1. India flight ban to be lifted from May 15

Foreign Minister Marise Payne said that Australia will not renew its ban on flights from India, as well as the threat of a $66,000 fine and five years jail for Australians attempting to return from India, when the ban currently ends on May 15. "Based on the advice we have at this point, we fully expect it not to be extended beyond that date and we intend for facilitated flights to resume beyond that," Payne said from London.

2. Iron ore rises above US$200 a tonne

Iron ore prices have risen above US$200 per tonne for the first time, hitting a new record of US$202.65 according to the benchmark S&P Global Platts IODEX. "Appetite for steel has been far beyond expectations as China returned to work... helping iron ore fly past this historic milestone," said Julien Hall from S&P Global Platts. The previous record of US$193.85 was set on April 27, and the iron ore price is up around 27% from the end of 2020.

3. ACTU secretary says unions will push for pay rises if lockdowns are avoided

ACTU secretary Sally McManus has told The Australian that workers would have a "strong appetite for wage increases" if the economy continues to reliably improve and lockdowns are avoided. "People won’t accept an ongoing situation of wage suppression where they can see that employers and the big companies of Australia are doing fine," McManus said.

4. Japanese town spends $295k of COVID-19 relief money on big squid statue

The coastal town of Noto in Japan's Ishikawa Prefecture has reportedly spent 25 million yen ($295,000) of funding from a coronavirus relief grant to build a statue of a squid measuring 13 metres long. Local officials said the statue was built in an effort to boost tourism and awareness of the town's cuisine.

5. Dow Jones hits record high

The Dow Jones rose by 318.19 points or 0.93% on Thursday, another record-high close for the index. The S&P 500 rose by 34.03 points or 0.82% to 4,201.62, and the Nasdaq moved 50.42 points or 0.37% higher to 13,632.84. Online marketplace Etsy had the biggest fall of the S&P 500 stocks, dropping 14.57% after the company warned of slowing sales.