Good morning and welcome to the rest of your week.
Here’s a few things to get you started. First, to the markets:
1. In Asia yesterday, the Shanghai exchange kept moving toward 3000. More expectation of easing is pushing the market higher once again with banks and brokers the big winners yesterday. This ebullient mood helped Hong Kong while the weaker yen assisted the Nikkei. The Nikkei was up 0.41% to 17,663, the Hang Seng up 1.23% to 23,654 and Shanghai Composite Index hit 2,764 in a huge move.
2. The Aussie is lower at 0.8446 after the RBA signalled that it is still too high, even at 85 cents. Sterling is off a cent at 1.5636 while the USD is at 119.22.
3. On the data front today, all eyes on the Q3 GDP which most pundits think is going to print 0.7% and will be huge for the dollar. Elsewhere, non-manufacturing PMI will be out in China, Japan, Australia and the globe.
4. Financial planners don’t need an education. Would you see a lawyer or an accountant without a degree? No. How about the person in charge of ensuring your money will see you through to death? According to ASIC, that’s not such a big issue, because it’s abandoned plans to upgrade the standards of Australia’s financial planners. According to The Australian, the call came after nine key finance industry lobby groups — including the Financial Planning Association, the Australian Bankers’ Association and the Financial Services Council — all co-signed a private letter to ASIC asking it to rethink its plans which it did. Own goal, kicked.
5.How to make Sydney even more crowded. There’s a trend around the world in genuinely global cities to either shut down their CBDs entirely to commuter traffic or at least charge a hefty fee to drive through them. Somebody hasn’t told NSW Roads and Maritime Services and Transport, who reckon some of the footpaths could be narrower. Such as the congested Market St near George St. Other incentives to drive through the CBD include removing parking and loading zones and adding more clearways. Just bizarre.
6. Here come Abbott’s Cyber Police. Post offensive content on Facebook, Twitter, Instagram and the like and you could see them slapped with a $17,000 fine. That’s $17,000 for every day they don’t take your posts down. The office of the Children’s e-Safety Commissioner opened today and it has the very noble aim of protecting our kids from online bullying. It’s estimated one in five are victims. The question that remains is exactly how the Federal Government plans to get its $17,000 out of Mark Zuckerberg (and what it will do with the cash).
7. Don’t write off 2014 yet. There’s still 28 days to go and our amazing, radical self-help plan can whip you into shape in just 21 of them. Bring a friend, add one a day and you won’t get that “Where did the year go?” feeling at Christmas. While you’re at it, take some life-changing career advice from LinkedIn billionaire Reid Hoffman.
8. Plan B. Take 50 of these pills every morning. It works for the world’s second-smartest man. Probably avoid the beta test ones though, if you feel 50 is too many.
9. The future of digital. Our editor-in-chief Paul Colgan is holding up Australia’s end at the IGNITION conference in New York right now. It’s a Business Insider event and we don’t mind saying so ourselves, it’s a pretty ace showcase of where digital business is heading. Here’s the kickoff presentation presented by BI CEO Henry Blodget, with updates on digital growth which just get more incredible every year.
10. Farewell to Phillip Hughes. Expect one more #PutOutYourBats display this afternoon as Australians tune in for the funeral of the prodigal Test batsmen. Some rare good news is that Sean Abbott, the paceman who delivered the freak fatal ball to Hughes, is back in the nets and surrounded by supporting teammates, family and friends. The 22-year-old had made his Australian one-day and T20 debuts just two months ago, and it’s going to be a long road back. Hughes’s funeral will be broadcast live on Channel 9, 7 and ABC News 24 from 1.30pm.
BONUS ITEM: If you missed Iron Sky, you missed a camp classic, made all the more wonderful because it was a part-Aussie team behind it. But wait – it’s actually a trilogy. The next installment is nearly ready (here’s the trailer) but a new preview has just lobbed showing it will star everyone’s favourite macho leader, Vladimir Putin. Enjoy:
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