Concern in Australia as Trump flags increased tariffs
US President Donald Trump has unexpectedly floated the possibility of doubling the baseline tariff imposed on all imports to his country.
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The Australian
a minute ago
- The Australian
Simon Goodwin sacked as coach of Melbourne
Melbourne coach Simon Goodwin has been sacked. The premiership-winning coach was told of the decision by the club's board on Monday night. Goodwin will receive a near one million dollar payout for next season. The board had lost faith in the team's direction under Goodwin. Since a historic 2021 premiership, the Demons have missed finals in 2024 and 2025 after two failed September campaigns in 2022 and 2023. While he was contracted for next season, senior Melbourne officials told Goodwin on Monday night that they wanted a change for 2026. The club is expected to hold a press conference at midday Tuesday. It is a bold call from the club, which is undergoing considerable change in its off-field leadership ranks, which has contributed to instability at the Dees this year. New CEO Paul Guerra will take over on September 8 with interim CEO David Chippindall leading Melbourne in his absence this season. Demons champion Brad Green has been a caretaker president, with respected former MCC boss Steven Smith set to take over as club president at the end of the year. The board had empowered Goodwin to make considerable change to the game style and team this season after conceding both its method and personnel which took it to the 2021 flag needed an overhaul. Despite a poor start to season, Goodwin was confident the Demons were on track to rise up the ladder next season with its ball movement changes and new midfield mix, however Melbourne had doubts after the loss to Carlton in round 19 and the final-term capitulation against St Kilda the week after. It leaves a cloud over the futures of some of Melbourne's biggest stars, including 2021 Norm Smith Medallist Christian Petracca who has received interest from Hawthorn. Petracca has kept silent on his future and will now likely hold off on a call until season's end. Goodwin will likely embark on a holiday and will be courted by media organisations to play a broadcast role in finals. The Herald Sun understands Goodwin wants to continue coaching after an initial break. Melbourne's board will now have to decide what it wants to do with its coach ahead of the 2026 season. Premiership coaches Adam Simpson and John Longmire, Pies assistant Hayden Skipworth and Bulldogs assistant Brendon Lade would be the early leading candidates. Goodwin opens up: Healing, hope and lifting Dees' heavy cloud Jay Clark is a leading AFL reporter for News Corp and CODE Sports, based in Melbourne. For almost 20 years, he has helped set the football agenda with his breaking news, deep-dive feature writing and issues-based reporting. He is a trusted voice on the biggest stories in the AFL. AFL Sam Draper has a mysterious phone call, Lethal made some big calls and Nick Riewoldt hosted the footy Logies. Josh Barnes has the good word what you missed on TV. AFL The cracks are starting to appear at the Pies, and their marquee recruits are right at the centre of Craig McRae's concerns, which couldn't have come at a worse time as we near September.
The Australian
15 minutes ago
- The Australian
How much super you need to retire comfortably for your age
The Australian Business Network Building a big enough nest egg to retire comfortably is a key goal for millions of Australians, and today's young adults are much better placed than their parents to achieve it. An analysis of average super account balances, and the nest eggs required for a comfortable retirement, suggests Australians aged under 30 and earning median wages will have enough in superannuation to allow them to retire in comfort. 'Comfortable' is the key word, and its definition can vary widely, but broadly-accepted numbers come from the Association of Superannuation Funds of Australia's ASFA Retirement Standard, a benchmark study of retiree spending needs that has been produced quarterly for 21 years. ASFA has estimated that to retire comfortably on a mix of super and a part-age pension, a new retiree needs $595,000 as a single homeowner and $690,000 for a homeowner couple combined. This will deliver them annual incomes of $52,383 and $73,875, respectively, and cover living costs including private health insurance, a 'reasonable' car, fast telecommunications, regular leisure activities, domestic holidays annually and an international holiday every seven years. While the July 1 rise to 12 per cent compulsory employer superannuation guarantee contributions gives young workers a full career of solid super injections, older generations have not benefited from that and many have balances that struggle to reach a comfortable level. ASFA chief executive Mary Delahunty said for Australians aged between 60 and 64, men had an average super balance near $395,000 and women had $315,000. 'The median figures are lower, $220,000 for males and $163,000 for females,' she said. However, the trend is improving and the fact that many retirees live with a partner helps them combine their nest eggs to deliver a decent retirement. 'Most retirees aged 65 today are in a couple household,' Ms Delahunty said. 'Based on the combined super balance and other financial assets held, just over 30 per cent of retirees are at the comfortable standard, and that's up from 25 per cent a decade ago,' she said. 'By 2050 that percentage will increase to around 50 per cent for couples.' Super funds provide projections of members' final super balances on websites and in annual statements, and there are other online calculators that help people work out if their balance today is high enough. For example, ASFA's Super Detective tool has estimated that if you are aged 25 today and have $26,000 in super, you are on track to retire comfortably at the pension age of 67. If you're 30, the figure jumps to $66,500, and it gets dramatically larger after that. Today's 40-year-olds need a balance of $168,000, those aged 50 require $296,000 and someone who has just turned 60 needs $469,000, although all these calculations are based on a relatively modest wage of $65,000 a year. JBS Jenny Financial Strategists chief executive Jenny Brown said it was 'absolutely' important to know what super balance you would need and how you were placed towards reaching it. 'It's a matter of working out what we call your financial freedom number – how much do you need to retire?' she said. 'That's working out what you are spending and what lifestyle you want when you retire. 'And what age is retirement? Is it 60, 65 or 70, or as soon as you possibly can?' Ms Brown said people should check their super was performing as expected, and that they were not overpaying on fees. 