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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

Anthony Lucas is reporter, presenter and social media producer with ticker News. Anthony holds a Bachelor of Professional Communication, with a major in Journalism from RMIT University as well as a Diploma of Arts and Entertainment journalism from Collarts. He’s previously worked for 9 News, ONE FM Radio and Southern Cross Austerio’s Hit Radio Network. 

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Business

Companies to pay extra for verified Twitter accounts

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Elon Musk has announced that companies and brands will have to pay $1,000 per month – plus an additional $50 per sub-account – to get verified check-marks on Twitter

The new pricing falls under the new Twitter Blue for Business service.

Within the next few months, only paying Twitter customers will have verified status.

Twitter has stacked on $12.5 billion in debt, and this move hopes to increase subscription revenue to meet Musk’s obligations.

Advertisers halted spending on Twitter after the takeover, but Twitter has since announced partnerships with two brand-safety vendors to win back marketers.

Musk also announced that Twitter would start sharing ad revenue with creators for “ads that appear in their reply threads”, but didn’t provide further detail.

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Business

BMW to invest €800 million in Mexico

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BMW is set to invest €800 million in Mexico, to produce its next generation of high-voltage and fully electric batteries

 
The carmaker is looking to convert more than half of its sales into all-electric cars by 2030.

Construction will begin next year with production beginning in 2027.

The announcement follows several other major expansions from the automaker in recent months, including a $1.7 billion investment in the United States.

The move will add around 1,000 new jobs to its Mexico operations.

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Business

A British digital currency “later this decade”

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The Bank of England and Britain’s finance ministry think the UK is likely to need to create a central bank digital currency later this decade.

“On the basis of our work to date, the Bank of England and HM Treasury judge that it is likely a digital pound will be needed in the future,” the Telegraph quoted BoE Governor Andrew Bailey and finance minister Jeremy Hunt as saying in the joint report.

“It is too early to commit to build the infrastructure for one, but we are convinced that further preparatory work is justified,” the Telegraph quoted the report saying.

The BoE declined to comment on the Telegraph article, but said a joint consultation on CBDC issues would be published shortly.

A government source said the report would be published next week.

BoE Deputy Governor Jon Cunliffe is due to give a speech on Tuesday to update the finance industry on the BoE’s CBDC work.

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