The premiere revealed there were four new covered 19 cases in the state. Now
we just heard from the chief medical officer Kerry Chant who says Lisa one of those cases was a staff member at a school.
There were four additional cases in the 24 hours to 8 p.m
on the 13th of May. One was a staff member at Werrington public school and that
school has been closed for today for the usual process of contact tracing
both staff and students.
Close contacts will be placed into isolation and we do some
further extensive testing to find the source in that case.
Kerry Chant there in New South Wales. We'll keep an eye across that press conference and bring you anything
newsworthy as it comes about. Well,
let's get more on the situation in New South Wales as well as the latest on that outbreak in Victoria at a
McDonald's restaurant.
With more we're joined by Zalika Rizmal in Melbourne and Jessie Dorset in Sydney. Zali, starting with you
What is the latest on that McDonald's Custer?
Well, the number of cases are now confirmed to be linked to this McDonald's
in Falkner here in Melbourne's north has doubled over the last
day with three new cases being linked to this outlet.
We've got two of the seven new Victorian cases that were reported yesterday
And someone who had been previously diagnosed now also
linked back to this restaurant as well. Now McDonald's has confirmed that of those six a
total number in that cluster, four are workers while two are family members of those workers
Meanwhile, 92 other staff members have also gone into
isolation after being tested for the virus.
Now they of course won't be going back to work for two weeks
Meanwhile, the restaurant itself has reopened this morning.
It was closed temporarily for deep cleaning yesterday
But it has been reopened with staff brought in from other outlets in the area.
Now we've seen quite a steady stream of customers
here this morning in particular on the drive through,
many, many cars coming through but people also going inside as well
Jesse Dorsett in Sydney the New South Wales government has brought pubs
into line with relaxed rules for other food outlets in the state
New South Wales publicans, obviously, a bit happy about that slight light at the end of the tunnel
G'day Michael, we're on King Street in Newtown in Sydney's inner west.
There are dozens of pubs on this strip alone
So a bit more life here tomorrow
Last night the state government decided that
yes, pubs and clubs would be allowed to open to allow up to ten people to dine with them.
So you'll be able to order drinks to your table to have a drink with your meal,
but the bars themselves won't be raging, although after so long in
self-isolation at home perhaps ten people will be able to make some noise
The AHA , the Australian Hotels Association, has been calling for this for some time
They say it's unfair that pubs and clubs weren't allowed to open.
Bars, and gaming venues themselves will remain shut, and the New South Wales Premier Gladys Berejiklian
has this morning said that she is worried about what will happen tomorrow, but this is an important step in
reopening Sydney and the rest of New South Wales. Michael, last hour we were joking about having a "schnitty in the sun"
Well, I kid you not a couple of minutes after that there was some raindrops
so I think that's a sign that perhaps I should stick to the chicken Caesar salad
Yeah, or the chicken parma, I want one of those too. Hopefully a bit of a parma-led recovery there in New South Wales
Hey, Jesse, thank you and Sally and Melbourne. Thank you so much too.
Well in London
there's been a string of social media posts showing people pouring off
double-decker buses and packed tube stations
on the same day employees were ordered back to work.
It came as the UK government warned
it is likely that the UK is already in a significant recession. Sam Hawley has more from London
Boris Johnson
told the population to get back to work and in their thousands they did
but the message about avoiding public
transport didn't quiet seep through to everyone and is impossible for some.
Instead this is what the British capital saw on the first back to work day in seven weeks;
busy roads,
commuters streaming off buses and
pouring off trains.
It's nowhere near the usual numbers
but it's clear social distancing was almost impossible in some cases.
You can see people more packed and
if there are people who are still carrying the virus
they're transmitting of us is not nice
It's a lot busier than what it was a couple of weeks ago
but I'm finding it's getting busier and busier each day.
Boris Johnson is facing criticism that he's moving too fast to restart the economy
But he's told the House of Commons
he's ready to put on the brakes again if he needs to.
I want to remind the house that what we are doing is entirely
conditional and
provisional. The UK has made a huge amount of progress. The people of this country have worked incredibly hard
To get the are down. We cannot now go back to to square one
Boris Johnson
is also under pressure about the UK's standing on the international stage. The death toll's now past
33,000 and the opposition says the government no longer wants to show the public graphs that
compare nations.
