Virgin Australia boss says $1.4 billion taxpayer rescue loan now critical for airline's survival

The stakes are getting higher for Virgin Australia as the airline pleads for a $1.4 billion loan from the federal government. 

Virgin's chief executive Paul Scurrah has not set a deadline for assistance but is betting the Prime Minister won't want to hand Qantas a monopoly if Virgin collapses. 

Mr Scurrah has also tapped Virgin's major investors including Singapore Airlines, Etihad and the Chinese group HNA but says they face the same global predicament. 

Paul Scurrah spoke with ABC's Peter Ryan.

News Corp Australia chairman Michael Miller on community print shutdown, cites successive gov't bungling on reining in tech titans Facebook and Google

News Corporation Australia executive chairman Michael Miller speaks with ABC's Peter Ryan on the media giant's decision to suspend hard copy print runs for 60 community newspaper titles.

Mr Millers says the coronavirus has accelerated a rapid deterioration in advertising revenue but that the refuse of the tech titans Google and Facebook to pay for content continues to harming the media industry.

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Westpac's new chief Peter King on rising jobless - not all borrowers will survive coronavirus emergency

Westpac's newly-appointed chief executive Peter King has warned the risk of spiralling unemployment means not all borrowers will survive the coronavirus emergency.

The Westpac veteran says more than a hundred thousand people are being helped to manage their repayments during the crisis amid expectations of a recession and a jobless rate of ten percent. 

Mr King replaces Brian Hartzer who resigned after last year's money laundering scandal - and he spoke with ABC's Peter Ryan.

Locked down workers swamp internet, new Optus boss Kelly Bayer Rosmarin says coronavirus app usage up as much as 1125 percent

New Optus chief executive Kelly Bayer Rosmarin says demand for high speed internet has surged during the coronavirus lockdown as millions of Australians work from home. 

Data from the telco giant shows online meeting apps are putting extraordinary pressure on networks with the use of the Zoom service up 1125 percent. 

The former Commonwealth Bank senior executive says Optus is hiring as many as 500 recently laid-off staff including some from the airline Virgin Australia. 

Speaking with ABC's Peter Ryan, Ms Bayer Rosmarin backed Scott Morrison's $320 billion emergency package and is confident Australia will come out of the coronavirus crisis stronger.

Coronavirus rescue to push government debt to a trillion dollars, UBS warns. Businessman Graham Bradley backs extraordinary measures, likens crisis to WW2

The looming cost of shielding businesses and households from the worst of the coronavirus is set to push Australia's debt to eye-watering levels. 

Some economists predict the debt bill could eventually exceed a trillion dollars as the Prime Minister does "what it takes" to get Australia to the other side of this crisis. 

But prominent businessman Graham Bradley says all the normal rules have been put aside for now as Australia deals with the biggest challenge since World War 2. 

Mr Bradley speaks with ABC's Peter Ryan.

Economists applaud $130b jobs package but warn deep recession is inevitable. I speak with UBS Australia chief economist George Tharenou

Economists have welcomed the Prime Minister's $130 billion rescue package to keep as many as six million Australians in jobs. 

But UBS Australia chief economist George Tharenou predicts a deep recession with GDP diving ten percent in the second quarter of 2020 with the jobless rate of 10.5 percent. 

Mr Tharenou speaks with ABC's Peter Ryan.

"We'll keep the lights on": AGL boss Brett Redman on energy grid security during COVID-19 crisis

AGL chief executive Brett Redman tells AM despite the risk of workers going down with COVID-19, he's confident about "keeping the lights on". 

With the national energy grid an essential service, he outlines contingency plans AGL has such as special backup accommodation for isolating any infected staff. 

Mr Redman backs the PM's $130 billion wages subsidy scheme and tells ABC's Peter Ryan it will be critical in keeping the wheels of the economy turning. 

Commercial landlords under moral pressure not to evict business tenants as banks extend six month loan holiday - if they "do the right thing"

Major banks have put commercial landlords under moral pressure not to evict tenants or terminate leases. 

Landlords will be extended a six month loan repayment holiday on the condition that they  "do the right thing" and agree to throw distressed tenants a lifeline. 

Australian Banking Association chief executive Anna Bligh tells me despite the measures,  there's more pain to come. 

Also, the Foreign Investment Review Board will now scrutinise all proposals in a tightening of rules to protect Australian assets and distressed companies from potential raids. ABC's Peter Ryan with this analysis.