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Australia PM announces new lockdown disaster payments – who’s eligible?

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Scott Morrison

Australian Prime Minister Scott Morrison has announced a new “temporary COVID-19 disaster payment”

The disaster payment will be made for people who live in declared COVID-19 hotspots and are unable to work because of a lockdown.

It comes as the nation’s second-biggest state of Victoria remains in an extended lockdown due to a COVID-19 outbreak.

The payment will be made available to those unable to work due to imposed lockdowns.

The Federal Government however revealed there are terms and conditions of the payment which include that the area in lockdown must be recognised as a hotspot from the Federal Government.

The PM also stated that payments will not be made available unless an area is locked down for more than two weeks, meaning a one-week lockdown would see no payments to stood down workers.

The Commonwealth Government also stated they reserve the right to cease payments if they no longer designate an area as a hotspot.

Image / Ticker NEWS

The breakdown

Only workers stood down from employment during a lockdown will be eligible for payments.

$500 PAYMENT PER WEEKFOR WORKERS WHO NORMALLY WORK 20+ HRS
$325 PAYMENT PER WEEKFOR WORKERS WHO NORMALLY WORK UNDER 20 HRS PER WEEK

The new payment is set to cost the Australian Government $50 million a week for every 100,000 applicants it pays.

Melbourne testing clinic /Image AFP

Australia’s Victoria remains in lockdown

Victorian Acting Premier James Merlino says vaccination was the only way out of the pandemic and that the locked down state was waiting on Federal support in relation to the federal vaccine rollout.

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Money

Warner Brothers & Discovery considers splitting up to boost stock value

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Money

Investors worldwide grow increasingly optimistic about Trump winning the election

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

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