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XJO:NAB, Dec 14, 11:04 UTC

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Australia shares inch up, focus on Sino-U.S. trade talks; NZ gains

NAB

Visit our Privacy Policy to learn more or manage your personal preferences in our Cookie Consent Tool. Australia shares inch up, focus on Sino-U.S. trade talks; NZ gains. Dec 13 (Reuters) - Australian shares pulled ahead on Monday, though buyers lacked conviction after two sessions of solid gains as investors looked to more developments on Sino-U.S. trade talks amid tentative signs of easing tensions between the two economic giants. The S&P/ASX 200 index climbed 0.3 percent or 16.3 points to 5,669.80 by 0053 GMT with base metals and financial stocks leading the gains.

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Wednesday, December 12


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Australia's ANZ local group head steps down

NAB ANZ

U.S. Australia's ANZ local group head steps down. Dec 13 (Reuters) - Australia and New Zealand Banking Group on Thursday said its local head of retail and commercial banking would step down for personal reasons, as the bank ends a difficult year that has shaken up its executive ranks. Ahead of its annual general meeting next week, ANZ said Fred Ohlsson would step down from his current post, taking an extended period of unpaid leave to return to his native Sweden with his family. Mark Hand, the head of ANZ's business and private banking, will take Ohlsson's role, the bank said.

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Australia shares end firmer as U.S.-China tensions ease, NZ up

NAB

Dec 12 (Reuters) - Australian shares rallied on Wednesday, as U.S. President Donald Trump's positive stance on trade relations with China raised optimism of easing discord between the two nations. The S&P/ASX 200 index traded around half a percent up through most of the day before climbing 1.4 percent to end the session at 5,653.5, moving in line with global markets. Australia counts China as its top trading partner, and a slowdown in the Chinese economy from a trade war will directly affect Australian commodities exports. The Australian energy index was the best performer for the day, closing the session 2 percent higher, as energy stocks got a boost from a rise in oil prices. Origin Energy Ltd climbed 3.6 percent and hit its highest since Nov. 13, while Woodside Petroleum Ltd rose 2.3 percent and touched a one-week high; both were top boosts to the energy index.

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NAB drops RBA 2019 rate hike forecast

NAB

NAB drops RBA 2019 rate hike forecast By Joshua Gibson | December 12, 2018 01:03 GMT. As Australian economic data continues to slip further into contraction, and the forever-ongoing US-China tradewar threatening to further impact Australia's economy through second-hand attrition, the majority of major investment banks are pushing their forecasts for rate movement from the Reserve Bank of Australia (RBA) even further out than they were before. National Australia Bank (NAB) is the latest major bank to push out their RBA rate calls, and NAB is now expecting a rate hike to come from the RBA sometime in the second half of 2020; the bank initially was expecting two rate hikes spread throughout 2019, but lagging economic data sees the Australian central bank likely to remain in their current slump on rates, with over two years under their belts with rates where they currently are.

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Tuesday, December 11


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National Australia Bank (NABZY) vs. Industrial & Cmrcl Bnk f China (IDCBY) Head to Head Survey – PressOracle

NAB

National Australia Bank (NABZY) vs. Industrial & Cmrcl Bnk f China (IDCBY) Head to Head Survey – PressOracle. Industrial & Cmrcl Bnk f China (OTCMKTS:IDCBY) and National Australia Bank (OTCMKTS:NABZY) are both large-cap finance companies, but which is the better investment? We will contrast the two businesses based on the strength of their earnings, institutional ownership, valuation, risk, dividends, profitability and analyst recommendations. National Australia Bank pays out 88.5% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future.

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Monday, December 10


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NAB Lahore claims to recover Rs1.991 billion in 2018

NAB

NAB Lahore claims to recover Rs1.991 billion in 2018. ISLAMABAD: The National Accountability Bureau (NAB)'s Lahore chapter in its recently issued annual report claimed of making recoveries amounting up to Rs1.991 billion during the current year. The anti-graft watchdog said that it arrested 204 people on the corruption charges including former Punjab Chief Minister Shehbaz Sharif, former Principal Secretary Fawad Hasan Fawad, former MNA Raja Qamarul Islam, former Punjab Vice-Chancellor Mujahid Kamran. The NAB said that as many as 34 inquiries were started under its policy, 'Accountability for all', and over 50 cases were filed in the accountability courts.

