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$1bn stash waiting for Aussies; Victoria virus costing Australia $1bn a week

Victoria premier Daniel Andrews in front of a 'stay at home' sign on the left, a woman looking surprised on the top right, and a piggy bank on the bottom right.
It's all happening in finance Wednesday morning. (Images: Getty)

Good morning – here’s what you need to know:

Markets: US' troubles with the coronavirus had Wall St anxious overnight, sending all three major indices tumbling. There are also suspicions investors were selling off to lock in their recent gains.

With Australia experiencing its own virus woes with Victoria heading back into lockdown Wednesday night, Australian shares are also expected to head down. The SPI200 futures were 0.5 per cent down at Wednesday 7am AEST.

The Australian dollar was buying 69.47 US cents 7am AEST, a bit down from Tuesday's closing price of 69.52 US cents.

"We failed": This rare admission from a federal government minister came in response to revelations that Centrelink has hung up on 30 million calls in the past decade. He reckons it's all good now, though.

There's a $1 billion stash waiting for you to grab. Find out whether you can claim and how.

Victoria's second lockdown is costing Australia big time. Federal treasurer Josh Frydenberg says Melbourne's new six-week restrictions will leave the entire nation $1 billion out of pocket each week.

New 'Big Brother' banking is both a blessing and a curse. Our expert Nicole Pedersen-McKinnon explains why.

LinkedIn now tells people how to say your name. A new audio-recording feature has been introduced to help your business connections avoid awkward moments.

Do you use Afterpay? The buy-now-pay-later provider's share price has gone gangbusters this year, despite (or maybe because of) the Covid-19 outbreak. And now its two co-founders are about to have a $250 million payday. Good for them.

Have a great day, everyone.

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