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The Latest Breaking News from NAB

Economy up 0.6 per cent in third quarter

Aggressive interest rate hikes have done little to slow growth in the September quarter, with the economy expanding by 0.6 per cent over the three months.

AAP

NAB fraudster to await sentence in jail

A Sydney woman who defrauded National Australia Bank out of millions of dollars will spend Christmas behind bars as she awaits a sentence hearing next year.

AAP

Australians spend billions on Black Friday. Now the pressure is on Australia Post to deliver

Australia's massive spending spree through recent sales means Australia Post will be under pressure to deliver gifts in time for the holidays.

The New Daily

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ASX falls as share rally fades, economists bake in RBA interest rate rise on Tuesday

The ASX extends losses into the close, as investors take stock following yesterday's Jerome Powell-inspired share market surge and ahead of next week's Reserve Bank meeting.

ABC News

Dip in Australia’s inflation rate in October raises hopes price rises may have peaked

Headline CPI rate eases from 7.3% to 6.9%, lower than economists’ expectations, but fuel prices still rose as full excise rate returned

The Guardian - AU

NAB fraudster stays out of jail for now

Fraudster Helen Rosamond has been granted a short-term respite from jail after being found guilty of embezzling millions from the National Australia Bank.

AAP

Sydney executive guilty of huge NAB fraud

Sydney woman Helen Mary Rosamond will remain on bail after being found guilty over a multimillion-dollar NAB fraud.

AAP

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Sydney executive guilty over NAB fraud

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

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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AAP

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.

ABC News

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.

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AAP

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.

Newcastle Herald

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.

AAP

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

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

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.

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