10 things you need to know this morning in Australia

‘Wait, wait. I do a great Xi as well…’ Picture: Getty Images

Good morning.

1. Traders in the US don’t believe the soft inflation data and are expecting another rate rise this year. That might have been why a lot of money moved out of tech into safer utilities. The ASX was unable to find support above 5800 yesterday as the big miners were sold off heavily. There’s an interesting report out by Bloomberg which coal power could be dying for good. And despite yesterday’s great jobs news, the Aussie dollar still went into reverse.

2. “Sometimes arseholes create great businesses,” is a statement that certainly fits with an alarming number of successful Silicon Valley CEOs. But from Zuckerberg to Spiegel to the most famous bastard of all, Steve Jobs, they also share another trait – they’re irresistible to investors. Uber, however, seems to be trying to break out of the mould, and Alyson Shontell has spoken to a bunch of authors and investors about whether they think the tech industry is finally ready to take the “No Arsehole Rule” seriously.

3. Maybe Evan Spiegel needs to rediscover that brat who kicked his friend Reggie Brown out of Snapchat just after it launched. His company, Snap, has been on a steady decline one day after its IPO, and is now back at its launch price:

And early investors are locked out of selling for another five weeks. Also tumbling is Bitcoin.

4. Australia’s journos are collectively holding their breath for the US President to please notice the fact their PM did a Donald Trump impression. But Trump just keeps tweeting about Russia and Comey and Crooked Hillary:

Turnbull this morning said it was all just japes. In other great impressions, Bill Cosby just left court after four days of a jury not being able to decide if he was guilty, and again stuck to his official response:

5. Also don’t hold your breath waiting for Trump to be impeached. It took a special counsel 2978 days to investigate Bill Clinton’s Whitewater real estate deals and the Lewinsky scandal. Across 15 other similar investigations, it took an average of 904 days to reach an outcome.

6. Podcast! The monthly Australian jobs data smashed expectations yet again yesterday. The economy added 42,000 jobs in May, blowing away the 10,000 expected by economists. It followed strong data in previous months, too. Can we start calling it a trend? To discuss it all we were joined by economist and labour market expert Justin Fabo of AlphaBeta Advisory on this week’s episode of the Devils and Details podcast. You can find it here on iTunes, or listen in below:

7. Head-swap doc Sergio Canavero has done it again. This time he claims to have lopped the heads off nine mice and, using a new type of glue, stuck their heads back on. Canavero says they were walking 28 days later. But then they all died.

8. The hottest stock in London right now is socks-and-sandals Labour leader Jeremy Corbyn. He’s as popular right now as Theresa May was before she called the general election, and she’s now as unpopular as he was then. They both visited the scene of the Grenfell disaster yesterday, and while Corbyn hugged people, May failed to engage. “She was s..t,” one chap noted. The death toll nows stands at 17 and a full public inquiry has been called.

9. Here’s a tweet that went out just before the US Open started:


Here’s a reply from someone “lucky enough”:


Only the pilot was on-board. He was seriously injured, but “alert and conscious” as he was taken to hospital, unlike French pilot Bruno Vezzoli, who made it across the English Channel in a flying car.

10. Gas Turbine Systems Technician (Mechanical) 3rd Class Peter Mims was thought to have fallen off the USS Shiloh roughly 290km east of Okinawa, Japan on June 8. After three days of searching by both US and Japanese navies, he was presumed dead. But today his family were no doubt pleased to learn he’d just been hiding in one of the ship’s engine rooms.

BONUS ITEM: Welcome back, Rory McIlroy. Heads up, guys on the hidden green:

Have a great weekend.

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