LISTEN: Retail crisis - up to 167 Target stores to close or rebrand in massive restructure, 1300 jobs at risk

In the latest crisis to hit Australia's struggling retail sector, the Wesfarmers conglomerate says it will either close or rebrand up to 167 Target stores. 

The massive restructure could see as many as 1,300 staff lose their jobs, at a time when the jobless rate is surging because of fallout from COVID19. 

The decision has sparked an extraordinary outburst from the Agriculture Minister David Littlerproud who says Australians should vote with their wallets. 

But ABC's Peter Ryan says Wesfarmers is taking hard decisions to reduce its exposure to commercial leases.

TWU renews call for PM to rescue Virgin as German gov't takes equity in Lufthansa

Transport Workers Union national secretary Michael Kaine says the clock is ticking on the survival of Virgin Australia and it's now critical for the federal government to stump up with an emergency rescue loan. 

The request comes as the German government considers a 20 percent equity stake in Lufthansa worth US$9.9 billion. 

Mr Kaine tells ABC's Peter Ryan that the Prime Minister's steadfast refusal is "brinkmanship" and complicates the work of Virgin's administrators.

Will COVID-19 accelerate demise of cash as social norms adapt? HSBC global economist predicts a :cash lite" world where human contact is minimised

When was the last time you used cash during the pandemic? 

And will it disappear all together in a post-virus world as cashless payments dominate? 

I speak with HSBC global economist James Pomeroy who sees a "cash lite" post COVID19 world where human contact is minimised.