1. First, to markets. We’ll talk about the latest Bitcoin boom a bit further down, but in IRL markets, US stocks still managed to hit a new record high on Friday through low Thanksgiving trading volumes. The benchmark Shanghai composite regained some composure to finish Friday flat, and in Europe, more strong data out of Germany pushed the euro higher. The Japanese yen and UK pound also climbed against the greenback, but the Aussie dollar failed to break higher and starts the week just above US76 cents.
2. Data slows down this week in Australia, but there’s a couple of big moments overseas. The nominee for the next US Fed chair, Jerome Powell, appears before the Senate Banking Committee for his confirmation hearing on Tuesday night, and may give up a few clues on his leadership plans. Outgoing Fed chair Janet Yellen appears before the Joint Economic Committee of Congress on Wednesday night. And we’ll get CPI data for Europe and Japan on Wednesday and Thursday. In Australia, private sector credit and CoreLogic’s monthly house price index will be watched closely. It’s all here in Sam Jacobs’ diary.
3. Queensland premier Annastacia Palaszczuk will remain Queenland premier after her Labor party looks almost certain to retain a majority of 47 or more seats following the weekend election. The LNP looks good for 39 or 40 seats. If Palaszczuk needs to do any deals, she can choose from Bob Katter’s Australia Party (2 seats), One Nation (1) or the Greens (1). Queensland Nationals are blaming Malcolm Turnbull for the loss, and are threatening to go rogue.
4. Bill and Melinda Gates have $US90 billion and three kids. For Jennifer, Rory and Phoebe, there was never any chance they would have an ordinary life, but the Gateses do their best to keep their kids grounded:
When my son Rory was born, I spent a lot of time imagining what this little person would be like and who he would be as he grew up. Now, as we near his 18th birthday, I have my answer. Rory is compassionate and curious. He’s a great son and a caring brother. He’s inherited his parents’ obsessive love of puzzles. And one of the things that makes me proudest: Rory is a feminist. As he goes out into the world, I feel more optimistic than ever about the future his generation will build.
Here’s how they, the Ellisons, the Bezoses and other tech billionaire families try to keep life real for their kids.
5. Lord Bilimoria, the co-founder of Cobra beer and one of Britain’s most well-known entrepreneurs, raised an interesting prospect for life after Brexit. He told BI on Friday that one of the many complex deals Theresa May will have to strike in all the new free trade deals her party will negotiate over the next couple of years will be over immigration. As in, increased immigration to the UK. This, presumably, is the opposite of what the racists were hoping for.
6. What Thanksgiving looked like for Bitcoin investors:
But mining the world’s hottest cryptocurrency is far from creating free money out of thin air. PowerCompare.co.uk has estimated the electricity used to mine Bitcoin this year alone is bigger than the annual usage of 159 countries.
7. Amazon also had a great weekend, sucking up more than 50% of all sales on Black Friday – that’s well over $US1 billion in just 24 hours of trading. Tony Yoo just landed in San Francisco and got a eye-opening first-hand view of what shopping looks like right now on the ground – and what it will probably look like in Australia within a few years.
8. And if you haven’t already blown your Christmas budget through Click Frenzy and Black Friday, the rest of the deals are here right now on Cyber Monday. We’ve rounded up the best offers from a few of our affiliates to get you started.
9. All the celebs had a Twitter party at the US president’s expense. Trump claimed he was “PROBABLY going to be named ‘Man (Person) of the Year'” again, but because they wanted an interview and photo shoot, Trump “said probably is no good and took a pass”. Luke Skywalker led the pack:
Time Magazine called to say that I was DEFINITELY going to be named "Man (Person) of the Year" but I would have to agree to leak major #Ep8 spoilers. I said "no problem", but then they told me you turned it down and now I don't want it anymore. Thanks anyway! https://t.co/0tPGr1cNEM
— @HamillHimself (@HamillHimself) November 25, 2017
10. England is going to have to skittle 10 Australian batsmen for 56 runs if it wants to win the First Test. So, yeah, the visitors are still a chance. But the press and experts back home are already turning on the Poms, and especially on an insipid pace attack that failed to make a dent in David Warner and debutant Cameron Bancroft after losing eight of their own batsmen on the same day. The closest anyone got to a gamechanging controversy was whether Gabba staff had fattened the crease, costing Moeen Ali his wicket.
— England's Barmy Army (@TheBarmyArmy) November 26, 2017
Have a great day.
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