National Australia Bank News

THE denim and T-shirt seller Jeanswest is suing National Australia Bank in Victoria's Supreme Court after the bank backed away from its plan to take over the lease of a substantial retail outlet in Sydney's prime Pitt Street shopping precinct.

National Australia Bank chief executive Cameron Clyne has appointed one of the members of his ''kitchen cabinet'' to oversee the run-down of unwanted assets that used to sit within its recently-axed institutional banking division.

NATIONAL Australia Bank has created a new role to manage the exit of discontinued businesses within nabCapital.

The latest stumble comes on the heels of the bank's out-of-cycle interest rate rise on variable mortgages, which also sparked intense criticism.

KELLY O'Dwyer, a high-flying young banker and confidant of Peter Costello, has emerged as strong favourite to succeed the former treasurer in the blue-ribbon seat of Higgins.

The cost of protecting Asia-Pacific corporate and sovereign bonds from default jumped after U.S. and European unemployment data fueled concerns the global economic recovery is stumbling.

Great Western Bank says it has completed its acquisition of 20 branches of First Community Bank and the Wachovia Bank branch located in Canon City, Colo.In a release, Great Western Bank says it has acquired about $600 million in deposits and $380 million in selected loans.

Stocks to watch on the Australian stock exchange on Friday: BHP - BHP BILLITON LTD - up 40 cents at $34.30 FRS - FERRAUS LTD - up 2.5 cents at 50.5 cents MTH - MITHRIL RESOURCES LTD - down one cent at 14 cents BHP Billiton and Mithril Resources have withdrawn from the Silver Swan North nickel and gold joint venture, with full ownership of the ...

National Australia Bank's automatic teller machine disloyalty fee has won it a 10 per cent rise in customer loyalty since the new ATM fee regime was introduced.

Data Domain, Inc., the leading provider of deduplication storage systems, today announced that Bank of New Zealand , a subsidiary of National Australia Bank Group, has implemented Data Domain's deduplication and replication solutions to increase the efficiency and reliability of data protection operations for its two primary data centres.

The bancassurance group, Suncorp-Metway, has appointed a British insurance and wealth management specialist as its new chief executive, increasing speculation that the company will eventually spin-off its troubled banking division.

As NAB's Technology Banking Australia head, Bright oversaw a team of more than 1 000 workers and, alongside Tredenick, charted the bank's IT strategy and offshoring initiatives.

Shareholders in Funtastic Ltd have given the green light to the toy wholesaler's acquisition of Hong Kong-based NSR Ltd and a $22 million capital raising to secure an extension of its banking facilities.

There's a commonly held belief that the reason our financial system emerged relatively unscathed from the worst of the global meltdown was because Australia's regulatory regime was far superior to that of other nations.

The market is breaking even - " up 0.3 - " in line with the SFE Futures that predicted an unchanged market this morning.

First State Bancorporation today announced that it has completed the sale of its Colorado branches to Great Western Bank, a South Dakota-based subsidiary of National Australia Bank.

THE National Australia Bank says it is the first to deploy a voice biometrics system for phone banking, allowing customers to enrol via speech recognition and dispense with the need to remember PINs and passwords.

The Australian share market closed higher, with heavyweights BHP Billiton and National Australia Bank driving the gains.

TECH Mahindra, the new owners of troubled Indian IT services firm Satyam Computer Services, will hold high-level talks with key corporate clients in Australia next week in a bid to salvage its business and reputation.

GLOBAL ratings agency Fitch has affirmed National Australia Bank's long-term credit rating at AA with a stable outlook following the bank's $825 million cash acquisition of wealth manager Aviva Australia.