Daily Dispatches: NAB adds Axa, but might axe UK

Australian fund manager AXA Asia Pacific has accepted a $4.61bn takeover offer for its Australian and New Zealand assets from National Australia Bank, sidelining an AMP offer that was sweetened on Monday this week. he offer was revealed this morning ahead of NAB's annual general meeting in Melbourne, with NAB chief executive Cameron Clyne saying the acquisition would cement NAB's leadership in wealth management and business banking. (Sydney Morning Herald)

And NAB's UK banking operations have had several approaches about participating in the consolidation of the sector in that country, the bank's chief executive, Cameron Clyne, said today (The Australian)

Macquarie Private Wealth continues to expand its Western Australian business with the addition of two new advisers to its Perth-based team. Matt Rigg and Tim Reed have joined the team as private client advisers. (Money Management)

Treasurer Wayne Swan has accused three out of the four big banks of gouging customers by hiking interest rates higher than rises in the official cash rate. (Sky News)