10 things you need to know this morning in Australia

Warner Bros.There’s something fishy about the new Aquaman poster.

Good morning.

1. Google has been fined a record $US5 billion by the EU for abusing the dominance of Android. It’s the biggest antitrust fine given by Europe’s competition regulator against a single firm. Google says it would appeal the decision. Here are the 3 reasons the internet giant was slapped with an enormous fine, and how Android will likely change if the ruling against Google stands.

2. Federal Liberal MP Craig Kelly has angered colleagues after suggesting on Sky News, in reference to the shooting down of MH17, that misdeeds by Russia might need to be “looked over” for the sake of stability. Kelly said it was best if US President Donald Trump and his Russian counterpart Vladimir Putin had “a good talking relationship”, adding “if that means some of the things that Russia have gotten away with in the past have to be slightly looked over, well, I’m sorry, that’s the price that we have to pay sometimes to have good relations going forward.”

Kelly has since apologised and claimed he was taken out of context. Here’s the clip:

Kelly was asked about Trump not confronting Putin after the father of the three Maslin children who died on board MH17 expressed his anger for Trump’s apparent appeasement of Putin. “It’s not anger that I feel towards the two of you, its something much, much worse,” Maslin said of Trump and Putin. “It’s pity. You have no empathy for your fellow man, and you clearly have no idea what love is. So you have nothing.” Evie, Mo, and Otis were 10, 12, and 8, respectively, when they died.

3. It’s jobs day. Australia’s jobs report for June will be released at 11.30 AEST. While the labour force survey has always been one of Australia’s most important data releases, its influence has perhaps grown this year given the Reserve Bank of Australia (RBA) is relying upon it to achieve many of its policy objectives. Looking for a rundown of what to expect? Check out David Scutt’s 10-second guide to the report here.

4. The Australian dollar remains choppy and range-bound, falling in Asian and European trade on Wednesday before climbing sharply into the close. The whippy price action is not all that unusual, or unexpected, given many in the northern hemisphere are currently on holidays at present. At 7am AEST, the Aussie was up 0.14% to 0.7396.

Investing.comAUD/USD Hourly Chart

5. The rescued Thai soccer team have left hospital for the first time since being saved more than a week ago. The 12 boys and their soccer coach attend their first press conference which was decorated like a soccer pitch. Here’s footage of the team, who have since fully recovered.

6. Trump’s tariffs continue to play out. The American manufacturers most affected by Trump’s tariffs on imported goods are worried about their future, according to the US Fed’s Beige Book, which compiles anecdotes on business activity. Many manufacturers said US trade policy had driven up their costs and disrupted supply. That comes as Trump threatens Europe with “tremendous retribution,” unless European Commission President Jean-Claude Juncker offers major trade concessions next week. Meanwhile, here’s what a US-China trade war would mean for the Australian economy.

7. Forget hikes. Westpac’s leading index suggests there’s a greater risk the RBA will cut rates. Despite the RBA thinking the Australian economy’s growth will likely continue over the next couple of years, Westpac’s indicator paints a very different outlook, pointing to the likelihood that growth will slow sharply in the second half of 2018. More here.

8. Jeff Bezos’s rocket company Blue Origin just pushed the reusable New Shepard rocket to its limits — and it went flawlessly. The rocket was being tested unmanned for the ninth time and performed a “high altitude escape motor test,” the company said on Twitter, simulating a high-altitude emergency scenario by igniting the escape booster on the bottom of the passenger, or in this case, payload capsule. It’s a situation that would only occur if the passenger capsule needed to boost away from the rocket booster in case of an emergency during launch. Watch it here:

9. It’s tax time and this year the ATO is coming after those who fudge their annual returns by claiming expenses that have nothing to do with work. To avoid getting red-flagged by the tax office, Liz Russell, senior tax agent at Etax.com.au has provided Business Insider with a list of ways to ensure your tax return is up to scratch, preventing any nasty penalty fees or interest charges.

10. Aquaman versus Finding Nemo. The first poster for the coming “Aquaman” movie was released earlier this week. Directed by James Wan, it will be the latest “Justice League” spinoff. But the poster, which features Jason Momoa perched on a rock in the ocean with an army of sea creatures behind him, has been roasted on social media with many comparing it to “Finding Nemo.”


There’s nothing like the gentle sounds of Pachelbel’s Canon in the morning.

Have a great day.

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