10 things you need to know this morning in Australia

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Good morning.

1. The Australian dollar pushed higher amidst choppy trade on Thursday, helped by stronger-than-expected Australian economic data and profit-taking in the US dollar ahead of Friday’s US jobs report. At 7am AEST, the AUD/USD was up 0.48% to 0.7530.

AUD/USD 5-Minute Chart

It comes as traders prepare for a big day ahead with updated economic forecasts from the Reserve Bank of Australia (RBA) at 11.30am AEST, and April’s US non-farm payrolls report at 10.30pm AEST.

2. It’s a historic day for iron ore markets. Today marks the first time foreign investors will be able to buy and sell Chinese iron ore futures. Meanwhile, Chinese iron ore and rebar futures fell in overnight trade, hinting that spot markets may follow suit in early trade on Friday. Trade will get under way from 11am AEST.

3. The federal budget is just around the corner, so we’ve compiled a list of all the things we know is in it so far. From personal income tax cuts, to no rise in the Medicare levy, big spending infrastructure projects, and a wind-back of tax benefits for the research and development scheme, Business Insider’s Chris Pash has all the details here.

4. “000”. A serious network issue is preventing people from being able to call the triple zero emergency number in major capital cities across the country. Telstra said a cable was cut early on Friday morning, causing phone issues in four states. A repair crew has been dispatched to the incident. NSW police are also monitoring the problem and supplying the public with an alternative number.

It comes after Telstra customers across the country were unable to make or receive calls for about three hours on Tuesday after an outage affected the telco’s NBN and 4G networks.

5. Peeing in rubbish bins, constant surveillance, and asthma attacks on the job — these are just some of the horror stories Amazon workers have told Business Insider about working in the company’s warehouses. This story echoes an investigation by James Bloodworth, who went undercover as a worker in an Amazon warehouse in the UK in 2016 for a book on low-wage jobs. Bloodworth told Business Insider he once found a bottle of urine on a shelf, saying people would pee in them because they feared that a bathroom break would take too long and would cause them to miss their strict targets. Did we mention Amazon is building a massive warehouse in Sydney?

6. Twitter is telling everyone to change their password after a bug left around 330 million passwords exposed. Twitter discovered the glitch itself, and did not find any “breach or misuse by anyone”. Despite that, to be safe, Twitter is advising users to change their current password. The company also said it is taking steps to ensure the bug does not happen again.

7. A manufacturing revolution is on the way, according to Tesla founder and CEO Elon Musk. During the company’s first-quarter earnings call today, Musk said the Model Y “is going to be a manufacturing revolution”, doubling down on automation despite the fact that Model 3 production was delayed because of problems with new automated manufacturing systems at the Gigafactory. He also announced the Model Y would launch in 24 months, so around May 2020, and that Tesla’s Uber-like car service will probably arrive by the end of 2019.

8. #GetNZonthemap. A New Zealand tourism campaign starring Prime Minister Jacinda Arden and comedian Rhys Darby is going viral. The video, which shows Darby investigating a conspiracy involving New Zealand being left off world maps, features digs at Australia for “stealing our tourists”, the French for taking their wine, and the English for trying to get the All Blacks out of the Rugby World Cup. And it looks like it’s just the first instalment.

9. A school in Auckland is under fire after handing out booklets to students that provides advice on how to take meth safely. While the parents are up in arms over the decision, the school and health experts say they are trying to combat a growing problem. Drug Foundation executive director Ross Bell said: “People would be living under a rock if they didn’t think there wasn’t a meth problem in New Zealand.” Stuff.co.nz has more.

10. Karate Kid fans, this one is for you. The classic 1980s movie, “The Karate Kid”, has been rebooted with the original cast members in the YouTube Red series, “Cobra Kai”. The 10-episode series dusts off the original film and brings it to the present day by looking at where the characters ended up after the movie. We know what we’re doing this weekend. Here’s a snippet:

BONUS ITEM: Millennials, I hope you are seated. Avocado vegan icecream is now a thing — and it looks amazing.

Have a great weekend.

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