10 things you need to know this morning in Australia

It’s out, and Sydney is best at it. Picture: Getty Images

Good morning.

1. Up, up and away. We haven’t heard that from an airline for a while, but Qantas just released its full year results and it’s the biggest turnaround in Australian corporate history. It’s announced an underlying profit of $975 million, reversing last year’s record $2.8 billion loss. Incredible. It’s been a great year for Qantas shareholders:

2. Looking at the local market and ASX futures hint at a poor start to trade with September futures off 38 points. Yesterday’s 1.45% push higher was a remarkable turnaround, particularly for the banks which rallied hard. Equally, Chris Pash highlighted yesterday that the rally was led by energy stocks, with Santos up 3.42% to $6.04 and LNG 3.56% to $2.750. That makes last night’s crash in oil a clear and present danger to the sector and the market today.

3. Chinese stocks had a wild day, riding from down 5.1% to up 1.24% at the close. Greg McKenna says if this were a free market, the price would have fallen further and many more investors would have sold and been wiped out. The Chinese authorities don’t want that, and even though they have their training wheels on when it comes to markets, they’re doing a great job of chasing the sellers out of the market.

4. They’ve also got a massive war chest to deploy at any time they feel the Chinese economy needs it. It’s barely been opened so much as a crack, and that’s just one reason why the UK Telegraph’s double-barreled finance columnist Ambrose Evans-Pritchard says “warnings of a Chinese collapse this year will look silly by Christmas”. You can read the other reasons here.

5. Space! It’s great for news stories, but here’s a couple that have more to do with the Earth. One, which explains why astronauts age slower up there than we do down here. And this one about the company which makes the Roomba and has been trying to launch an outdoor lawnmowing version for nine years. It’s finally been approved, but astronomers aren’t happy about it at all. Here’s why.

6. Is your partner cheating on you? If you know all their email addresses, there’s an easy way to find out. Enter it at this website and it will tell you if it was one of the possibly millions of customer names and credit card details dumped online earlier this week. And according to the data, there’s about half a million of you in Sydney and Melbourne alone:

7. So yeah, Sydney wins! But it’s not the most livable city in the world. Melbourne is, and here’s 18 reasons why, according to our BI US colleagues. Including great coffee and… Jet?

8. Long-distance flights would be so much better if you could actually get a proper sleep in economy. If you think you’ve tried everything, here’s 10 tips which might help. And here’s another 16 on how to pack properly for a business trip.

9. Samsung’s next watch looks beautiful. And that’s all we’ll say about wearables for now…

10. There’s a new Joker about to fill Heath Ledger’s boots when “Suicide Squad” comes out. But Jared Leto’s tattooed maniac take on the iconic villain is just too far out there for a lot of fans. So much so, they’ve got a theory that “Suicide Squad’s” Joker isn’t actually the Joker at all. It’s someone we all know and love are fond of.

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