10 things you need to know this morning in Australia

Different brands mean different things to some people. Picture: Getty Images

Good morning, and welcome to Friday.

1. For about an hour, Amazon boss Jeff Bezos was the richest man in the world. Amazon shares rose ahead of the company’s earnings call, sending Bezos’ net worth to $US91.89 billion, ahead of Bill Gates’ $US90.8 billion. But then his company missed Wall Street expectations by a mile. One mystery expense was Amazon setting aside 70% for income taxes.

2. To markets, and while the Australian dollar’s first foray above 80 cents in more than two years didn’t last long, iron ore is clinging on to $70 a tonne. But some good trade data for the US overnight has improved prospects for a a solid Q2 GDP figure in the US later tonight, and the greenback is rallying a little. There’s not a lot on the local data calendar today, with producer price inflation figures scheduled for 11:30am AEST, so SPI Futures traders expect a flat opening on the ASX200.

3. Floyd Mayweather has caught the cryptocurrency bug and reckons he’s about to make “a $hit t$n of money” on August 2:


Maybe he’ll be able to afford some new jeans. And this undefeated MMA fighter reckons it will take two Conor McGregors in the ring to make Mayweather sweat for another $US100 million next month.

4. Podcast! Friday is a great day to pretend to be doing something else, so while you’re staring at your screen, tune in to hear what ANZ senior economist Joanne Masters has to say about the low inflation, slow wages growth and energy policy difficulties piling up in the economy right now. You can find the show on iTunes, or listen in below.

5. What is Malcolm Roberts? The One Nation senator was born in India to a Welsh father and online documents show he travelled on a British passport as a child and is listed as a British national born overseas. He is “choosing to believe” he was never British, yet he claims to have documents to show he renounced his British citizenship three days before before nominations closed for last year’s election. Now he has revealed UK authorities confirmed his renouncement, but it was five months after his election.

6. Today, 30 people will receive their Tesla Model 3 direct from the company’s Fremont factory floor. It’s a huge moment for both the car maker and the auto industry as Tesla tries to ramp up production from less than 100,000 cars last year to a million by 2020. It’s all about risks, and here are all the big ones Elon Musk – a man who thrives on risk – is taking, starting tonight. And here’s a former launch manager for Tesla on what it’s like launching a new vehicle for Musk.

7. Russia has space shuttles, and they even look like space shuttles. But they been sitting inside a massive shed since the 1990s, slowly disintegrating, so members of the YouTube channel Exploring the Unbeaten Path snuck inside to climb all over them and get incredible shots like this:


They even got inside the shuttles. There’s more footage here.

8. Richard Branson made a bet in 2012 with British Airways boss Willie Walsh that Virgin Atlantic would still be around in five years. It’s almost December, and with 31% of VA just secured by Air France-KLM, Branson has reminded Walsh that the winner of the bet gets to knee the loser in the groin.

9. Naomi Simson knows how to scale up – with robots. Her Big Red Group deployed AI tech on June 1, where within 24 hours, it was able to identify and execute more than 6,400 keywords to improve search engine performance at her company RedBalloon. That’s about a year’s worth of work for a human. And if you want to use it, she’ll sell it to you.

10. Love a good tax deduction? Course you do. So here are the top 10 occupations for cashing in at tax time.

BONUS ITEM: Because you can’t open a post with metal and leave it hanging:

Have a great weekend.

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