10 things you need to know this morning in Australia

Today’s 10 things you need to know are brought to you by Tower One, International Towers Sydney. The new Barangaroo precinct has quickly become the envy of CBD workers around the country. Discover the top 5 things that make Barangaroo the best place to work in Sydney.
Welcome back. Picture: DC/Warner Bros

Good morning.

1. Markets had a good week, with the S&P 500 closing Friday at an all-time high. Even the ASX rallied 500 points to a 5531 high, but looks like sagging a little with ASX SPI Futures managing just a 4-point rally in Sycom trade. Blame Asia concerns and a huge data flow this week making everyone a bit edgy. The Aussie dollar broke a two-month uptrend and is under pressure at 0.7462 this morning, while iron ore resumed its slide to make it seven down days out of eight.

2. To data, where July is different. That’s because there’s a raft of super important releases coming up to close the month out, rather than typically ending on a whimper. Get excited for Wednesday, where locally we’ll get Q2 CPI and along with it, a strong hint about a possible rate cut in August. At the moment, the market’s pricing in a 69% chance of that happening. On the same day, we’ll get UK Q2 GDP, US Durable Goods and the FOMC announcement, where there’s also a good chance the Fed will signal the next meeting in September is live. Japan lifts off Thursday, with the release of CPI in the run up the BoJ meeting on Friday. It’s all here in Greg McKenna’s diary.

3. And the Russians are back in the Olympics. The cash was just too much to lose for the IOC, so they’ve given the nod and bravely left all the bans up to the discretion of the organisations running the individual sports. Meanwhile, the Aussie athletes are outraged at their rooms. They arrived to find these kind of living conditions:

Picture: Getty Images

But couldn’t believe their eyes when the beds in the 31-building Olympic complex were this close together:

Picture: Getty Images

Obviously, they’ve all moved into hotels until the toilets are unblocked and that – ugh – fresh paint smell is gone.

4. In other sport farces, Anthony Mundine and Danny Green have reportedly struck a deal to fight again, 10 years after their memorable clash in Sydney. Each fighter will reportedly get a purse of up to $10 million and Mundine wants the fight to take place at Uluru. He promises it will be his last.

5. There’s a new way to learn maths – from a Chinese teacher. It’s called the “mastery approach” and 30 Shanghai tutors were flown to the UK last year to start a four-year program to make English kids as good at maths as Asian kids. Which means they all learn together, and don’t learn anything new until every kid is up to speed. It also involves a “lot of chanting and recitation” and congratulations are limited to a classwide applause of five steady claps. The payoff is each 35 minutes of class time ends with 15 minutes of play.

6. You don’t need to worry about the mastery approach if you want to win the revived series of BBC cult entertainment show ‘Robot Wars’. It fires up again today, with 12 years of advances in robotics to tool around with. And all eyes are on “Pulsar”, a bot that spins at 9000 revs per minute which was built by 19-year-old engineer Ellis Ware who “learnt everything from YouTube tutorials”.

7. If you like the thoughts and words of celebrated journalist and author Malcolm Gladwell, you probably already know he has a new podcast, “Revisionist History”. It’s been greenlit for a second season – we know that because he told us. Along with a lot of other stuff about his beef with billionaires, police violence and crappy US education systems in this huge, fascinating interview.

8. Lewis Hamilton’s car has nearly won the F1 driver’s championship this year, but it made him wait for a little while behind Mexican Estaban Gutierrez last night in Budapest and he didn’t like it. But his pit crew then hit all the right buttons in the right order and Hamilton was flung past breezily enough for him to find time to send a message to all drivers with povvo cars:

Aussie Daniel Ricciardo finished third.

9. In 2011, Mark Cuban invested $US150,000 for a 30% stake in Tower Paddle Boards, which at the time had just $260,000 revenue coming in. This year it expects to hit nearly $10 million in revenue. So yes, Cuban is a jammy git, but save your jealousy for Tower’s 11-strong staff. In 2011, they only worked five hours a day. And now, after all that success, they’re still working five hours a day.

10. Haven’t found all the Pokémon yet? Really? Have a good hard look at yourself, then at this list of every single Pokémon currently in ‘Pokémon GO’. Then stop whining about glitching, because here’s two clever ways to find rare and hidden Pokémon even when the tracker’s down. And know there’s people out there now catching rare Pokémon that aren’t even available yet.

BONUS ITEM: Wonder Woman is back, finally with her very own movie. And she has her golden whip:

Still no Invisible Jet.

Have a great day.

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