Hello folks.

1. Three new coronavirus cases have been confirmed in Victoria. There has been one additional mystery case confirmed over the past fortnight, though the 14-day average has fallen to 2.4.

2. U.S. stocks cratered on Wednesday after a continued spike in COVID-19 cases prompted a new round of lockdowns in Europe. A 40% surge in COVID-19-related deaths in Europe over the past week spurred Germany and France to announce new restrictions on movement within the countries. Bars, restaurants, and gyms in Germany and France will close while schools and nurseries remain open. Tech stocks led the market lower amid a congressional hearing on Section 230 with the CEOs of Twitter, Facebook, and Alphabet testifying.

3. Climate change is worrying more Australians than ever before, according to a new report from The Australia Institute. 80% of people think we are experiencing problems caused by climate change already, and 83% support the closure of coal-fired power stations. “Our research shows that, far from dampening the call for climate action, the COVID-19 crisis has strengthened Australian’s resolve for all levels of government to take action on climate change,” Richie Merzian from the Australia Institute said.

4. In the wild world of influencers, love is more than a chemical reaction in the brain. Relationships between content creators can actually be big business. Online creators use relationships to reach new audiences, create new and different content, and even to provide professional assistance with their work.

5. In three years, Australia’s defence forces have spent a combined $50 million on settled, withdrawn and denied sexual abuse claims, FOI data has revealed. A Defence spokesperson told Business Insider Australia the institution is taking steps to prevent sexual misconduct in the future, and to support victims to report it and seek help.

6. New South Wales is rolling out new regulations for the short-term rental sector. Under the laws, guests can’t make noise that affects neighbours and complaints can be made to Fair Trading. “The NSW Government is introducing these laws as part of our broad reform of the sector,” Minister for Better Regulation and Innovation Kevin Anderson said in a statement. “Together, they will ensure the minority of participants who are giving the sector a bad name are removed and the short-term rental sector is improved for hosts, guests and communities.”

7. Scott Galloway, the NYU professor who foresaw the collapse of WeWork, made similar predictions about buy now, pay later darlings like Afterpay. Last year, he argued that there was no moat protecting such companies from being steamrolled by bigger players in the credit market. Now he admits he was off the mark. “To their credit they have executed really well, good for them, we need more companies like them to innovate and maintain that momentum,” he said.

8. Coles released its first quarter results, reporting group sales revenue of $9.5 billion. The company also reported a rise in online supermarket sales, which lifted 73%. Much of Coles’ sales growth was attributed to shopping across Victoria amid tougher coronavirus restrictions.

9. Apple is quietly building a search rival to Google ahead of the DOJ’s landmark antitrust case, according to a report. Apple now shows its own results through a search box on iPhone home screens. This update, to iOS 14, is Apple’s latest step towards its own search function to rival Google, the Financial Times reported. Google has been the iPhone’s default search engine for more than 10 years.

10. Interesting development in the streaming vs cinema wars. MGM held discussions with Netflix and Apple about releasing the new James Bond flick No Time To Die directly on their streaming platforms, according to a new report. MGM wanted around $US600 million for the upcoming James Bond instalment, but the streaming giants only wanted to pay half this price, Deadline reported. The studio has pushed back the release to April 2021 “to preserve the theatrical experience for moviegoers.”

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