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Superannuation early withdrawal risks collapsing retirement system

Super funds and prominent professional investors warn that the mass withdrawal of funds from superannuation during the COVID-19 crisis risks undermining the whole retirement income system.




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Union takes Qantas to Federal Court over 'heartless' denial of sick leave to stood-down workers

The Transport Workers' Union urges the Federal Court of Australia to find that Qantas is still responsible for paying sick leave to 25,000 workers who have been stood down during the global coronavirus pandemic.




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'Relax the rhetoric': Businesses open, but coronavirus crackdown has customers 'nervous'

Small businesses in Tasmania struggling to survive amid the coronavirus crisis call for clearer messaging from authorities, saying there is no point trading if customers are too nervous to leave home.




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Stimulus payments leave households better off so far, but analysts warn of looming $60b hit

The Federal Government's stimulus package is supporting Australian households during the coronavirus pandemic, with a surge in unemployment payments more than offsetting the fall in income from job losses, according to the Commonwealth Bank.




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'Coffee, then NAFI': Future of 'crucial' fire-tracking website in doubt

It is one of the most popular and important websites for cattle producers, rangers and carbon farmers in northern Australia, but its funding is about to run out.




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Victoria criticises 'completely inappropriate' independent schools funding offer from Federal Government

Victorian Education Minister James Merlino accuses the Federal Government of using funding to "force" independent schools to undermine the state's strategy on face-to-face learning during the coronavirus pandemic.




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'Market failure': ACT Government threatens to cap petrol profits if prices don't drop

Fuel prices have plummeted across Australia during the coronavirus pandemic, but the ACT Government says they are not falling quickly enough in Canberra — and they are going to do something about it if prices do not fall to below $1 per litre this weekend.




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Key points from the PM's press conference

Where coronavirus came from, Australia's relationship with China, and the possibility of being able to jump on a plane to New Zealand were all canvassed by the PM in his latest press conference.




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Holiday homes turned long-term rentals add to surge in listings

The major online platforms say rental listings are up 8-10 per cent compared to last year, as thousands of Airbnbs and other short-term rentals are expected to move to the long-term market as coronavirus halts travel.




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Renters could find themselves in paradise as a wave of Airbnb homes hit the market

The major online platforms say rental listings are up 8-10 per cent compared to last year, as thousands of Airbnbs and other short-term rentals are expected to move to the long-term market as coronavirus halts travel.




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Businessman's dairy proposal puts pressure on Government to help struggling farmers

A Victorian businessman has given the Federal Government a detailed plan to help the struggling dairy industry get back on track — and give more money to farmers.




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ANZ announces 51pc profit slump, defers dividend

ANZ announces a 51 per cent slump in profits and defers paying a dividend as it braces for at least a billion-dollar hit from the COVID-19 recession.




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About 750,000 customers could pay thousands extra after bank cuts home loan repayments

Commonwealth Bank customers could end up paying tens of thousands of dollars more on their home loans because of changes to repayment levels, a financial expert warns.




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Authorities investigate aged care coronavirus cluster as Victoria records seven new cases

Victoria's total of COVID-19 cases rises to 1,361, as Chief Health Officer Brett Sutton reveals authorities are investigating three cases linked to a Melbourne aged care facility.




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Restaurants and cafes recognise benefits of single-use plastics amid pandemic

A ban on single-use plastics including cutlery and straws will be pushed back in SA to allow restaurants and cafes to reopen "sooner rather than later" amid the coronavirus pandemic.




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'Unacceptable' gas fracking in Channel Country should stop, leaked department report told Queensland Government

A leaked expert report shows the Queensland Government was advised to stop further gas fracking in the state's sensitive Channel Country, but a separate department already extended gas exploration until 2030.




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Energy operator wants to remotely switch off rooftop solar systems amid 'uncontrolled growth'

Australia's electricity grid operator wants the authority to remotely switch off new rooftop solar systems in SA in order to manage their "invisible and uncontrolled" growth.




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Coronavirus update: China's Hubei province lowers emergency response level

The initial epicentre of the coronavirus outbreak will lower its emergency response level from tomorrow. These are the key coronavirus developments from Friday.





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Company buys coal mine for $1 and receives $35 million environmental refund. Here's how

A company linked to Labor figures that bought a mine for just $1 enjoyed multi-million-dollar refunds from its environmental bond after concessions from the Palaszczuk Government, documents show.




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This university student pulls in nearly double his usual earnings thanks to JobKeeper

Thanks to a loophole in the Federal Government's JobKeeper legislation, Lewis Mullins has been earning far more than he did before the coronavirus pandemic. But the same can no longer be said for his younger colleagues.




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Solid demand and favourable weather buoy agribusiness confidence

Solid rainfall has boosted farmer confidence this season and, while uncertainty hangs over the global economy, many remain optimistic that agriculture will weather the storm.




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Key points from the Prime Minister's latest press conference

The Prime Minister and Chief Medical Officer urge people to download the tracing app to speed easing of restrictions, while another large support package to help keep aged care resident safe is announced.




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Coronavirus update: New York City nursing home reports 98 deaths as FDA approves experimental drug

US President Donald Trump seemingly increases his estimate of possible deaths from coronavirus to 100,000, up from 70,000 earlier in the week, as South Africa, Spain and some American states loosen their restrictions. These are the key coronavirus developments from today.




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Tesla shares tumble after Elon Musk tweets they're too expensive

Elon Musk has seen Tesla's share price falling after a series of unusual tweets, including saying he would sell all his possessions.



  • Business
  • Economics and Finance
  • Science and Technology
  • COVID-19
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Property values fall slightly in parts of Queensland but steady overall

Property values fell slightly in some parts of Queensland in April but rose in others amid a sharp drop in sales due to the COVID-19 pandemic.




