Australians spent $350 billion in the shops last year, and the biggest surge came in purchases of alcohol, while people held back on buying new clothes. 

 Also today:

• Share markets in Australia and the US record their best week in months. 
• Canberra claims Google has backed down on its threat to quit Australia.
• And expats to come home as the states ramp up the quarantine system.

Plus an interview with Matthew Kidman from Centennial Asset Management about the upcoming earnings season, and what to expect.