10 things you need to know this morning in Australia

Something about shake the devil’s hand. Picture: Getty Images

Friday! Let’s get it started.

1. Iron ore bombed. Oil sank. Bitcoin plummeted. Oh my.

2. So yeah, markets took a hit overnight. And after tumbling 0.74% yesterday the ASX200 will struggle for momentum, with June Futures 8 points down. But Macquarie Bank is laughing all the way, posting a record full year profit of $2.21 billion. In data, we get the RBA’s minutes from its May monetary policy meeting, and tonight’s ADP payrolls report in the US will be huge. A good number all but makes a June rate rise a lock.

3. The art of the deal. US president Donald Trump got his American Health Care Act past the House, and he had every right to smile smugly, given he’s only four months into a four-year term. Next stop, the Senate. But right now, he’s winging it to the USS Intrepid in New York to meet Malcolm Turnbull after leaving the Australian PM hanging for a few extra hours. And there’s a fair hoard of protestors waiting to heckle him, too.

4. The Berkshire Hathaway 2017 Annual Shareholders Meeting kicks off this weekend. You can count on some investing gems from Warren Buffett, like this brilliant explanation of how bubbles are formed. And if you’re still not sure whether this Buffett guy knows what he’s on about, here’s what a stock price increase of 1.3 million per cent looks like against the S&P 500 since Berkshire opened for business in 1964:

5. UBS doesn’t believe in Elon Musk. After Tesla’s lacklustre first quarter results, UBS analysts kept their “Sell” rating on the stock and reset its target at $US160. That’s 46% below the current level. But that’s understandable when Musk pulls rugs out like he did yesterday when he said the Model Y will be made on a different platform than the Model 3.

6. Startup reality. You might know David Koch as the host of Sunrise, the odd Home and Away cameo and for supporting the wrong Adelaide AFL club. But he’s also one of the most accomplished finance journos this country has produced and a savvy business operator who’s now dipping into content with his family business, Pinstripe Media. On Saturday, Pinstripe launches a six-part series that’s worth a look for any potential startup founder who wants to know what it’s like to come through the muru-D accelerator. It’s called The Dream Academy and it’s on 7 at midday.

7. Buckingham Palace tried to troll everyone yesterday, but no one fell for it. Almost no one:

Prince Phillip finally retired, at 95, and when you consider the stupendous amount of public appearances he probably had booked in over the 12 months, it’s no surprise that all the Buckingham staff had to assemble to prepare for the announcement. But at least we got to see all the “Prince Philip’s gaffes” stories rolled out for the second last time.

8. Life doesn’t get much lower than that moment you realise you’ve got a middle seat on the plane and there’s nothing you can do about it. Here’s an incredibly detailed rundown of all the ways to make sure it never happens again.

9. Thinking about having a kid but not sure if you’re ready? You need to know that for starters, “ready” doesn’t apply. But this simple question can help you and your partner sort one important issue out before you take life’s deepest dive.

10. The VP of HR for IBM Watson had this to say about some of his hires:

“I’ve had individuals who weren’t applicants, who I just met at a cocktail reception, and I offered them a job

This is how you can stand out just like that.

BONUS ITEM: If you’re now thinking maybe you’re not ready for kids, here’s the kind of stuff you’re missing out on:

Have a great weekend.

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