10 things you need to know this morning in Australia

Source: Getty.

Good morning!

1. Samsung Galaxy Fold phones are reportedly breaking. Reviewers say the cracks are showing on the new folding phone with some of the units breaking on the first day of use. The phone costs nearly US$2000 to buy. Samsung is yet to publicly comment on the reports.

2. Blackmores and the daigou. A falling out between Blackmores and the powerful Chinese personal shoppers, daigou, seems to be hitting the company’s bottom line, hard. The new CEO is working hard to turn that relationship around before there are serious long term impacts.

3. Hey, big spenders. Spending in Australia has risen this quarter, with Commonwealth Bank’s Business Sales Indicator (BSI) showing the fastest increase in a year. The sharp bounce suggests that we’re building business confidence and this might just help sway the RBA.

4. China takes back the reins. China’s latest economic data showed faster growth than anticipated, increasing by 6.4%. Beijing has been introducing stimulus measures to boost growth and they seem to be taking effect. The full list of indicators include industrial output, real estate investment, retail sales and more.

5. Facial recognition software is throwing us into a sci-fi future. But will it be utopian or dystopian? As the technology nears perfection it is being implemented for security measures from your iPhone to the airport but it’s time to make sure all the right regulations are in place.

6. Pinterest has been slowly acquiring other companies over the past few years. Pinterest has now set its IPO at $US15 to $US17 a share. Its valuation would then be maxed out at $US11.3 billion.

7. Netflix burning cash. Netflix has forecast its spending will hit U$3.5 billion this year, up US$500 million on earlier predictions. Their long-term debt is currently $US10.3 billion, up from $US6.5 billion at the end of the first quarter last year.

8. Notre Dame had firefighters working for nearly nine hours before they were able to control the blaze. Many relics were saved, but much of the cultural and spiritual icon were destroyed. Here’s the full timeline of events.

9. Pack your bags! Afterpay is cracking into travel territory, launching a new platform called Play. It allows customers to pay off a packaged holiday in weekly or fortnightly installments before their holiday. Watch out for those late fees though.

10. Health tech’s newest targets. Microsoft’s Chief Medical Officer is targeting these areas as one’s with great potential growth over the next few years. These new tech developments will see assistance for chronic medical disease and more personalised care.

BONUS ITEM:
Look no further. We’ve found your dream home.

This marketing clip from LJ Hooker Bankstown in Sydney’s Western suburbs is going viral and we can see why.

Check out the twitter reactions and bonus Dirty Dancing cover here.


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.