Good morning! It’s a big week ahead – let’s get started…
1. The focus will be back on the domestic economy in Australia this week. Today we get June retail sales, and ANZ job ads. Tomorrow there’s the RBA’s monthly interest rates announcement where we’ll get the board’s updated view on the state of the economy. Then on Thursday we get the July jobs data, with economists expecting 13,900 jobs added for the month and the unemployment rate steady at 6.0%. More here. The June half reporting season really gets underway this week too, with Transurban and Cochlear tomorrow, and Rio Tinto on Thursday.
2. Markets are down. ASX futures are down 26 points ahead of the start of trade. It follows falls in the US Friday trading session – the Dow and the Nasdaq were down 0.4%, while the S&P 500 lost 0.3%, following the US jobs report which disappointed with 209,000 new payrolls added, against 233,000 expected. It’s looking like a grim start to the week following the 1.4% fall in the ASX on Friday.
3. The Australian retail sales data out at 11.30am AEST will be watched closely, following last month’s surprise fall of 0.5% in May. The record-breaking good weather in that month has been regarded as a major factor in that poor result for the sector, but there was also some concern that consumer confusion around the impact of the budget could have put a brake on spending. Consumer confidence has been recovering more recently following its cratering around the budget, however. The market’s expecting a rise of 0.4% for the month of June – we’ll have live coverage when the number’s out.
4. The US wants answers from Israel following another shelling of a school shelter in which 10 Palestinians were killed. Israel has indicated that is operation in Gaza targeting Hamas operations is nearing an end, after 27 days of conflict. Palestinian officials put the death toll at 1,775, most of them civilians. Israel says 64 soldiers have been killed in combat.
5. The government will co-opt Australian ISPs in its crackdown on internet content piracy. Attorney-General George Brandis has told The Australian that ISPs are unwitting facilitators rather than innocent bystanders. “We expect the ISPs to make a contribution to the cost of administrating the scheme. No side in this debate can pretend that it is uninvolved.”
6. Cloudflare, the cloud cyber-security company, is now a billion-dollar company and is handling 5% of all the traffic on the internet. Described as a “digital bouncer” which protects sites from hacking attacks, the service has been growing at at staggering 450% for the past three years. The founder and CEO, Matthew Prince, wrote his college thesis on “Why the Internet was a fad”. Their next target is Cisco. More on them here.
7. How Tinder started its user base. In the early days of the dating app, one of the founders went around to US universities and got sororities and their partnering fraternities to sign up on the service. It made the app an instant hit on campuses. We’ve got this and more marketing inspiration for startups here.
8. Running just five minutes a day could add years to your life, and be just as beneficial as running for much longer periods, according to new research. Elsewhere, doctors warnsitting around all day in an office is terrible for you anyway.
9. How about those Waratahs? The NSW team are the 2014 Super Rugby champions, having beaten the Crusaders 33-32, with a last-minute penalty goal from a monster 45m out sealing the win at ANZ Stadium in Sydney on Saturday night. Experienced rugby followers were saying it was one of the best games they’d ever seen.
10. They weren’t the only Aussie team to bring down a New Zealand side at the weekend. Overnight women’s netball team the Diamonds won gold against the Kiwis at the Commonwealth Games in Glasgow. The Diamonds destroyed the Silver Ferns 58-40 with the side’s goal shooter, Caitlin Bassett shooting at over 90% accuracy missing just four shots out of 53. The win took Australia’s final medal tally to 137 medals including 49 gold.
Bonus item: if anyone can explain Kylie Minogue’s outfit which she just appeared in for the closing ceremony at the Commonwealth Games, do let us know in the comments.
Have a great day. I’m on Twitter: @colgo
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