- Analysis
- Coronavirus pandemic
Tax reform heads RBA's wish list
The best way for the nation to recover from this once-in-a-century economic crisis according to Philip Lowe, is for governments to embrace the Henry tax review and adopt overdue reforms to underwrite a business-led revival.
Third death in aged care cluster
A 92-year-old woman has died from a coronavirus after a cluster broke out at a Sydney aged care home. Follow our live coronavirus blog here.
RBA sees biggest contraction since 1930s
The Reserve Bank is insisting that major reforms to tax and industrial relations need to be delivered soon by governments in a 'Team Australia" style cooperation effort to help the economy recover from the one-in-a-century COVID-19 economic shock.
Battle for Virgin heats up as administrators called in
Deloitte took control of Virgin as the carrier entered voluntary administration, and announced there was interest in helping the airline despite its troubles.
- Analysis
- Media & marketing
Morrison schools Turnbull on media mogul politics for dummies
Why has Scott Morrison played the media proprietors so much better than Malcolm Turnbull did?
Turning point reached in virus battle: PM
The ban on elective surgery will start to be lifted next week as Scott Morrison declared Australia had reached a turning point in the fight against the coronavirus.
- Opinion
- Coronavirus pandemic
Why Australians must take up the contact app challenge
The new app to track and trace a deadly virus is designed for privacy. It will help ensure a safe future for everyone, writes managing partner at Gilbert+Tobin, Danny Gilbert.
How the coronavirus is changing markets, business and politics.
Coronavirus: Need to know. Our daily reporting, in your inbox.
Sign up now
coronavirus pandemic
Fix found for iPhone owners to use virus tracing app
The government believes its coronavirus app will avoid the pitfalls of an Apple iPhone design feature that has hampered take up overseas.
Loss of 'reserve' leaves older carriers in more danger
People infected with COVID-19 who have diabetes, cardiac disease or chronic respiratory disease are more likely to land up in hospital and are at greater risk of death, new data shows.
Stop caveman style regulation: NSW
NSW is looking to automate business regulation and to reduce the compliance time for firms to cope better in the post-COVID world.
Branson says Virgin Australia not finished
Virgin Group founder Richard Branson says it is "not the end for Virgin Australia", but a new beginning.
- Analysis
- Coronavirus pandemic
Why Scott Morrison called Virgin's bluff
The government's line in the sand refusing a Virgin Australia bailout sends a message to other big businesses not to come begging for taxpayer money.
Companies
- Opinion
- Aviation
A simpler Virgin can be a phoenix from loss-making ashes
Virgin was a victim of a costly plan for business class victory. But a rebounding air travel market later this year could create the new lift it needs.
Qld says it will do more to help Virgin out of administration
The Palaszczuk government says it wants to talk to administrators as soon as possible to help save the airline.
Banks are strong enough to pay dividends: RBA
Reserve Bank governor Philip Lowe greenlit banks to pay some level of interim dividends in the coming weeks, declaring their capital levels to be strong and the payments important to bolster the income of some Australians.
Oil price body blow around the corner
An unprecedented drop in the US oil price to -$US40 a barrel has sent shock waves through the Australian oil and gas sector, as fears grow that Brent prices will follow.
Virgin Mark II 'needs to compete heavily' to survive
Rebounding from COVID-19 will be harder for Virgin than recovering from 9/11 if the airline survives administration, says Canberra Airport's CEO Stephen Byron.
- Updated
- Coronavirus pandemic
Virgin falls into voluntary administration
Virgin administrator Vaughan Strawbridge says he's not planning any redundancies for the 10,000 Virgin Australia staff and more than 10 parties are interested buyers.
Virgin's Velocity loyalty points frozen
Virgin’s frequent flyer program has temporarily frozen members from redeeming points, even as administrators for the airline say the points have not been lost.
Markets
$A has saved the economy more than once, says Lowe
The Australian dollar is potentially more important to the economy than the central bank, says Philip Lowe, who will reduce bond auctions to three days a week.
ASX falls 2.5pc for second day in a row
Investors remain cautious about the economic backdrop and the potential implications for companies as Virgin Australia enters voluntary administration
- Analysis
- Home loans
Solving the mortgage debt crisis no one is talking about
The non-bank lending sector relies on the bond market to lend money to households. But those markets are not designed to extend payment holidays.
- Analysis
- Oil
Negative oil prices? Not so crazy after all
The swift collapse in US oil prices to minus $US40 a barrel has grabbed global attention, but there's more to the story.
RBA sees biggest hit since 1930s ahead. How the day unfolded
The local sharemarket has closed trading lower; Virgin Australia has entered voluntary administration; RBA governor Lowe says unemployment likely to remain above 6 per cent.
Opinion
Big tech to pay for news
The global tech platforms have undercut the value of news-gathering professional journalism that helps to sustain a well-informed and lively democracy.
Editorial
Virgin left sitting on the tarmac
The airline was out of time and just about out of money last weekend. The government's refusal for more money to give it more time left only immediate voluntary administration.
Columnist
Why Australians must take up the contact app challenge
The new app to track and trace a deadly virus is designed for privacy at the outset. It will help ensure a safe future for everyone, writes managing partner at Gilbert+Tobin and director of the Business Council of Australia, Danny Gilbert.
