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Superannuation

NAB confirmed FX trading loss at $185 million

AAP  |  MONDAY, 19 JAN 2004
National Australia Bank today confirmed the pre-tax loss on the unauthorised foreign exchange trading is $185 million.

Corporate credit outlook stable for 2004

AAP  |  MONDAY, 19 JAN 2004
Credit quality in Australia and New Zealand should stabilise in 2004 after a spike in corporate ratings downgrades last year, according to ratings agency Standard & Poor's.

NAB refuses to comment on accusations

AAP  |  MONDAY, 19 JAN 2004
National Australia Bank warned the four rogue currency traders behind losses of $180 million that suspended employees risked breaching bank rules by speaking publicly.

Macquarie's Korean road fund raises additional $304 million

AAP  |  FRIDAY, 16 JAN 2004
Macquarie Bank Ltd and Shinhan Bank hasannounced the third close of the Korean Road Infrastructure Fund raising an additional $304 million.

NAB trader says bank knew all along

AAP  |  FRIDAY, 16 JAN 2004
The man at the centre of the $180 million rogue trading scandal at the National Australia Bank Ltd has hit back at claims by the bank that his transactions were unauthorised.

NAB calls in accountants as forex investigation deepens

AAP  |  FRIDAY, 16 JAN 2004
National Australia Bank has called in outside expert assistance as it expanded a review of a $180 million rogue trading scandal into a full-scale investigation.

WRF launches seventh property syndicate

AAP  |  FRIDAY, 16 JAN 2004
WRF Securities has released its seventh property Syndicate through subsidiary WRF Property.

AMP says demerger sparks 83% net cash flow rise

AAP  |  FRIDAY, 16 JAN 2004
AMP Ltd's customers have voted with their money in favour of its recent demerger with UK-based HHG.

NAB competitors stand by risk management systems

AAP  |  THURSDAY, 15 JAN 2004
The banking industry is reviewing its foreign exchange risk controls, in a bid to avoid a repeat of the $180 million rogue trading scandal at National Australia Bank.

JP Morgan to merge with Bank One

Finance giant JP Morgan Chase said Wednesday it will take over Bank One in a $US58 billion ($A75 billion) deal to create the United States' second-largest bank.