Increased Unemployment, and decline in Property prices in Australia? | Market Update

  • May 11, 2020 AEST
  • Team Kalkine

Insurance and banking giant Suncorp will take a hit of $133 million on account of the COVID-19 crisis and has revealed incorrect payments to staff will cost it up to $70 million. Suncorp said COVID-19 will have a range of impacts across its businesses due to the expected sharp deterioration in the economy, increased unemployment, and a decline in residential and commercial property prices.

One of Latin America's largest airlines has filed for Chapter 11 bankruptcy protection in New York, saying the COVID-19 pandemic has devastated its business. Avianca Holdings said in a statement that the move is aimed at continuing operations and preserving jobs when it is able to resume normal operations following a global health emergency that has grounded 90 percent of global air traffic.

Cochlear chief executive Dig Howitt has warned it's still too early to predict the true impact of coronavirus on the hearing implant maker, which is in "unchartered territory" due to economic slowdowns and pauses on elective surgery.

#bankingnews #propertyinvestment #covid19australia


The video has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above video is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. Kalkine does not in any way endorse or recommend individuals, products or services that may be discussed on this site.


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.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK