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Market Wrap

AAP  |  TUESDAY, 30 MAR 2004
The Australian consolidated above $US0.7450 after the yen and the euro made further gains against the US dollar overnight. At 0700 AEST the Australian dollar was trading at $US0.7473/78 compared with yesterday's close of 0.7450/60. It traded between ...

Walter demands new NAB chair ahead of general meeting

AAP  |  MONDAY, 29 MAR 2004
Embattled National Australia Bank (NAB) director Catherine Walter has conditionally agreed to quit, with the replacement of Graeme Kraehe as chairman among her list of demands. Walter late yesterday said she was lodging notices with the NAB company ...

NAB dividends appear safe, says analyst

AAP  |  FRIDAY, 26 MAR 2004
National Australia Bank's high dividends do not appear to be in danger despite the demands placed on the bank by APRA yesterday, according to one analyst. NAB generates around $1.5 billion in excess capital every year with a dividend pay out in the ...

Market Wrap

AAP  |  FRIDAY, 26 MAR 2004
The Australian dollar opened slightly lower, losing ground against both the United States dollar and the euro. At 0700 AEDT the local unit was trading at $US0.7382/87, compared with yesterday's close of 0.7444/49. Overnight, it traded between $US0.7372 ...

APRA raised risk management concerns in January 2003

AAP  |  THURSDAY, 25 MAR 2004
Australia's banking regulator raised concerns about risk management at National Australia Bank with the bank's board in January 2003, according to a report out yesterday on the forex trading scandal at NAB. The Australian Prudential Regulation Authority ...

ING announces outsourcing of wrap service admin

AAP  |  THURSDAY, 25 MAR 2004
Wealth manager ING Australia has finalised an agreement with Macquarie Investment Management to outsource the systems and administrative functions of its wrap service, it said yesterday. ING Australia remains the legal responsible entity and will retain ...

Cashcard shareholders approve sale of company

AAP  |  THURSDAY, 25 MAR 2004
Shareholders in Australia's largest automatic teller machine (ATM) provider, Cashcard Australia, yesterday approved the sale of the company to United States-based First Data Corp. Cashcard said that shareholders had approved a scheme of arrangement ...

Market Wrap

AAP  |  THURSDAY, 25 MAR 2004
The Australian dollar opened weaker, tracking the euro lower after comments from senior European central bank (ECB) officials raised speculation of possible rate cuts in Europe. At 0700 AEDT the local unit was trading at $US0.7549/53, compared with ...

FPA projects $2 million deficit, plans to scrap education services

Preparation for the Financial Services Reform Act has been very costly for the Financial Planning Association (FPA), chairman Steve Helmich revealed yesterday. Releasing unaudited half-year results, the FPA projected a deficit of $2 million for the ...

NAB set to go public with APRA report into forex scandal

AAP  |  WEDNESDAY, 24 MAR 2004
National Australia Bank will today release most, if not all, of a damning report by the financial services watchdog on a breakdown in its risk management systems, according to a newspaper report. The report said both NAB and APRA (Australian Prudential ...