Switzer Daily
5 things you need to know today
1. Lockdown to cause job losses
Economists calculate the extended Sydney lockdown will contract the economy and kill thousands of jobs. NSW is one-third of the Aussie economy and has 22% of the country’s workforce and the seven-week lockdown will take 1.4% off growth, which will increase unemployment levels.
2. Apple bites into BNPL bonanza
The
share prices of Afterpay and Zip fell by around 10% yesterday and you can blame
Apple and PayPal. Investors in the likes
of Afterpay and Zip had a bad day yesterday as Apple joined the buy now pay
later (BNPL) space. News says Apple was working on a
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