10 things you need to know this morning in Australia

Rich people – unscrupulous. Picture: Warner Bros

Good morning.

1. And it’s Rates Day. RBA governor Glenn Stevens’ last rates day, actually, after presiding over 109 monetary decisions. He’s called in 18 rate cuts and 12 rate increases in nine years at the helm, but most impressively, that’s nine recession-free years. No one’s expecting today to mark Stevens’ 31st policy shift, but as always, pundits will be watching that final par of the Monetary Statement for clues. Here’s your 10-second guide to today’s call.

2. To markets and the whole world’s talking about the Russians and Saudis finding a way to work together on oil production. In other words, no cheap petrol for Christmas. Stocks and forex traders stood up for a second, then went back to their desks. SPI traders watched falls in the UK, German and French markets and pointed September futures toward a fall of 23 points on the local today, which would take a decent bite out of yesterday’s 57-point rally.

3. What’s Snapchat’s next move? Most probably something to do with Bluetooth, going by this little find from the FT:


That’s just popped up on the Bluetooth Members Directory page. And given Snapchat has in the past mumbled things about AR and even bought a Google Glass-like startup, you can probably start to join some dots.

4. Election promises. When Philippine President Rodrigo Duterte swept into office earlier this year, he did so declaring war on drug dealers and users. He wasn’t kidding. Between July 1 and August 20, about 900 people were killed in police operations, with another 1,100 people killed in “incidents unrelated to police operations”. Those “incidents” are carried out by ordinary citizens. Duterte himself claims to have shot three drug dealers when he was a small town mayor, and encourages regular Filipinos to do the same:

“Please feel free to call us, the police, or do it yourself if you have the gun — you have my support.”

It’s brutal. Here’s housewife-turned-contract-killer Maria’s story.

5. Soc Gen’s quarterly “black swans” chart is out, mapping what the investment bank believes are the biggest risks of complete disaster for the global economy and markets. The risk of a China hard landing has decreased but global policy uncertainty remains the key problem, with a 30% chance that this will be the cause of a wave of economic chaos. The most obvious candidate is the November election in the US. Anyway, here’s the chart:

Soc Gen

6. We’re just two days away from a new iPhone. There’s been a lot of talk about how “boring” it will be, but Kif Leswing only cares about one thing – it could come in black, for the first time since 2012. And the latest rumour is it might have the kind of waterproofing Apple Watch owners enjoy.

7. This is what happens when you decide you don’t want to be in the team any more:

Picture: Getty Images

The new Brit PM was relegated well away from Angela Merkel and Barack Obama for this year’s G20 family shot. Now, that might just be because she’s kind of new, and more experienced leaders generally get front row honours. But then, speaking of new, here’s another cold shoulder the UK will have to get used to:

8. Podcasts are great; it’s why we have our very own. There’s a lot to be learnt from listening to experts and right now, few know that better than Aaron Fifield, who wanted to learn how to trade. But Fifield took an unorthodox route – instead of listening to podcasts, he started his own and invited the world’s best traders to chat. He even called it “Chat with Traders”. So Greg McKenna, a fan, caught up with Fifield to find out exactly what he’d learned.

9. Here’s an interesting bit of data. Crime in NSW is at 20-year lows, but shoplifting is up 6.3%, and has trended that way for four successive quarters. But where retail theft is up most is the real eye-opener. Try 22.1% in the Eastern Suburbs, 20% in the Northern Beaches, 18.6% in Sutherland and 14.8% in the Inner West. Yep, Sydney’s richest are now also its biggest thieves.

10. Ever wondered why aeroplanes have tiny holes in the windows?


(Hint: It kind of saves your life.)

BONUS ITEM: Well, well, well. Look who we found hiding under a crack:

Caught you. Credit: ESA/Rosetta/MPS for OSIRIS Team

Have a great day.