10 things you need to know this morning in Australia

Little fat kid wields a big warhead. Picture: Getty Images

Good morning.

1. When will rates start heading up again in Australia? It depends on who you listen to, but if you’re an OECD fan, its money is on “the second half of 2018”. That’s when it believes “a pickup in wages and prices becomes more entrenched”.

2. North Korea fired another ICBM towards Japan, even landing it within Japan’s exclusive economic zone. But South Korea used the launch to practise its “precision strike” missile reply exercise. Meanwhile, over the Black Sea, a Russian Su-30 pilot tried to fry a US Navy P-8A Poseidon anti-submarine warfare aircraft with its afterburners.

3. Amazon has reportedly paid $7 million for land in an industrial area south-west of Sydney. There’s talk Australia’s most populous city might be getting its own “fulfillment centre”. But as impressive as the company’s physical footprint is, it’s the services it offers in the cloud which has Goldman Sachs all bullish. The GS team just raised its 12-month price target for the stock to $US1,450.

4. You’d have to be a special kind of masochist to be looking forward to the 14,400km flight from Perth to London. Now, with its new Dreamliner fleet, Qantas is looking at making it a non-stop haul. But when he went for a test ride, Benjamin Zhang noted a tiny new innovation – this:

Qantas economy class seatSee the foot net? Picture: Tom Ferguson

It’s a foot net, and Zhang reckons it will change flying in economy class forever. Your other option is to make pots of cash and stump up for giant new throne-like seats like these ones in Lusthansa’s new Boeing 777-9s.

5. News of a Brexit deal broke. It will reportedly cost the UK government €45-55 billion to leave the EU. The pound reversed course, sharply. But UK and Euro stocks still had a good night to follow an Asian rally, and the ASX200 looks set to open higher. The battler held its ground around US76 cents.

6. Trading between bitcoin and the Japanese yen is higher than trading with any other fiat currency. And today, bitflyer, the largest cryptocurrency exchange in Japan, announced it will expand into the US. That means liquidity to the US markets, so institutional investors can now jump on the bitcoin bandwagon. Quickly, ideally, because BTC cleared the $US10,000 mark overnight. But that depends on which exchange you’re watching, which in turn shows just how much the immature global BTC market is ripe for arbitrage, according to this ETX Capital analyst.

7. Where can you see – and touch – the new Corvette ZR1, Aston Martin Vantage, Porsche 718 Cayman and Boxster GTS versions, and 17 other concepts and new releases from the world’s best auto manufacturers? LA, this Friday, at the LA Auto Show. If you can’t make it, these pics of all the stars are the next best thing.

8. Pulling out your phone to check the time is crass. You need a watch, and these days, even the excellent ones are less than half the price of an iPhone 10. So today, choose from this $US700 GT-evoking timepiece from Autodromo:

You have to buy a Ford GT to be able to buy this watch. Picture: Autodromo

Or the proper, robot-made Sistem51 automatic from Swatch for the incredible price of $US150:

Hodinkee Sistem51 Vintage 84 smallSix red dots show the position of the Vintage 84’s jewels. Picture: Hodinkee

The difference? You have to buy a $US400,000 Ford GT to access the Autodromo.

9. It’s the “most important day of the year” in Washington, where President Trump will meet with congressional leaders from both parties to start negotiations to avoid a government shutdown. So Trump kicked off negotiations with a tweet:


And the negotiations were cancelled.

10. In a cave in the Church of the Holy Sepulchre in Jerusalem is the most widely accepted burial site of Jesus Christ. The only hitch is that the site seems to be around 1000 years old – 700 years later than the date Romans found and enshrined the tomb. But a new scientific process has found how long it had been since the limestone was last exposed to light, and the results say ooh, about 1700 years, actually.

BONUS ITEM: Landed it:

Have a great day.

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