1. Something big is coming for South Australia’s power supply today. You’ll remember the bet Elon Musk took that he could solve the state’s power problems in 100 days. We understand there’ll be a significant announcement today on energy provision for the state. Stay tuned.
2. Bonds. Always worth another reminder: the trouble always starts in debt markets, so when yields are rising in sync around the world it’s worth paying attention. Global markets were jumpy overnight and yields rose (meaning prices fell) on German, French and Italian 10-year bonds, which all jumped by around 10 basis points. US 10-year treasuries climbed to 2.37% and the Aussie 10-years rose 5 basis points to 2.64%.
3. It was a sea of red elsewhere in markets, as stocks sold off on Wall Street, and the US dollar weakened. Iron ore prices fell. ASX futures are pointing to a lower open. It’s looking like a snoozy Friday for the Aussie dollar, however, as we wait for the US jobs report at 10.30pm AEST tonight.
4. Today’s Amazon chart is brought to you by the number 29 — that’s the percentage of US consumers that starts looking for goods on Amazon. This is double the proportion that look through conventional search, like Google. And the gap is even bigger over conventional retailers.
Just another little reminder about the true 800-pound gorilla that is setting itself up in the Australian retail zoo, in its own sweet time. Meanwhile, the company might be about to rake in a billion US dollars in revenue in just over a day. As you do.
5. Microsoft is sacking thousands of salespeople worldwide. The company will cut around 10% of its sales team, leading to a reduction in headcount of around 3,000 people.
6. With North Korea building its missile strike capability, some people may be wondering what you might need to have on hand in the event of nuclear fallout. Glad you asked: we have a full guide here, but start with a radio, water, essential medications, and food.
7. Do you remember how everyone used to get excited by iPhone launches? Looking back: awkward. Anyway, with the fizz going out of iPhone upgrades, Apple looks poised to completely break its regular upgrade cycle, possibly with three phones this year. They will have new OLED screens, a newer, superior technology with darker blacks and improved power consumption. Woop?
8. However, Goldman Sachs is building a retail banking app. We know this because they’re advertising for the people they need to build it.
9. This is the world’s tallest single-family home. It’s 12 storeys, on one acre, and it’s yours for $US1.45 million (or around $1.9 million Aussie).
10. South Australia might be going big on renewables, but it won’t ever beat China’s new solar farm that is shaped like a giant panda, pictured at the top of this page.
BONUS ITEM: Here is a video of North Korean dictator Kim Jong-un standing next to an intercontinental ballistic missile loaded with combustible fuel. If you look closely, he’s having a durry. Call WH&S.
Kim Jong-un just casually strolling around while the Hwasong-14 ICBM is erected is quite something. (Wouldn't want a VIP that close.) pic.twitter.com/a3FDIenZYU
— Ankit Panda (@nktpnd) July 5, 2017
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