1. 'Holiday here' delivers $7.5 billion boost to economy in December quarter
Treasury has estimated that GDP increased by $7.5 billion in the December quarter as Australians holidayed and spent money locally. "The cost of international border restrictions on tourism exports was offset by Australians not travelling overseas and instead spending domestically across the economy," said Treasurer Josh Frydenberg according to the AFR.
2. Businesses warn Australia may lose the 'economic war' without vaccine timeline
Associations including the Australian Chamber of Commerce and Industry and Ai Group are calling for the federal government to establish a new COVID-19 vaccine rollout timeline after the original target of all Australians receiving their first dose by October was dumped due to concerns with the AstraZeneca vaccine. "We may have won a health battle but we risk losing the economic war," Ai Group CEO Innes Willox told The Australian.
3. ACCC boss keeps sights on Google and Facebook
In an interview with the AFR, Australian Competition and Consumer Commission chair Rod Sims said the regulator would continue to target major technology companies including Google and Facebook in issues such as failing to remove scam advertising and advertising practices that allow anyone to bid on business names and trademarks to appear in search results.
4. $1,800 reward offered for return of record-winning rabbit
The owner of a Guinness World Record-winning 129cm-long continental giant rabbit in the UK is offering a £1,000 ($1,800) reward for its return. Darius the rabbit is believed to have been stolen from its enclosure on Saturday. "We are appealing for information following the theft of an award-winning rabbit from its home in Stoulton, Worcestershire," said a spokesperson for West Mercia Police.
5. Wall Street in the red on Monday
The Dow Jones fell 55.20 points or 0.16% to 33,745.40, down from a record high set on Friday. The S&P 500 dropped just 0.81 points or 0.02% from its record close last session, ending Monday at 4,127.99. The Nasdaq moved down 50.19 points or 0.36% to 13,850.00