10 things you need to know this morning in Australia

The award for Most Clenched Teeth. Picture: Getty Images


1. New Zealand finally got around to deciding who won the election a month ago and the top job has gone to 37-year-old Labour leader Jacinda Ardern. Within 24 hours she was asked what would happen if she got pregnant. Ardern has immediately drawn comparisons with Justin Trudeau and Emmanuel Macron, but will have to make a lot of deals with the Greens and her new coalition partner party New Zealand First. And like most political parties with the name “First” in their title, that means a crackdown on immigrants trying to live in and do business with New Zealand, and a 72-year-old firebrand at the helm who told the New Zealand people of his decision before he told Ardern.

2. Here’s what JPMorgan analyst Ben Jarman thinks all that will mean for markets and economic policy. And here’s what currency markets thought:


Oof. The US dollar dove against the euro despite jobless claims hitting a 44-year low. US stocks were shaky on the 30th anniversary of Black Monday, and the Hang Seng fell on a warning about asset prices from the governor of China’s central bank. Iron ore dipped 3%.

3. What’s North Korea’s next move? If it’s an above-ground nuclear test, then it could be the trigger for war that everyone in the world apart from Kim Jong-Un and Donald Trump have been dreading. But that’s the only test left that technically makes sense. And today, Australia’s foreign minister told Fairfax the Australian Parliament had received a letter from North Korea asking it to end its alliance with the US and “the heinous and reckless moves of the Trump administration”.

4. Qantas CEO Alan Joyce got the key to his new $355 million ride:

Qantas Boeing 787 keyBenjamin Zhang/Business InsiderThe Qantas Boeing 787 Dreamliner key.

You don’t actually need a key to start a Boeing 787-9 Dreamliner, but for Joyce it represents a huge shift for his airline’s operations, which can now include the first non-stop scheduled passenger flight between Australia and Europe. Meanwhile, in Germany, a couple of pilots decided to give 200 passengers and air traffic control staff a bit of a thrill on one of Air Berlin’s final flights:

The full footage is here. Action has been taken.

5. Uber’s main competitor just got a big boost from Uber’s most dangerous enemy. Alphabet, which owns self-driving startup Waymo, which is in a court battle with Uber over IP theft, also has an investment arm, CapitalG. And it just tipped an extra $US1 billion into Lyft’s war chest, giving it a post-money valuation of $US11 billion. Here’s Lyft co-founder John Zimmer’s advice for anyone trying to start a $1 billion company.

6. Raise your hand if you’ve worked through a recession. Now look around the office and ask yourself how many people in the room would know what to do in a major downturn. This is the starting point for this week’s episode of our Devils and Details podcast, where the guest is Martin Shanahan, CEO of Ireland’s Industrial Development Authority, the agency responsible for getting foreign companies to invest in Ireland. (And if you’ve been paying attention, you’ll know the Irish are really, really good at that.) Tune in below or find it on iTunes:

7. As mentioned above, in the US, it’s the 30th anniversary of Black Monday, the day the Dow Jones dropped 22.7%. But here’s an excerpt from the Wall Street Journal about a couple of regular guys who saw the crash coming:

Picture: The Wall Street Journal

And on this day right now, US stocks got a small shake as Apple stocks fell, but Bank of America Merrill Lynch says a proper correction – at least a 10% pullback – could be here by February.

8. Richard Branson once nearly got a punch in the face at Melbourne’s Nobu restaurant. From former F1 champ Jenson Button, after Button caught Branson flirting with his then-wife Jessica Michibata. Button wrote about the incident in his new book, and said Branson gave up drinking soon after.

9. Friday learnings. Ever get the feeling people dislike you? Maybe it’s because you’re doing one, or all, of these things. Or perhaps you’re just a jerk. And here’s why paper cuts hurt so much.

10. US marathon runners are p…ed at Milwaukee Marathon organisers, who, in a classic moment that would have John Clarke smiling somewhere, made the race too short. Even better, they made it too long last year. And it could stop runners from qualifying for the Boston Marathon. Back inside, here are the Phoenix Suns off on a perfectly in-sync fast break:

Have a great weekend.

You can get 10 things direct to your inbox each morning by punching your details into the form below.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.