10 things you need to know this morning in Australia

Looking to the market reports this week and next.

Good morning!

1. Brexit. The Speaker for the UK House of Commons has put seven amendments to Theresa May’s Brexit deal to the vote. The voting began at 6am AEST and is expected to last a few hours. So far, a major amendment to delay Brexit has failed, and the pound responded by dropping immediately. Follow the latest here.

https://www.xe.comThe fall of the pound after the Cooper amendment failed to win the vote.

2. Risky business. The Aussie dollar has eased, dragged lower by an ugly plunge in Australian business conditions (which we’ll go into further below). At 8am AEST, the Aussie was down 0.21% to 0.7150. Markets could be in for a rollercoaster session. David Scutt has the full breakdown for you.

Investing.comAUD/USD Hourly Chart.

3. As promised: It’s the biggest drop in business conditions since the height of the GFC and it’s got people worried about the impacts on expenditure and growth for the year ahead. Australian business conditions have fallen to their lowest levels since 2014 and NAB’s chief economist has said that if confidence doesn’t improve “a significant portion of the decline in business conditions will persist.”

4. You’re not paranoid. Apple users are rushing to disable FaceTime after a major glitch was discovered, allowing callers to hear you even if you don’t pick up the call. A key underlying issue was the newly released group FaceTime calls. Apple is working quickly to resolve the privacy breach, but in the meantime here’s how to disable your FaceTime.

5. An RBA board member has spoken out on the cash rate. Board member Ian Harper has indicated that the cash rate will be higher based on current economic growth, despite market pricing suggesting the opposite. With a slew of RBA policy statements to be released next week, it’s likely his remarks are an attempt to reduce growing market expectations that the next move in the cash rate will be lower.

6. Huawei is in hot water. The US Justice Department has charged the tech giant with fraud and intellectual property theft. The US has alleged that Huawei tricked a global bank into violating sanctions on Iran. The FBI has dubbed the “brazen and persistent actions” an attempt to exploit American companies.

7. From flying cars to a VR theme park in the back seat. Our sci-fi future is never far away and these latest tech innovations in cars prove it. Whether it’s the race to build the perfect EV, or to transform the entire driving experience, here’s our top 10 list of car tech trends to watch out for.

The Alauda Airspeeder. Source: Airspeeder.

8. An Aussie start up has successfully raised $20 million in Series B funding. Sendle is in a prime position to compete with Australia Post, offering a cheaper, more convenient and more sustainable alternative. Sarah Kimmorley has more.

9. Porsche’s first electric car, the Taycan, will be able to receive almost 100km of range from a four-minute charge — that charging time would be the fastest available today. Tesla’s supercharging stations charge a vehicle’s battery to about 80% of its capacity in 30 minutes. Check it out:

PorscheThe Porsche Taycan.

10. What’s the difference between the NBA and Wall Street? Very little, according to Goldman Sachs CEO David Solomon. Solomon made a recent comparison between the two “highly results oriented” sports, if you will. He outlines a few key differences as well.

BONUS ITEM: A single bite from a blue ringed octopus can be deadly.

For most Australians this video sends chills down your spine as an unwitting tourist picks up a blue ringed octopus in their hands.

Be careful out there.


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