Aus economy’s ‘unusual’ virus response
The Australian economic outlook is definitely “ugly” but how we’re dealing with the COVID recession is different to just about elsewhere due to one unique factor.
Economy
‘Next war’: Biggest losers in recession
We’re officially in the grip of the worst economic downturn since World War II. And one group will pay for the crisis for decades to come.
Huge tax cuts to be brought forward
An emergency plan to cope with the devastating recession is being hashed out and is likely to include immediate massive tax cuts for Aussies.
How much you will save from tax cuts
The vast majority of Aussies will save $1080 through the tax changes but this quickly climbs to $2565 depending on your income.
‘Diabolical’: Grim warning for Aussie jobs
Australians have been warned to expect a long road ahead before the economic disaster turns around, as spats over JobKeeper flare up.
‘Car crash’ Dan under fire over lockdown
Treasurer Josh Frydenberg has unleashed on Daniel Andrews for refusing to provide a road map out of lockdown, which is wreaking economic havoc.
Mum evicted in ‘heartless’ note
A struggling mother-of-two found out she had just one day to get her things packed when her property manager left a harsh eviction notice.
Hurdle that will stop cheap Aussie airfares
Those cheap flights to Bali and Hawaii may well and truly be on hold, but the forecast for discounted fares within Australia could also be a thing of the past.
Date Hawaii will open borders to Australia
New Zealand might be off the cards for the time being, but now this popular tourist destination has floated the idea of a travel bubble with Australia.
Three-year boon for Aussie homeowners
It will be happy days for Aussie homeowners for the next three years according to PM Scott Morrison – if you’re lucky enough to own one that is.
Restaurant’s tweet divides the internet
A floating restaurant has slammed a social media star, who contacted management asking for an “influencer’s rate” to dine on their boat.
Surprise three Qantas routes now booming
Qantas’ CEO says that despite state border closures causing havoc on Australia’s domestic sector, three flights are performing better than ever.
Warning over ‘bitter aftermath’ of virus
The COVID-19 pandemic came as a “savage” shock to many and Australia is now facing a “bitter aftermath” that will last years.
Odd millennial spending habit post-COVID
A survey has found a disturbing new trend among millennials – despite being hit hard by the pandemic, they won’t curb their lavish lifestyle in front of friends.
Victorian lockdown must be extended
Modelling shows where Victoria is headed and when Melbourne’s stage 4 coronavirus lockdown, already in place for two weeks, could be lifted.
‘Vile slurs’ about infected family spread
The family at the centre of New Zealand’s coronavirus cluster are struggling to cope with vile slurs spreading online about them.
Aussies told to ‘cancel Christmas plans’
Australians have been told to cancel interstate Christmas plans, as it becomes more and more likely borders could be closed for a long time.
Virus hotspot’s remarkable recovery
A few short months ago Italy was in the throes of a health crisis, but now life has largely returned to normal for its 60 million citizens.
PM doubts borders will open by Christmas
As borders around the country remain closed, Prime Minister Scott Morrison has dashed hopes restrictions will be lifted in time for Christmas.
Ad hints travel bubble could be years away
Just days after Prime Minister Jacinda Ardern knocked the NZ trans-Tasman travel bubble on the head, a new ad suggests how long we will have to wait.
Vital lifeline for Aussie workers
Plans to slash the JobKeeper payment from $1500 to $1200 could now be abandoned in the wake of the “Victorian wave” of coronavirus.
Shocking cost of Victoria’s new lockdown
The PM has revealed a shock new forecast for Australia’s economy as a result of Victoria’s lockdown that’s much higher than initially predicted.
‘Endangered’: Grim warning for airlines
Experts say that a change in the way airlines deal with business travellers will have a lasting impact on how much holiday-makers pay for a seat.
What Gladys must do to save NSW
It’s time to actually close the Victorian border and stop all flights from Melbourne, or impose strict quarantine, before it’s too late.
Keating says Boomers ‘want everything’
Paul Keating has lashed out at greedy Baby Boomers, saying they’d never put up with low wages and raiding their own super.
PM brings in $1500 disaster payment
The Prime Minister has announced a “disaster payment” for those who have been directed to isolate for 14 days by health officials.
