Good morning and happy Friday to you all.

1. Australia has lifted the recommended age group for AstraZeneca’s COVID-19 vaccine to 60 and over. It was 50 and over previously. Health Minister Greg Hunt said on Thursday Pfizer was now the preferred vaccine for under-60s. “Are we on track to offer every Australian a vaccine, who is eligible, during the course of 2021? The answer remains, in the advice we have, is yes,” Hunt said.

2. We’re awaiting the case numbers in New South Wales. There were two new local cases yesterday, and new exposure sites were published last night, which you can see below. The full list is here – worth a look for Sydneysiders.

3. Regulators have revealed they are mulling a possible lending intervention as household debt mounts. As property prices soar, the RBA has raised major concerns, indicating it is considering what steps it may take next if credit growth doesn’t slow. It follows similar moves across the ditch, after New Zealand’s central bank implemented lending controls of its own earlier this year.

4. The unemployment rate dropped to 5.1% in May, with the number of employed workers now sitting a full percentage point above pre-pandemic levels. Some 701,100 people now count as unemployed, 53,000 fewer than in April. The generally rosy figures will play into the Reserve Bank of Australia’s decision-making on interest rates, but many Australians are yet to see the benefits of falling unemployment in the form of rising wages.

5. New analysis from the Commonwealth Bank’s economics team has found Australia’s labour market is being distorted by the exodus of foreign workers. While job vacancies are breaking record highs, they have done so following the departure of 286,000 foreign workers, suggesting their absence may be driving explosive jobs growth. There were almost the equivalent number of vacancies in February, with sectors reliant on foreign workers among those driving the hiring spree.

6. The New Zealand travel bubble is safe for now, despite the smattering of cases in NSW. “As you can see at the moment, [we’re] keeping a watching brief [and] staying in touch with health officials,” NZ PM Jacinda Ardern told the “Today” show this morning.

7. Breaking news: Australia’s private schools have a lot of money. Way, way too much? Well, I don’t want to editorialise. The Nine papers report today that Australia’s mot prestigious private schools are “worth a massive $8.5 billion and accumulated assets at a greater rate than the property market or the stock exchange between 2015 and 2019”. Just one of these institutions, Shore School in Sydney, is now worth more than half a billion dollars.

8. Sky News has announced it will launch a new free-to-air channel in August, after signing deals with regional broadcasters Win and Southern Cross Austereo (SCA). The channel will bring its news and its opinion-driven programs, fronted by such luminaries as Andrew Bolt, to a possible seven million viewers. The launch follows increased scrutiny around the News Corp-owned channel’s turn toward sensational, conspiratorial content.

9. Victoria’s Secret is abandoning its Angels, saying they are no longer “culturally relevant”. The lingerie giant said on Wednesday that it would partner with activists and entrepreneurs for its new image and shape a turnaround for the brand. These women, who include the Indian actor and entrepreneur Priyanka Chopra Jonas and the pro soccer player and gender-equality activist Megan Rapinoe, will become the face and voice of the brand, the company said.

10. Keeping the saucy content ball rolling: increasingly popular adult entertainment platform OnlyFans is seeking funding at a valuation of more than $1 billion, sources told Bloomberg. The site wants to focus on becoming mainstream and move away from being just known for the X-rated, one source said. It also wants celebrities and athletes to be able to connect with fans, the sources said.

BONUS ITEM

Hey, great news for Sydneysiders who love a long, boozy lunch on Fatcat Friday. It’s for the economy.

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