10 things you need to know this morning in Australia

‘We’re sorry Mr Alli, it’s too late to change your seat number.’ Picture: Getty Images

Good morning.

1. Keep an hour free on Saturday, July 2. It’s now all but confirmed you’ll be going to the polls. Yesterday, the Senate took just an hour to reject Malcolm Turnbull’s plan to reintroduce Australian Building and Construction Commission (ABCC) legislation, 36-34. That gave Turnbull the ability to call a double dissolution election in line with his bringing the federal Budegt forward one week to May 3. And because it’s a double dissolution, all senators will be up for election rather than just half of them. Here’s why that move plays right into the PM’s hands.

2. To markets, where business is good. The Dow closed above 18,000 for the first time since July last year and the S&P 500 broke up and through the trendline which has been capping its gains recently. Even oil made a bit of a rally last night, pushing up above $40 a barrel. (Gary Shilling still chimed in to remind us he reckons it’s heading for $10.) That sets the ASX up for a solid day today with the June SPI200 futures up 53 points, 1%.

3. The Aussie had a spectacular day and hit a high of 0.7758 overnight. Greg McKenna reckons there’s a case for it roaring to 81 cents. It’s complicated, but he says because the Argentinian bond sale has received $70 billion in bids for a $10-15 billion sale, the banks have been able to tighten the terms of the deal, and the bid back in financial markets will underpin the Aussie dollar. So all eyes on RBA minutes at 11.30am and a speech from RBA governor Glenn Stevens in New York at 11.30pm.

4. Netflix is… good. It’s great if you’re a US subscriber, where you get access to nearly 6000 instant titles. But not so much if you live outside the Americas, where you’ll get half as much, or in Australia, where you get just over a third of that. That’s why the streaming giant just missed its Q2 international subscriber growth targets by a country mile, and stock is plummeting. And here’s why Netflix is blaming Australia and New Zealand for that.

5. This is about 2 parts comical, 3 parts could have been tragic:


Heavy rainstorms led to severe flooding in Texas this week, and it’s clear the poor guy is in some sort of shock after being caught out, given he simply stands and says “Huh?” a lot after being told to swim for his life. Fortunately the reporter isn’t the type to stand and gawk. Although he doesn’t miss the shot at getting the live-est interview of his career.

6. Believe it or not, there are worse seats on a plane than the one in front of Grant Hackett. Here’s how airlines are cashing in on your misery, and why crappy seats are getting harder to avoid.

7. Go on, say it – you hate Minecraft. Specifically, the battle you have with your kids when you tell them it’s time to walk away from Minecraft. So you probably don’t want to read the New York Times’ lengthy “The Minecraft Generation”, which tells how Minecraft’s steep learning curve, combined with its deceptively complex systems, are actually a benefit for your kids.

8. Having a bad day? At least you’re not Tottenham midfielder Dele Alli, who hilariously missed one of the most open goals since, well, ever:

9. Here’s some interesting analysis of the March jobs report which confirms the workforce in Australia is “casualising”. There’s been a big spike in part-time jobs and part-time job searches. A lot of it is women getting back into the workforce. Greg McKenna reckons part-time job love makes everyone a winner.

10. How the tables have turned. Yellow Pages, which still exists, is considering buying Yahoo. Huh.

BONUS ITEM: The actual moment Mexican volcano Popocat├ępetl violently erupted:

Now it’s a gusher, and you can watch it live.

Have a great day.

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