1. Amazon’s big day came and went and nobody seems to be sure about what actually happened. The closest we came to seeing any reported action was an ice cream seller cancelled a request to hand out free Amazon-coloured treats at Southern Cross Station in Melbourne. So it looks like a full rollout next week, and if that’s destroyed your Black Friday vibe, here are all of the deals you need to know about that aren’t on Amazon.
2. Meanwhile, Sydney got its own massive fulfillment centre and its owner hosted 200 producers this week to tell them how they can make tons of cash out of it. It’s owned by VIP.com, China’s third largest online shopping site behind TMall and JD, and it will be home for all the Aussie goods it will buy before sending them on to its 300 million customers in China.
3. To markets, and the Shanghai Composite index had its worst day since June 2016, closing 2.29% down. Analysts blamed excessive leverage and speculative stock trading. US markets are closed for Thanksgiving, but solid PMIs in Europe pushed the euro further above $1.18. The AUD is finding support above US76 cents and iron ore is on a bit of a rocket.
4. We have a podcast for you. This week we’re joined by JP Morgan’s global markets strategist Kerry Craig to chat about uncertainty, yield curves, geopolitics and drivers of the Australian dollar. You know you want to – find it on iTunes, or listen in below:
5. It looks like the Argentine submarine and its 44 crew members is all but lost. Sadly, the ARA San Juan’s oxygen supply is close to running out, and a huge sea and air hunt 420km off the coast of Argentina has yielded nothing. And the best clue to its whereabouts is the worst clue – an abnormal sound detected in the South Atlantic ocean around the time ARA Juan sent its last signal last week was “consistent with an explosion”.
6. Productivity growth in the UK will be at just 0.1% by the end of 2017. It’s been worse – in 1812, for example, during the Napoleonic Wars. GDP growth forecasts have now been revised down every year until 2021. Wages won’t grow until at least 2025. It puts the UK on course for its longest fall in living standards since records began. Yes, we’re talking about Brexit, the moment where the UK said it’s had enough of all this and will go its own way and everyone who said they were now doomed was told they were over-reacting just a bit. But the first estimates from the UK’s Office for Budget Responsibility since the referendum shows Brexit will cost Britain £72 billion in lost annual economic activity by 2021. That’s a £50 billion a year bump up from the previous best private estimate.
7. Remember this moment?
It’s been 30 years since the person in the Max Headroom mask hacked a US broadcast of Doctor Who, and we still have no idea who did it. Perfect. And if you remember that, you probably remember Robbie the Robot:
Someone did, with love, and just bought him for $7.1 million.
8. All the phonemakers have given it their best shot in 2017 and now it’s too late to wait any longer for new arrivals before Christmas. So here we go – these are the top 20 smartphones in the world right now. Go.
9. Hedge funds are so 2012 right now. One hedging gauge in the US is now sitting at close to its lowest point in five years. There’s a near-record concentration in top tech stocks, and funds overall are getting whupped by the S&P 500. Essentially, hedge funds – at least in the US – have been forced to give up on hedging funds.
10. The Ashes got under way and it was exciting when Cook got out early, intriguing when newbies Mark Stoneham and James Vince put on a polished 100 partnership, but ultimately dull as rain spoiled play. The Poms finished at 4/196 but the real villain was the Gabba pitch. It was so lifeless Rodney Hogg demanded the curator be “taken away and locked up”.
BONUS ITEM: Indulge us. He’s still got it, probably more than ever:
Have a great day.
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