10 things you need to know this morning in Australia

Today’s 10 things you need to know are brought to you by Tower One, International Towers Sydney. Physical fitness may be the secret to fast-tracking your climb up the corporate ladder. Find out how the working environment can deliver a performance boost for individuals and organisations alike.
Go ‘Straya. Picture: Getty Images

Good morning.

1. P.J O’Rourke is in the country. And because the vetaran satirist and best-selling, prize-winning author has been writing about wars, economies and politicians for the best part of 40 years, he seemed like someone who’s in a great position to make sense of the world right now. So our editor Paul Colgan sat down with O’Rourke and in return, he gave us this wonderfully wide-ranging and entertaining interview. Grab another coffee – it’s all here.

2. You may get a rate cut tomorrow, but doesn’t it really make any difference? No, says Joanne Masters, senior economist at ANZ. She told us all that does these days is help us pay down our mortgages a little bit quicker, unlike the good old days when we all used to rush out immediately and buy a new telly and give the economy a much-needed boot up the date. Masters also said loads of other interesting stuff and you can catch it all on our latest “Devils and Details” podcast on iTunes, or here:

3. What did you do on the weekend? Jump 7600 metres out of a plane without a parachute and land in a giant net? ‘Course you didn’t. But 42-year Luke Aikins did:


Here’s how that worked out for him.

4. Markets. They’re still trying to deal with being stuck between the Bank of Japan doing nothing on Friday and wondering when it’s going to do something big soon. That’s put the US dollar under pressure, and combined with a weaker than expected US Q2 GDP, has driven the Aussie dollar up near 76 cents this morning. But the S&P kept pushing onwards and upwards, in turn giving a leg-up to the SPI 200. It’s up 17 points right now, so all’s well today.

5. This week in data is a biggie, because it’s got RBA Rates Day in it. And it’s a line ball decision, so anything can happen after Tuesday. Internationally, China’s PMIs are out today, then the Japanese Fiscal Stimulus plan Tuesday. And in the US, ISM Manufacturing Monday and Payrolls drop on Friday. Don’t miss any of it by sneaking a peek inside Greg McKenna’s data diary here.

6. Oh, Texas. Today is something of a landmark day for Texan university students. Their Campus Carry law goes into effect, and yes, that means kids young adults can carry concealed weapons to school. It coincides with the 50th anniversary of America’s first mass murder on a university campus.

7. We don’t have a Pokemon update for you today, but we do have an update on how useless Rio is at making Olympic Games. The sailing venue got all smashed up by three-metre waves, just five days out from opening:

Picture: Getty Images

And remember when we said we didn’t have a Pokemon update for you today? We lied. Hilariously, it’s been revealed that Rio doesn’t have any:

8. Kevin Roberts is chairman at ad agency Saatchi and Saatchi, which, like most advertising companies, is struggling to deal with the issue of gender parity. Women make up 46.4% of the advertising industry, yet only 11.5% of creative directors within ad agencies are female. So when BI met with Roberts in London and started a conversation about gender parity, it was surprising to hear him say “the f..king debate is all over”. Wait, did we say Kevin Roberts is chairman at Saatchi and Saatchi? Kevin Roberts was chairman at Saatchi and Saatchi – he’s been placed on indefinite leave by parent company Publicis as a results of his comments to BI.

9. BI helping you. If you own a business, it’s fair to assume you have a business plan. But do you have a technology plan? Sorry, there’s no avoiding it, so add it to your list and start working on it now. Luckily, we’ve got the 5 most important things you’ll need to keep in mind, from 5 people who’ve implemented extremely successful technology plans.

10. Those little bags of silicon beads you find in shoe boxes and camera bags are probably most well-known for making mums all over the world scream when they’re seen heading into a baby’s mouth. But they’re actually really, really useful. Keep them out of harm’s way and you can use them to defog your car windscreen. And all this other stuff.

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