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Australian banks enter tech arms race as rising rates squeeze profit

By Byron Kaye SYDNEY, May 18 (Reuters) - The 10-minute home loan - at the tap of a smartphone screen - is emerging as the next frontier in Australian banking as rising interest rates quash a pandemic-fuelled property boom, eating into mortgage income and renewing focus on cost-cutting tech. The Big Four lenders booked blockbuster profit during the
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UK shares mark worst week since March as economy worries grow

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) * BA-owner IAG trades near 1-month low * Beazley gains after posting surge in gross premium * FTSE 100 down 1.5%, FTSE 250 sheds 1.4% (Updates to market close) By Sruthi Shankar May 6 (Reuters) - UK stock indexes posted their biggest weekly
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Australia bank NAB warns on costs after boosting H1 profit, dividend

* H1 cash profit rises 4.1% * AUSTRAC settlement to cost A$80-A$120 mln/yr through fiscal 2024 * RBA rate hikes to be moderately positive to H2 margins By Shashwat Awasthi and Byron Kaye May 5 (Reuters) - National Australia Bank Ltd NAB.AX increased its dividend as a surge in home and business loans helped lift first-half profit but the country's N
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National Australia Bank agrees to rectify money laundering concerns by 2024

May 2 (Reuters) - National Australia Bank NAB.AX said on Monday it had entered into an agreement with Australia's financial crime regulator to address concerns around suspected serious breaches of anti-money laundering and counter-terrorism laws at the lender. The country's second-largest lender revealed in June last year it was under investigation
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Australian shares end lower as global rate hike bets firm

(Updates to close) By Navya Mittal April 6 (Reuters) - Australian shares ended lower on Wednesday, weighed by technology stocks which tracked Wall Street overnight, as investors brace for the possibility of aggressive interest rate hikes. The S&P/ASX 200 .AXJO fell as much as 1.2% during the session, but pared some losses to close 0.5% lower at 749
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