Melbourne prices to fall 20 per cent
A day after Victoria entered stage 4 lockdown, the pain is beginning to be realised in the housing sector as nearly all cities record losses.
Kmart slammed: ‘Like it’s closing down’
Kmart said its stores would be “back to normal by July”. It’s now August and shelves are still empty and customers are increasingly frustrated.
‘Zombie’ businesses’ warning to PM
Hundreds of businesses are teetering on a knife edge with many warning the PM they may not survive once JobKeeper support is pulled.
McDonald’s $5.3 billion nightmare
The iconic fast food chain has revealed that profits plunged during the coronavirus pandemic, but its Australian division outperformed.
Why record gold price a ‘sign of trouble’
The Australian share market lifted on Tuesday thanks to the precious commodity but analysts warn its value is linked to dire forecasts.
From $44m disaster to $1b market leader
Just three years ago, this Aussie online retailer was haemorrhaging cash but today it reported an earnings surge of 500 per cent.
One factor driving Victoria’s second wave
Victorian Premier Dan Andrews has named one major culprit for the devastating second wave hitting Victoria — workplaces.
Answer to scary debt question
Australia’s economy is facing a meltdown and our only hope of avoiding calamity is doing the one thing we’ve been warned against for years.
50 NSW venues hit with COVID-19 cases
More than 50 venues across NSW have recorded COVID-19 cases, with the list of impacted businesses growing at an alarming rate.
Waitress breaks down over giant tip
A waitress who had been out of work for months because of virus shutdowns has been moved to tears by a customer’s generous tip.
HomeBuilder scheme sparks frenzy
The new home stimulus package has inspired a huge response but property experts question its effectiveness as virus cases soar.
Big clue on when air travel will resume
Treasurer Josh Frydenberg has dropped a big clue when international air travel could resume and our state borders will reopen.
1 in 10 Aussies unemployed by Christmas
The Morrison Government has predicted a shocking number of Aussies will be out of work this year while delivering a sobering forecast.
700,000 Aussies sacked over job catch
A new discussion paper has revealed the extraordinary number of workers who were not eligible for JobKeeper sacked by their employers.
Australia’s $850 billion debt bomb revealed
The Morrison Government was meant to unveil Australia’s long-awaited surplus this year. Instead Australia has recorded the biggest deficit in decades.
Priceline selling 50 masks for $249
As Melbourne’s deadline for mandatory face masks looms, demand has soared. One retailer has stock, but it comes with a big price tag.
New plan to create 76,000 jobs
The twin crises of the summer fires and the coronavirus-induced recession has created the need for a policy overhaul, a new report says.
Nation’s ‘eye-watering’ debt due to virus
Australia is about to discover just how much the coronavirus crisis has cost, with the Treasurer warning the debt and deficit level will be “eye-watering”.
Dole payments set to be slashed
The Prime Minister and Treasurer have revealed just how much they’ll cut dole payments by, confirming JobSeeker payments will be slashed under new changes.
The job nobody wants to apply for
A million people are out of work in Australia but there are still some jobs that surprisingly no-one wants to apply for. One boss is blaming JobSeeker.
Huge change coming to JobKeeper
JobKeeper is set to be extended. But before you breathe a sigh of relief, it will be worth less and it will be harder to claim the wage subsidy.
Vic outbreak’s huge cost to other states
Victoria’s outbreak is holding back the recovery in other states with plans for a travel bubble and the return of international students postponed.
‘Poor people’ issue Australia can’t ignore
A year ago, a strange thing happened in Australian politics and now, for the first time, the rich need the poor more than they need us.
Tiered payment to replace JobKeeper
Treasurer Josh Frydenberg has detailed an new support plan for those hardest hit by COVID-19 with a new “sliding scale” payment system.
Government flags more money for Aussies
Treasurer Josh Frydenberg has indicated there will be further income support for Australians as the Victorian lockdown hits the national economy.
Bank boss weighs in on virus strategy
The CBA boss has picked a side when it comes to the suppression versus elimination debate and said the Melbourne lockdown will impact recovery.
Cloth masks ‘best weapon’ against virus
Surgical face masks had been billed as the best way to stop coronavirus spread, but two new studies label cloth options our “best weapon”.
