10 things you need to know this morning in Australia

Good morning. Let's do it.

The government is preparing a massive economic stimulus package, as the coronavirus threatens to hurl Australia into recession

The Morrison government harbours real fears Australia is at risk of falling into recession from the coronavirus, as it prepares a multibillion-dollar economic stimulus package which will focus heavily on tax relief measures.

What does the RBA rate cut mean for Australian mortgage holders?

On 3 March 2020, the Reserve Bank of Australia (RBA) cut the nation's cash rate by 25 basis points to a new record low of 0.50 per cent. Many banks are passing the rate cut on in full, but some are only passing it on to new customers.

For the first time since July 2019, there are no active fires burning in New South Wales

The NSW RFS said there are no active fires in New South Wales for the first time since July 2019. It marked an end to more than 240 days of fire activity in the state.

Australian tourism is copping a massive hit, as the bushfires and coronavirus keep more than a third of visitors at home

Australia's tourism sector is under immense pressure as 35% of bookings are cancelled, according to Tourism Australia. The significant downturn is a product of two consecutive crisises in the form of the Australian bushfires coupled with the coronavirus outbreak.

The James Bond movie 'No Time to Die' will be delayed 7 months because of coronavirus concerns

The next James Bond movie, "No Time to Die," has been pushed back from April to November amid coronavirus concerns. This is the third time the movie has been delayed.

Mike Bloomberg drops out of the 2020 presidential race and endorses Joe Biden

The billionaire Mike Bloomberg dropped out of the 2020 Democratic primary on Wednesday and endorsed former Vice President Joe Biden. The former New York City mayor, who spent over $US500 million on his short campaign, dropped out after crushing defeats on Super Tuesday.

Regulators have given their blessing to 'screen scraping' – the controversial method fintechs are using to fight the big banks

Australia's neobanks and fintechs are using a technique known as 'screen scraping' to help get a picture of their customers' financial position. Some of the big banks have been warning customers from allowing such apps to access their data, noting they are putting themselves at risk.

There's really no need to panic buy toilet paper

With the outbreak of coronavirus, supermarkets have been emptied of a number of essential supplies but one is the most alarming — toilet paper. While no one wants to live through the world's demise without a roll of loo paper, the reality is Australia's not likely to run out of toilet paper any time soon. Here's why.

If you've spotted one of these 3 red flags, there's a good chance you could get a better deal on your mortgage

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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