Money

Aussie lender NAB to cut 10% of jobs in markets

Published

9 months ago

August 28, 2023

ticker NEWS

National Australia Bank is reportedly set to initiate a significant workforce reduction in its markets division.

The bank is cutting around 60 jobs out of the 600-strong team, as part of a broader restructuring effort across all its business units.

This news comes from sources cited by the Australian Financial Review (AFR), which broke the story early on Monday.

Although the bank has not yet made an official internal announcement, it is expected that the layoffs could commence as early as this week. NAB, the country’s second-largest bank, appears to be following in the footsteps of its larger peers, Commonwealth Bank of Australia (CBA.AX) and Westpac Banking Corp (WBC.AX), which have already announced plans to cut hundreds of jobs in response to escalating costs driven by high interest rates and inflation.

The impending layoffs at NAB are anticipated to affect employees in capital markets roles within its corporate and institutional banking unit, where the markets division operates with a workforce of approximately 600.

Money

Why the meme-stock frenzy is unlikely to repeat

Published

3 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

3 days ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

4 days ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending