Virgin Australia has officially entered voluntary administration. The airline confirmed the move on Tuesday, saying it entered voluntary administration to "recapitalise the business" and "help ensure it emerges in a stronger financial position on the other side of the COVID-19 crisis." Deloitte was appointed as the voluntary administrators.
Australians affected by the economic downturn will be able to apply to access their superannuation from Monday. 1.6 million are expected to do so, with the government promising to streamline the application process to five days.
The Australian government has announced it has ordered the establishment of a mandatory code of conduct compelling companies like Facebook and Google to share advertising revenue with news publishers.
Online sales at Myer rose 800% during Easter, after the company shut its doors amid the coronavirus pandemic and was forced to stand down 10,000 workers.
Australia's unemployment rate could peak at 15%, according to new analysis by the Grattan Institute. The working paper suggests as many as 26% of the workforce could be out of jobs as a direct result of the COVID-19 shutdown.
Denmark and Poland won't give financial aid to companies registered in offshore tax havens. Governments around the world are scrambling to bail out their economies with huge stimulus packages amid the coronavirus crisis.
Last year, Zoom took three months to fix a security flaw that allowed hackers to potentially gain control over certain user's computers running Apple's macOS, according to a report from the New York Times on Monday.
Sweden, which has yet to order any lockdown amid the novel coronavirus pandemic, has seen 14,777 COVID-19 cases so far, and 1,580 deaths from the virus.
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