10 things you need to know this morning in Australia

Nope. Picture: Network Ten

Good morning.

1. First, to the markets, which were so bad in Asia yesterday that China rolled down the stock exchange doors early and went for a lie-down to cope with it all. Given that, the ASX coped quite well to close down half a per cent at 5,270 on the first day of trading in 2016. And despite the predictable carnage across global markets overnight, (and as a sidenote, here’s what happens historically after that happens on the first day) futures traders have the March contract only down 30 points, 0.6%. Greg McKenna’s not sold though. He reckons it would be remarkable if the ASX only falls that far given energy held it up yesterday and oil was lower overnight.

2. While we’re on McKenna, he reckons he’s got a simple explanation for the rout in Chinese stocks. And a chart.

3. The Aussie dollar wasn’t into it, at all, taking its biggest fall in months. But iron ore’s having a good run. It’s up for the 11th day on the trot, a streak it hasn’t enjoyed since March 2012. But at $44.37 a tonne, it’s still just shy of its previous record low set back in July last year, and with Chinese futures softening in overnight trade, don’t get excited just yet. In other commodities news, here’s a chart of the 2015 commodities bloodbath that actually looks like a bloodbath:

4. Dick Smith is gone. Two years ago, the iconic Aussie retailer debuted on the ASX at $2.20. The retailer’s shares last traded at 35.5c — 83 per cent lower. Now receivers have allegedly been appointed to the company after it voluntarily suspended its shares yesterday.

5. Here’s your shark-strapped-to-the-bumper video of the day:


That was shared on Facebook by Julie Wright, who “had to look twice” when she saw it in Safety Bay, near Rockingham. There’s not a lot of love for the driver right now on social media.

6. We need to talk about Chris Gayle. The West Indian belted 41 runs off 15 balls for the Melbourne Renegades in Hobart last night, but then had a swing at Channel 10 journalist Mel McLaughlin – and missed. Badly. He told McLaughlin he was there “just to see your eyes for the first time”, then dropped this clanger live:

“Hopefully we can win this game and have a drink after. Don’t blush, baby.”

McLaughlin replied: “I’m not blushing.” And it was over to social media. And Network Ten, which said it would no longer use Gayle in its coverage.

7. And while the jury is out on whether Gayle’s comments qualify as workplace harrassment, the jury is absolutely in, however, on whether this 7Eleven ad trivialises Maori culture:


Apparently, it doesn’t, according to the Australian Advertising Standards Board. Even though the “warrior’s” tattoos seem to be drawn on in black texta. Huh. Here’s why.

8. CES is live. You’ll see a lot of new news and gadgets from the world’s biggest consumer electronics show this week, including GM chucking $500m into a partnership with Uber competitor Lyft to develop a fleet of self-driving cars. But for starters, how’s this smart fridge from Samsung with a massive Galaxy stuck on the door?

There’s more pics here.

9. Netflix looks to have scored another big winner with “Making a Murderer”, a documentary series covering the arrest of and trials of Steven Avery and his teen nephew in the murder of an Auto Trader magazine photographer. Both men are serving life sentences for the murder, but the doco’s focus on whether they were framed has now seen more than 200,000 signatures added to a petition to free Avery. Not so impressed is the Manitowoc County police department, which says it’s actually the victim here.

10. And if you like “Making a Murderer”, here are 11 other true-crime documentaries to watch after you’re done with it.

Have a great day.

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