Need to know: Monday

The Australian Financial Review has a daily newsletter about how the coronavirus pandemic is changing markets, business and politics. This pandemic will profoundly change how all Australians live their lives and reshape the modern, globalised world.

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JobKeeper fuels 'major hunger' for new sneakers

Young Australians flush with JobKeeper cash are leading a boom in discretionary online spending, retailers say.

Continuous disclosure rules eased

Company directors and executives providing profit guidance to stock market investors will be relieved from continuous disclosure rules for the next six months and further insulated from class action law suits, as the government seeks to protect business from the economic uncertainty fuelled by the coronavirus.

A longer JobKeeper will keep people in fake jobs

Lengthening JobKeeper for businesses that can't stand on their own two feet by September, will stop the shift of people out of dead-end illusory jobs that are sadly never returning, writes John Kehoe.

Household fragility points to post-COVID pain

New data suggesting two in five households have a buffer of less than one month’s pay if they lose their jobs adds to calls for the government to keep stimulus measures in place, writes Chanticleer.

SA eases COVID-19 restrictions ahead of schedule

South Australia has fast-tracked its loosening of COVID-19 restrictions, with pubs, restaurants, clubs, cinemas, beauty salons and gyms able to have up to 80 patrons from June 1.

Border delays will 'wipe out Gold Coast tourism': hotel operators

Standing in the middle of the deserted Sheraton Grand Mirage Resort Gold Coast, the hotel's marketing director, Nick Clarke, says he has "not heard any rational argument as to why the Queensland border should not open by July school holidays".

ASX climbs 2.2pc to 11-week high, buoyed by travel stocks

The Australian sharemarket closed at an 11-week high on Monday as local shares extended their rebound from March's market rout with the economy slowly returning to normal.

Cash for new homes the key to saving jobs, says industry

A $50,000 "new home buyer" incentive could prevent the residential construction sector from falling off a cliff within months, saving potentially hundreds of thousands of jobs, according to property industry groups.

Why Target ended up a $3.6b black hole

Wesfarmers had high hopes for Target and Kmart when it shelled out $19.3 billion for the entire Coles Group retail stable in late 2007. The two discount department store chains were part of the purchase, but Target has proved to be the lemon.

Coffee nooks and tie-dye looks: Pinterest knows what Aussies want

Tie-dye outfits, roast lamb, and at-home coffee nooks: this is what Australians have been punching into the search bar of visual mecca and discovery platform Pinterest far more than usual during lockdown.

By the numbers

The total number of coronavirus cases across the country increased by nine for a total of 7118, and active cases fell to 484, as at 5.30pm AEST on Monday. Follow our live data blog here.