Shares rise despite Budget blowout

                                        Australian shares end higher on Thursday despite confirmation from government the federal Budget was in its worst shape since World War II.

                                        Gas giant prepares for $1b hit

                                        Major gas producer Santos says its revenue has dipped due to lower gas prices induced by the coronavirus pandemic.

                                        Pandemic costs Coca-Cola millions

                                        Coca-Cola Amatil says the coronavirus pandemic has wiped millions of dollars from the company’s value, as lockdowns hit sales.

                                        Virus stifles business confidence

                                        A National Australia Bank survey shows business conditions and confidence have crumbled as a result of the coronavirus pandemic.

                                        Donut King owners’ virus scare

                                        The franchise owners of Donut King and Gloria Jeans have closed a Melbourne facility after three workers tested positive for coronavirus.

                                        $A to rise with improved Chinese economy

                                        Westpac’s chief economist Bill Evans outlines why he believes the Australian dollar will continue to rise for the remainder of the year.

                                        Big sign economy is bouncing back

                                        Latest retail figures show more Australians are shopping, prompting signs the economy is beginning to recover from the COVID-19 shutdown.

                                        JobKeeper boosts market confidence

                                        Australian shares have rallied after the Morrison Government announced it would extend its wage subsidy scheme.

                                        Worst economic crisis since 1930s: RBA

                                        The Reserve Bank has flagged Australia is on the path to recovery but has experienced an economic downturn not seen since the Great Depression.

                                        Aussies told to brace for more job losses

                                        The unemployment rate is set to boom as more Australians who lost jobs during the coronavirus pandemic return to the labour market.

                                        BHP hits targets despite virus downturn

                                        Mining group BHP says it has met its production targets for the financial year despite demand falling due to the coronavirus pandemic.

                                        Broncos win on a different field

                                        The Brisbane Broncos finally have something to celebrate, even if it’s not on the field.

                                        Iconic hamper company misled customers

                                        Chrisco has admitted it misled consumers about its lay-by hamper deals, forcing them to keep coughing up after the product had been paid for.

                                        Charges over Dreamworld tragedy

                                        Ardent Leisure has been charged over the Thunder River Rapids ride tragedy that killed four people in 2016.

                                        Woolies shuts distribution sites

                                        Potential stock shortages loom at Woolworths’ Victorian stores after its two Melbourne distribution sites were forced to shut due to an outbreak.

                                        Australians drain super accounts

                                        Australians are continuing to dip into their retirement savings at growing rates due to ongoing fears over the coronavirus pandemic.

                                        Virus’ staggering effect on business

                                        Economists are warning 10 per cent of Australian businesses could close if JobKeeper and loan deferrals are not extended past September.

                                        Bank tackles ‘hidden epidemic’

                                        Commonwealth Bank has launched a new assistance program to help stop financial abuse caused by domestic violence.

                                        Shares tumble as jobless rate worsens

                                        Australian stocks closed lower on Thursday as unemployment rates reached highs not seen since 1998. Here’s how the shares fared.

                                        Medibank slapped with $5m fine

                                        Major health insurer Medibank Private has been slapped with a multimillion-dollar fine for misleading customers.

                                        Jobless rate highest in 22 years

                                        The number of Australians out of work has risen as fresh lockdown fears delay the nation’s economic recovery.

                                        Travel company seeks cash boost

                                        Helloworld has gone to the sharemarket to raise more funds as the global tourism industry tanks amid the coronavirus pandemic.

                                        Sharemarket rallies despite virus fears

                                        The Australian sharemarket made strong gains on Wednesday despite fears the economy could be heading for a second shutdown.

                                        Lockdown fear haunts consumers

                                        Consumer confidence has fallen, according to Westpac, as the economy faces a second lockdown due to COVID-19.

                                        Bosses ripping off workers face jail

                                        The Queensland government has made wage theft illegal, following findings a quarter of the state’s workers are being unpaid or underpaid, or missing out on super.

                                        Afterpay ups expansion plan

                                        Australian technology company Afterpay is upping the ante in the US, with plans to offer its buy-now-pay-later service through Google and Apple.

                                        Shares dip, economists point to long road ahead

                                        The Australian sharemarket has slid as business confidence remains broadly negative. There’s a long road to recovery ahead, according to the experts.

                                        350,000 Aussies double dip into super

                                        Superfunds are being hit by a second wave of early super requests, as more Australians claim financial hardship.

