10 things you need to know this morning in Australia

Champion. (Photo by David Ramos/Getty Images)

Good morning!

1. The greatest. Roger Federer won his eighth Wimbledon singles title overnight. At 35, he’s the oldest man to win the championship, and it brings up a stunning 19 Grand Slam titles for the Swiss legend. It’s a long way back to the next player on that measure — Rafael Nadal has 15 titles to his name, while Pete Sampras has 14. Federer beat Croatia’s Marin Cilic, who was struggling with an injury, 6-3, 6-1, 6-4. Check this photo of the winner’s board at Wimbledon:

2. After the smartphone. As hard as it may be to imagine, there’ll eventually come a time when smartphones are laughable relics of a bygone technology age. The world’s tech giants are in a race now to find a way to kill it off — we are in the early days of the next phase of computing driven by AI and VR. The thing is, having missed the smartphone boat, now the likes of Facebook and Amazon are racing to try and kill off the smartphone. Matt Weinberger has more.

3. In the meantime, the iPhone 8 comes out later this year, and the rumours are all pointing to it costing an eye-popping $US1,000 or more, meaning it could be at least $1,250 in Australia. This means it pushes iPhone even further along the spectrum as a luxury product, but it’s questionable if its rumoured features — many of which are available on the new Samsung S8 range — will be worth the cost.

4. To markets, and the Australian dollar has surged to its highest level since June 2015. It follows more disappointing data out of the US on Friday night. Here’s the weekly chart:

Source: Investing.com

Whether the Aussie’s upward momentum can be sustained will likely be determined by the release of major Chinese economic data during Monday’s session, including Q2 GDP. Markets are looking for an increase of 6.8% year-on-year, down from 6.9% in Q1.

5. To the week ahead, and China’s big data dump mentioned above kicks off a busy week for Australian traders. We get new car sales tomorrow as well as weekly ANZ consumer confidence, and there’s also the RBA board meeting minutes tomorrow. On Wednesday there’s the Westpac leading index, and on Thursday there’s the monthly jobs data. Sam Jacobs has the full diary here.

6. Cryptocurrencies are getting smashed. Bitcoin is back below $US2,000 for the first time since May 17, making it now almost 40% lower from its all-time high in early June. Here’s the chart showing it trying to keep its head above water:

Source: Investing.com

Meanwhile, Ethereum lost around 25% in value just over the weekend. The price of an Ether token dipped below $US140 overnight, before coming back a bit.

7. It’s Monday morning — let’s talk insurance. Disruption and deflationary forces (read: cheaper premiums) in the vast insurance industry don’t grab much by way of headlines, but the applications and opportunities provided by AI, location tracking, and digitisation are starting. Damien Mu is the CEO of AIA, Australia’s second-largest life insurer, and he spoke with BI about how he sees the industry changing, including the challenges with default insurance practices within superannuation funds.

8. Business challenges. It can be challenging for entrepreneurs to get their heads around the applications of mega-themes such as big data and changes in government policy to their own specific needs. We’ve put together a short e-book packed with insights and guidance for any small business across a range of big themes for the coming year. You can download it using the form on this page.

9. The 13th Doctor Who will be played by a womanJodie Whittaker will replace Peter Capaldi in the role, the BBC announced overnight. About time.

10. The cost of a housing slowdown. Deloitte has a warning for the state economies in NSW and Victoria, which have seen huge benefits from rising house prices over recent years. “A house price boom borrows growth from the future, and both NSW and Victoria will have to pay back some of their current prosperity in the years ahead as housing prices gradually reconnect with reality,” the professional services firm says in its latest business monitor. More here.

BONUS ITEM: A heckler had some suggestions for Kim Clijsters during a doubles match. It escalates quickly — the rather large guy ends up wearing one of Clijsters’ skirts on the court trying to return her serve.

Enjoy your Monday. I’m on Twitter, and you can get this column delivered to your inbox each morning by punching your details into the form below.

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