"No further action" - AMP off the hook on fees for no service scandal as Commonwealth prosecutors thwart ASIC's criminal charge pursuit

 Here's my analysis on ABC NewsRadio 

Jobless rate dips to decade low of 4.9pc but Sydney lockdown worries weigh

Australia's official jobless rate has fallen to 4.9 percent in June, the lowest level in more than a decade. 

The ABS says almost 52,000 new full time jobs were created with employers reporting high levels of job vacancies. 

Meanwhile, economists are forecasting that the greater Sydney lockdown will carve a slice from Australia's economic rebound with a 0.7 percent contraction in September quarter GDP.  

ABC's Peter Ryan says there is an outside risk of a double dip recession from a second consecutive quarter of negative growth if the Sydney outbreak spreads to other parts of Australia.

Sydney extended lockdown likely to stall economic rebound with negative September quarter GDP on horizon

Economists are forecasting that the greater Sydney lockdown will carve a slice from Australia's economic rebound. 

Commonwealth Bank head of Australian economics Gareth Aird sees third quarter GDP down 1.4 percent which means a 0.7 percent contraction. 

Mr Aird tells ABC's Peter Ryan there is an outside risk of a double dip recession from a second consecutive quarter of negative growth if the Sydney outbreak spreads to other parts of Australia.

I also speak with Tom Oriti on ABC NewsRadio.

Political stoush over Sydney lockdown flares between Victorian and federal governments; Commonwealth Bank predicts hit to economic growth

Recriminations have flared between Victorian and federal governments emergency support to NSW because of the Sydney lockdown. 

Meanwhile, Commonwealth Bank economists think Sydney lockdown will hit Q3 GDP hard (down 1.4pc), resulting in a 0.7pc contraction. 

CBA head of Australian economics Gareth Aird tells ABC's Peter Ryan the risk of a double dip recession because on the Sydney outbreak not spreading from Sydney.

 

Small business and consumers quickly adapt as Sydney lockdown extension looms; personal trainer Matt McConnell swaps gym for the oval

The pandemic has forced many Australian small enterprises to modify how they do their business with the greater Sydney lockdown likely to be extended by weeks. 

Personal trainer Matt McConnell has taken his customers to the local park while Airtasker chief executive Tim Fung tells ABC's Peter Ryan that consumers and businesses are adapting to meet strict stay at home orders.

Listen to the story broadcast on the ABC's AM program.

Sydney lockdown relief aid now urgent with some businesses now likely to close voluntarily

With the federal and New South Wales governments set to announce a major relief package later today, the economic cost of the greater Sydney lockdown is accelerating. 

Australian Retailers Association chief executive Paul Zahra says with the certainty of government support, many businesses open but currently designated as discretionary might chose to close voluntarily.

I speak with Tom Oriti on ABC NewsRadio

Emergency support "imminent" for struggling Sydney businesses facing extended lockdown

NSW premier Gladys Berejiklian says a deal on emergency support for Sydney businesses hit by the lockdown is "imminent" and could be announced in the coming days. 

Special support comes amid confusion about why some businesses remain open as "essential" while shoppers are order not to browse when they go out. 

COSBOA interim chief executive tells ABC's Peter Ryan that mixed messages from the NSW government are confusing businesses.

Struggling Sydney businesses plead for great lockdown support - Monday Finance with Peter Ryan

With the lockdown in greater Sydney likely to be extended beyond this week, small businesses are now relying on greater emergency support to survive. 

The federal government's Expenditure Review Committee meets today to consider financial aid while major banks have reinstated three month loan repayment deferrals for business. 

AMP chief economist Shane Oliver predicts costs will spiral to $7 billion if the Sydney lockdown is extended by a month. 

I speak with Alexi Boyd, interim chief executive of the small business lobby group COSBOA.