Managing partner of Gilbert and Tobin
Australia’s success implies we've over-stimulated
The government's fiscal stimulus may have been calibrated for a situation that is much worse than the one we face, writes Christopher Joye.
Columnist
Wrong, Ms McManus: business is putting it on the line for their staff
The ACTU boss knows more about ideology than practicality. Otherwise she would not attack people battling to hold companies together.
Contributor
Offered free oil, traders say no tanks
Too much oil and not enough storage has crunched US prices, with exchange-traded funds adding to the misery as they are forced to sell low and buy high.
Senior Writer
Politics
Stop caveman style regulation: NSW
NSW is looking to automate business regulation and to reduce the compliance time for firms to cope better in the post-COVID world.
RBA yield curve control to stay in play to 2023: Goldman Sachs
The RBA's yield curve control has seen a material reduction in funding costs and Goldman Sachs expects the policy to remain for the next three years.
Proxy advisers split over Rio's Scope 3 resolution
A proxy advisor says it would be nearly impossible for Rio Tinto to reduce customers' emissions, but another says Rio must fix government inaction on climate
Wages down 6.7pc in three weeks: ABS
The accommodation and food sector was the worst hit with a 30.1 per cent drop in total wages paid and a 25.6 per cent drop in jobs in three weeks as the coronavirus shutdown bites.
Relations with Beijing cool after probe call
China wants to Canberra to meet it "halfway" but the rhetoric from state media indicates relations are heading back into the deep freeze.
World
Indonesia bans annual pilgrimage to stop virus spread
President Joko Widodo has banned Indonesians from returning to their home villages to celebrate the end of Ramadan.
'I count myself very lucky to have tested positive in Singapore"
The city-state has reported a record numbers of new cases this week but its death rate remains extremely low.
Seoul sees no suspicious activity in North amid Kim concerns
The South Korean government said no unusual activity had been detected in North Korea after unconfirmed reports described leader Kim Jong-un as in fragile condition after heart surgery.
Trump says he'll 'suspend immigration'
The US President he would sign an executive order 'to temporarily suspend immigration into the United States' because of the coronavirus.
Deal extends Netanyahu's rule as Gantz accepts unity government
After three inconclusive elections in the past year, the creation of the new government forestalls what had appeared to be an inevitable fourth election.
Property
Shopping malls face falling rents and asset values
Already short-term income has been hit for both shopping mall landlords such as Scentre and Vicinity and smaller, private suburban retail strip owners as tenants close their shops.
G8 asks childcare centres for half rent
The childcare giant is also receiving massive government support packages.
'Not essential': Solomon Lew's stores stay shut
In an escalation of its long-running fight with landlords, Premier says it will not pay any rent globally for the duration of the shutdown.
- Exclusive
- Retail
Discount pharmacies seek rent relief despite virus boost
Australia's biggest pharmacy chains Chemist Warehouse and Priceline have stunned their landlords by proposing massive rent reductions despite being one of the few retail groups to trade strongly during the pandemic, in part due to panic-buying of medicines.
Mirvac eyes its next tower in Brisbane's Newstead
Developer gives little detail about when it plans to build its next 25-storey apartment tower. That may be wise right now.
Wealth
- Opinion
- Sharemarket
What to consider before snapping up bargain stocks
This steep drop in sharemarket prices will prove enticing to many, but before taking the plunge investors should weigh up options and be prepared to lose money.
- Opinion
- Sharemarket
Time not timing more important than ever
To ensure that investors can keep on track for the retirement that many of them have imagined, it is critical to stay invested through the highs and lows.
Everyone is going to have power bill shock this winter
With so many people working and studying at home because of the coronavirus lockdown, a big spike in energy consumption is inevitable.
Technology
Nearmap surges as investors embrace cost cuts
The aerial imaging company's staff will take a 20 per cent pay cut and executives, a 25 per cent hit, in a bid to cut costs by 30 per cent.
Facebook removes anti-quarantine events
Facebook says it has removed events in some US states promoting protests against stay-at-home measures amid the COVID-19 pandemic.
No reason to abandon Zoom over security, says CIO
Harry Moseley says the company has always valued security and privacy and its 'new' policies are just a re-write of the current ones.
Work & Careers
Virgin job assurances offer 'glimmer of hope'
Administrators have said there are no plans for job cuts at Virgin Australia, leading some union officials to hope "this is not the end" for the struggling airline.
UberEats drivers not employees in landmark ruling
UberEats drivers' freedom to log in and off to the app was a crucial part of the precedent ruling that found they were not employees.
Life & Luxury
How the pandemic will change the future of interior design
As we all spend more time in our own homes, three interior designers sound off on how isolation will change their profession.
Australia's first burgundy grand cru makes its debut
Winemaker Brian Franklin has collaborated with Burgundy vigneron Philippe Charlopin on a stunning grand cru that's perfect to drink in isolation.
Could sound therapy be medicine to your ears?
While research into this practice is still emerging, some say it provides a sense of calm in the midst of panic.
Why COVID-19 will change the way you think about work
InMoment's David Blakers says the work-from-home model that's been adopted on a massive scale will help ensure the world is better prepared in future.
Need a break from virus news?
We've been collecting tips on what to read, watch and do At Home; advice on how to Work in the Shutdown; all the best Tech for the Shutdown, and if you want to see how corporate leaders are spending their working isolation, check out CEOs at home.
