10 things you need to know this morning in Australia

A tragic day. Picture: Getty Images

1. Adelaide Crows coach Phil Walsh was found dead this morning, allegedly murdered by his 26-year-old son. Police confirmed Walsh was found dead after they were called to a house in the Adelaide suburb of Somerton Park just after 2am. He was treated at his home but died at the scene. His wife also received “non life-threatening injuries”. Walsh was appointed coach of the Crows in October last year after Brenton Sanderson was sacked. We’ll be updating this throughout the day.

2. To the markets, where the ASX had an interesting day yesterday, up for the third session in a row on the back of some solid gains for the banks and miners. Fortescue was up more than 4%, (iron got smoked overnight) but the big news was the huge rally in Pacific Brands, up around 50% and the 26% rise in Bluescope. Overnight futures traders are again suggesting that prices will fall today.

3. In Asia yesterday we saw more weakness in the Shanghai composite, which fell 3.49%. It could have been worse with the market down more than 5% at one point and it seems there is nothing the authorities can do to stop stocks from falling. Greg McKenna reckons the loudest sound in Shanghai at the moment is the sound of air rushing out of the bubble. The question now is where the market will find support.

4. Greek PM Alexis Tsipras never wears a tie, in case you hadn’t noticed. He’s not just a hipster, either. He’s sworn not to wear one until this mess is sorted, and there’s a ton more interesting things to learn in Shane Ferro’s rundown of how Alexis Tsipras rose from high school activist to Prime Minister of Greece.

5. While we’re on Greece, banks are down to their last 500 million euros. The head of the Hellenic Chambers of Commerce told The Telegraph that:

“Anybody who thinks they are going to open again on Tuesday is day-dreaming. The cash would not last an hour.”

But Tsipras’ hopes his people will vote against the crippling reforms demanded to pay the debt in a referendum this weekend, and it seems like the IMF just gave him a huge boost by admitting Greece’s debts need restructuring.

6. How good is bubble wrap? It’s fun to pop, it relieves stress, and it protects your stuff. So that’s why this new version of bubble wrap will disappoint everyone’s inner child – you can’t pop it. Why? Because someone evil found it’s easier to transport uninflated.

7. But if the thought of that brings your day down, at least you’re not this python in an African zoo which died after swallowing a massive porcupine. (Or this porcupine which was swallowed by a python):

But there’s a bit more to this than the obvious story. Zookeepers say pythons are well-equipped to swallowing porcupines, but in this one a survival mechanism which kicks in when they’re frightened – say, when loads of people gawk and take pics – may have killed the snake.

8. Here’s the handbrake on Australia’s economic transition nobody saw coming. We’ve got more people in work than any time before, but according to ANZ’s latest Quarterly Research note, “in the context of OECD economies, the extent of the slowdown in wage growth in Australia has been surprising”. So everyone’s got a job, but businesses are screwing us all out of the wage we need to keep the economy ticking over. Huh. That’s global competitiveness for you.

9. Do you hate rich people, thinking they’re so good and clever with all their money? Then it’s also likely you’d like to be rich too and have an internal conflict called “money ambivalence”. That sets you up for failure, says psychologist and financial planner Dr Brad Klontz, who has some advice on how to avoid it.

10. It’s a big night for the Aussies at Wimbledon. Bernard Tomic gets centre court as he takes on world number one Novak Djokovic, Nick Kyrgios is on Court Two against Milos Raonic and Sam Stosur is on Court Three against American Coco Vandeweghe. Overnight, Sam Groth and Casey Dellacqua progressed, giving Australia five players in the third round for the first time since 1999.

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