Qantas announced to the ASX a new tranche of emergency measures to "guarantee the future of the national carrier", including standing down some 20,000 employees.
Australia's unempoyment rate is set to climb to 7% by October 2020, according to Westpac's latest forecasts. Its economists made the prediction, noting the government's stimulus package won't avert a recession.
Many weddings have been either postponed or cancelled following the coronavirus outbreak. They come as Prime Minister Scott Morrison issued a ban on non-essential gatherings of 500 or more people, before banning indoor gatherings of 100 or more.
On Wednesday, the Australian government announced a $715 million bailout for the country's airlines to keep them afloat. The federal government will waive all fees and levies which otherwise would be owed, and will reimburse the airlines the $159 million collected from them since 1 February.
Australia's national postal service and major retailers are putting new measures in place to deal with the coronavirus pandemic, as more and more housebound Australians turn to online shopping.
Woolworths and Coles are enforcing a two-item per customer limit on certain products. Woolworths issued the notice on Wednesday, which applies to most packaged goods.
Australians are now subject to a ban on indoor gatherings of 100 people or more This is in addition to the ban on outdoor gatherings of 500 people or more.
Italy on Wednesday recorded the highest one-day death toll of any nation since the coronavirus outbreak began: 475 deaths. As of Wednesday, the coronavirus had infected more than 35,700 people and killed nearly 3,000 people in Italy.
The average home loan in Australia is over $400,000. Without even taking into account the amount of interest that may accrue on that sum, it's already a significant investment.
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