are technology businesses and not banks.
Commonwealth Bank and ANZ got off relatively lightly after a more sympathetic performance on the witness stand.
Culture Amp co-founder and CEO Didier Elzinga once baulked at a $400 airfare. Now the start-up is on track for $US100 million revenue by 2020.
Faith in the banks has been shaken, and they in turn are shaking up their workplace cultures.
She’s not just on T-shirts – Hello Kitty now has four themed rooms in a Tokyo hotel.
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