1. Talks of possible US-China trade discussions gave rise to more bullish sentiment on global markets overnight, helping to shake off some of the elevated caution that infected markets over the past week as Turkey plunged into a currency crisis (Here’s a look at the winners and loser so far). Despite a strong global lead, ASX futures are slightly lower this morning and looking longer term, Australian equity strategist Richard Coppleson thinks the market “looks like a sell”.
2. The USD fell back from its 13-month high overnight, as the major pairs gained ground in addition to EM currencies. The AUD was one of the best performers, and reached a high of 0.7286 US cents but has fallen back in early Asian trade.
3. The Elon Musk saga continues:
- Ex-Tesla employee alleges Elon Musk authorised spying on workers in bombshell SEC tip;
- Elon Musk’s tunnelling company just unveiled a plan to transport people in Los Angeles to Dodgers Stadium in only four minutes — but the timing of the announcement is curious; and
- Urban Dictionary is trolling Elon Musk with the definition of ‘funding secured’. Lol.
4. A Chinese Boeing 737 crash-landed at Manila’s Ninoy Aquino International Airport in the Philippines on Thursday evening. The Boeing 737-800 skidded off the side of the runway after landing in bad weather but no injuries were reported. The flight, which was carrying 157 passengers and eight crew members, had flown from the southern Chinese city of Xiamen, two-and-a-half hours away.
— Henry Yin Hang (@HenryYinCNA) August 16, 2018
5. Italian authorities have evacuated 630 people from their homes near the collapsed bridge in the northern city of Genoa as officials worry that more sections of the Morandi Bridge could prove unstable. Thirty-nine people have died so far, and rescuers continue to search for missing people. Here’s a look at the bridge before and after the collapse:
6. As British negotiators head to Brussels to resume two days of Brexit talks, European Union officials reportedly believe the British secret service could have infiltrated secret Brexit talks to obtain sensitive information. The fears were raised after British negotiators obtained the contents of a “politically explosive” document “within hours” of them being shared among EU officials. Meanwhile, Fitch, one of the “Big Three” credit ratings agencies, believes Brexit is now too complicated to call and has removed its base case, because “there is such a wide range of potential Brexit outcomes that no individual scenario has a high probability”.
7. Australia’s politicians have finally united, but it took a reference to one of the darkest moments in human history to make it happen. What does it say about public life in Australia? Business Insider’s Paul Colgan shares his thoughts here.
8. New Zealand has banned the sale of homes to foreigners after too many people started treating the island like their doomsday hideout, sending house prices sky high. US celebrities, including former TV host Matt Lauer and Paypal co-founder Peter Thiel, have already snapped up luxury homes.
9. This week in 1912, a newspaper printed a spot-on warning about our warming world — and we’re living in the future it predicted. It read:
“The furnaces of the world are now burning about 2,000,000,000 tons of coal a year. When this is burned, uniting with oxygen, it adds about 7,000,000,000 tons of carbon dioxide to the atmosphere yearly. This tends to make the air a more effective blanket for the earth and to raise its temperature. The effect may be considerable in a few centuries.”
Hmm. That’s a stunningly succinct explanation for how people have contributed to the warming of the Earth’s atmosphere.
10. Looking for a new morning playlist? NASA’s Spotify playlist of wake-up songs for its comatose Mars rover is excellent. The space agency’s Opportunity rover is losing the fight for its life after getting stuck in a huge Martian dust storm, but NASA hopes playing it some songs from its past will jog its memory. This classic was at the top of the list:
BONUS ITEM: This is a masterpiece — watch Brandt Snedeker dunk an astounding 160m golf shot at the Wyndham Championship on Thursday.
Have a great day.
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