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What does Tasmania's economy face post-coronavirus?

CommSec's State of the States latest report reveals Tasmania's economy performing stronger than it had for more than 10 years. But that was before the coronavirus crisis hit. What's ahead?




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NAB asks shareholders for $3.5b to protect the bank against 'very uncertain times'

In an extremely unusual move, National Australia Bank reports its results to the stock exchange almost a fortnight early as it seeks an extra $3.5 billion of investment from shareholders.




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ASX jumps 1.5pc, despite fears of bank dividend cuts

After a shaky start, Australian shares closed sharply higher, but were dragged down by the big four banks, as investors weigh up the impact of COVID-19 on dividends.




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'It's been hectic': Flour production soars as coronavirus causes record demand

Australia's largest flour mill will produce an extra 50 million kilograms by the middle of the year as consumer demand goes through the roof.




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'Morally it's the wrong thing to do': Insurers refuse to cover landlord's rental loss

Thousands of mum-and-dad investors are being caught out by insurance companies refusing to cover them when they cut rent for tenants under financial stress due to coronavirus restrictions.




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Call centre staff in the Philippines have been sleeping at work to help Australian customers

A union for call centre workers in the Philippines claims staff have been sleeping in the office in potentially unsafe conditions to help Telstra and Optus customers, despite the risk of the coronavirus.




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The 'reset' it needed — how coronavirus is changing the fashion industry forever

Almost a quarter of Australia's fashion labels believe they will never recover from the coronavirus hit — but some are adapting and finding new ways to make money, and a new way of doing business.




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Westpac sets aside $3.6b for COVID-19 debt and AUSTRAC penalty, ASX falls

Australia's second-largest bank says its upcoming results will suffer a massive hit due to COVID-19, on another volatile day for the ASX.




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'Couldn't have come at a worse time': Collapsed builder leaves 241 creditors with nothing

Banyan Constructions collapsed earlier this year, and a report from liquidators has now revealed that the $22 million owed to creditors — mostly small, local businesses — will not be paid back.




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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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Coles, Woolworths ease coronavirus restrictions on toilet paper

Customers will be able to buy multiple packets of toilet paper at the supermarket giants, although a number of other items remain restricted.




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Almost half the businesses interested in JobKeeper have not signed up. Here's why

Hundreds of thousands of employers who registered interest in JobKeeper have not signed up for the payment, citing ineligible workers, confusing rules and cashflow problems.




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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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Coronavirus shutdowns leave expats unable to sell their homes in time to avoid hefty tax bills

Thousands of Australian expats fear they could be hit with large capital gains tax bills because they've been unable to return home due to COVID-19 travel restrictions, before a June 30 deadline that would have allowed them to sell their property to avoid liabilities.




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Military leaders warn we must prepare for a crisis worse than COVID-19

A confidential report commissioned by the Department of Defence predicted medical shortages, panic-buying and mass job losses a year before the COVID-19 outbreak.



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Coles gets coronavirus boost, Melco abandons Crown, ASX jumps

Panic buying, unsurprisingly, has led to a surge in Coles' sales, while the Crown Casino has picked up some new owners and Australian shares are having another volatile day.




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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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Funeral insurer who sold coverage to babies barred from taking on customers

Funeral insurer Youpla, slammed by the banking royal commission in a previous brand iteration for misleading Indigenous customers, has now been denied a licence to provide financial services and prevented from signing up new customers.




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Lebanon rocked by riots over economic hardship, as one protester dies in Tripoli

A shutdown to fight the spread of COVID-19 has made a dire situation even worse in Lebanon, with its currency plunging in value.




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Surging grocery costs blamed on fires, droughts and COVID-19

Australians have seen a rare rise in inflation, as a series of crises conspired to push up the cost of essential groceries, but economists say consumers should see cheaper prices again now that panic buying has subsided.




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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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Markets surge on Fed's promise to act 'aggressively' to save a stalled economy

The ASX joins a global rally after the Federal Reserve says it will "aggressively" use its "full range of tools" to aid the recovery, as the US economy records its worst slump since the global financial crisis.




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Outback charter companies nosedive as pandemic grounds flights

While the fate of Virgin and Qantas makes headlines, Australia's outback aviation companies say they've been forgotten by authorities.




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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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Metro West plan revealed: Rydalmere station scrapped, 150 properties to be acquired

The NSW Government releases the blueprint for the promised Metro West, revealing it will acquire 154 properties to accommodate the multi-billion dollar project.




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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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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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Truck driver involved in Grampians crash that killed one cleared of wrongdoing

After clearing one truck driver, police are still to interview another, following a fatal collision on Wednesday involving a man who died when his ute collided with a truck a carrying multiple vehicles.




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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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House prices edge higher as both buyers and sellers leave the market during COVID-19 crisis

Despite coronavirus restrictions sending auctions online and seeing many home sales abandoned, CoreLogic figures for April show prices continued to rise for the few properties that did sell.




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'No going back to everything the way it was': ANZ boss warns of 'slow grind' recovery

ANZ's chief executive warns the Australian and New Zealand economies will be reshaped by the COVID-19 pandemic and take years to recover from the economic fallout.




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Pub owners to pay $380,000 in damages over secret beer tap deals

The directors of a prominent Adelaide hotels syndicate are ordered to pay $383,000 to their former business partners after a court found they concealed deals with major breweries over access to beer taps.




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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.



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These waters off South Africa have gone quiet, and 'huge alarm bells' are ringing

Care about sustainable seafood? The waters off South Africa's iconic False Bay have "gone quiet", and experts believe it could be linked to your weekend fish and chips.




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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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Indonesian zoos facing financial strain could 'feed herbivores to the carnivores' amid pandemic

Some 70,000 animals across Indonesia, including members of critically endangered species, are at risk of starvation as zoos struggle financially due to social distancing restrictions amid the coronavirus pandemic.




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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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In what's left of the Australian TV industry after coronavirus, will the next Secret Life be made?

Some are warning Australia's television industry is facing a crisis that could affect how much viewers pay for entertainment in the future, and whether the kinds of shows that have been hits in the past will continue to be made.




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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.