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Melbourne, Australia enters its fourth lockdown, businesses left ‘devastated’

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Australia’s Victorian State Government has announced Melbourne and the entire state of Victoria will enter a seven day lockdown.

Victoria has been plunged into a seven-day snap lockdown as a rapidly-growing cluster of COVID-19 cases reached 26 as of May 27, 2020.

Acting Premier James Merlino announced the “circuit breaker” lockdown will begin at midnight tonight. The lockdown is due to remain in place until 11.59pm June 3. However, Mr Merlino said the government was still open to ending the lockdown earlier if possible, saying, “If we can end it sooner, we will”.

Five reasons to leave home

Acting Premier James Merlino has revealed there will only be five reasons to leave home.

From 11.59pm on May 27, 2021, Victorians will only have five reasons to leave home: shopping for food and supplies, authorised work, care and caregiving, exercise with one other person for up to two hours and getting vaccinated.

A five-kilometer travel radius will also be introduced. Shopping will be limited to one person per day, per household. Face masks will be required to be worn inside and outdoors everywhere.

Private and public gatherings will also not be permitted, although single bubbles and intimate partner visits will be allowed.

Retail stores among those ordered to close
Retail stores among those ordered to close

Businesses left devastated once again

Mr. Merlino says the Government is right now working through a plan to support businesses after many have now been ordered to shut.

“We know this will be particularly difficult for businesses and events”

Of the industries ordered to shut down include gyms, hairdressers, retailers (not including click and collect). Schools will also close, so too will accomodation and community eve

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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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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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Money

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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