Yahoo Finance ASX to open higher as firms circle Virgin Australia
Good morning.
Here’s Yahoo Finance’s Thursday morning wrap.
Markets: The ASX is expected to open higher on Thursday as oil prices begin to improve. US crude and benchmark Brent prices climbed on Wednesday after a massive collapse earlier this week, in turn driving Wall Street higher.
The Dow Jones, S&P500 and Nasdaq all finished at least 2.0 per cent higher on Wednesday.
JobKeeper: Unions and politicians are warning employers about the risks of rorting the $1,500 JobKeeper payment system, as employees complain of rip-offs and manipulative bosses.
And self-made millionaire teen Jack Bloomfield says the payments are unfair to teenagers. Here’s why.
Virgin Australia: Firms including Oaktree Capital Management, BGH Capital and Apollo Global Management are reportedly circling Virgin (VAH.AX) after the troubled company entered voluntary administration on Tuesday.
App: A software developer is warning that the government needs to wait for Apple and Google to improve their software before rolling out the new coronavirus tracing app. The app is designed to find people who have been in contact with coronavirus cases, but blunders in the app design will dent public trust, the developer said.
Queensland renters: The Queensland government has passed laws preventing struggling families and business owners from being forced out of their rental properties due to coronavirus. The laws will force landlords to abide by a six-month moratorium on rental evictions.
Consumer rights: The consumer watchdog has put travel companies on notice and warned of huge fines if they try to shortchange travellers asking for refunds during the coronavirus pandemic.
"The essential consumer law is 'don't mislead consumers'," ACCC chair Rod Sims said.
"If you're telling consumers they don't have rights when in fact they do, that is illegal."
Disney heiress speaks out: And Disney heiress Abigail Disney has taken aim at the huge company after furloughing thousands of workers, while continue to pay dividends and bonuses.
“[The dividend would] pay for three months salary to front line workers. And it’s going to people who have already been collecting egregious bonuses for years,” she said.
Have a great day.
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