The incoming boss of BHP says he is committed to Australia but has warned local investment was at risk as other nations cut red tape in pursuit of mining money.
Two ex-bank bosses have taken up key roles with Fortescue and BHP, with the Big Australian appointing former National Australia Bank chief Ross McEwan as its new chairman.
Our board moves wrap includes Mark Clements, Ross McEwan, Doman Wong, Myo Myint Ohn, Paul House, Brett Mitchell, Pedro Kastellorizos, Rachel Kerr, David Sanders, Matthew Blake, Scott Mison, Marc Ber, Michelle Blandford, and Natasha Santi.
Our weekly appointments wrap includes Emma Williamson, Rebecca Moore, Sallese McNeil, Lisa Jansen, Brendan Hurrell, Alan Myers, Monish Paul, Ross McEwan, Andrew Irvine, Niamh O'Connor, Gower He and Stephen Ross.
National Australia Bank has posted a nearly 80 per cent rise in full-year earnings thanks to gains in the home loans market and a steady performance at its business banking unit.
Australia's big four banks have been quick to jump on board an expanded federal loan scheme to help steer small businesses through the spate of coronavirus lockdowns.
NAB has recorded a 94 per cent jump in first-half cash earnings to $3.3 billion, becoming the latest of the major banks to post a rebound in fortunes amid improving economic conditions.
National Australia Bank enjoyed a 47 per cent increase in cash earnings during its first quarter trading, helped by improving economic and health outcomes in Australia and New Zealand.
NAB chief executive Ross McEwan expects the Australian economy will be back to pre-COVID levels by the end of next year, but acknowledges some of the bank's customers face a long struggle.
Investors believe National Australia Bank's seven per cent drop in third quarter cash profit was not as bad as feared, and have raised the bank's share price.
National Australia Bank's first-half result will be rocked by a $1.14 billion triple hit of extra charges and writedowns even before coronavirus impacts are factored in.
National Australia Bank has tasked former Commonwealth Bank of Australia retail boss Ross McEwan with rebuilding the bank's battered reputation as its new chief executive and managing director.
