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A $20 billion loan guarantee for small businesses, $31.9 billion of grants to encourage small businesses to keep workers and $18 billion of support for welfare recipients and people who lose their jobs are the key elements in the federal government's second round COVID-19 economic response.

PODCAST: Mark Pownall and Mark Beyer discuss the market overview in these dramatic times, government and industry policy responses, travel challenges, earning guidances, businesses taking on staff, Acciona and CPB Contractors going head to head, Cottesloe aged care and apartment project, and our special report on the ICT sector.

The Australian share market has finished its worst week since October 2008 with a modest daily gain.

Prime Minister Scott Morrison has announced further restrictions on indoor public gatherings to slow the spread of COVID-19.

Iris Residential has overcome a range of challenges to build its Booragoon apartments project, to begin within weeks.

The federal government will pour an extra $444.6 million into aged care facilities, including money to help them hold onto staff amid the coronavirus crisis.

Lithium miner Neometals has declared a partially franked dividend of 2 cents per share, despite challenging economic times and after the company delivered $45 million to shareholders over the past four years.

BHP will hire 1,500 temporary workers across the country on six month contracts, with at least 400 to be at Western Australian iron ore operations, Business News understands, while Woodside has pledged to cut payment times for contractors.

Curtin and Murdoch universities have introduced early semester breaks to prepare students and staff for a transition to online learning, in response to the global COVID-19 pandemic.

Wesfarmers has disclosed that nearly every part of its business has been affected by COVID-19, with Bunnings and Officeworks doing better while Target is suffering.

Small businesses impacted by the coronavirus crisis will be able to defer their loan repayments for six months under a plan put forward by the banking industry.

The underpayment of staff highlights the complexities of Australian labour laws.

Telstra has frozen its job cutting program for six months, suspended late payment fees and disconnections, and has invited stood-down Qantas employees to apply for 1,000 temporary jobs to help virus-proof the economy.

Big banks have led an almost three per cent surge in Australian shares after an overnight buying spree on US and European markets .

Chamber boss stares down virus with bold claim

Gold prices slipped more than 1 per cent on Thursday as the dollar jumped to multi-year highs, with the coronavirus pandemic threatening to cripple economic activity and prompting investors to sell assets to keep their money in cash.

BHP will start paying invoices from small business suppliers after just seven days and has created a $6 million fund to support labour hire companies affected by COVID-19.

The performing arts sector is coming up with new ways to ensure people are entertained, in light of government restrictions on indoor events attended by 100 people or more as a result of the COVID-19 pandemic.

Roger Cook confirms community transmission in WA. Prime Minister Scott Morrison has imposed a travel ban on all non-residents. Confirmed COVID-19 cases in Australia has reached 514.

Large portions of Bayswater and Forrestfield have been defined as Metronet precincts, with state government agency DevelopmentWA to guide future development in the areas.

The Australian stock market has shrugged off an emergency rate cut from the Reserve Bank, hitting a fresh four-year low in the process, while the Australian dollar has sunk to an 18-year low.

Mineral Resources boss Chris Ellison has struck a deal with his brother Andrew Ellison's company to sell two of its non-core manganese assets while also providing project funding and mining services assistance.

Robotic bricklaying company FBR has slashed its workforce, saving $10 million per year, and postponed the construction of its first display home, which was due to commence in a matter of days.

Two new facilities to support lending worth a combined $105 billion are key elements of the Reserve Bank and federal government's plans to support the economy in response to COVID-19, while the RBA cut rates to 0.25 per cent and promised an unprecedented target on government bond yields.

Zenith Energy will increase the capacity of a power station at one of Toronto-based Superior Gold's operations in Western Australia after receiving a 52-month contract extension.

Support for businesses to hold on to workers should be prioritised over cash handouts for households, according to Deutsche Bank, which forecasts Australia's economy will fare better than most with a contraction of only 0.1 per cent in 2020.

Wesfarmers has undergone a restructure of its industrial division, with David Baxby to step down as managing director.

A dedicated call centre has been established for Western Australian public healthcare workers to manage coronavirus screening and testing.

Accelerator programs can help startups get moving, and WA is well placed to deliver.

Qantas is suspending all international flights, will delay its $201 million interim payout, and is standing down two-thirds of its 30,000-member workforce until the end of May in the face of the escalating COVID-19 pandemic.

Nine Entertainment, BlueScope Steel and more companies have joined the flood of listed firms cancelling their earnings forecasts as coronavirus chaos spreads.

Investors in a buying mood have pushed the stock market up as they jump on banks stocks ahead of an expected Reserve Bank stimulus move.