10 things you need to know this morning in Australia

Sergei Savostyanov/TASS via Getty ImagesDenmark’s goalkeeper Kasper Schmeichel heads the wrong way as Australia’s Mile Jedinak scores the equaliser from a penalty shot in the World Cup. Australia’s second group stage game was a 1-all draw.

Welcome to Friday.

1. Intel’s boss resigned. CEO Brian Krzanich stepped down overnight, following 25 years with the chip maker, over a “past consensual relationship with an Intel employee” in violation of company policies. During his five years in the top job, Intel’s share price more than doubled from $US23.95 in May 2013, to $US53.46 this week, before falling 2.5% on news of his departure.

2. Dow in the dumps. US stocks were down for an eighth straight day amid lingering trade tensions. The Dow Jones industrial average slipped -0.79% overnight. The US dollar and Treasury yields also fell, and oil prices slid as OPEC closed in on an agreement to raise output. Iron ore spot markets fell again on Thursday, with price for benchmark 62% fines down 5.3% over the past three sessions, but the Australian dollar’s losing streak appears over.

3. Shares in Amazon and Etsy fell, along with those of other online retailers after the US Supreme Court ruled that states could collect on digital sales. The 5-4 ruling is widely seen as a victory for brick-and-mortar stores. Here’s what the decision means for Amazon.

4. Melania’s rostered on for today’s daily dose of Trumprage. The First Lady boarded a plane to Texas to visit immigrant children in detention wearing a $US39 Zara jacket with “I really don’t care, do u?”. Cue howls. One school of thought argues it’s a brilliant political move, but then it didn’t take long for Trump to contradict his wife’s spokeswoman and say the first lady’s jacket had a message. But while everyone bickers over a cheap coat, there’s no evidence the Trump administration has reunited any of the immigrant families it separated yet — or even has a real plan to.

5. Now for company tax. After yesterday’s impressive victory by the Turnbull government to get its Budget centrepiece – $144 billion worth of personal income tax cuts – through the Senate thanks to crossbench support, attention during the final week of parliamentary sittings before the long winter break turns to the $50 billion company tax cut plan, thus far stalled in the Senate. Malcolm Turnbull said this morning that it will go to a vote in the Senate next week. Meanwhile, if you’re wondering how much you’ll have to spend from next month, here are the details.

6. Debt-trap diplomacy. Business Insider’s Associate Global News Editor Tara Francis Chan detailed the extraordinary encounter Channel Nine current affairs show 60 Minutes had with the Chinese embassy in Canberra as it prepared a story on how the Asia giant is investing in the Pacific using what’s known as “debt-trap diplomacy”. Think of it as geopolitical loan sharking. For example, Vanuatu accepted a loan with exorbitant interest rates for a Chinese-built wharf and may need to hand it over to China if the island nation defaults. There’s more here.

7. Where’s Tim? After last night’s 1-all draw against Denmark, Australia needs to beat Peru and rely on France to smash the Danes to now have any chance of making it through the group rounds. Tim Cahill didn’t get a run, to the annoyance of fans, because the Socceroos delivered more meaningless crosses than Hobart’s Dark Mofo. Mat Leckie was relentless, and Australia had its chances for a win but just couldn’t get the ball across the line again after Mile Jedinak scored the equaliser from a penalty shot in the first half. But gee, how good does Daniel Arzani, at just 19, look?

8. Coffee? Coffee’s back on the bad good for you list, with German researchers thinking about four shots’ worth of espresso a day is about right for optimal heart health. Guys, now you’ve got that sorted, get onto how good cheese is for us, please?

9. It’s a girl. New Zealand’s population increased by one yesterday when PM Jacinda Ardern and first bloke Clarke Gayford had a baby girl weighing 3.315kg, three days before her due date. Tēnā koe (Maori for welcome) little one and congrats to all. Ardern, 37, is just the second national leader, after the late Benazir Bhutto of Pakistan 28 years ago, to give birth while in office. More importantly, she’s the first to take maternity leave, having the next six weeks off. Incidentally, New Zealand is about to introduce 26 weeks of paid maternity leave.

10. The pain coming for Sky and TV stations. Business Insider surveyed 104 US teens, and just 2% of Gen Zs said cable is where they prefer to watch video content. Nearly a third said YouTube is their most-used source, and 62% say streaming, including Netflix but excluding YouTube, is their most-used. Cable TV – think Sky in Australia – is largely as a means of bonding with family, the news, or falling asleep. We’ll let you choose which Sky shows are best for that last outcome.

BONUS ITEM: Think you’re having a bad day? At least you’re not Argentina’s goalkeeper, Willy Caballero. Messi’s team went down 3-0 to Croatia and the football powerhouse looks increasingly like spending July on holidays.

Shoot some goals, keep the opposition’s out and we’ll see you Monday.

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.

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

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