'You have got to plan for the future,' she said. Tribeca Financial chief executive Ryan Watson agreed people should have an idea of what their final retirement super balance will be. 'This provides people with a financial goal with which to aim and can enable them to make adjustments if they look like they may end up with insufficient funds to provide for their retirement,' he said. Tips to grow your nest egg Mr Watson's top tips to help super savers build a big balance include: • Review your account now by checking fees, investment performance and insurance benefits, which can significantly impact your final balance. • Make extra contributions to super, such as salary sacrificing. • Seek strategic financial advice. • Take a more active interest in your superannuation. 'Knowledge is power, and will dramatically increase a final retirement superannuation balance,' he said. Super guarantee boost Mr Watson said the super guarantee's recent increase to 12 per cent would provide a significant improvement to the final retirement balance of young Australians. 'At 12 per cent, this equates to a 33 per cent increase from where SG superannuation has traditionally been at (9 per cent). As such, it is likely that more Australians in 20 to 30 years' time will be retiring a lot more comfortably.' ASFA recently calculated that the 12 per cent super guarantee meant a 30-year-old today earning a median wage of $75,000 until retiring at 67 should be able to accumulate $610,000 in super, more than the necessary $595,000, a figure which factors in average inflation. Ms Delahunty said this was a major milestone and showed the strength of the super system benefiting from the right level of regular contributions and strong investment returns compounding over time. 'It's showing that it is really delivering for people in retirement and delivering savings to the public purse as a result,' she said. 'You will see a government that can make different decisions about public services as they will not be spending as much on the pension, especially when you compare it to other OECD countries. 'You can actually sit in this country today and imagine life as a retiree that is the same standard that you have in your working life. That's what we should be able to do as a prosperous nation.' Ms Delahunty said Australians were engaging with their super more because they wanted to know how they were going to live in retirement. Super funds can help with projections, education and tools, she said. 'The other really good education tool that people have available to them is ASIC's Moneysmart website. ASIC does a really good job of simply explaining some of the concepts. 'It's a good idea to have an understanding of how that nest egg can grow.' Read related topics: Need to know Wealth Anthony Keane Personal finance writer Anthony Keane writes about personal finance for News Corp Australia mastheads, focusing on investment, superannuation, retirement, debt, saving and consumer advice. He has been a personal finance and business writer or editor for more than 20 years, and also received a Graduate Diploma in Financial Planning.
The Australian
15 minutes ago
- The Australian
2025 Nissan Ariya prices and details
Nissan has finally confirmed Australian details for its long-awaited Ariya electric car. Landing in showrooms six years after it was unveiled in concept form and more than three years after going on sale in Europe, the Ariya's debut was delayed by government red tape surrounding Australian Design Rules that require a unique 'top tether' anchor point for child seats. Nissan's Ariya electric car hits showrooms in September. Picture: Supplied Its arrival has been timed to help soften the blow of new emissions laws that punish popular – but thirsty – cars such as the Nissan Patrol. The brand's long-awaited alternative to the Tesla Model Y shapes up as a family-friendly SUV of a similar size to the Volkswagen ID. 4 and BYD Sealion 7. Set to arrive in September, the Ariya has sharp prices that undercut some rivals. Priced from $60,595 drive-away, the entry-level Nissan Ariya Engage undercuts the cheapest Tesla Model Y by about $3500. Nissan's 12.3-inch digital dash and 12.3-inch infotainment screen are great to have, as is the brand's 'ProPilot' suite of driver assistance features that can handle stop-start traffic jams. The Ariya has had a delayed introduction. Picture: Supplied But a closer look at the Nissan's spec sheet shows where the brand has cut corners. Equipped with a front-mounted motor as standard, basic front-wheel-drive versions of the car have 160kW of power and need 8.0 seconds to reach 100km/h, making them significantly slower than a rear-wheel-drive Tesla, which needs 5.9 seconds to reach the same mark. The Ariya's 385km claimed range also lags behind the Tesla's 466km. And the basic Ariya promises to be a cold place on winter mornings. Most electric cars have heated seats as standard – the cheapest Tesla Model Y has them in the front and rear – as EV cabins can take longer to warm up without a hot combustion engine under the bonnet. The electric Ariya follows in the wheel tracks of Nissan's Leaf. Picture: Supplied Nissan customers who want heated seats in the front and rear need to upgrade to the Ariya Advance + for $68,995 drive-away. The model also benefits from a larger battery with 504km of claimed range, plus a 10.8-inch head-up display, panoramic sunroof, ventilated front seats and a power sliding centre console. At the top of the range, the all-wheel-drive Nissan Ariya e-4orce adds a rear-mounted electric motor to effectively double its power output, resulting in a 0-100km/h time slashed to 5.6 seconds. It also has Nappa leather, 20-inch wheels and upgraded towing capacity to help justify an asking price of about $77,395 drive-away. The brand has not confirmed an Australian debut for the sportier Ariya Nismo model. Nissan sells Ariya Nismo models overseas. Photo: Supplied Nissan's key advantage over the likes of Tesla is a 10-year warranty that applies to models serviced throughout its considerable dealer network. Customers who service their cars externally get a five-year guarantee. The Nissan Ariya has been on sale in Europe since 2022. Warwick Daly, deputy director of marketing and mobility, Nissan Australia, said it is 'exciting to see Nissan's long history in the Australian electric vehicle space continue in the Ariya, which pairs incredible design, a clever and spacious interior, intelligent driving systems with advanced battery and motor technology to deliver a truly thrilling drive'. 'Understandably, a lot of people have been waiting for the Ariya to arrive in Australia, and I'm so excited that customers can now place orders,' he said. Under the skin of Nissan's Ariya electric car. Picture: Supplied The Ariya is a vital part of the strained Renault-Nissan-Mitsubishi alliance. It shares underpinnings with the Renault Megane E-Tech, as well as Renault's upcoming Alpine A390.
