10 things you need to know this morning in Australia

YOSHIKAZU TSUNO/AFP/Getty ImagesThe economy will be strong enough one day. Maybe.

Good morning!

1. Australian businesses responded to what they thought of the federal budget. More than a dozen companies told Business Insider Australia what they made of Treasurer Josh Frydenberg’s first ever budget. While former Prime Minister Malcolm Turnbull made innovation a top priority, some business leaders are concerned that Scott Morrison’s government isn’t doing enough to help them thrive.

2. Iron ore prices surged again on Wednesday. The price for 62% and 65% fines closed at the highest level since early 2017, while 58% fines jumped to five-year highs.

3. Australia’s trade surplus hit the highest level on record in February, with the Australian Bureau of Statistics (ABS) saying it surged to $4.8 billion. It surpassed the previous mark, which was set in December 2016.

4. President Donald Trump claimed wind turbines cause cancer, reigniting a long-running hate campaign against wind power with a weird conspiracy theory. The president cited a long-discredited theory that says the renewable-energy source causes cancer.

5. WeWork has acquired Managed by Q, a platform for office tenants to hire on-demand service workers for office-management tasks like cleaning or staffing reception desks. Managed by Q was most recently valued at $US249 million in a financing round in January and had raised $US85 million since 2014, The Wall Street Journal reported.

6. Japan is giving everybody 10 days off work to celebrate getting a new emperor. A surprising number of people aren’t happy about it.

7. The proportion of Australia’s population born overseas rose to the highest level since the late 1800s, according to new data released by ABS. 29.4% of the estimated resident population were born in another country.

8. More than 100 tech unicorns could go public in 2019, according to UBS. Big name unicorns preparing for IPOs include Uber and Pinterest.

9. Instagram’s big bet on shopping could be worth US$10 billion in 2021. That’s according to analysts at Deutsche Bank.

10. Facebook said a video from far-right activist Faith Goldy doesn’t qualify as white nationalism. The video claims that white populations in majority-white European and Western countries are being rapidly replaced by nonwhite people. The conspiracy theory that white populations are being squeezed out by nonwhite ethnic groups is a white nationalist trope.

BONUS: Former US Vice President Joe Biden responded to sexual assault allegations in a new video.

Have a great Thursday.

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