10 things you need to know this morning in Australia

One is very much amused. Picture: Getty Images

Good morning. Here’s the story so far.

1. The Aussie isn’t looking good, says Morgan Stanley, who reckon there’s a 65 cent bottom waiting for the battler by December next year. The key to all this bearishness is that Morgan Stanley believe Chinese growth is both slowing and changing. At least the RBA will be happy. The Aussie is at 0.7818 this morning but how long it can hold above 78 cents depends on today’s Q4 GDP.

2. To the local market, where it’s worth highlighting that the ASX 200 has been flirting with the top of its current up trend for a little while now. Yesterday it tried to break higher again but failed. The RBA’s call to not cut rates was responsible for the move but technicians might suggest if a price can’t break a level then it will soon reverse away from it. Something to be aware of anyway.

3. Australian cities are best at being the most expensive. Singapore topped the Economist Intelligence Unit’s bi-annual Worldwide Cost of Living report, but Sydney and Melbourne both made five and six respectively. The EIU’s survey compares more than 400 individual prices across 160 products and services and uses New York as a benchmark measure. In particular, wine and cigarettes are ridiculously expensive in our big cities compared to the rest of the world.

4. While we’re on the billionaires list, there are a record 290 newcomers in 2015. Think about that – 290 more billionaires just this year, and it weren’t even a number when I were young. Here’s the richest person in 34 major countries around the world, which includes our Aussie champ, Gina.

5. Who burnt Jeff? Police are investigating a fire that left Clive Palmer’s giant T-Rex Jeff a smouldering framework.

Look:


The ABC reports firefighters were called to Coolum resort about 1:30am yesterday and found Jeff already well alight. Palmer said he believed the fire was started by an electrical fault, but 9 News is reporting this morning that the matter has been referred to police.

6. Size matters. If it didn’t, this story yesterday about scientists who looked at 15,000 penises to find Joe Average wouldn’t have been one of our most popular posts. But it was.

7. Who’s your hedge fund manager? If they’re on this list, you’ll be happy with how things are tripping along right now. Despite the fact that 2014 was the worst year for hedge funds since the 1.85% loss in 2011, it wasn’t hard to find 40 names in the Forbes’ billionaires list. Here they are, ranked.

8. Bali Nine duo Andrew Chan and Myuran Sukumaran will be transferred from Kerobokan prison today in preparation for executions. Three large trucks, armed officers and riot police have surrounded the prison, preventing journalists and protestors from getting too close. That means it could all happen very soon for the convicted heroin traffickers, despite yet another a last-minute attempt by Foreign Minister Julie Bishop to spare their lives. Follow our coverage here.

9. A group of protestors will try to levitate Vice’s Brooklyn headquarters into the East River today. We’ll keep you posted on how that goes.

10. Pippa Middleton is doing just fine, thanks. The Royal sister-in-law is listed as the sole director of PXM Enterprises, which had a great first year, according to the UK Express. It racked up assets totalling £229,241 ($453,000) including £211,521 ($418,000) in cash, mostly from “other publishing activities”. Pippa’s a guest columnist for Vanity Fair and the UK’s The Telegraph, and clearly a well-paid one, as it’s unlikely she made a lot out of her book Celebrate: A Year of British Festivities for Families and Friends.

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