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.
Economy
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.
Queenslanders ‘don’t want borders opened’
Queensland Premier Annastacia Palaszczuk has been blasted over her most recent views on the reopening of state borders for domestic travel.
Post-lockdown must have we’re all buying
As restrictions ease Australians have rediscovered the urge to splurge and one graph has revealed what is our must have post-lockdown indulgence.
NSW, Victoria ease more virus restrictions
NSW has announced cafes, pubs and more in the state will be closer to normal from July 1. Meanwhile, Victoria has eased restaurant restrictions.
Bank bloodbath as ASX plunges
Any hope of a quick recovery from the economic shock of the pandemic is dissipating as local stocks continue the sharp falls.
Surprising reason for Aussie dollar’s lift
The local currency has surged to an 11-month high aided by an underappreciated factor but the rise could be short lived.
Cold water poured on market’s $500b run
The Australian share market fell heavily today, providing a sobering and costly reality check for those investing in a sharp recovery.
The people worst off in a recession
The Australian recession will cause “a lot of pain” across the country, but economists say one group is at greatest risk of bankruptcy.
Huge push to extend JobKeeper
A leading global economic body has called on the Morrison Government to extend stimulus packages past the September expiration date.
Jacinda’s four-day work week plan
First it was extra public holidays, now the New Zealand Prime Minister is proposing a shorter work week to help recover from the COVID crisis.
Tax deadline that could cost you $850
A key tax date is just weeks away – and one expert has warned there’s a “real risk” it could end up costing you hundreds of dollars.
JobKeeper detail that allows early cut-offs
Finance Minister Mathias Cormann has refused to guarantee more workers won’t be kicked off JobKeeper as a Senate hearing turned fiery.
Boss takes blame for JobKeeper stuff-up
Australia’s Treasury Secretary has accepted responsibility for the JobKeeper bungle that saw the government over-estimate its cost by billions.
House price plunge ‘will hurt poor Aussies’
If property prices collapse as a result of the coronavirus-induced economic crisis, vulnerable Aussies will suffer – not wealthy landlords.
World on brink of ‘enormous shock’
Markets are surging to record highs, but experts have warned it is premature, with the world on the brink of its worst economic drop in decades.
Bank boss calls to extend $1500 payments
Australia’s Reserve Bank Governor has warned that ending the $1500 JobKeeper package too early would be a “mistake” for the economy.
Thousands rush for HomeBuilder grant
As criticism mounts over the rules for the new home cash splash, a huge number of Aussies have registered interest to receive the handout.
Grim sign in Australian shopping centres
Shops closed amid the pandemic but some may never reopen leading to fears the “dead mall” phenomenon seen in the US could be in store for Australia.
Big change to make Ikea cheaper
Many retailers won’t survive the economic shock from coronavirus but the furniture giant has cherished the time to expand a key division.
How to double $25k HomeBuilder handout
The government is handing out $25k to eligible homeowners – but you could more than double this depending on where you live.
All the restrictions that lift today
Restrictions will ease across the nation today but some things remain the same and could land you a fine. Here’s what you need to know.
New homebuyer grants available to all
The government will unveil grants for new homebuyers, which will reportedly be on offer for everybody – not just first-timers.
Another big retailer shuts up shop
The UK parent company of this clothing retailer has announced the closure of all its Australian stores due to the coronavirus downturn.
Aussie house prices on a cliff edge
Aussies have deferred billions in loans since the COVID-19 crisis began, now a deadline could lead to a “cliff edge” for the property market.
Reason Kmart stores still half empty
Supermarket shelves are full but it couldn’t be more different at discount department stores which are facing challenges to return to normal.
China prepares army for war
China has told its military to step up its preparedness for armed combat. It comes as relations with Australia and the US deteriorate.
PM’s new JobMaker plan to save economy
Australia has JobKeeper and JobSeeker to help workers through the coronavirus crisis, and now the PM is about to unveil his next plan – JobMaker.
Air NZ to reveal massive airline changes
As the global aviation industry continues to battle against the tourist fallout from COVID-19, one airline is set to make a significant change today.
PM’s grim warning: ‘Years of pain’
Aussies should brace for up to five years of pain as the economy gets “off the medication” of handouts, the PM will warn in a key speech.
How under-30s have screwed themselves
It was supposed to help struggling Australians get through the COVID-19 crisis – but this controversial policy could harm one particular group.
‘Ridiculous’: Qld cut out of travel bubble
In a radical plan to boost our tourism, Aussies living in NSW and Victoria could be allowed to ski in New Zealand before having a surf in Queensland.
Original URL: https://www.news.com.au/world/coronavirus/economy/page/6