New wage lifeline to help 180,000 Aussies
The PM has announced an expanded wage subsidy scheme, revealing the first element of the “second phase” of recovery after JobKeeper is phased out.
VIC lockdown to deliver $5 billion hit
It’s only been a few days and already it looks like Melbourne’s lockdowns could cost at least $5bn with consumers closing their wallets, even outside Victoria.
Brisbane teens make $70k in lockdown
Two teens made $70,000 in a month at the height of Australia’s lockdown, more money than they had in the rest of their lives combined.
Customer loses it over mask request
A woman has been caught on camera reacting ridiculously in the middle of a shoe store after staff members asked her to wear a face mask.
Disney World reopens despite virus surge
Despite the US recording over 70,000 new coronavirus cases, Disney World has pushed on and opened numerous parks around Florida.
‘Ominous’ sign for Myer, DJs stores
A quiet move, unnoticed by customers, threatens to strip shelves at Myer and DJs, stoking concerns about the stores’ ongoing viability.
$5m splashed for struggling Aussies
The cost of the pandemic has been horrific for small businesses, forcing the Government to today launch a nationwide campaign.
JobKeeper support to be extended
As coronavirus spreads across Australia, the Prime Minister has flagged JobKeeper support for struggling businesses will be extended.
Banks offer lifeline to struggling Aussies
D-Day for the housing market was looming in September with the end of key support schemes but a new announcement may soften that blow.
Staggering cost of new lockdown rules
Victoria’s second lockdown could cost $1 billion a week, risking the nation’s economic recovery, according to Treasurer Josh Frydenberg.
Unpopular tax may be hiked
Economists say now is the time to plot for daring tax reform to help steer Australia out of its first recession in nearly three decades.
Confusion over border closure permits
NSW will close the border to Victoria within hours – but while there will be exemptions, the shock news has already sparked chaos.
‘Absolute madness’ in London
Pubs have reopened in England, with packed crowds of punters rushing to party after strict coronavirus restrictions were relaxed.
Victoria mess threatening Aussie economy
Victoria’s sharp rise in coronavirus cases over several weeks has but the entire Australian economic recovery at risk, a new report has warned.
Grim sign for Aussie house prices
An alarming study has revealed the “incredible stress” Australians are suffering through to try and afford rent and mortgage each week.
Who is eligible for $750 payment?
Five million Aussies are set to receive a bonus $750 payment in the coming weeks. So who is eligible for the hand out?
Aussies unwilling to return to work
Many have called for JobKeeper to be extended but a number of industries say there’s a lack of interest in the workforce.
Massive blow to businesses revealed
A huge amount of small Australian businesses have lost a whopping 75 per cent of their income due to the coronavirus crisis.
Aussie wages $32,000 worse off
A new report reveals a swift economic recovery will still land a significant financial blow to Australians and struggling to afford their first home.
‘Grim’ job graph shows industries at risk
A revealing new graph has shown the industries losing out, after Australia reported the biggest plunge in job vacancies in recorded history.
Joyce dishes on NZ travel bubble plan
Qantas boss Alan Joyce has given an update on the hyped trans-Tasman travel bubble as he announces major changes to rock the airline.
Tourist elephants starving, shot by owners
Large, exotic animals in captivity are starving to death in third world countries, as the COVID-19 pandemic ravages the tourism industry.
Hairdressers told not to chat to clients
Being quizzed on your weekend plans as you have your hair snipped could be a thing of the past in a post-coronavirus world.
The Aussies hit hardest by job losses
Australia’s unemployment figures for May were released today, painting a shocking picture for one generation hit by more than 300,000 job losses.
‘These are our dark times’: Jobless shock
Scott Morrison says “these are our dark times” as “heartbreaking” jobless figures show another 227,700 people lost their jobs in May thanks to coronavirus.
Decision costs Australia $84m a day
Australia’s disastrous unemployment crisis is being worsened by states and territories with indefinitely closed borders, costing 5000 jobs a week.
Church asks for JobKeeper payments
The Catholic Church has asked priests eligible for JobKeeper to donate the extra allowance back to the organisation.
Original URL: https://www.news.com.au/world/coronavirus/economy/page/5