Global stocks have risen as investors latch on to strands of hope of progress in the fight against coronavirus.
US markets rose 1.3 per cent in midday trading despite early start fades.
The gains have come despite the global death toll reaching a new milestone at 150,000 as well as China's economic downturn plunging 6.8 per cent last quarter. Analysts are cautious the market will remain volatile and any economic improvement to likely be gradual. Image: AP
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'Travel bubble' under consideration for Australia, NZ | Sky News AustraliaNew Zealand Deputy Prime Minister Winston Peters says a trans-Tasman travel bubble is a serious possibility if the country is able to maintain its low transmission rate. \n\nHe said travel restrictions will have to remain in place until a vaccine for the coronavirus was secured, but an exception might be made for travel between NZ and Australia. \n\nThe national lockdown is on track to be lifted next week but will be decided by the Cabinet on Monday. \n\nImage: AP
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Australia in lockdown for another four weeks: PM | Sky News AustraliaPrime Minister Scott Morrison says there are “no plans” to change the current lockdown measures for at least another four weeks. \n\nDelivering an update in Canberra on Thursday, Mr Morrison said restrictions would only be eased if Australia met three key conditions: increased testing, better contact tracing, and the ability to lock down localised areas in cases of outbreaks. \n\n'We want to be very clear with Australians, baseline restrictions we have in place at the moment there are no plans to change those for the next four weeks,” he said. \n\nMr Morrison also clarified what he sees as the end date for the “six month” timeline his government has referred to the response to the pandemic. \n\n“On six months, we have often talked about what is the six months, went does it start and when does it end? This is the June and September quarter,” the Prime Minister said. \n\n“We have bought that time for six months and we intend to use that wisely, we would expect there would be restrictions running over that entire six month period but the degree of those and how much they can be relaxed or changed over that period that would depend on the circumstances, the health and economic advice at the time.'\n\n\nImage: News Corp Australia
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Landlords campaign against new protections for tenants | Sky News AustraliaThe Real Estate Institute of Queensland has launched a campaign against rent protection laws set to go through the state parliament next week, calling on 600,000 landlords across Qld to reach out to their Premier.\n\nThe laws include a six month ban on evictions and all non-essential inspections as well as a waiver on rental payments.\n\nThe REIQ said the proposed changes were too in favour of tenants. \n\nThe institute said the protections could force landlords to sell their properties at a lower rate as a consequence of losing money through their tenants. \n\nImage: AP
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March unemployment rate climbs to 5.2 per cent | Sky News AustraliaThe unemployment rate for March has climbed to 5.2 per cent, up from 5.1 per cent in February. \n\nThe 0.1 per cent increase came as a surprise to economists who predicted it would rise to at least to 5.5 per cent.\n\nAround 6,000 jobs were added back into the economy.\n\nThe data is based on surveys taken during the first two weeks of March.\n\nEconomists said April figures would be a better representation of the current Labour market.
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'Real concern' the economy will suffer beyond pandemic | Sky News AustraliaCornerstone Group Senior Director James Cullen says there is a “real concern” for the economy beyond “getting through COVID-19 over the next six months”.\n\nThe jobs figures report due to be released on Thursday is expected to show a rise in the unemployment rate from 5.1 per cent in February to 5.5 per cent during March, with the possibility of a greater increase.\n\nMr Cullen told Sky News “we saw Treasury figures out yesterday which suggest that with the JobKeeper package in place we could see unemployment rising to 10 per cent' \n\n'And of course the IMF is suggesting that unemployment could continue to rise in Australia over the next few years,' he said. \n\nMr Cullen said one of the most concerning areas was the group of casual workers who were not included in the government's JobKeeper package. \n\n“I suppose the real challenge now will be how we manage that transition and ease those restrictions back and hopefully in time get back to some normalcy and the see the economy hopefully come roaring back,' he said. \n\nImage: Getty
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Turnbull dishes dirt on ex-colleagues in tell-all memoir | Sky News AustraliaFormer prime minister Malcolm Turnbull says Scott Morrison did not deserve to win the 2019 election. \n\nIn an excerpt from his anticipated tell-all memoir, Mr Turnbull claimed Mathias Cormann and Peter Dutton once described Mr Morrison as a 'Machiavellian plotter'. \n\nMr Turnbull also detailed his personal battle with depression, revealing he had dark thoughts after losing the Liberal leadership to Tony Abbott in 2009. \n
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