1. US stocks slumped after another rough session on Chinese markets yesterday, as rising trade tensions continue to weigh on investor sentiment. With continued weakness in global markets the ASX looks set to open lower this morning.
2. Trade tensions push the Australian dollar to the lowest level since January 2017 on Wednesday. Renewed concerns about the Chinese economy was also a catalyst behind the slide. Higher crude prices helped the Aussie perform better against the crosses. Trade headlines and the performance of Chinese financial markets will likely dictate sentiment during the Asian session. At 7am in Sydney, the AUD/USD was down 0.74% to 0.7338.
3. Reigning World Cup champion Germany has been eliminated after a controversial video review, continuing a mind-boggling trend of defending champs getting knocked out early. The VAR review overturned an offside call on the field to give South Korea the first goal of the match, in the 91st minute. Later in stoppage time, South Korea scored another goal into an empty net, taking the game 2-0.
South Korea’s win was a huge boost to Mexico, advancing it through to the knockout stage. In fact, Mexico fans went nuts in the midst of a 3-0 loss after learning that South Korea had saved their World Cup hopes. See their reaction here.
4. A new era of banking. British banking pioneer Anthony Thomson, the entrepreneur who co-founded the highly successful Metro Bank in the wake of the GFC, has set his sights on Australia with a new digital challenger bank. Banking startup 86 400 will launch in early 2019, and is wholly funded by the Sydney-based payments services company Cuscal, best known for rediATMs. The launch comes amid a litany of complaints about the behaviour of the Big Four banks at the royal commission into misconduct in the financial services sector.
5. Australia’s biggest capital raising deal of the year was done in 90 minutes. 90 minutes. That how long Tiger Global Management needed to know SafetyCulture was worth a $60 million investment. Founder and CEO Luke Anear spoke to Business Insider about the meeting and his advice for others seeking VC funding.
6. Mapped out. Here are the countries making it difficult for Chinese investors to buy property.
Created by Chinese property website Juwai.com, the map shows all the current and proposed restrictions on foreign residential investment. It follows an ongoing debate over whether increased foreign investment has contributed to substantial price gains in Australia.
7. The Samsung Galaxy Note 9 is coming! Samsung has sent out press invites for its Unpacked event in New York on Thursday, August 9, when the company will most likely announce the successor to the Galaxy Note 8.
8. Be nicer to each other, or face disciplinary action. That’s the warning Google sent employees, explaining that its internal bulletin boards are not a free-for-all for nasty, negative, damaging posts. The new rules seem like common sense, but Google’s infamous bulletin boards have been at the centre of multiple controversies over the past year, with scandalous consequences.
9. Goldman’s CEO-in-waiting just released his first electronic dance single, a remix of a popular Fleetwood Mac song, and it’s already a hot song of the summer on Spotify. Check it out:
10. Get excited, people. A photo has been leaked of Quentin Tarantino’s new movie, “Once Upon a Time in Hollywood”, which stars Brad Pitt, Leonardo DiCaprio, and Margot Robbie. DiCaprio shared the first on-set photo via Instagram, in which he and Pitt appear in costume. The movie is set in 1969 and partly involves the Manson Family murder of the actress Sharon Tate.
Read all the details of the new movie here.
BONUS ITEM: Lionel Messi stunned a reporter by revealing he wore a good-luck charm from the reporter’s mother during a crucial World Cup match.
Here is a translation of the conversation seen below, via Luis Mazariegos:
Journalist: In the first match I gave you the good-luck charm that my mother gave me – I’m not sure if you kept it or threw it away.
Messi: Look (he shows he has it around his ankle).
Have a great day.
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