Maile Carnegie's departure shows Nuno Matos is shaking up ANZ
Maile Carnegie knew her number was up before ANZ's new chief executive, Nuno Matos, officially replaced Shayne Elliott on May 12.
Having been passed over for the top job, it didn't take Carnegie, head of ANZ's Australian retail business, too long to figure out that Matos was likely to bring in his own people.

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Perth Now
25 minutes ago
- Perth Now
Australian shares dip as Trump floats Iran deadline
The Australian share market is trading lower as Middle East strive continues and amid Donald Trump's two-week window to decide whether the US will join Israel's conflict with Iran. The S&P/ASX200 fell 56.2 points, or 0.67 per cent, to 8,466.9, as the broader All Ordinaries slipped 53.9 points, or 0.62 per cent, to 8,687.5. The slump came as the Middle East conflict weighed on investor sentiment and as thin trading conditions due to a US bank holiday sent European equities and US futures lower, market analyst Kyle Rodda said. All signs pointed to a weak finish for the ASX this week. "Like last week where hostilities were boiling over, market participants may be reluctant to hold onto risk exposure over the weekend when a historic US strike on Iran nuclear facilities is an uncomfortably high possibility," Mr Rodda said. Only two of 11 local sectors were trading higher by lunchtime, with both energy and IT stocks up 0.2 per cent. Financials weighed heavily on the bourse, down 1.3 per cent and wiping out Thursday's gains as the big four each lost between 1.2 per cent and 2.2 per cent. The slip came as expectations for a Reserve Bank interest rate cut in July fell from 86 per cent to 78 per cent. Likewise, rate-sensitive consumer-facing stocks were the next worst performing sectors, with discretionaries down 0.9 per cent and staples sinking 0.7 per cent. As attacks in Israel and Iran escalated overnight, oil prices spiked almost three per cent to $US77.50 a barrel, their highest level since January, before settling $US75.83 a barrel after Trump's deadline eased fears of an imminent US attack. Woodside was up a modest 0.5 per cent to $25.77 a share by midday. Materials stocks edged 0.1 per cent lower, as iron ore prices edged higher to take some pressure off large cap miners BHP, Rio Tinto and Fortescue. Gold continues to consolidate tightly to trade at around $US3,380 ($A5,125) an ounce. Australian gold miners were mixed, but larger players Northern Star and Newmont edged higher, while Evolution slipped 0.2 per cent days after multiple UBS downgrades indicated the sector's easy gains could be behind it. The Australian dollar is buying 64.76 US cents, up slightly from 64.71 US cents on Thursday at 5pm.

Sky News AU
an hour ago
- Sky News AU
Labor mulling family trusts and electric vehicle rebates in major tax reform shakeup for second term economic agenda
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Perth Now
2 hours ago
- Perth Now
Simple change making Aussies $125k better off
The average young Australian is tipped to be $125,000 better off in their retirement simply by staying in the workforce, a major superannuation fund reveals. Australian Retirement Trust says the rise in the superannuation guarantee over the last five years is 'good news' for Australian workers who will have more in their retirement nest egg. Under changes to the superannuation guarantee proposed by the Rudd government and enacted by the Morrison government, every working Aussies superannuation rate automatically went from 9.5 to 12.00 per cent. The changes were brought in incrementally, up 0.5 per cent a year, with the final change starting from July 1 2025. Australians tipped to be $125k better off when they retire. NewsWire / Nicholas Eagar Credit: NewsWire According to the Australian Retirement Trust this five year plan will now see a 30-year old earning $100,000 retire with an additional $125,000 when they finish up their careers. Australian retirement trust executive general manager for advocacy and impact, Anne Fuchs, said the boost to the SG rate is good news for all working Australians. 'This half per cent step may seem small, but for working Australians, it's like reaching the summit of your own financial Everest,' Mrs Fuchs said. 'Since the Superannuation Guarantee was introduced in 1992, it has become the cornerstone of Australia's retirement system – evolving from a modest 3 per cent contribution to a robust framework that provides you with meaningful savings for your future.' Separate research from the Association of Superannuation Funds said the increase from to 12 per cent will mean the median 30-year old worker making $75,000 a year will add about $20,000 to their superannuation balance by the time they retire. The ASFA predicts the average 30-year old worker will now achieve a comfortable retirement. NewsWire / John Appleyard Credit: News Corp Australia This $20,000 increase will mean the median 30-year old will retire with $610,000 in superannuation, above the $53,383 a year or $595,000 they would need for a comfortable retirement. Couples should fare even better. ASFA says a couple requires $73,875 a year or $690,000 combined in total to live comfortably in retirement using their super plus age pension top-ups. The major caveat to these figures for singles and couples is owning your own home by retirement. Check your superannuation rate While the rate of change might seem small, Australian Retirement Trust urges Aussies to check their superannuation rate. According to survey data by the super fund four out of every five Australians don't know how much they've put away for retirement, while only one in five can correctly identify the current superannuation guarantee. 'Whether you're just starting your career or nearing retirement, understanding these changes can help you make smarter financial decisions,' Ms Fuchs said. 'As we look towards our own retirement savings, we should also look towards ensuring the Superannuation Guarantee is fit-for-purpose as our nation ages and grows.