For many weeks the government has compared the UK number against other countries
Yesterday the government stopped publishing the International comparison and the slide is gone.
Why?
But I think people do understand what we're trying to do as a country and as for the international
comparisons that he seeks to draw now
I think he will have to contain his impatience.
In the weeks ahead
all eyes will be on the infection rate and given the troubles with social distancing
it's hard to see how it could go down.
Samantha Hawley there in London. Now to finance with Mads
Thank you very much, Lisa and look it's going to be all eyes on the telly at 11:30 today
which is when we get the April jobless figures out from the ABS
Economics experts are predicting it could be up to 9%, so we'll wait and see what
what that brings but and we'll talk about that more in a little bit
First of all, I just want to take you to the markets because there's been some pretty interesting
situations last night. So the our futures are ... Sorry,
our market is going to open lower based on our futures and on the Dow overnight
there was a more than 2% slide, which has been a pretty big slide considering how stable it's been recently
There's the dollar and Tapis crude trading at nearly 30 US dollars a barrel
Let's just talk more about what's happened overnight with by with Markus Padley. He's the author of the stock market news letter Marcus Today.
Good morning to you Marcus
Morning Madelyn.
So what's going on? More than a 2% slide on the Dow this is a sort of we haven't seen that for a couple
of couple of weeks now what's happened?
Yes, in fact 2 2% slides in two days, which is a bit of a worry because corrections start fast
but we're still in the sort of sideways band at the moment. Not enough to worry us
but what's happening is Jerome Powell overnight has talked about a long slow economic recovery and
he's putting up the hands that the central bank has only got so many weapons
They are refusing to go into negative interest rates and they're calling on
the government to have fiscal support if they if we're there to avoid a
slow lengthy recovery, if they want it to come back in a v-shape
He's basically calling on Congress
And there are fears that Congress have it's political issues so that
they're not going to agree on another package
Will we see that reflected in our markets here as well Marcus?
Absolutely but the numbers to recognise at the moment are that the US
market, the S&P 500 is 15 percent off its high the
Nasdaq, which is mostly technology stocks is 8 percent off its highs and the Australian market is still 25 percent off its highs and the
p/e on the
Australian market is 15 times, which is a measure of how expensive it is
But in the US the S&P 500 is on 21 times and the Nasdaq
is on 26 times and that's for 14 trillion dollars worth of stocks, which is a ridiculous
It's not a real-world number
So the issue is that there's a bit of overpricing in the US rather than Australia
Okay, look just to move on to another topic. We're going to be watching today at 11:30 for those
jobless figures coming out from April. It will be the first two weeks of April that the ABS took that survey
so by then the shutdown was in full swing
but it's actually not going to necessarily be the full picture because so many
of those people are being cushioned by jobseeker at the moment.
Absolutely, and in fact, they're sort of
There's a lot of common international commentary that our job seeker program has been really quite clever
But this doesn't change the fact this jobs number will probably be the worst
monthly number since 1978, the worst since the 1990 recession
and is going to be somewhere between eight to ten percent
But April was clearly the worst
month and the expectation on every number, be it GDP, unemployment,
inflation, is that the impact has been highest in April and that we're getting over it
So the market prices on next month, next six months a year
It's looking through this and the risk at the moment is not but these numbers
are bad the risk for the markets at the moment
Is that the the next set of numbers,
the recovery numbers, aren't as good as expected and that's what Jerome Powell's warning us about.
Yeah, and just to move on to the other really big news
Which is ongoing for us here in Australia, is this increasing
trade spat with China
How how is that impacting
Markets and and the big businesses that are in our equities market?
it's not having a big effect on the market. If you put China
If we're talking
Barley, beef we're talking
0.5 percent of GDP could break down if we fell out with China. They are 85 percent
reliant on imports of iron ore so they're not going to mess us around on that front
but on coal it could spill over into coal, but it's 0.5 percent of GDP. It affects specific stocks
So you've got stocks like Elder's
Australian Agricultural Company, the beef and barley companies. There are some coal companies it could spill over to but it's stock specific
It's not really market specific
And if you put China having a trade spat with us into perspective of the impact of COVID-19
It becomes immaterial so it's not really a market driver
You