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Headline News

Asia markets: China stocks, Fed minutes, dollar and oil in focus

2018-02-22 cnbc
Asia markets were mixed in morning trade on Thursday, after a lower finish in U.S. stocks following the release of the latest Federal Reserve minutes. (2-0)

NAB workers latest to fall as automation transforms the economy

Six-thousand retrenched National Australia Bank (NAB) employees start leaving from this week, largely from the bank's Melbourne head office, as software takes over increasingly complex tasks. (2-0)

Canberra Times Letters to the Editor: NAB's cost-cutting illustrates the fallacy behind company tax push

Its reason is cost-cutting, ostensibly to cope with coming tougher competition, and to meet the costs of new technology. (2-0)

How Will Salesforce Get To $60 Billion Revenue?

2018-02-19 seekingalpha
2034 is a really, really long time away. That doesn’t stop Salesforce (CRM) from ambitiously shooting for $60 billion in revenue 16 years after they cross over $10 billion. In a recent investor presentation, Salesforce CTO Parker Harris announced their plan to reach $20 billion by 2022, $40 billion by 2028 and $60 billion by 2034. This would require Salesforce to grow at an annual rate of around 12% for the next 16 years. (2-0)

NAB set to axe first 1000 jobs under cost-cutting plan

NAB is preparing to axe the first 1000 jobs under a $1 billion cost-cutting drive announced last year to make it a "simpler, faster bank" as it prepares for tougher competition. (2-0)

ASIC boss: It's real money to real people

When the new chairman of the Australian Securities and Investments Commission, James Shipton, was told at a joint parliamentary committee hearing there was a perception that the corporate regulator wasn't feared, the response spoke volumes about Shipton's approach. (2-0)

Are university marks still relevant?

A student works hard at university, attends every lecture, prepares well for exams and earns top grades. Then is overlooked for a job interview because a prospective employer ignores university marks when hiring graduates. (2-0)

A modest proposal for well-behaved banks

Suddenly, banks are behaving nicely. They are no longer charging for the use of teller machines, the chief executive of the National Australia Bank took a day out of his $6.6 million a year job to sell copies of The Big Issue, and from this week it’ll be really, really easy to transfer funds. It’ll take seconds rather than days, and you won’t need to look up a BSB. You’ll be able to use a phone number or email address instead. (2-0)

APRA issues another warning on risky investor loans

Banks would be forced to set aside more capital against mortgages to property investors and home buyers who are are only paying interest, under a new plan to counter risks in the home loan market. (2-0)

Banks wary of higher fraud risk from real-time payments

Banks are on guard for an increase in money-transfer scams targeting Australian customers, as a shift to near real-time payments pressures banks to detect suspicious transactions more quickly. (2-0)

NAB launches world’s first mixed green building bond

The National Australia Bank has launched a $2 billion mortgage-backed bond that features a climate-conscious component, marking a world first in mixed bonds. (2-0)

S&P/ASX 200 closes up 35 points as investors recover a bit of poise

National Australia Bank's business confidence index jumped 6 points to 19 points in January, which is materially above the long-run average of 5 points. (46-0)

Banks edge closer to instant payments

Three of Australia's big four banks have begun rolling out their new $1 billion payment system that allows customers to transfer funds between rival institutions in near real-time. Customers will be able to pay tradies or transfer cash to family and friends almost instantly, bringing the financial services sector into line with digital payments in other sectors like e-commerce and retail. "This will give consumers new levels of personalisation and innovation not seen before in Australia," Westpac general manager Di Challenor said. (2-0)

Business confidence up: National Australia Bank survey

AUSTRALIAN business confidence has hit a nine-month high reflecting an improved global outlook, says the National Australia Bank. (2-0)

Bank transfers in less than a minute as real-time payments rolled out

Three of the big four banks will start rolling out a near real-time payment system from Tuesday, as the biggest overhaul of payments infrastructure in two decades is launched to the public. (2-0)