Coronavirus fears are continuing to bite into business and the broader economy, with the Treasurer Josh Frydenberg warning Australia won't be immune from any global shock.
The retail giant Woolworths says its on alert about delays in products sourced in China and its ability to service Chinese supermarket customers.
Virgin Australia is slashing flights as the coronavirus cuts demand as the airline reported an $88 million half year loss.
ACCC chairman Rod Sims tells ABC's Peter Ryan he's expecting coronavirus scams.
Wednesday, February 26, 2020
Coronavirus fears extend Wall Street plunge as economic damage deepens
Wall Street has fallened heavily again as global fears accelerate about the rapid spread of the coronavirus.
The Dow Jones Industrial Average ended 3.1 percent weaker after the US Centers for Disease Control said American communities should prepare for more cases.
Treasurer Josh Frydenberg has warned the coronavirus epidemic will take a bigger toll on Australia's economy than the recent bushfires crisis.
But despite the human and economic damage, Mr Frydenberg is refusing to back away from a forecast budget surplus - one of the government's key election platforms last year.
Here's my analysis from this morning's AM program
The Dow Jones Industrial Average ended 3.1 percent weaker after the US Centers for Disease Control said American communities should prepare for more cases.
Treasurer Josh Frydenberg has warned the coronavirus epidemic will take a bigger toll on Australia's economy than the recent bushfires crisis.
But despite the human and economic damage, Mr Frydenberg is refusing to back away from a forecast budget surplus - one of the government's key election platforms last year.
Here's my analysis from this morning's AM program
Tuesday, February 25, 2020
Australian markets rocked on coronavirus fears
Australian shares have dived on fears the the coronavirus has spread beyond China into South Korea and northern Italy.
On Wall Street, the Dow Jones Industrial Average lost all of the years gains ending down more than 1,000 points or 3.65 percent.
CMC Markets chief strategist Michael McCarthy tells ABC's Peter Ryan the coronavirus contagion could spark a correction.
On Wall Street, the Dow Jones Industrial Average lost all of the years gains ending down more than 1,000 points or 3.65 percent.
CMC Markets chief strategist Michael McCarthy tells ABC's Peter Ryan the coronavirus contagion could spark a correction.
Italy the new coronavirus red zone, global markets plunge, Wall St ends down 3.56pc
Global markets have plunged on fears the the coronavirus has spread beyond China into South Korea and northern Italy.
On Wall Street, the Dow Jones Industrial Average lost all of the years gains ending down more than 1,000 points or 3.65 percent.
The risk posed to Europe is now ringing alarm bells for investors with villages locked down north of Milan, raising the prospect of border controls across the continent.
ABC's Peter Ryan analyses the latest chapter in coronavirus contagion.
On Wall Street, the Dow Jones Industrial Average lost all of the years gains ending down more than 1,000 points or 3.65 percent.
The risk posed to Europe is now ringing alarm bells for investors with villages locked down north of Milan, raising the prospect of border controls across the continent.
ABC's Peter Ryan analyses the latest chapter in coronavirus contagion.
Monday, February 24, 2020
Energy grid security and stability critical after extreme summer weather, warns Energy Security Board chairman Dr Kerry Schott
The reliability and stability of Australia's power grid is now at a "critical" status according to a report out this morning from the Energy Security Board.
In its annual health check of the grid, the Board says extreme weather over the summer and strain on ageing coal fired power stations stretched the capacity of the system.
On the upside, the rapid growth in wind and solar generation could see renewable energy account for 40 percent of consumption by 2040 but that's also posing a threat to keeping the lights on.
Energy Security Board's chairman Dr Kerry Schott speaks with ABC's Peter Ryan.
In its annual health check of the grid, the Board says extreme weather over the summer and strain on ageing coal fired power stations stretched the capacity of the system.
On the upside, the rapid growth in wind and solar generation could see renewable energy account for 40 percent of consumption by 2040 but that's also posing a threat to keeping the lights on.
Energy Security Board's chairman Dr Kerry Schott speaks with ABC's Peter Ryan.
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