News
Almost two-thirds of medium-sized companies are concerned economic activity faces a significant decline, resulting in even higher unemployment, when the federal government unwinds its COVID-19 stimulus measures.
News
A grace period designed to save businesses from going under during the coronavirus pandemic is being extended until the end of the year.
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The Australian economy contracted by 7.0 per cent in the June quarter, confirming the nation is in its first recession since the early 1990s following the biggest quarterly GDP fall in 61 years – but SA bucked the national trend with a lower rate.
Melbourne’s stage four lockdown, which mandated the wearing of face masks, strict controls on movement and an 8pm-5am curfew, is unlikely to end in two weeks as originally forecast, says the state’s chief public health officer.
Westfield shopping centres operator Scentre has reported a massive bottom line half-year loss, after writing down the value of its 42 properties in the wake of the coronavirus pandemic.
Reserve Bank governor Philip Lowe expects economic growth to contract by seven per cent when the June quarter figures are released.
Lockdowns, unemployment and uncertainty mean Australia’s economic pain is likely to continue for years, writes Peter Martin.
