10 things you need to know this morning in Australia

ELIJAH NOUVELAGE/AFP/Getty Images

Good morning!

1. Harsh conditions at Google HQ. The tech giant has treated contractors and temporary workers unfairly, including subjecting some to shaming rituals, according to a New York Times expose. The investigation follows a Business Insider report in January that found Google was banning contractors from its internal forums.

2. Australia ranked 18th most globally competitive country. Swiss business school IMD has listed a number of strengths and weaknesses in Australia’s economy. Think-tank the Committee for Economic Development of Australia has jumped on the ranking to renew calls for cuts to the company tax rate. Singapore took out first place, followed by Hong Kong and the US.

3. Will there be a trade deal between the US and China? Trade tensions are escalating again, but the risks of not making a deal could be what delivers results, according to Credit Suisse.

4. The Aussie dollar is trapped in a narrow trading range. After closing at .6917 on Monday, the AUD/USD traded in a tiny 22 pip range throughout Tuesday’s trading session. But while the AUD went nowhere against the greenback, it did manage to strengthen against most major crosses.

Investing.comAUD/USD Hourly Chart

5. Sydney’s controversial lockout laws will be reviewed by new parliamentary committee. The Berejiklian Government will consult with NSW Police and health, community, entertainment and music groups. The review follows a report by Deloitte Access Economics which found New South Wales was missing out on billions from a thriving night-time economy.

6. UK Opposition leader Jeremy Corbyn says Labour now backs a new Brexit referendum. The shift in position comes after Labour lost swathes of voters to anti-Brexit parties in the European elections.

7. Macquarie believes Australian house prices could increase faster than we thought. Analysts at the bank say over the past three decades, house prices began to increase five to seven months after the largest falls in the cycle occurred

7. Twilio CEO Jeff Lawson has some advice for enterprise software firms going public. The cloud communications provider listed on the New York Stock Exchange in 2016 and has had a “wild ride” since. Lawson sat down with Business Insider Australia on his first tour of Twilio’s Sydney and Melbourne offices.

8. Tesla slammed with a new lawsuit. French metal supplier Lebronze says Tesla hasn’t paid for $US1.7 million in parts and has filed a lawsuit against the electric vehicle pioneer.

9. Stockmarkets are shrinking. Companies have been buying more shares than they are issuing, every year since 2011. But this “de-equitisation” is natural, says Citi.

BONUS ITEM

Only in New York would anyone head to a fancy restaurant to order food for their dog. Which is exactly what happened to this chef.


You can get 10 things direct to your inbox each morning by punching your details into the form below.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.