JobKeeper support to be extended
As coronavirus spreads across Australia, the Prime Minister has flagged JobKeeper support for struggling businesses will be extended.
Economy
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.
Reason behind $60 billion stuff up
It was meant to be the program that helped Australia through the pandemic, but has led to a $60 billion stuff up. Here’s what doesn’t add up.
Tax letter you won’t get this year
It’s been a tax time staple we’ve all come to expect but countless Aussie workers won’t see this document ever again as it slowly dies out.
Loophole to be paid more for doing less
The government’s plan to help Australians without work in the pandemic has a big loophole that means you can get more cash for doing less.
Coronavirus infections rise sharply
The coronavirus outbreak in Brazil is accelerating, with the country now reporting the second highest number of global cases.
‘Doesn’t make sense’: PM’s plan slammed
A leaked report advises Australia to pin its hopes on one industry to drive growth after the COVID-19 outbreak but experts say “it doesn’t make sense”.
Staggering number can’t support families
The unemployment rate wasn’t as high as many feared but a new study reveals the true cost for Australian households.
Treasurer admits massive JobKeeper error
Treasurer Josh Frydenberg has admitted to a “reporting error” in the $1500 JobKeeper program, halving the number of employees covered by the payments.
China’s ‘extraordinary’ $430b stimulus
China will issue $430 billion in stimulus payments for businesses and households while also abandoning its economic growth target for the first time.
Public transport nightmare looming
New modelling shows hundreds of thousands of Australians are likely to find the imminent return to their workplaces almost impossible.
Graph shows Aussie sectors ‘bleeding out’
Everyone knew April sales would be bad – but no one was prepared for a bloodbath of this magnitude, and the havoc that will follow.
China’s fresh ‘warning’ to Australia
China has ramped up its attack on Australia, sending “another implicit warning to Australia” that could hurt a $63-billion-a-year market.
South Korea’s extreme travel ‘corridor’
As Australia and New Zealand work on creating a “travel bubble”, China and South Korea have already started their own tightly controlled “corridor”.
Virus causing ‘human development crisis’
A startling new report warns the consequences of coronavirus will be felt for years, with a measure of human wellbeing at its worst level ever.
Plan for $50k handout to homebuyers
A generous payment to spur house hunters has been proposed but experts say it may do more harm than good.
Childcare disaster Australia can’t afford
Come June 28, Australia’s “free” childcare arrangement will cease to exist. The result will be “catastrophic” for parents and providers.
Call for answers over China ‘hit list’
Australia’s Trade Minister wants answers from China over reports authorities are preparing a “hit list” of exports to punish Aussie farmers.
How holidays have to drastically change
NSW Premier Gladys Berejiklian has confirmed the state will be open for business from June 1, but taking a holiday comes with a warning.
France told to sell Mona Lisa for $83bn
One of France’s top businessmen has proposed to sell one of the most valuable paintings in the world to help save the country’s economy.
COVID trend impacting young Aussies
Australia’s coronavirus crisis has led to job losses and massive societal shifts, but it’s also sparked an unexpected trend.
Restaurants’ sneaky new charge
A customer went viral after exposing a venue’s “COVID-19 surcharge” recently – but an expert says it’s about to get much more common.
Grim forecast for economic recovery
The IMF initially expected the world’s economy would bounce back quickly next year but it now fears a deeper recession will weigh on growth.
Centres respond to free childcare snap back
As the government prepare to pull back the free childcare package, centres have pleaded with officials for a transition period.
Chinese buyers return to Aussie markets
Foreign investors are back in the property market and it could be bad news for those trying to get on the property ladder. But experts disagree about the impact.
Hidden risk in Australia’s China attack
Australia has taken a risk in its criticism of China – but there’s a hidden threat with far greater consequences than a beef or barley boycott.
China’s Aussie snub: Ignoring phone calls
China appears to be ignoring phone calls from Australia’s Trade Minister Simon Birmingham as fears of a trade war grow.
State sends everyone back to work
Western Australia is back to work tomorrow, with everyone encouraged to return to their offices. It will be a test case for the rest of Australia.
State’s bold move on reopening pubs
After being criticised for lagging behind other states’ relaxing of rules, Victoria is about to kickstart an ambitious plan to reopen pubs, cafes and restaurants.
Truth behind confusing 1 per cent detail
Australia’s “devastating” jobs figures have just been revealed – but one baffling number managed to hide the true extent of the carnage.
Anti-lockdown protesters abuse journalist
The crowd descended into chants about fake news after they spotted a journalist in their midst.
Virgin down to $100m as buyers circle
Even as bidding gets serious for Virgin Australia with backing from some famous names, the airline could exhaust its current cash reserves in just weeks.
Original URL: https://www.news.com.au/world/coronavirus/economy/page/7