10 things you need to know this morning in Australia

Ian West – PA Images/PA Images via Getty ImagesBorat.

Good morning.

1. Donald Trump met with Vladimir Putin overnight. During a press conference following the high stakes meeting, the US President indicated he believes Russia over the US intelligence community when it comes to the Kremlin’s meddling in the 2016 US election. When asked whether he would publicly condemn the Russian president for his country’s interference, Trump proceeded to bash the Democratic National Committee, the FBI, and the 2016 Democratic presidential nominee, Hillary Clinton. He said that while he had “great confidence” in the US intelligence community, Putin was “extremely strong and powerful in his denial”. Republican lawmakers have condemned Trump’s statements, and some former government officials and intelligence veterans suggested his remarks rose to the level of treason.

2. A yawn-fest, that’s how Business Insider’s David Scutt described the Aussie overnight. The Australian dollar traded in a thin range on Monday, venturing lower, then higher, before losing ground again. Despite some major economic releases, it continued to take its cues from movements in the offshore traded Chinese yuan. The scoreboard as at 7am AEST tells the story.

AUD/USD 0.7419 , -0.0004 , -0.05%
AUD/JPY 83.29 , -0.05 , -0.06%
AUD/CNH 4.9721 , -0.0067 , -0.13%
AUD/EUR 0.6334 , -0.0022 , -0.35%
AUD/GBP 0.5603 , -0.0005 , -0.09%
AUD/NZD 1.0941 , -0.0011 , -0.10%
AUD/CAD 0.974 , -0.0025 , -0.26%

3. Elon Musk. Where to start? The Tesla/The Boring Company/SpaceX founder and CEO is at the centre of an astonishing number of bizarre news stories and public feuds — the latest being he called a British diver from the Thai cave rescue a “pedo guy”. Musk was responding to criticism from British caver Vernon Unsworth, who told CNN that Musk’s kid-size submarine was a “PR stunt” and he “can stick his submarine where it hurts.” The diver is now considering taking legal action against Musk over his remarks. Here are some of the other unusual moments Musk has had in the spotlight recently.

4. Bitcoin rose by almost 5% to around $US6,650 after global asset manager Blackrock said it was looking into blockchain and cryptocurrencies. It follows a report by the Wall Street Journal that hackers have stolen more than $1 billion from cryptocurrency exchanges this year alone. The biggest hack this year took place on Coincheck, a Japanese-based exchange which had more than $US500 million worth of crypto stolen in late-January.

5. Amazon Prime Day continues! And we’re rounded up some of the best deals in Australia right now. Hurry, the sale ends at midnight tonight. Things didn’t go as well in the US, where the site crashed and customers are threatening to cancel their Prime memberships.

7. Woolworths’ and Coles’ ban on plastic bags created unforeseen controversy this earlier this month. While it has been applauded by environmental groups, others have attacked the supermarkets with claims of profiteering. For those who haven’t been able to understand the anger behind the ban. Here’s a breakdown of the psychology behind the thinking.

8. Doctors are urging people not to opt out of Australia’s new online health records system, My Health Record, which is capable of storing your entire medical history. But privacy experts say a data breach of the system is “inevitable” with more than 900,000 people in the sector able to access the information. People have until October 15 if they want to opt out of the system. Simon Thomsen has more.

9. CEO pay has surged to record levels in Australia. A new report has found that reported pay for ASX100 CEOs is the highest it has been in the 17 years. Median realised pay for an ASX100 CEO rose 12.4% to $4.36 million and was up 22.1% to $1.76 million for ASX101-200 CEOs. It says the large bonuses, being paid for hitting targets rather than any exceptional performance, show companies aren’t heading the expectations of communities and investors.

10. Remember Borat and his fluorescent green mankini? Well, he’s back, but this time he’s duping a handful of US politicians for his new Showtime series “Who Is America?” And Hollywood celebrities are loving it. Everyone from Jimmy Kimmel to Jordan Peele to Russell Crowe have applauded the show. See the trailer here.

Have a great day.

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