https://www.bloomberg.com/authors/AUV0MXuslC8/james-mcintyre RSS for Node Wed, 06 May 2026 22:34:38 GMT https://www.bloomberg.com/news/articles/2020-04-28/australia-economy-news-deepest-downturn-in-90-years-is-coming https://www.bloomberg.com/news/articles/2020-04-28/australia-economy-news-deepest-downturn-in-90-years-is-coming Tue, 28 Apr 2020 01:57:31 GMT A pedestrian holding an umbrella walks along the Sydney Opera House forecourt during a partial lockdown imposed due to the coronavirus, at night in Sydney, Australia, on Friday, April 3, 2020. Australia's Prime Minister Scott Morrison said the government is close to announcing an agreement that will see rent relief for businesses hit by the coronavirus outbreak. The government wants a new industry code of practice for commercial tenancies, so any decline in revenue for a small- or medium-sized enterprise is reflected in a proportionate drop in rent they have to pay.