10 things you need to know this morning in Australia

The Martian© TM &2015 Twentieth Century Fox Film Corporation via IMDbOpportunity, do you copy?

Good morning.

1. Welcome to the Morrison era. Former Treasurer Scott Morrison was sworn in by Australia’s Governor-General Sir Peter Cosgrove as Australia’s 30th Prime Minister on Friday evening. On Sunday the new PM announced his ministry. Key changes include include Peter Dutton, defeated by Morrison in the leadership spill, keeps Home Affairs but loses Immigration, and Marise Payne – previously in charge of defence – replaces Julie Bishop as Foreign Affairs Minister, after Bishop announced her move to the backbench. Despite the fresh new look, voters are ready to punish the Coalition after last week’s chaos. Just look at the latest Newspoll result. And Simon Thomsen argues there’s more pain to come for the Coalition, both at the ballot box and financially.

2. The Australian dollar rallied across the board on Friday, supported by strength in the Chinese yuan and weakness in the greenback. At 1.1%, the AUD/USD’s daily gain was the largest since August 16, 2017.

Investing.comAUD/USD Hourly Chart

Here’s everything else you need to know about the week ahead for markets.

3. There’s been yet another mass shooting in the US, this time at a video game tournament in Jacksonville, Florida. Police report at least four people died, including one suspect, while others were injured and receiving treatment in hospital. It comes two days after a gunman killed one person and left two injured at a high school football game in the same city.

4. Elon Musk said he won’t be taking Tesla private after all. Despite insisting that he has funding to do it, he now says he won’t because investors pleaded with him not to.

5. Australian auction clearance rates inched higher on the weekend, even with a larger number of properties going under the hammer. Clearance rates remain well below the levels a year ago, especially in Melbourne, Australia’s busiest auction market. CoreLogic will release weekly price data for Sydney, Melbourne, Brisbane, Adelaide and Perth later today. Over the past year the median home price in these capitals has fallen by 3%, according to latest data.

6. Saudi Arabian students must leave Canada by August 31 after the Saudi government announced it was recalling students on government grants or scholarships from Canada. The two governments have been feuding since Canada’s foreign minister called out Saudi Arabia’s human rights record. As many as 8,000 students are now scrambling to sell their belongings, including cars and furniture, online and in garage sales before they leave the country.

7. Move over, Sydney. Melbourne, Australia’s fastest growing city, is due to hit the five million population mark today. The Victorian capital last year added 125,424 people — the equivalent of adding one new Darwin. Based on the current population growth rate of Melbourne, it will overtake Sydney in 2026.

8. World rugby critics are in awe of the All Blacks after their demolition of the Wallabies. Even Stephen Jones, who is a serial All Blacks critic, admitted their latest Bledisloe Cup victory “had elements of a complete performance and tilted world rugby on its axis”. New Zealand beat Australia 40-12 at Eden Park over the weekend.

9. NASA’s longest-lived robot on Mars isn’t calling home, and there could be a chance that it’s dying. The Opportunity rover began hibernating on June 10 after a huge dust storm, and is yet to wake up and call NASA. If the robot can’t get enough sunlight, its batteries may brown out or lack the electricity to power heaters. For now, the space agency must watch and wait. Meanwhile, if you’ve ever wondered how astronauts go to the toilet in space. This article will answer all your questions, and then some.

10. Listen up. This woman saved $20,000 in 10 months while living in Australia. In early 2016, travel blogger Nina Ragusa saved up while living here with her boyfriend on a working holiday visa. She implemented two basic rules: Work as much as possible, and don’t spend any more than necessary. Sounds a bit unAustralian. Here’s how she did it.

BONUS ITEM: Ever wondered how much Amazon founder and CEO Jeff Bezos makes in an hour. Brace yourself, it’s $4,474,885. To put that in perspective, the average weekly earnings of an Australian in the 12 months to November 2017 was $1,191.50.

How much money billionaires make in hour chartShayanne Gal/Business Insider

Have a great day.

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