Catch the latest updates from ASX Australian Market 2020!

  • Apr 20, 2020 AEST
  • Team Kalkine

Welcome to Kalkine Media’s daily update of the latest events in the AU financial markets, the economy and major corporate moves -

The Treasurer of Australia has ordered that country’s competition watchdog to create a code of conduct for Facebook and Google which would force the tech giants to pay Australian media companies for using their content.

Small business . has called on the federal government to outlaw invoice terms of 30 days or more to small businesses amid reports a fresh wave of big business bullies is using the COVID-19 pandemic as an excuse to skip out on timely payments. In a statement issued Monday, Carnell named and shamed several big businesses, including department stores Myer and David Jones, for “damaging” their small business suppliers with lengthy payment times.

Major grocery supplier Metcash has become the latest major retailer to seek capital from investors in the face of COVID-19, raising $330 million to bolster its balance sheet and fund a slew of acquisitions. Institutional investors will be tapped for $300 million of the raise, which will be fully underwritten and offered at $2.80 per share, a 7.9 percent discount to Friday's $3.04 closing price.

Applications for the Government's JobKeeper scheme have opened and 6.7 million Australians are expected to benefit. The $130 billion programs are the largest single piece of government spending in Australian history and were designed to support businesses and workers significantly affected by the coronavirus crisis.

 

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There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

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