Australia markets closed

Union calls for compo for casual workers: Yahoo Finance Monday morning wrap

CANBERRA, AUSTRALIA - MARCH 03: Australian Health Minister Greg Hunt (L), Australian Prime Minister Scott Morrison and Australia's Chief Medical Officer Professor Brendan Murphy (R) at Parliament House on March 03, 2020 in Canberra, Australia. The Morrison government is set to release a stimulus package. (Photo by Tracey Nearmy/Getty Images)

Good morning.

Here’s what you need to know in Australia and beyond to kick-start your week:

ASX: Here’s a big surprise for you. Stocks on the Australian share market are set to slip further due to the continued spread of the coronavirus across the globe.

The SPI200 futures contract was down 93 points, or 1.5 per cent, at 6,113 at 0700 AEDT on Monday.

AMP Capital chief economist Shane Oliver says the Australian market would likely remain in freefall while coronavirus fears continue to disrupt economic activity and spending.

Wall St: US stocks fell again late last week as fears of economic damage from the virus grew. The S&P 500 posted its 10th decline in 12 sessions and global economic growth forecasts for 2020 were cut.

AUD: The Aussie dollar was buying 66.22 US cents at 0700 AEDT on Monday, up from 65.96 US cents when the market closed on Friday.

It doesn’t look like this coronavirus situation is getting much better. All around the world, the numbers are rising. In Australia, it’s not just restaurants that have taken a big hit to bottom lines: corporate events have been hit hard, with dozens of events cancelled and redundancies predicted. Reporter Anastasia Santoreneos investigates.

The government is preparing a $5 billion stimulus package to offset coronavirus’ impact on the economy. Unions are calling for casual workers who don’t get sick leave to get compensation and businesses are calling for a tax/regulation/red tape ‘holiday’.

Did you get this letter from the ATO? The Australian Tax Office accidentally sent false “overdue tax debt letters” to some taxpayers. Here’s what we know and what you should do about it.

A second language can come in handy – and raise your chances of scoring the job. Jobs platform Indeed has revealed to Yahoo Finance data on which second languages are the most in-demand by employers.

Airbnb is trying to curb house parties... By offering hosts discounts on sensor detection devices. It’s meant to keep guests safe yet protect privacy. Read up on it here.

ICYMI

How did you celebrate International Women’s Day? It’s no secret that women tend to be on the back foot in the workplace. So here are some top networking secrets by women for women.

Aldi has, like other supermarkets, imposed a limit on toilet paper. But users are still upset at the empty aisles, and took to social media to express their displeasure.

–with AAP

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