Shopping centre giants Scentre Group and Vicinity Centres have stripped more than $5.5bn from the value of their 102 properties amid the coronavirus crisis and Victoria’s crippling stage four restrictions.
Myer has secured an 18-month extension to a key lending facility and lenders have agreed to not apply the usual covenant testing to its accounts for the past financial year.
Treasury forecasts Victoria’s Lockdown 3.0 will on its own drag Australia’s economy deeper into recession through the September quarter, writes Terry McCrann.
The little matter of some $6.8bn of debt that gets ‘vanished’ is a rather important item that was missing from the outline of the fantastic Virgin 2.0 and its glorious future that will emerge from the ashes of Virgin 1.0, writes Terry McCrann.
The owner of Jim’s Mowing has lashed out at Premier Daniel Andrews after being forced to tell his employees and franchisees they must stop work under stage four restrictions.
The Reserve Bank is providing the foundation of stability that is so crucial at this time of plague, economic devastation and just general fear and uncertainty, writes Terry McCrann.
Australia will get a positive GDP growth number for the September quarter, but the size is dependent on NSW not heading down Victoria’s path of recession, writes Terry McCrann.
Aussie bag maker Crumpler is the new owner of Tigerlily. Here is what its chief says went wrong with the famous swimwear brand.
Dan Andrews’ ban on hydroxychloroquine is nonsensical and reeks of anti-Trump behaviour, writes Terry McCrann.
Most economists in their mindlessness see negative inflation – falling prices – as a bad thing. But the last thing jobless workers and battered businesses need right now are price rises, writes Terry McCrann.
The past week has brought new federal and state government support for small business. What do the experts think about what is on offer, and what else needs to happen to help small businesses recover from the coronavirus crisis?
Victoria’s handling of the coronavirus pandemic is bordering on criminally negligent and the economic impact has started flowing across the border into the other states, writes Terry McCrann.
RBA governor Philip Lowe is providing a foundation of stability in this time of plague, volatility and monumental, confusing and continually changing uncertainty, writes Terry McCrann.
They are the “good” deficits we had to have, and if we can get the economy — and our lives generally — back to some sort of normality, they’ll be much smaller in the years to come, writes Terry McCrann.
Victoria has now the pivot for what happens with the virus, meaning the key to what happens with the national economy and all states and federal budgets depends on our state, writes Terry McCrann.
The world economy isn’t heading back to the depths of recession. But what happens on Wall Street and in Washington has as much bearing on Australia as any second virus wave outside of Victoria, writes Terry McCrann.
Fact is, every generation must play the financial hand they’re dealt, and as a result of coronavirus one generation just got handed the Joker. But there are ways they can still fight their way up the money ladder, writes Barefoot Investor.
Seafolly went into voluntary administration in June, but investors have been lining up to buy the iconic swimwear brand. This is where the sale is at.
Melbourne’s six-week lockdown will deliver the state economy a devastating blow not seen since the Pyramid Building Society collapse in 1990.
One in ten Australians will be out of work by Christmas, with the federal government’s budget update also revealing the nation’s credit card bill is now worth more than $30,000 for every man, woman and child.
Original URL: https://www.adelaidenow.com.au/business/victoria-business/page/77