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☆ Aussie lender NAB's quarterly margins decline on stiff competition
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. A high interest rate environment has benefited Australian banks, but they now face headwinds from rising bad debt and increasing competition for mortgages. Last week, the country's biggest lender Commonwealth Bank of Australia (CBA.AX) posted record annual profit on the back of rising interest rates, but warned higher living costs were pushing up debt arrears and competition was squeezing margins. NAB's net interest margin - a key measure of profitability - slipped to 1.72% in the April-June quarter from 1.77% as at March 31. The country's second-biggest lender, however, reported a 5% increase in cash earnings from higher interest rates.

Persons: Daniel Munoz, NIM, Ross McEwan, Upasana Singh, Archishma Iyer, Shilpi Majumdar, Shinjini Organizations: National, REUTERS, National Australia Bank, Commonwealth Bank of Australia, NAB, CBA, Analysts, Thomson Locations: Sydney, Australia, 3Q23, Bengaluru

☆ Aussie lender NAB's Q3 margins decline; shares up on cash earnings beat
▼ + stars: | 2023-08-14 | by ( Archishma Iyer | ) www.reuters.com time to read: +2 min

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. Shares of the country's second-biggest bank rose 1.3% to trade at A$28.70 at 0115 GMT. Last week, the country's biggest lender Commonwealth Bank of Australia (CBA.AX) posted record annual profit but warned higher living costs were pushing up debt arrears and competition was squeezing margins. "Consensus NIM expectations might need to moderate down, but the current run rate in earnings would suggest NAB is on track to deliver on fourth quarter FY23 cash earnings expectations," analysts from UBS wrote. It posted cash earnings of A$1.90 billion, compared with A$1.80 billion a year earlier and beating a Visible Alpha consensus of A$1.83 billion.

Persons: Daniel Munoz, NIM, Ross McEwan, Upasana Singh, Archishma Iyer, Shilpi Majumdar, Shinjini, Sohini Organizations: National, REUTERS, National Australia Bank, Commonwealth Bank of Australia, NAB, UBS, Thomson Locations: Sydney, Australia, 3Q23, Bengaluru

☆ Australia retail sales extend losing stretch to a third quarter
▼ + stars: | 2023-08-03 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

REUTERS/Daniel Munoz/file photoSYDNEY, Aug 3 (Reuters) - Australian retail sales volumes fell again in the June quarter as cost of living pressures and rising borrowing costs ate into consumer spending power, hampering economic growth and weakening the case for further interest rate hikes. Data from the Australian Bureau of Statistics on Thursday showed real retail sales fell 0.5% in the second quarter to A$35.2 billion ($23.02 billion), matching analyst forecasts. "The widespread fall in sales volumes reflects what retailers have been telling us about consumers focusing on essentials, buying less or switching to cheaper brands," said Ben Dorber, ABS head of retail statistics. Since sales account for around 17% of gross domestic product, the drop will weigh on economic activity and analysts expect barely any growth in the quarter. Thursday's data showed retail prices rose 0.9% in the second quarter, up from 0.7% the previous quarter.

Persons: Daniel Munoz, Ben Dorber, Alan Oster, Oster, Wayne Cole, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: REUTERS, Australian Bureau, Statistics, Reserve Bank of Australia, NAB, Thomson Locations: Sydney's, Australia

CNN —When four young indigenous children were found last week after 40 days in the Colombian Amazon jungle, their rescuers noticed that the oldest, 13-year-old Lesly Jacobombaire Mucutuy, had something hidden between her teeth. Muñoz told CNN the seeds were from a native Amazon palm tree called Oenocarpus Bataua, colloquially known as “milpesos” in Colombia. The accomplishment feels like a moment of pride for the indigenous community of the Colombian Amazon. One of the traditional tasks of indigenous women is to look after one’s siblings as if they were your own children. Traditional elders like Guerrero attempted to bridge a spiritual link with the children using traditional plants like tobacco, coca, and yagé, the sacred, hallucinogen plant also known as ayahuasca.

