Google announces Maile Carnegie as Australia head: Midday roundup

Internet giant Google has announced the former managing director of Procter and Gamble’s Australian division, Maile Carnegie, as the region’s new country director, following Nick Leeder’s resignation last year.

Carnegie spent three years in her most recent role at P&G, and 20 years across P&G in various regions including the United States and Singapore.

She was also the general manager for Asia strategy, marketing and design. She also sits on the advisory board of the University of Technology, Sydney.

Leeder is now Google’s country director in France.

Virgin Australia issue profit downgrade warning

Virgin Australia shares fell 6.52% late this morning, as the airline warned its earnings will be lower this financial year.

The company’s revenue took a hit from a major overhaul of its reservations system and difficult market conditions.

The airline originally predicted a better performance than last year when it recorded $82.5 million in profits before tax.

This is now unlikely, although Virgin was unable to provide any specific figures.

Shares steady on open

Australian shares have been reasonably flat this morning, opening 0.3% higher as the Australian dollar remained below parity, but dropping 11.8 points below last night’s close by late this morning.

The S&P/ASX200 was down 11.8 points to 5179.9 at 11.50am.

While the majority of industries were down, consumer staples had gained 142.1 points to 10,406.6.

Australian dollar opens lower

The Australian dollar was trading below $0.99 United States cents this morning, as the dollar continues to fall following last week’s Reserve Bank decision to lower interest rates by 0.25% and Tuesday night’s budget.

At 7.25am this morning the dollar was trading at 98.93 US cents, up marginally from Tuesday’s close of 98.88 US cents.