Hundreds of financial services providers, along with thousands of other businesses, will be forced to close under new lockdown restrictions.
Only bank branches will be permitted to operate under the new lockdown, as well as “critical banking services” to support the provision of services, and credit and payment facilities. Financial asset investing, insurance and superannuation funds, and auxiliary finance and insurance services will be forced to close.
The restrictions apply primarily in metropolitan Melbourne.
The new six-week lockdown will impact a range of Victorian businesses, including retail stores, manufacturing, and administration. Supermarkets, grocery stores, pharmacies, petrol stations, and post offices, are some of the businesses that will be permitted to remain open.
The closures confirm the worst fears of many economists, with a second lockdown likely to cause significantly more damage to Australia’s economy and result in an extension of stimulus measures.
A man sentenced for nine counts of obtaining financial advantage by deception in what the regulator called a "ponzi-style" investment fraud ...
Global money invested in ESG assets soared to over US$100 trillion amid the pandemic, but as the market becomes increasingly sophisticated, ...
The major bank's first-half profit was down 20 per cent from the first half of 2020 as it continued to feel impacts from ultra-low interest ...
Get notifications in real-time for staying up to date with content that matters to you.
Read More