Another big virus restriction relaxed
New South Wales will wind back another significant coronavirus ban next week, and it’s one that has a significant economic impact.
Economy
Global economy falls off a cliff
One in five Americans could soon be unemployed, while 19 Euro area economies shrunk as statistics show a glimpse of COVID-19 economic chaos.
Stores that ‘may never reopen’ after COVID
Expect major changes in your local shopping centre as the coronavirus pandemic inspires a “seismic shift” in our retail habits.
Woolworths reports massive sales jump
The major department store has reported a bumper quarter but its result has fallen short of arch rival Coles.
ANZ profit tumbles 62 per cent
The major lender has copped a $1 billion hit from the coronavirus pandemic and will not provide a payment to its shareholders.
States set to prosper post COVID-19
Australia’s finances are taking a thumping but some states’ economies may fare better than others – particularly if China can keep coronavirus under control.
Coles’ panic-buying huge sales boost
The supermarket giant recorded a strong jump in online business as consumers needed more cleaning products and relieved boredom through baking.
State to get rid of stamp duty
One state is reportedly considering dumping a costly homebuyers tax after the housing market was hit hard by the coronavirus pandemic.
‘Lost for words’: Note stuns cafe owner
A struggling Melbourne cafe owner received the shock of his life when he opened a letter that was slid under his door.
US moves to reopen within weeks
The US is poised to reopen its economy within weeks, despite the country being in a “grave situation” due to the coronavirus pandemic.
Why you can’t return to work yet
Scott Morrison has suggested it’s time to start talking about returning to the workplace, but for most of us that won’t happen any time soon.
Billionaire’s firm scores $6.4m stimulus
US rich-lister Trevor Milton is worth a staggering $1.7 billion – but that hasn’t stopped his company from being showered in stimulus money.
Treasurer’s forthright message to bosses
Treasurer Josh Frydenberg has issued a warning to employers planning to claim the Government’s JobKeeper payment.
Boss vs worker: Who’s in the right?
A war of words has erupted between an Adelaide boutique owner and her employee over the $1500 JobKeeper payment. So, who’s in the right?
Grim warning over ‘next pandemic’
The coronavirus crisis is wreaking havoc across the globe – and it has created the “perfect storm” for a looming financial pandemic.
Sign dark days ahead for Aussie shares
Australians have been warned against investing in the share market after many were fooled into thinking the pain was over.
Huge impact of toilet paper stockpiling
Australia has recorded an ‘unprecedented’ result on the back of panic-buying shoppers and incredible toilet paper sales.
‘Biggest contraction since 1930s’ looms
Reserve Bank of Australia Governor Philip Lowe has warned of “difficult days ahead” for the economy as the coronavirus crisis rages on.
Virgin’s tough move could make it stronger
Virgin Australia’s voluntary administration could turn out to be a good thing, with history showing other companies came out stronger.
Tax cuts to help with COVID-19 recovery
Tax cuts may be part of measures brought in by the Federal Government to help the economy recover from the impact of the pandemic.
Oil crashes below zero to $-37.63
Oil futures have plunged below zero for the first time as demand for energy collapses amid the coronavirus pandemic.
‘How can you say that?’: Expert savaged
An economist has been criticised for saying Australia shouldn’t have gone into lockdown as part of the fight against coronavirus.
Most worrying sign yet for global disaster
China has experienced it’s worst economic contraction in decades as a result of COVID-19 – and it’s grim news for the rest of the world.
Australia’s chance at eliminating virus
Australia may succeed in eliminating the coronavirus despite not following New Zealand’s approach of a full lockdown.
Why Australia can afford huge stimulus
Suddenly the Government has been spending up a storm, dropping billions in virus stimulus packages – but where is this money really coming from?
‘Disgraceful’ bosses rip off workers
Dodgy employers trying to rip off workers eligible for JobKeeper have been warned by the Prime Minister that they won’t get away with it.
Aussie share market plunges
Australian stocks have been battered once again in a sign these depths of the pandemic-induced falls are yet to be reached.
Genius companies thriving in lockdown
A massive horde of Australians have been forced out of work but a number of businesses are flourishing after repositioning their offerings.
What we’re spending up big on now
We’re tiring of hoarding rice and pasta, even alcohol sales are less than this time last year. But while no one wants new clothes, there’s one area we’re spending big on.
‘Second wave’ Australia should really fear
One in 5 Aussies has already lost their income and the second round of economic contagion is coming – and it’s going to be “ugly”.