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From hobby cook to burger king with little savings or experience – and dad as the delivery guy

At 14 years of age Zaynn Bird was a sub-par McDonald's employee. At 23 he owns one of his state's most impressive burger joints.




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Flight Centre stops charging cancellation fees for trips affected by coronavirus

The travel agent chain backs down from charging hundreds of dollars in cancellation fees for trips cancelled due to COVID-19 restrictions, following pressure from customers and the Australian Competition and Consumer Commission.




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How an elderly island enclave warded off COVID-19 ... without blowing up the bridge

The community of mainly over-60s on St Huberts Island in NSW manages to stare down the threat of COVID-19 with music, exercise and good wine — and a fresh catch of fish delivered by doting grandsons.




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Goodbye Game of Thrones, hello Normal People: Is the era of gratuitous on-screen sex over?

Sex and nudity is strewn across our TV and cinema screens, but for actors and audiences, there can be a cost. That's starting to change, says Normal People's on-set intimacy coordinator.




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In the middle of an economic crisis, one sector is experiencing a surprise 'COVID surge' in jobs

While the economic tsunami of coronavirus shutdowns hammers most sectors, WA's resources industry has jobs created on mine sites where providers of support services like catering, cleaning and maintenance are in high demand to keep mine sites safe.




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Coronavirus update: Italy sends millions back to work after two months at home

After two months in almost total lockdown, 4.5 million Italians are allowed to return to work today as the country with the second-highest coronavirus death toll begins to wind back some restrictions.




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Majority of shut-off WA businesses 'confident' they will survive pandemic

The coronavirus pandemic is understandably weighing heavily on the business sector, but there are early signs of green shoots as one state begins to open up.




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Canberra petrol stations to face 'weekly fuel price challenges' as cost drops to $1 per litre

Canberra petrol retailers will need to meet weekly fuel price targets to avoid the ACT Government regulating the market, despite prices dropping to about $1 per litre after the Chief Minister threatened to cap margins.




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ASX rises as Afterpay surges on Chinese investment, job ads plunge

The Australian share market closes higher, shaking off initial falls, while Afterpay shares surge after revealing investment by Chinese firm Tencent. Job ads fell by 50 per cent in April as coronavirus hit businesses.




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WA shut itself off from the country and the world to prevent coronavirus. The impact is hitting home

The fallout from harsh border closures means many WA tourism businesses will struggle to stay afloat for longer than six months given a huge drop in revenue.




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RBA expects 1 million Australians to stay unemployed until end of next year

Up to a million Australians may have lost their jobs since social-distancing measures to limit the spread of COVID-19 ramped up, new ABS data suggests, while the Reserve Bank expects the economy to take a 10 per cent hit.




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Murray Bridge journalist launches online service after ACM suspends newspaper

A journalist left out of work after Australian Community Media shut down his regional printing press starts his own online newspaper in an effort to keep the community informed.




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Hotel industry body calling for pubs to reopen later this month under loosened restrictions

A peak industry body says South Australia's 12-day stretch without any new coronavirus cases has created a "high level of expectation" that pubs will reopen.




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Security worker jailed for stealing $340,000 from Catholic Church to fund 'indulgent' lifestyle

An Adelaide mother is jailed for stealing from the Catholic Church to pay for expensive overseas holidays and indulgent consumer goods, while a former accountant is also sentenced for stealing from his clients.




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COVID-19 checklist released: Here's what NT businesses must do before reopening ahead of May 15

Are you a business that wants to reopen on May 15? The Government has released the COVID-19 Safety Plan checklist you must complete before doing so.




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With the curve flattened, the PM is focused on getting a million people back to work

While tough coronavirus restrictions have saved thousands of lives, Scott Morrison says the country is now in a position to start clawing back some of the $4 billion lost every week that restrictions continue. Here are the key takeaways from his press conference.




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Women bearing brunt of COVID-19 job losses 'suddenly' stripped of financial independence

New data shows how hard the impact of the coronavirus has been on women's jobs as a leading economist worries about the long-term impact for women in the workforce.




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Foxtel 'threatened with extinction' within a few years as streaming services cannibalise revenue

Under siege from much cheaper rivals and with lenders unwilling to support it, pay TV operator Foxtel is increasingly looking like a threatened species.




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The US meat industry has been crippled by coronavirus. Here's why that won't happen here

US meatworks have been epicentres for coronavirus outbreaks and shutting them down has disrupted the supply chain. But Australia is set up differently.




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'A rip-off and a rort': Residents have their say as ACCC questions ‘higher than expected’ NT fuel price

Michael Gunner issues his "first and final warning" to petrol companies to take action as the ACCC puts in its two cents on the NT's comparatively high fuel prices.




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A day of fasting, the evening meal, then the entire building went up like a bonfire

Huge flames are filmed shooting up the side of a Middle Eastern residential tower shortly after residents finish their nightly Ramadan meal.




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Calls for State Government to help thousands of local council staff who are without pay

The state's peak body for local councils is calling on the Victorian Government to help more than 5,000 council staff who are without work and ineligible for JobKeeper, amid calls for a rates freeze for property owners.




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As Queensland's mild winter looms, calls to reopen the state get louder

Regional Queensland communities with no coronavirus cases want to reopen their businesses, saying their local economies should not suffer because of outbreaks in the state's south east.




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Almost 7,000 square kilometres of land to be released for coal and gas exploration in regional Queensland

Almost 7,000 square kilometres of land will be released for coal and gas exploration in central and north Queensland as part of measures to ensure the survival of the resources sector through the coronavirus pandemic, the State Government says.