Money

Businesses left devastated following Sydney lockdown extension

Published

5 years ago

July 7, 2021

Sydney businesses have received another blow with lockdown set to be extended for another week

Greater Sydney’s lockdown has been extended by seven days, with a threat of even tougher restrictions in the city’s southwest, after 27 new locally acquired cases were reported.

Only 13 of those cases were already in isolation.

The state premier expressed concern the Delta variant had now established a foothold in a number of suburbs in the south-west.

The existing lockdown will run until Friday midnight, 16 July, but Ms. Berejiklian said residents in Fairfield, Canterbury-Bankstown, and Liverpool may face stiffer orders to stop the movement of people.

Many businesses say they are on the edge of collapse and are calling for more government support.

Multiple industries have been forced to close, while others are resorting to operational changes – such as cafe shops and hospitality venues shifting to takeaway only.

The relief package available to businesses

A relief package to help Sydney businesses cope with the financial impacts of the city’s lockdown has been put into place to help operators recoup lost revenue and claim unused stock.

Lobbying from industry groups has meant the support package will echo the one provided to northern beaches businesses over the Christmas lockdown in 2020.

Sydney’s first two weeks in lockdown wiped around $2 billion off Australia’s gross domestic product , with a quarter of the national economy forced to stay home.

Restaurant and Catering Association chief executive Wes Lambert stated that hospitality organisations lost around $70 million in binned stock over the first weekend of lockdown.

Money

Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide

U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.

Published

2 days ago

January 21, 2026

Harvey Vargas

U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.

U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.

The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.

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Money

Gold hits record highs as investors flee risk

Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.

Published

3 days ago

January 20, 2026

Harvey Vargas

Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.

Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.

The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.

Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.

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Money

Markets edge higher as 10-year yields hit new highs

Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.

Published

3 days ago

January 19, 2026

Harvey Vargas

Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.

All major stock indices are starting the week slightly higher, giving investors cautious optimism. Analysts are keeping an eye on movements in small caps and mega-cap tech stocks amid these early gains.

The yield on the 10-year Treasury note has climbed to 4.23%, the highest since last September. This follows Kevin Warsh emerging as the frontrunner for the next Federal Reserve Chair, sparking speculation on future monetary policy.

Rising yields could trigger a pullback in small-cap stocks, while investors may pivot toward mega-cap tech, expected to deliver strong earnings growth. Overall, the market is likely to see a neutral to slightly bearish trend next week due to overbought conditions.

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