10 things you need to know this morning in Australia

Oh, Cup Day. Picture: Getty Images


1. It’s Melbourne Cup Day, so… rates! This afternoon the RBA will deliver its November monetary policy decision and just like the big race itself, no one has a clue who’s going to win. History is your only guide – in 20 years, the cash rate has been moved nine times on Cup Day. Six of those moves have come in Glenn Stevens’ nine-year tenure as RBA governor. Here’s all you need to know before the big drop at 2.30pm AEDT.

2. There are some market things going on. For at least half a day, traders will have noted the strong gains in the US overnight, and the fact ASX futures are up 66 points with the December SPI 200 contract sitting at 5,195 this morning. Yesterday was terrible – banks were hammered and the ASX 200 physical index dropped more than 70 points.

3. The Aussie dollar was becalmed in a tight range over the past 24 hours, but in probably your only sure bet, it’s going to have a cracker of a day today.

4. Speaking of odds, our Greg McKenna has a 100 per cent strike rate picking the winner of the big race. It’s all in the charts, you see, and here he is again this year with four of them, and one winner.

5. Your ping pong table is invalid. Startups are growing up and realising that employees know how to feed themselves and what real people actually want are creative equity plans and favourable parental leave policies. Luminary Labs have put together a presentation of tech-based startups pushing the perks envelope, including one which lets employees vote on next year’s management team.

6. Good news, Trekkers. Star Trek is coming back to TV. Bad news – not until 2017 and you’ll have to pay for it. For the $US5.99 subscription fee, CBS promises the new series will:

“introduce new characters seeking imaginative new worlds and new civilizations, while exploring the dramatic contemporary themes that have been a signature of the franchise since its inception in 1966.

Myles Udland thinks that for two reasons, this feels a lot like a huge strategic win for Netflix.

7. China made an Airbus. The Commercial Aircraft Company of China, or COMAC, rolled out its answer to the Boeing 737 and the Airbus A320, unveiling the new twin-engined C919 medium-range airliner. Here’s some great pics of the impressive reveal at COMAC’s production facility, and we’ve even found an obligatory quote about safety concerns from a guy whose last name is Captain.

8. Today marks the 15th anniversary of one of the greatest engineering feats in human history. Two years after it was launched, humans arrived on-board the International Space Station to begin – so far – 15 years of habitation somewhere other than Earth. For just $US100 billion, it’s been renovated from three rooms to a football field. And because you’ve got to get your bets on, we’ve squeezed it all into this GIF for you:


There’s heaps more interesting space stuff here.

9. The single best thing parents can do to make sure their kids are successful is also, happily, this thing that parents will enjoy watching them do.

10. Australia loses. The Organisation for Economic Cooperation and Development just released its annual Better Life Index. For the past two years, Australia has been the greatest country in the world to live in. But not this year. We’ve dropped to fourth and, worse, the three countries ahead of us don’t even have nice beaches or cricket.

BONUS ITEM: I reckon Greg’s buggered up by chasing young legs. They’ll finish Almoonqith, Fame Game, Red Cadeaux, Preferment and Trip to Paris. Promise.

Have a great day and don’t lose too much.