Good afternoon, National Australia Bank's new chief, Andrew Irvine, unveiled a drop in interim cash profit of almost 13 per cent on Thursday but cheered up investors by pumping an additional $1.5bn into its share buyback. And despite the nation's economic trials and tribulations he says Australia's businesses are remarkably resilient. Meanwhile, if Bonza is ever going to fly again - and many have their doubts - then it won't be before at least Wednesday of next week, as negotiations continue over the grounded fleet. And a fight for control of Australia's Namoi Cotton is being waged with Middle Eastern oil money. One of the suitors has the backing of Saudi Arabia's Crown Prince Mohammed bin Salman and the other from the Abu Dhabi sovereign wealth fund. Gains by the major banks after NAB's results boosted the sharemarket on Thursday. At the close of trade the ASX 200 had risen 0.2 per cent to 7587.0 points, while the All Ordinaries also gained 0.2 per cent to 7849.4 points. |