1. No deal. The much-anticipated meeting in Doha over the weekend to freeze global oil production came to nothing. The Saudis said they won’t budge until Iran joins the freeze and Iran won’t join the freeze because it hasn’t made any real money yet after the lifting of sanctions allowed it to return to the market. And investors wouldn’t have missed deputy Crown Prince Mohammed bin Salman telling Bloomberg that Saudi Arabia could almost double its daily output tomorrow with investment. If he wanted it to.
2. Here’s what that did for oil prices:
The Australian and Canadian dollars have come under heavy selling pressure as traders bet that the fallout could see a big fall in crude and likely a big move in stocks. Miners are suddenly under pressure again, as are the banks that back them, and with SPI200 June Futures pointing to a 0.1% rise Friday, it could be an ugly day on the local.
3. So yeah, data. Traders will be getting all het up about the RBA minutes tomorrow and the NAB’s bigger quarterly Business Survey Thursday. China is quiet but NZ CPI is out today, and dairy auctions Tuesday. And we know how much Kiwis love a good dairy auction. Read about it all in Greg McKenna’s weekly diary.
4. Malcolm Turnbull better get to a federal election, pronto. His problems are mounting, not the least of which is the fact he’s now getting smoked in the polls.
5. Trim your resumé. Online specialists Novoresumé reckon you can fit everything a potential employer needs to know on a single page. To prove it, they created a one-page resume for the world’s biggest overachiever – Elon Musk. Here’s what it looks like.
6. A blog about travelling on the subway might sound dull, but it wasn’t for Tasmanian adventurer Elliott Davies. He found himself among a group of some of the first foreigners given access to all stations across both lines of the Pyongyang Metro. Up until recently, tourists were only allowed to get on and off at two stations, after taking the four-minute descent 120 metres down into the nuclear blast-proof underground. Two quite lavish stations:
7. “Grant Hackett took exception to the reclining of the seat,” would have been a much better quote if it came from Grant Hackett. But it was Ray Hadley off 2GB reporting that the swim champion had been taken into custody after stepping off a plane at Melbourne yesterday. No charges have been laid – yet – and the story got a little more bizarre this morning after the passenger claimed Hackett’s assault was sexual.
8. Parents are redundant? Faced with asking thousands of friends and millions of experts on the internet, millennials are finding the internet is the best set of parents they could ask for. There’s something in this thought-provoking piece from Chris Weller to offend every generation.
9. We got an inside look at a members-only marijuana social club in California wine country. Here’s what it’s like to meet up with loads of other afficionados and sample different strains of marijuana for medicinal purposes.
10. What does it look like when you attack a $513,000 Mercedes Maybach limo with an assault rifle? It looks like money well-spent.
BONUS ITEM: Come back LeBron James. The shot didn’t go in:
Another example of the greatest thing to happen to the NBA this year, as players try to emulate the Warriors before realising they don’t have Steph Curry doing the shooting:
Fortunately for James, the Cavs still went 1-0 up in their playoffs against the Pistons.