Persons: ”, Eliecer Muñoz, Muñoz, Eliecer Munoz, Daniel Munoz, ” Muñoz, “, –, Henry Guerrero, Lesly, Fidencio Valencia, milpesos, ” Guerrero, Ranoque Mucutuy, Nelly Kuiru, Kuiru, Manuel Ranoque, San Jose del Guaviare, Guerrero, Magdalena Mucutuy, Leslie, There’s, ” Kuiru, Ranoque, Magdalena Organizations: CNN, AFP, Getty, Army, Cessna, Colombian Military Forces, Reuters, Colombian Amazon, Colombian, Blackhawk, Colombian Amazon Institute of Scientific Research Locations: Colombian, ”, Colombia, Bogota, Caqueta, La, San Jose, Araracuara, Amazonas

☆ Australian regulator says banks paid $3.10 bln in compensation for wrongly charged fees
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +1 min

[1/3] Australian dollars are seen in an illustration photo February 8, 2018. REUTERS/Daniel MunozMarch 10 (Reuters) - Australia's corporate watchdog said the country's six largest banking services providers have paid or offered A$4.7 billion ($3.10 billion) in compensation to customers who suffered losses for fees charged for services that were not provided. The largest business lender in Australia, NAB, took the lead and coughed up A$1.49 billion in compensation as of the end of 2022, followed by CBA and Westpac coughing up a payout of A$1.13 billion and $1.03 billion, respectively. ASIC said its final update on remediation figures "draws a line" under its eight-year long programme of addressing financial institutions' failure to provide ongoing services to fee-paying customers. ($1 = 1.5177 Australian dollars)Reporting by Riya Sharma in Bengaluru; Editing by Krishna Chandra Eluri and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Column: Europe's gas price plunge churns up global coal markets
▼ + stars: | 2023-01-18 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

However, thanks to a recent plunge in European natural gas prices - down 60% since December 1 on mild winter temperatures, filled storage tanks and diminished industrial use - European coal prices and demand have slumped so far in 2023. WIDE SPREADThe divergent tones of Europe's and Asia's coal markets are captured by the record-wide price spread between them. This week, that spread surpassed $200 a tonne as Asia-focused Newcastle coal prices held firm around $370 a tonne while European coal prices slumped to $165. Over the near term, such actions will likely narrow the arbitrage window by applying pressure to Asia's coal prices. Those high stocks have in turn been a major driver behind the gas price falls seen since December.

☆ Australia's ANZ shareholders approve new holding structure
▼ + stars: | 2022-12-15 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO: A man talks on his phone in front of an ANZ Banking corporation tower in central Sydney, Australia February 20, 2018. REUTERS/Daniel Munoz/File Photo(Reuters) - Australia and New Zealand Banking Group said on Thursday its shareholders voted to establish a new holding company to separate its banking and non-banking businesses into two different groups. The move was initially announced in May, in an effort to prevent non-banking activities from affecting banking customers, a method several global banks have employed. 99.17% of votes were cast in favor of creating the non-operating holding company, ANZ Group Holdings Limited, which is expected to begin trading on the Australian and New Zealand exchanges from Jan. 4, 2023, ANZ said. The new corporate structure will need a court approval before it is implemented, which the bank expects to come by Dec. 19, it added.

☆ Factbox: Australia Inc roiled by raft of cyberattacks this year
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

[1/3] A woman uses her mobile phone as she walks past in front of an Optus shop in Sydney, Australia, February 8, 2018. The data exposed included home addresses, drivers' licences and passport numbers. AUSTRALIAN CLINICAL LABSAustralian Clinical Labs Ltd (ACL.AX), one of the country's largest pathology providers, said unit Medlab suffered a breach that exposed data of about 223,000 patients. TELSTRAAustralia's largest telecoms operator Telstra (TLS.AX) suffered what it called a small data breach, which exposed data of about 30,000 current and former employees dating back to 2017. Compiled by Jaskiran Singh in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Australia Inc roiled by raft of cyberattacks since late 2022
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +4 min

[1/3] A woman uses her mobile phone as she walks past in front of an Optus shop in Sydney, Australia, February 8, 2018. AUSTRALIAN CLINICAL LABSAustralian Clinical Labs Ltd (ACL.AX), one of the country's largest pathology providers, said unit Medlab suffered a breach that exposed data of about 223,000 patients. TPG TELECOMAustralia's No.2 internet service provider TPG Telecom (TPG.AX) said it had been notified of unauthorised access to a hosted exchange service that hosts email accounts of up to 15,000 business customers. CBACommonwealth Bank of Australia CBA.AX said its Indonesian unit, PT Bank Commonwealth (PTBC), had been hit by a cyber incident involving unauthorised access of a web-based software application used for project management. IPHAustralian intellectual property services provider IPH Ltd (IPH.AX) said it had detected unauthorised access to a portion of its IT environment, compromising information including administrative documents and some client documents.

