10 things you need to know this morning in Australia

Not again. Picture: WCT/YouTube

1. Australia, the racist country. They’re inflammatory words, yes, but here’s the problem – like Americans and their guns, racism here is so ingrained, it’s almost impossible for some folk to see it. But ex-pat American in Melbourne Robbie Blowers does, and he wrote this amazing piece about the Adam Goodes controversy that just keeps hitting the mark.

2. It was another good day on the ASX yesterday, and one that looks destined to be followed by more positivity again today if futures are giving the correct lead. But Greg McKenna reckons the energy stock rally yesterday was likely sourced in the big bounce in crude the night before, so we might see a little reversal today. Likewise with iron ore down again, the big miners could come under pressure.

3. Chinese markets saw stocks flat to up for most of the day until a mini crash hit the end of trade to leave the index down 2.19%. In many ways it was the reverse of the previous day’s stellar rally and likely reflects some traders exploiting a lack of liquidity near the close. David Scutt says “given their recent track record, Chinese stock regulators will probably pin the decline on malicious short-selling initiated by mysterious foreign investors”, and he’s usually right about these sort of things.

4. Here’s one you might have missed yesterday. Simon Thomsen spoke to the chef who recently banned kids under seven from his North Queensland restaurant after the kid’s mum told him to “f..k off”. So how’s that ban worked out for him lately? “Business is booming,” Liam Flynn told us. “We just had record Friday and Saturday nights. People are spending up large, drinking fine wine…

5. The Rio Olympics is just 12 months away, and right now, you wouldn’t want to be training one of the open water events. Because this is what Guanabara Bay looks like right now:

Dip your toe in. Then take it out and wash it.

AP tested it and found the water contained concentrations of viruses that are “roughly equivalent to raw sewage”. Athletes who ingest three teaspoons of the water were 99% likely to get infected, scientists said. There’s more stomach-churning pics here.

6. Remember Angry Birds? That game which stole yours and 50 million other lives in 2009? Well, today, after 15 sequels which basically papered a new skin over the original game, it finally got a proper update. It’s even called Angry Birds 2, just so you know.

7. Startups founded by women are the best startups. Top firm First Round Capital is pretty good at investing, having snagged an early slice of Uber. But after examing a decade’s worth of data from 300 portfolio companies, it found startup teams with at least one female founder performed 63 per cent better than all male teams. So, fact.

8. Luggage has washed up on the island where possible debris from missing Flight MH370 was found off the east coast of Madagascar, but there’s no telling yet if it was from the ill-fated flight. What is incredible is this map made 12 months ago by the Coastal Oceanography team at the University of Western Australia:

That seems to be saying “somewhere off the east coast of Madagascar”. Australia has spent around $70 million looking in other places.

9. Rapper 50 Cent is so bankrupt he can only afford 24 bathrooms in his house. And a grotto. And a nightclub. Here’s a hilarious transcript from recent court proceedings where Fiddy is pressed about whether he can afford to pay $5 million to a woman whose sex tape he published online.

10. Mick Fanning got back in the water for the first time after a shark tried to eat him in South Africa recently. 60 Minutes was there, and to coin a tired clickbait phrase, YOU WON’T BELIEVE WHAT HAPPENED NEXT.

Have a great weekend.

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