10 things you need to know this morning in Australia

Photo: IMDb.

Good morning!

1. Australian economic growth slowed again in the December quarter, according to the Australian Bureau of Statistics (ABS). “Growth in the economy was subdued, reflecting soft household spending and a decline in dwelling investment,” said Bruce Hockman, Chief Economist at the ABS.

2. Right-wing provocateur Milo Yiannopoulos is now officially banned from Australia. According to The Sydney Morning Herald, the Australian government implemented the ban on the basis of his character.

3. Analysts say satellite photos show North Korea rebuilding nuclear infrastructure days after a summit with President Donald Trump collapsed. The images are of a long-range-missile test site in Sohae.

4. Facebook intends to start encrypting and auto-deleting messages on all of its messaging platforms. It’s part of a broader strategic shift that was revealed in a 3,000 word blog post from CEO Mark Zuckerberg.

5. Iron ore prices barely moved on Wednesday. That’s somewhat surprising given officials in Tangshan, China’s largest steel production hub, have extended industrial output curbs on environmental grounds.

6. Italy is planning to take part in China’s giant Belt and Road Initiative (BRI) trade project, the Financial Times reported. The BRI is a massive trade project, which aims to link China with countries around the world with mostly Chinese infrastructure.

7. The laptop of the crypto CEO who died with sole access to $137 million has finally been unlocked. Sadly, the money, belonging to about 115,000 customers, was already gone.

8. Deutsche Bank has cut its 2018 bonus pool by up to 15% to €2 billion euros, Bloomberg reported. That means some bankers may not get a bonus this year.

9. Shares in Nio, a Chinese firm that wants to rival Tesla, plunged after the company cut its delivery outlook and abandoned plans for a Shanghai factory. The company’s stock tanked 20% on Wednesday.

10. Facebook said “unprecedented” proposals by the Australian Competition and Consumer Commission (ACCC) aimed at protecting publishers from digital disruption would hurt consumers and advertisers. It added that they will not make journalism more sustainable.

BONUS: Incredible photos of huge dust storm sweeping across NSW

Have a great Thursday.

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