10 things you need to know this morning in Australia

Ackackackacka-clickclickclick. Picture: U.S. Marine Corps/Cpl. Brian Burdett/Released

Good morning.

1. NAB chairman Ken Henry was not surprisingly unimpressed with the federal government’s $6.2 billion bank tax, and said so, even calling for a public inquiry into it. So yesterday, on Adelaide radio, Prime Minister Malcolm Turnbull accused Henry of “talking his own book”. Here’s what that insult means in markets.

2. To markets, which barely moved in the US overnight, but the big news this week is the continued slide of the US dollar. The Aussie dollar is higher as the selloff in the greenback gathers pace. Iron ore futures ripped higher overnight and SPI futures traders have the local market little changed. Key data releases today are likely to drive capital flows – we have the bad news about your wages hidden down a bit lower.

3. This is wonderful:


That’s the Marines’ variant of the JSF, the F-35B, running and gunning for the first time. It’s only taken decades and billions of dollars to get it to this point and you’re probably wondering why you don’t get to see all the bullets hitting the water in a line like what happens in movies. That’s because it’s waiting on the all-important “How to Aim” software update.

4. The latest “embarrassing gaffe” from US president Donald Trump is already 24 hours old, so while we wait for the next headline, you get to choose who you want to believe:

Decisions, decisions. Much better for your mental health would be taking a minute to watch this video of all the paint getting burned off Virgin’s iconic red aeroplanes. But if you’re really into all the fake news diversity in media choices right now, anti-Trumpers are flocking to their own version of Infowars. It’s called the Palmer Report and hey, fill your boots, kids, whatever.

5. “No matter what you throw at him, it hasn’t worked,” filmmaker Michael Moore said about the president whose victory he predicted when no one else did. “No matter what is revealed, he remains standing. Facts, reality, brains cannot defeat him.” And that’s all true. The reality nobody seems to want to face is that Trump is simply a better player than anyone trying to bring him down. “That,” Moore said today, “all ends with this movie.” He’s talking about his new release, “Fahrenheit 11/9”, which hasn’t got a release date yet.

6. Colonel Sanders’ nephew, Joe Ledington, said it was his job as a kid to mix the “secret recipe” of herbs and spices in large batches for Kentucky Fried Chicken. And he recently told the world what it is, so here’s how to make KFC’s original fried chicken, and yes, you’ve got pretty much all of the ingredients in your cupboard right now.

7. Here’s something that matters – your wages. And if all the numbers stack up from the various other data releases, it looks like CPI will have outgrown WPI over the past year. Put simply, you’re slowly getting poorer.

8. A new study of images from the Mars Reconnaissance Orbiter’s HiRISE camera has one group of researchers excited about the possibility that the Red Planet once looked a bit like this:

Chris Bickham/Flickr (CC BY 2.0)A desert canyon on Earth.

Here’s why they say we need to think a bit longer about where to land the next lander.

9. New stuff is coming. From Apple, which is reportedly prepping three new laptops to launch its annual WWDC conference next month. Over at HP Enterprise, a prototype of the much whispered about “The Machine” is live. HPE has been flagging the “new kind of memory” since 2014, which it claims can create a computer able to handle 4096 yottabytes of data. That’s about 250,000 times all the data currently stored in the world. Meanwhile, HTC has a new phone that takes a selfie when you squeeze it.

10. IBM stocks took a hit recently when its biggest believer, Warren Buffett, sold off a third of his 81 million shares. But Morgan Stanley says that’s just primed IBM stock for a 40% pop later this year when it’s due to ship a new mainframe. And Twitter got another boost today when Biz Stone announced he and Jack Dorsey could be friends again and rejoined the company after a six-year absence.

BONUS ITEM: Get away from it all with the best POV spacewalk ever filmed:

Have a great day.

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