10 things to know this morning in Australia

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Good morning all. Hope you are doing well, and for the Sydneysiders, I hope you survive the lockdown.

1. As expected, the lockdown restrictions affecting Greater Sydney have been extended by a week. Prime Minister Gladys Berejiklian on Wednesday announced that stay-at-home orders and business closures, which were due to expire this Friday, will instead last until midnight on Friday, July 16. Health authorities on Wednesday revealed 27 additional cases of COVID-19 in the community.

2. We expect an increase in cases today. Three local government areas – Fairfield, Canterbury-Bankstown and Liverpool – have been identified as areas of major concern for health officials. There are 37 COVID-19 patients in Sydney hospitals, including seven in intensive care and two ventilated.

3. The private company could be part of the vaccine rollout in Australia later this year, Treasurer Josh Frydenberg said. Frydenberg said a “productive” meeting of business leaders and government officials heard that vaccines “could be provided to local Bunnings or Officeworks.” But Frydenberg and deployment chief Lt. Gen. John Frewen said the decision would be subject to vaccine supply, which is expected to improve from September.

4. In addition to the above, Wesfarmers chief executive Rob Scott has confirmed that he will give employees paid time off to get vaccinated. “We gave six hours of paid leave to collect the two doses of the vaccine,” he told Radio National this morning. “It will cost us around $ 8 million per year. But it’s really important that we do our part to encourage people to go for the vaccine. “

5. Investor loans have reached their highest levels since 2015, new ABS data shows, but experts say they are not yet stepping up competition for buyers. Investor loans rose 13% in June and 116% from May 2020. The return of investors also closed the gap between soaring house prices and comparatively lower apartment prices, the investors said. experts.

6. Nearly two in three Australian bosses are still claiming their bonuses during the pandemic, new data shows. Analysis by the Governance Institute of Australia shows that one in four ASX executives and directors receive raises, up from more than half the previous year. As workers face stagnant wage growth, CEO Megan Motto cautioned companies to be “careful” about how they reward their biggest employees.

7. The first “Millennials and Gen Z Investing Conference” in Australia was held at the end of last week, and I forced one of our reporters to attend. It was an interesting glimpse into a rapidly developing space, where influencers are giving advice ranging from harmless to shady – just as regulators are starting to take a closer look.

8. Donald Trump has said he is filing class actions against Facebook, Google and Twitter and their executives, Mark Zuckerberg, Jack Dorsey and Sundar Pichai, alleging they were censoring users. The lawsuits come after social media platforms banned it following the January 6 riot on the U.S. Capitol. Trump and other Republicans have waged a war against the two companies for alleged censorship.

9. It’s not just Australia and the RBA that are facing soaring house prices. In the United States, the Federal Reserve is also monitoring the country’s hot real estate market – and doesn’t know what to do. Some officials “saw benefits” in cutting mortgage purchases to cool the market, while others want to stay the course, according to meeting minutes.

ten. Hooray! The Ever Given was published by the Suez Canal Authority and is – slowly – resuming its journey. He spent months in detention while Egypt negotiated payment for the closure of the canal by the ship. Egypt reportedly asked for $ 200 million, but it’s unclear how much it ultimately got.

BONUS ARTICLE

Fancy wallowing in the depravity of the Australian real estate market right now? Amazon’s new show “Luxe Listings Sydney” might scratch that itch. Or get angry. Our reporter took a look.

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