10 things you need to know this morning in Australia

Amazon Response Unit – engage! Picture: Warner Bros

Good morning. 31 sleeps to go.

1. The Institute for Fiscal Studies has passed on its traditional post-Autumn Statement in the UK. And this year’s a special year, because Brexit has given the IFS a whole new set of projections to work with. One of which shows real wages will, in 2021, be below their 2008 levels. That, according to IFS director Paul Johnson, is “extraordinary and dreadful”.

2. HSBC has its own projection:

It says Brexit will cause a permanent loss of output, and wiping billions off GDP in the next five years. But former work and pensions secretary Iain Duncan Smith says why should anyone listen to an organisation “that simply hasn’t got anything right”?

3. Our tech editor Tony Yoo is in Tokyo right now checking out the Global Mobile Broadband Forum. He just heard Ken Hu, whose company Huawei was banned from supplying the NBN in Australia due to espionage concerns, say why would you bother with all that digging anyway? The payback period for a wireless broadband to the home network was two years, he says, compared to eight for a fixed line rollout. And he reckons 5G is ace.

4. Devils and Details is back! Our markets and economics podcast returns this week as markets – and we can’t believe we’re saying this – bask in the post-Trump victory glow. So we’re talking about that with Scott Haslem, the chief economist at UBS for Australia and New Zealand, along with a chat about iron ore, coal and of course, the cricket. Listen in below:

5. So yeah, how about them markets? Even Thanksgiving can’t keep the US dollar down – it surged again last night, but the Aussie dollar hung tough around 74 cents. European markets also finished in the black and futures traders have the December contract up nearly 20 points as the ASX looks to hold above 5500 today.

6. Amazon is coming. And with the guy rolling it out in Australia telling everyone they’re going to “destroy the retail environment”, Woolworths has gone out on its own and is preparing its Amazon response unit.

7. Are you smarter than this guy?

Picture: 20th Century Fox

Every American football rookie has to pass the Wonderlic IQ test. We’ve got five questions from the test right here. Go.

8. This Aussie VC reckons Qantas and Virgin should invest in a hyperloop between Melbourne and Sydney or miss out on making “an enormous amount of money”. Despite the fact Australia can’t even build a decent railway line between the two. And in other VC startup fantasies, Faraday Future is looking at yet another setback after stopping work at its $1 billion factory.

9. If your job interview is going along just so gosh darn well, you think now’s a great time to ask your potential employer out for dinner, don’t. It’s one of these 11 things that will kill your job propects stone dead before you even leave the interview room.

10. If you live in Melbourne and like eating, you’ve most likely had a great year. That’s because these 10 fantastic restaurants opened up, including “the culinary equivalent of a large hadron collider”. Check them off your list.

BONUS ITEM: You’ve still got time to set up your water jet in time for carving the turkey:

Have a great weekend.

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