10 things you need to know this morning in Australia

Good morning all.

The Australian government is extending its coronavirus travel ban to South Korea, with enhanced screening for travellers from Italy

The Australian government's travel ban, which currently applies China and Iran, will be extended to South Korea. South Korea has the second-most cases of the coronavirus, with over 5,000 confirmed, followed by Italy and Iran.

'We will recover': The coronavirus is set to push Australia towards the edge of recession, but Treasury believes we can avoid the worst

The Australian Treasury has revealed its analysis of the coronavirus' economic impact. Noting the bushfires will already wipe 0.2% off the country's growth, Treasury Secretary Steven Kennedy said the coronavirus increases the "risk of a prolonged downturn."

Neobank Xinja has stopped customers opening new savings accounts, in a bid to preserve its high interest rate after the latest RBA cut

Neobank Xinja has made the unusual move in banking to stop customers opening up new savings accounts. Xinja said it made the decision as it faces pressure from the latest RBA rate cut and deposit inflows in excess of $350 million.

The $15 billion merger of TPG and Vodafone is set to go ahead, after the ACCC decided not to appeal

The Australian Competition and Consumer Commission will not appeal a Federal Court ruling in favour of the $15 billion Vodafone Hutchison Australia and TPG Telecom merger, paving the way for the two businesses to merge.

With only one more interest cut in its back pocket, the RBA could begin increasing the money supply in Australia 'within months'

Having cut the cash rate to 0.5% on Tuesday, the Reserve Bank of Australia (RBA) is for the first time near the limitations of monetary policy. Economists now expect it to cut once more to 0.25%, its own declared 'lower bound', before considering quantitative easing, or QE.

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.

As the coronavirus spreads, one study predicts that even the best-case scenario is 15 million dead and a $2.4 trillion hit to global GDP

The coronavirus outbreak that originated in Wuhan, China, has killed nearly 3,300 people and infected more than 95,000. The virus, which causes a disease known as COVID-19, has spread to at least 81 countries.

Cruise giant Carnival has seen its market value plunge by nearly 50% since the coronavirus outbreak started

Carnival shares tumbled as much as 15% on Thursday after the firm announced a second coronavirus-related lockdown on one of its ships. The cruise line has now erased nearly half of its market value since the coronavirus outbreak began.

Seth Godin's company Yoyodyne was acquired by Yahoo for $30m - now he's bringing his knowledge to Australia with two exclusive Q&As

If there's one thing you can trust when it comes to entrepreneurship, it's that learning from other people's decisions, mistakes and triumphs can mean the difference between your own success and a throwaway venture.

Unsubscribe • Email to a Friend • Privacy Policy

Business Outsider