Jacinda Ardern takes 20 per cent pay cut
New Zealand PM Jacinda Ardern and her entire ministry will take a 20 per cent pay cut as coronavirus plays havoc with the global economy.
‘Worst recession since Great Depression’
“Great Lockdown”: The economic blow caused by the coronavirus will be “far worse” than the GFC according to a dire outlook from the International Monetary Fund.
‘Heartbreaking’ carnage of Aussie jobs
Australia has been hit with grim jobless figures but the picture would be much worse without the government’s $130 billion intervention.
Desperate Aussies’ $200,000 mistake
A huge number of Australians have applied to withdraw money from their retirement funds, raising fears it could impact on everyone’s nest egg.
Virus exposes Australia’s reliance on world
A new push for self-reliance is underway after shortages of medical and other supplies left the country scrambling in the midst of the coronavirus pandemic.
No evictions for six months
NSW tenants struggling as a result of the coronavirus pandemic will be better protected under a new $440 million rescue package.
Hard virus choice Australia has to make
America has no option but to fight the virus. Our success puts us in a different position. We get to make choices, but those choices are hard.
Problem with controversial virus plan
Australia faces a tough decision about how to end the coronavirus epidemic and one “offensive” option is raising concerns.
COVID’s ‘second round’ impact on Aussies
Australia is putting billions into its coronavirus response but one expert has warned of a “second-round” impact that could cost it even more.
‘Once in a century’ deep recession
A grim forecast reveals the Australian economy still has months of pain ahead of it but there is a bright spot among the “pessimism”.
Why Australia is printing money
Hundreds of billions has been spent to help the economy and interest rates have tumbled. But the central bank has also splashed on another plan.
When $1500 payments will kick-off
The government’s $130 billion wage subsidy scheme has been approved and it could spell massive changes to your normal role.
Huge detail you missed in $1500 payment
A key feature of the government’s JobKeeper wage subsidy has been widely overlooked – and it could be good news for scores of Aussies.
Australia’s grim ‘new reality’
The local economy has been dealt yet another bad “omen” as the government scrambles to keep ahead of the coronavirus crisis.
How do I apply for free childcare?
With many families stressed about coronavirus, still going to work and looking after their children, free childcare is a welcome relief, but how do you apply?
$130b wages package to pass today
Wage subsidies designed to save six million jobs will be approved by federal parliament when a reduced number of politicians meet in Canberra.
Australia forced into ‘brutal’ decision
Now that Australia appears to have got the coronavirus under control, it faces an even more disturbing choice on how to end the epidemic.
‘Eliminating’ virus too high a cost
Scott Morrison has made clear his view that any attempt to eliminate COVID-19 entirely in Australia would carry too high an economic cost.
‘What happens if I can’t pay my rent?’
You’ve lost income because of the coronavirus crisis and finding it hard to pay the bills. What if you can’t pay your rent in Australia?
1.1m Aussies screwed out of $1500 payment
Casual workers have received a fresh blow after it was confirmed those in the job for less than a year would miss out on the subsidy.
‘Pandemic leave’ saving Aussie jobs
Australian workers are set to score special unpaid pandemic leave as a result of the coronavirus crisis – and it could save your job.
$5k virus tax loophole you should know
The deadly coronavirus pandemic is devastating the Australian economy – but it could end up saving you thousands in income tax.
New rules for ‘dark kitchens’
The coronavirus crisis has devastated many businesses – but new rules announced today are helping NSW restaurants stay afloat.
China’s millions of masks amid shortage
A China-based global firm is aggressively marketing a stockpile of millions of face masks back to Australia as our health system suffers a national shortage.
Qantas wants billions if Virgin gets bailout
Qantas has demanded a multi-billion dollar bailout if competitor Virgin receives financial support from the Government amid the coronavirus crisis.
Classic Aussie response to virus crisis
Forget loo rolls – new research has revealed exactly what Australians are buying during the pandemic, and it won’t surprise anyone.
Who misses out on ScoMo’s $1500
It has been praised as “country-changing” – but there are plenty of big losers in Scott Morrison’s unprecedented JobKeeper package.
New jobs on offer amid virus shutdown
As job losses rise and welfare queues lengthen due to coronavirus business shutdowns, these are the thousands of jobs still on offer.
Original URL: https://www.news.com.au/world/coronavirus/economy/page/11