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10 things you need to know this morning in Australia

Monday 24 February 2020

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10 things you need to know this morning in Australia

Good morning. A few coronavirus stories for you to ponder this morning.
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'Neobanks' are launching left and right in Australia, promising to do better than the big banks. Here's everything you need to know.

Neobanks, or digital banks, became a possibility in Australia in 2018 after a change in legislation opened the floodgates. Since late 2019, a wave of digital banks have arrived in Australia, seeing competition in banking heat up for the first time in decades.
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Three of the big four banks are quietly cutting interest rates on savings accounts, despite the RBA not making a move this year

Some of Australia's biggest banks have been lowering the interest rates they pay savers this year despite no movement on the official rate from the RBA.
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Sydney and Melbourne buyers are gobbling up properties as quickly as they can hit the market

Preliminary auction clearance rates in both Sydney and Melbourne are hovering around 80% after a bumper weekend saw almost 2,000 properties go under the hammer between the two cities.
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'The most disruptive thing to hit markets in many years': 5 financial experts sound off on coronavirus chaos, and what it means for investors

Stock markets around the world slumped on Monday as new coronavirus deaths in Iran, Italy, and South Korea marked a new high for outbreak-related fears.
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Harvey Weinstein escaped the most serious charges against him. Legal experts say jurors may have been confused about one of the case's star witnesses.

Convicted rapist Harvey Weinstein was found guilty on two criminal counts in a New York court on Monday. But he was acquitted on three others: a first-degree rape charge and two counts of predatory sexual assault charges.
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The coronavirus has pandemic 'potential' as it spreads in South Korea, Italy, and Iran, according to WHO

The novel coronavirus that has prompted more than 79,551 cases of COVID-19 worldwide is spreading rapidly - and independently - in countries outside of China, including Italy, South Korea, and Iran.
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Photos show what Italy is like under lockdown as the country becomes Europe's epicentre of the coronavirus with more than 200 cases reported in 3 days

Italy is now the focal point of the novel coronavirus outside Asia. Over three days, there was a rapid spike in confirmed cases in the northern regions of Lombardy and Veneto - increasing from three confirmed cases on Friday to 215 by Monday.
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Trump accused Boris Johnson of 'betrayal' after slamming the phone down on him in a moment of 'apoplectic' fury

US President Donald Trump accused UK Prime Minister Boris Johnson of "betrayal" after slamming down the phone on him during an "apoplectic" call between the two leaders.
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5 services you can use to transfer money overseas from Australia

While banks usually offer foreign currency transfers, there are plenty of websites and apps which can provide the service at cheaper prices. We rounded out a list of 5 websites you can use to transfer money overseas, including World Remit and TransferWise.

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