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The Latest Breaking News from NAB

Unemployment rate hit 48-year low in June

Economists are using words like "stunning" and "staggering" after Australia's unemployment rate fell to 3.5 per cent in June, the lowest rate since August 1974.

AAP

The Loop: Daniel Johns avoids jail, cargo ship crew rescued, Boris Johnson faces leadership questions, banks pass on rate rise

Here's your TL;DR for today's news.

ABC News

Record high business costs pushing up prices, eroding operator and consumer confidence

Small businesses are struggling with record high costs while trying to remain competitive, as consumer confidence falls in response to inflation and rising interest rates.

ABC News

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‘Fear factor’: Property outlook sours as banks predict record price plunge

Australians must brace for the worst housing downturn on record as rising rates and recession fears affect the property market, according to major banks.

The New Daily

Commonwealth Bank, ANZ, Westpac, NAB to raise variable mortgage rates by 0.25 per cent after RBA rate hike

All of Australia's biggest banks have lifted mortgage rates, matching the Reserve Bank's 25-basis-point increase.

ABC News

Revealed: How Australians are cutting back as the cost-of-living crisis bites

The worst cost-of-living squeeze in two decades is pushing Australians to make some major changes to their spending habits, a new report reveals.

The New Daily

Price spikes continue, with oil up and OECD forecasting highest inflation since 1988

Markets globally are in the red as the world faces continuing inflation and the likelihood it will be tackled with rising interest rates. The ASX finishes down again.

ABC News

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The Loop: High Court rules on citizenship, banks pass on rates rise, and why lettuce is so pricey

Here's your TL;DR for today's news.

ABC News

Banks crack down on high debt-to-income home loans as regulator APRA comes knocking

Two of Australia's biggest banks are moving to curb high-risk home lending, as the regulator reveals it has been warning some institutions to cut back on risky loans.

ABC News

NAB to introduce buy now, pay later product placing further pressure on existing operators

Standalone operators feel burden of rising interest rates and slowing growth as third big Australian bank enters BNPL scene

The Guardian - AU

Ziggy the Brisbane bag man's mission to access his money in the bank puts spotlight on homeless struggle

Ziggy has lived in parks around Brisbane's western suburbs for years and usually likes to keep to himself. But recently his friends reached out to help him with a big problem.

ABC News

Two tribal women held for possessing drugs in Manipur

NAB team recovers 1 kg of heroin from the two

The Hindu

Banks eye rate boost but headwinds remain

Australia's four major banks have all reported a squeeze on margins in their latest results, but that is certain to change as interest rates rise.

AAP

'Big four' banks made huge profits as Australians took out bigger mortgages for pricier housing

Australia's big four banks — ANZ, CBA, NAB and Westpac — now hold a whopping $1.87 trillion in home loans, and raked in big profits as Australians took on massive home loans.

ABC News

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AAP

NAB lifts first-half profit, dividend

National Australia Bank's first-half cash profit has risen 4.1 per cent, and the lender has also lifted its interim dividend to 73 cents a share.

ABC News

ANZ half-year profit jumps; ASX loses ground after Wall Street makes modest gains

As the big four banks lift interest rates following the Reserve Bank's move, ANZ posts a rise in half year profit, the ASX loses early gains and investors await an expected rate increase from the US Federal Reserve.

ABC News

Federal election: Rising interest and inflation rates dominate debate between Josh Frydenberg and Jim Chalmers — as it happened

Interest rates, cost-of-living pressures and how each party would start to repay our historic debt dominate the treasury debate. Look back at all the day's politics.

ABC News

A fugitive Chinese billionaire claims this cryptocurrency will overthrow Beijing. The trading platform denies concerns that it has some 'hallmarks of a scam'

An ABC investigation unravels a sophisticated cryptocurrency operation endorsed by a political movement founded by exiled billionaire Guo Wengui and former Trump adviser Steve Bannon.

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news in one place.

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The Guardian - AU

Australia’s official unemployment rate predicted to fall below 4% as staff shortages bite

Jobless rate set to sink to lowest rate since 1974 as employers say finding workers is ‘No 1 issue’, despite offering higher wages

The New Daily

‘Dangerous strategy’: Buy-now/pay-later grocery shopping sparks debt fears

Finance experts are concerned about the expansion of buy now pay later platforms into everyday shopping as supermarkets and petrol stations open their arms.

ABC News

EV battery manufacturer Novonix gains 9pc as critical minerals boosted, but ASX closes down

Instability and inflation continue to weigh on global markets, with the Australian market finally coming down off a winning streak to follow sentiment down.

ABC News

Wall St gains despite 'yield inversion' recession warning, Telstra CEO steps down

Australian shares have risen the day after the federal budget, however analysts say the cash splash wasn't "market-moving" and the benchmark more likely followed Wall Street's optimism about the war in Ukraine easing.

The Hindu

NAB, police raid poppy fields in Manipur

Move comes after strict orders from Manipur CM

ABC News

Russia to sell gas in roubles as sanctions bite, ASX turns positive on oil rally

Commodity markets are set to be further disrupted, with Russian President Vladimir Putin saying unfriendly countries such as the US and those in the EU will have to pay for gas in roubles. The ASX edged higher as oil prices rallied.

AAP

Star gambler's China bank card paid debt

An inquiry has heard that a Chinese-born property developer paid casino debts with bank cards that were used to disguise gambling expenses at The Star casino.

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