10 things you need to know this morning in Australia

Phil Walter/Getty ImagesPrince William, Duke of Cambridge lays a wreath as he attends the ANZAC Day Civic Service at the Auckland War Memorial Museum on April 25, 2019.

Good morning!

1. ANZAC Day memorials this year also paid tribute to the lost and fallen in recent terror attacks. Prince William attended the commemoration at the Auckland War Memorial alongside New Zealand Prime Minister Jacinda Ardern. He is expected to travel to Christchurch to visit the sites of the recent mosque shootings.

2. $5 billion is pocket change for Facebook. Facebook has recently been whacked with a fine by the Federal Trade Commission in the range of US$3 billion to $5 billion, but experts say Facebook will just shrug it off. The social media giant has over US$45 billion in total cash and marketable securities and has raked in US$15 billion in revenue just this quarter. The impact of the fine, in theory, should change Facebook’s operations and policies on privacy since the Cambridge Analytica incident, but Facebook continues to be embroiled in data scandals.

3. No room for more Brexit. British businesses want to stockpile goods in the lead up to the next Brexit deadline, but they’re finding that there’s no more room at warehouses to store goods. The result could see British stores with empty shelves if no deal is reached before the new deadline, October 31. Businesses relied on warehousing goods through the last deadline, but these facilities are now booked out with stocks and supplies for the Christmas period. Some businesses are proactively preparing for a “no-deal” scenario in October.

4. Tesla can’t forget this key fact: cars are expensive. It’s not just the tech that is costing Tesla a fortune, but the logistics of distribution is getting in Tesla’s way. The company’s first quarter earning were released on Wednesday, posting a US$700 million loss. Tesla has been riding the coattails of tech genius, and deservedly so, but it need to remember that it’s a car company too.

5. Amazon beats expectations in their Q1 earnings. The tech giant saw US$59.7 billion in revenue this quarter, well above their Q1 last year of US$51.04 billion. The latest earnings report showed that Amazon’s advertising business could be a chink in the armour, with a dramatic slowdown. Here’s our full breakdown.

6. ICYMI: Zero was a big number on Wednesday. The release of Australia’s Consumer Price Inflation (CPI) was unchanged over the March quarter, leading experts to believe that this is a strong sign of RBA rate cuts to come. Historically, when underlying inflation was this weak, the RBA cut interest rates — but whether we can expect this change again is another story.

ABS

7. How are the school holidays going? Sorry to burst your bubble, but the World Health Organisation just released a report on screen time for kids, recommending as little as one hour a day for kids under 5. Surprisingly, tech CEOs are big supporters of the advice with famous leaders from Tim Cook to Evan Spiegel limiting the screen time for kids. We’ve put together some of the Silicon Valley sweethearts’ at-home tech rules.

8. Are you the right cultural fit? Actually, it shouldn’t matter. Microsoft is in favour of ditching cultural fit in a diversity play that is boosting their bottom line. The head of acquisition has thrown down the gauntlet for other companies to ditch cultural fit, saying that the best hiring practices cut through cultural fit in favour of inclusivity. And it’s not just about gender either, but the tech giant that employs over 100,000 people, wants to provide better ways to hire for disability.

9. New Zealand and France vs. social media titans. Ardern and Macron have announced that there will be a summit in Paris on May 15 to form a pledge for businesses and politicians to end the proliferation of extremist content on social media. The New Zealand prime minister has been speaking with tech leaders, like Mark Zuckerberg, in the wake of the Christchurch attack and the heavy role social media plays in promoting terrorism. Facebook has allegedly removed 1.5 million copies of the live streamed attack and New Zealand has made disseminating the video illegal in their country.

10. Think you’re a good smartphone photographer? This astrophotograher has taken it to a whole new level capturing a beautiful snap of Saturn brushing by the moon, using a Samsung smartphone. Here’s how he did it.

Source: Grant Peterson

BONUS ITEM:
First the smoke starts creeping out the sides of this Tesla Model S, and within seconds the car has burst into flames.

The incident is currently under investigation by Tesla.


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