                                        Qantas hits back against flight attendants

                                        Australia’s major airline Qantas has hit back against claims from staff that its aircraft are not prepared for the coronavirus pandemic.

                                        Westpac appoints new CFO

                                        Westpac has appointed a new chief financial officer concluding a six month job search which was sparked by its AUSTRAC scandal.

                                        Virus’ scary effect on consumers

                                        Consumer confidence has slipped as fears of a second lockdown do further damage to the economy.

                                        Bank partners with global tech firm

                                        A major Australian bank has partnered with a leading technology company to build its new software.

                                        Shares rally despite fears of second wave

                                        Australian stocks have finished the day higher despite fears of a second virus lockdown in Sydney crippling the Australian economy.

                                        Shaw: McKenna sledge unacceptable

                                        North Melbourne coach Rhyce Shaw is demanding high standards of behaviour and defender Luke McDonald apologise for an “unacceptable” coronavirus taunt on Saturday night.

                                        Bank’s lucrative offer to first home buyers

                                        An Aussie bank has dramatically dropped the amount first home buyers need to save for a home, helping them buy a property faster.

                                        Two NRL players put in COVID limbo

                                        Bulldogs centre Jake Averillo has unwittingly been caught up in a coronavirus cluster, while rising Eels star Stefano Utoikamanu will sit out training until he receives COVID-19 clearance.

                                        Oil Search suffers $575m hit from COVID-19

                                        A top Australian resource company has flagged a $A575m ($US400m) hit due to the economic downturn fuelled by COVID-19.

                                        Brisbane flying high with new airport runway

                                        Brisbane Airport’s new runway is now open, ending the need for holding patterns and lengthy wait-times on the tarmac for departure.

                                        Woolies fined for plying people with booze

                                        Woolworths-owned gaming operators have been hit with a massive fine after shouting known gamblers in a breach of gaming laws.

                                        ASX to extend capital raising relief measures

                                        The ASX will extend its COVID-19 capital raising relief measures as ongoing uncertainty clouds global economic recovery.

                                        ASX bounces back from market slump

                                        Australia’s share market edged higher by close on Thursday, recouping losses made earlier during this week’s coronavirus slump.

                                        Bunnings sausage sizzle to return

                                        Bunnings will restart its iconic sausage sizzles this weekend — but not all states can enjoy the barbecue goodness straight away.

                                        Worrying housing market figure

                                        New figures show how hard coronavirus has hit the housing market, with the number of people taking on home loans falling off a cliff.

                                        Super firm to pull investment from coal

                                        First State Super will divest from thermal coal mines in an attempt to fight climate change.

                                        Housing market sentiment collapses

                                        A residential property survey has shown that faith in the Australian housing market has collapsed across the country.

                                        Wine group points to 20% earnings fall

                                        Penfolds owners Treasury Wine Estates has flagged a 20 per cent earnings slump as COVID-19 dampens global wine demand.

                                        Retail and travel stocks take hit

                                        Retail and travel stocks fell on Wednesday as the Victorian lockdown continues to threaten Australia’s economic recovery.

                                        ATO cracks down on early super rorts

                                        The ATO will clamp down on people dipping into their super who have not been financially impacted by COVID-19

                                        CBA’s $500,000 bushfire investment

                                        Commonwealth Bank will invest $500,000 into the fire-damaged NSW south coast through bushfire recovery grants.

                                        Budget deficit to blow out to $240bn, expert predicts

                                        Westpac’s chief economist says the forecast blow out of the budget deficit will include an extension to JobKeeper and JobSeeker payments.

                                        CBA cuts saving rate on kids’ accounts

                                        Commonwealth Bank has slashed interest rates on several savings products including its Youthsaver account.

                                        Mortgage lifeline for struggling Aussies

                                        Australians hit by the financial effects of coronavirus could be handed another lifeline after the payment deferral period ends in September.

                                        Market slides as lockdown hurts confidence

                                        The Australian stock market closed lower on Tuesday as uncertainty over the Victorian lockdowns blunted signs of economic recovery.

                                        Big bank offers unbeatable interest rate

                                        Westpac has announced a lucrative new offer in a bid to attract young customers who are struggling to buy their first home.

                                        Card payments surge as economy recovers

                                        Australians are spending more as the economy begins to recover from COVID-19.

