Business

Scam targets NAB customers with fake website

National Australia Bank has jacked up rates for owner occupiers and residential property investors, but launched a ...

NAB online banking customers are latest target of an email scam that tells victims their account has been disabled before prompting them to enter their password into a fake website.

ASIC to strengthen 'Chinese walls'

ASIC chairman Greg Medcraft said upcoming guidelines aimed to preserve the independence of analyst research.

The corporate regulator is pushing investment banks and stockbrokers to strengthen their handling of conflicts of interest and inside information when producing equity research for investors.

Westpac to offload up to $645m in BTIM shares

Westpac will see a small improvement in its capital position by selling down its stake in BTIM.

Westpac is selling its remaining stake in fund manager BT Investment Management, offloading up to $645 million worth of stock to institutional investors and signalling it intends to ultimately sell all shares it holds in the business.

Bank rout wipes $50 billion in May

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Some $50 billion has been wiped off the combined market value of Australia's major banks since their highs at the start of this month, as investors eye a more challenging outlook for the big four.

Tensions rising over mortgage broker commissions

There are predictions banks may cut commissions to mortgage brokers, who write more than half of all new home loans.

One of the country's biggest mortgage brokers is asking regulators to monitor any moves by banks to cut their commissions, amid speculation these payments could be chopped as banks try to offset the budget's tax hit.

Jet owned by Elvis sold after 35 years

The private jet once owned by Elvis Presley.

A private jet once owned by Elvis Presley has been sold for more than half a million dollars after sitting on a runway in Roswell, New Mexico, for 35 years.

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