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AustralianSuper to cast protest vote against bank pay plans

NAB

SYDNEY (Reuters) - Australia's largest pension fund, AustralianSuper, said it will vote against the executive pay of three of the country's biggest banks, in a show of the investment community's souring attitude towards the sector following a year-long misconduct probe. "AustralianSuper is disappointed at the approach taken by the boards at ANZ, NAB and Westpac over executive remuneration and will be voting against them at the upcoming AGMs," Ian Silk, AustralianSuper chief executive officer, said in a statement. "In what has been an annus horribilis for the banking sector, there has been a distinct lack of transparency from the banks around their rationale for paying executive bonuses this year." The Australian Council of Superannuation Investors (ACSI), which advises pension funds on how to vote at shareholder meetings, is also urging others to vote against bank executive pay.

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Wednesday, December 05


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A corporate travel scandal at NAB is reportedly looking at more than $110 million worth of trips

NAB

A corporate travel scandal at NAB is reportedly looking at more than $110 million worth of trips. The former chief of staff to three NAB CEOs, including Andrew Thorburn, has had her bank accounts frozen as part of an ongoing investigation by the NSW Crime Commission over potential kickbacks from a corporate travel company, The Australian reports. Your Money chief reporter Leo Shanahan says the investigation involves a decade of corporate travel supplied to the NAB by The Human Group while Rosemary Rogers was the the bank CEO chief of staff and involves up to $113 million worth of company trips. The Australian says police are investigating whether kickbacks were paid to bank staff as part of inflated travel contracts.

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Tuesday, December 04


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The Australian dollar goes hard into reverse as risk assets crumble

NAB

The Australian dollar went hard into reverse in late trade on Tuesday as investor risk appetite took a turn for the worse. Scant attention was paid to the RBA's December monetary policy statement despite widespread recognition that the tone from the bank was not as optimistic as that seen just a month ago. However, just when it looked like the Aussie would bust above the 74 cent level, it began to reverse hard as North American markets opened, reflecting a noticeable deterioration in investor risk appetite that was in complete contrast to the enthusiasm seen to start the week. Concerns about a significant slowdown in the US economy in the years ahead, assisted in part by renewed scepticism over the temporary trade truce agreed by the US and China last weekend, was cited as the catalyst behind the move. Despite concerns about the US economy based on the signals coming from the yield curve, the US dollar actually rallied during the session, helped by safe-haven flows and comments from John Williams, New York Fed President, who said that he sees "further gradual rate hikes over the next year or so".

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Amazon Picked by National Australia Bank, AWS Base to Expand (Revised)

NAB AMZN

This highlights the power and reliability of AWS services.National Australia Bank is leveraging AWS’ robust compute, storage, analytics and database capabilities in order to shift above 300 of its applications to Amazon’s cloud infrastructure.Further, the bank is utilizing Amazon Simple Storage Service, Amazon Redshift and Amazon Athena to build a data lake on AWS. Per a report from Gartner, the global cloud market is expected to reach $206.2 billion in 2019, reflecting year-over-year growth of 17.3% compared with 2018.We note that Amazon is capable enough to reap benefits from this rapidly growing market with the aid of its high-margin AWS, which generated $6.68 billion revenues in the last quarter and improved 45.7% on a year-over-year basis. Notably, the financial institutions are increasingly preferring the utilization of AWS infrastructure in their services.Apart from these banks, AWS has acquired few more clients within a couple of weeks.The Guardian Life Insurance Company of America, Amgen, Korean Air Lines, Mobileye, Ellie Mae ELLI and Pac-12 Conference are the other companies which have selected AWS for running the majority of their workloads and infrastructure.Notably, increasing adoption of AWS will aid its revenue generation which in turn will drive Amazon’s top-line.Coming to price performance, shares of Amazon have returned 51.5% on a year-to-date basis, outperforming the industry’s rally of 5.6%. Notably, the competition is intensifying in this space primarily due to advances being made by the other cloud providers namely Microsoft’s MSFT Azure and Alphabet’s GOOGL Google Cloud.Per the latest data from Synergy Research Group, Microsoft was the biggest gainer In the third-quarter 2018 with market share growing 2.5% while Amazon’s share increased by 1% in the cloud market.

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