A company owned by a Chinese shareholder of Virgin Australia has threatened to fire 2000 workers if the federal government does not bail them out. Virgin Australia went into voluntary administration on Tuesday with $5.3billion in debts, and the government so far refusing to offer a bailout. Chinese conglomerate HNA is the owner of airport ground services provider Swissport, which on Tuesday released a list of Virgin staff most at risk of being hit by the losses.
About 130,000 Queenslanders have lost their jobs or had their hours drastically cut through forced business closures, treasury officials estimate. Most of those people work in shops, restaurants, theatres, bars, cafes, live music venues, and galleries.
All Radio Rentals stores will be closed and 300 jobs made redundant as the electronics leasing firm migrates online amid the coronavirus-fuelled retail downturn. ASX-listed parent company Thorn Group on Thursday said it had made the "hard decision" to permanently close 62 Radio Rentals stores and selected warehouses as COVID-19 continues to melt consumer sentiment.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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