                                        Border closures hurt share market

                                        The coronavirus continues to play havoc with all parts of Australian life, with the stock market closing lower on the back of border closures.

                                        Aussies raid $18b from their savings

                                        More than 2.4 million Australians have applied to dip into their retirement savings, sapping the superannuation sector of more than $18 billion.

                                        Victoria cases rise as suburbs lock down

                                        Coronavirus cases in Victoria continue to soar as police patrol Melbourne’s hot spots.

                                        Employment pick up after virus shock

                                        Total payroll jobs increased 1.0 per cent between mid-May and mid-June, ABS data showed.

                                        Collins Foods soars after strong FY sales

                                        KFC franchisor Collins Foods says its full-year profit was up five per cent as Australians stuck to its trusted brand during a time of crisis.

                                        Consumer sentiment dips on virus case rise

                                        Consumer confidence dropped 4.6 per cent to 93 points, the biggest weekly decline since late-March.

                                        Westfield shoppers near pre-virus levels

                                        Shopper numbers at Westfield centres have climbed to 86 per cent of previous levels as people resume shopping habits amid relaxed virus restrictions.

                                        Copper rises as virus affects Chile supply

                                        Copper prices have remained near five-month highs due to supply problems in Chile and solid demand from China.

                                        ASX set to open lower amid virus concerns

                                        The Australian share market is tipped to open in the negative as concerns of a second wave of COVID-19 overseas continue to slow the reopening of the economy.

                                        Global stocks, oil up despite virus surge

                                        Worries about the coronavirus after the US recorded a record number of new COVID-19 cases hasn't dented sentiment, with global equities and oil prices rising.

                                        'Great day' as Virgin Aust sold to Bain

                                        Virgin Australia administrators have agreed to sell the airline to Bain Capital which is pledging a significant capital injection into its operations.

                                        Copper up as supply fears trump outlook

                                        Copper prices were higher overnight, bucking the shift to safe-haven assets in other markets, as a surge in coronavirus cases fuelled worries of mine shutdowns.

                                        Stocks hit by virus surge, recession gloom

                                        A jump in US coronavirus cases and the IMF's warning about the global economy has pushed global stocks to their lowest level in more than a week.

                                        Qantas slashes jobs, costs amid virus hit

                                        Qantas says it will cut 6,000 jobs and continue to stand down 15,000 employees as part of its recovery plan from the COVID pandemic.

                                        Qantas sending long-haul planes to desert

                                        Qantas says there is significant uncertainty about when its long haul Airbus A380s will resume flying and it will park them in the Mohave desert in the interim.

                                        A glimpse at Qantas' financial picture

                                        After making $771 million in profit in first half, Qantas is looking to make a small overall full-year profit

                                        Qantas job cuts and its COVID-19 strategy

                                        An Explainer on where Qantas will cut jobs and other details of its latest response to the impact of COVID-19.

                                        Copper choked by rising virus cases

                                        Copper prices slipped overnight as increasing virus cases erased hopes of economic recovery, offsetting upbeat data.

                                        Sonic expects flat earnings despite virus

                                        Sonic Healthcare says it expects this year to earn around $1.075 billon, the same as it made in FY19.

                                        Figures show businesses' sales struggle

                                        Two thirds of businesses have collected less revenue than this time last year due to the ongoing economic impact of coronavirus restrictions, new data shows.

                                        Goldsea pulls plug on Alto Metals bid

                                        China's Goldsea Group will let a takeover bid by its unit for Australian gold miner Alto Metals lapse.

                                        Philippines eyes Wirecard phantom billions

                                        The Philippines says Wirecard's former chief operating officer Jan Marsalek may be in the country as officials hunt for the company's missing $US2.1 billion.

                                        Gold shines, virus surge worries investors

                                        Global shares cooled as signs of an acceleration in coronavirus cases kept investors on edge, while gold prices surged to their highest in nearly eight years.

                                        Virgin bondholders propose $1b cash boost

                                        Virgin Australia bondholders have outlined the details of its bid for the airline, which involves a debt-to-equity swap and a capital injection of $1 billion.

                                        Copper gains as Trump, data help outlook

                                        Copper prices climbed after US President Donald Trump said a trade deal with China was "fully intact" and European and US data gave hope of economic recovery.

                                        Woolies’ big Xmas plan shelved

                                        Woolworths’ proposed plan to roster thousands of workers to spend Christmas Day shelf packing has been rejected by the NSW Government.






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