[1/2] A woman uses her mobile phone as she walks past in front of an Optus shop in Sydney, Australia, February 8, 2018. This week 37 countries, including Australia, will meet at the White House with the goal of tackling ransomware and other cyber crime. Australian cybersecurity insurance premiums rose by an average of 56% year-on-year in the second quarter, said insurer Marsh & McLennan Companies Inc (MMC.N). The average Australian cybersecurity base salary is A$105,000, according to jobs website Glassdoor. Neil Curtis, an Australian cybersecurity executive of U.S. technology contractor DXC Technology Co (DXC.N), who runs a programme retraining military veterans in cybersecurity, said he had requests for about 300 trained personnel in the next six months.

☆ Optus, Australian govt clash over cyber attack amid reports of hacker retreat
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +3 min

A woman uses her mobile phone as she walks past in front of an Optus shop in Sydney, Australia, February 8, 2018. Optus Chief Executive Kelly Bayer Rosmarin said there was lot of "misinformation out there". Rosmarin said Optus had briefed authorities after the government's initial review of the incident. Stolen data posted in an online forum has been deleted and hackers have apologised to Optus, the reports said. Australia's Council Of Financial Regulators, which includes the central bank, on Tuesday said its members have been working together in response to the cyber attack.

☆ Australia's Optus contacts customers caught in cyber attack
▼ + stars: | 2022-09-24 | by ( ) www.reuters.com time to read: +2 min

A woman uses her mobile phone as she walks past in front of an Optus shop in Sydney, Australia, February 8, 2018. REUTERS/Daniel Munoz/File PhotoSept 24 (Reuters) - Australia's number two telecommunications company, Optus, said on Saturday it was contacting customers about a cyberattack that accessed personal details of up to 10 million customers, in one of Australia's biggest cybersecurity breaches. Optus has said corporate customers appeared unaffected by the "sophisticated" hack, which it initially informed customers about on Thursday. The Sydney Morning Herald on Saturday reported Optus was probing a threat to sell millions of customers’ personal information online unless the company paid $1 million in cryptocurrency to the hackers. Optus said as the attack was under police investigation it "cannot comment on certain aspects of the incident".

☆ Australia's Optus says up to 10 mln customers caught in cyber attack
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

A woman uses her mobile phone as she walks past in front of an Optus shop in Sydney, Australia, February 8, 2018. 2 telco Optus, owned by Singapore Telecommunications Ltd (STEL.SI), said it will contact up to 10 million customers whose personal details were taken in a "sophisticated" hack, but added no corporate clients were compromised. As many as 9.8 million accounts may be compromised, equivalent to 40% of Australia's population, but "that is the absolute worst case scenario (and) we have reason to believe that the number is actually smaller than that", Bayer Rosmarin said. Police and cybersecurity authorities were still investigating the attack which Optus told customers about on Thursday. As a major telco, Optus considered itself a target for cyber attackers and routinely repelled attempts to breach its systems but "this particular one is not similar to anything we've seen before, and unfortunately it was successful", she said.

☆ Cyber attack on Australia's Optus puts addresses, passport info at risk
▼ + stars: | 2022-09-22 | by ( Timothy Aeppel | ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterA woman uses her mobile phone as she walks past in front of an Optus shop in Sydney, Australia, February 8, 2018. Register now for FREE unlimited access to Reuters.com RegisterOptus said it immediately shut down the attack after discovering it, and that payment details and account passwords had not been compromised. The company's services, including mobile and home internet, are not affected, and messages and voice calls have not been compromised, it said. "Optus services remain safe to use and operate as per normal," the company said in a statement, adding that it has notified the Australian Federal police and other key regulators regarding the breach. Register now for FREE unlimited access to Reuters.com RegisterReporting by Tejaswi Marthi in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

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