Andrew Thorburn

Former 40under40 winner Andrew Thorburn is set to take the reins at National Australia Bank, following the retirement of long-serving chief executive Cameron Clyne.

More than a decade of 40under40 winners represent the changing face of new business in WA.

The alignment of chief executive salary packages with market capitalisation has been highlighted in Business News’ latest quarterly salary survey.

Retailers are increasingly trying to find a balance between having an online presence and getting shoppers through the door of traditional stores.

From mining to agriculture, technology and finance, 40under40 award winners have been making news this year.

National Australia Bank lifted annual profit to $6.34 billion and confirmed plans to sell its unprofitable UK business and the majority of its life insurance arm.

National Australia Bank shares jumped more than 4 per cent after the lender lifted first-half earnings 6.5 per cent to $3.31 billion.

National Australia Bank chief executive Andrew Thorburn will tell a parliamentary committee that his bank had to balance the needs of borrowers, savers, investors and shareholders when it decided not to pass on in full the Reserve Bank's latest rate cut.

National Australia Bank has completed the sale of 80 per cent of its life insurance business to Nippon Life, and expects a loss of between $1.2 billion and $1.3 billion on the deal.

National Australia Bank has held its final dividend unchanged at 99 cents after lifting full-year cash earnings 4.2 per cent to $6.48 billion.

National Australia Bank has called for greater leadership from government and more collaboration with business to help lift slow economic growth and create jobs.

National Australia Bank has warned it will continue to face increased funding costs and competition after first-quarter unaudited cash earnings slipped about 1 per cent to $1.6 billion

National Australia Bank has lifted first-half profit to $3.29 billion while putting more money aside for soured loans amid an impending oversupply of east coast apartments.

Big banks have warned that customers and shareholders will carry the cost of the federal government's surprise $6.2 billion levy on Australia's largest financial institutions.

The new bank levy has opened a Pandora's box that leaves Australia's biggest financial institutions exposed to even higher costs in future, according to a leading industry analyst.

National Australia Bank's mortgage rate hikes have helped the lender lift third-quarter cash profit 5 per cent to $1.7 billion.

National Australia Bank chief executive Andrew Thorburn insists the bank lifted interest-only mortgage rates to meet regulatory requirements, not to make more money.

National Australia Bank will cut 4,000 jobs over the next three years even though it lifted full-year cash profit 2.5 per cent to $6.6 billion.