10 things you need to know this morning in Australia

Good morning.

1. This weather. As Sydney’s multimillion dollar beachfront dream homes think about sliding into the sea, an entire working class suburb in Launceston, Tasmania, is this morning underwater. Invermay, affectionately known as “The Swamp”, copped the brunt of several flooded rivers all flowing into the Tamar River basin at once. Here’s a typical view of the city’s Cataract Gorge in summer:

Here’s how it looked yesterday:

Residents were being evacuated last night and floodgates were installed on the two bridges that join it with the CBD. Across the north of the island state, one man has died and two others are missing due to the flooding, and levels are just peaking this morning. It’s being compared to the deadly flood of 1929 which saw 22 people lose their lives. Here’s some more then and now pics.

2. To markets, and there’s a creeping feeling that US stocks might keep rising. The S&P closed at 2112 – the highest for the year, but it didn’t translate here. The June SPI 200 is down 18 points, -0.3%, after yesterday’s disappointing close at 5371. Crude pushed above $50 and iron ore’s little bull run looks like it’s already over. The big winner was the Aussie dollar. It gained more than 1.2% after the RBA left rates on hold and at 0.7453 it looks strong but faces formidable resistance at 0.7490/0.75 today.

3. So yeah, we didn’t get a rate cut yesterday, which surprised no one. But plenty were surprised by how strong the RBA’s final statement was which said cut “could complicate the adjustment under way in the economy”. That means we won’t get one any time soon, either. But here’s a thing – interest rates have been dropping like flies in countries all over the world the past couple of years. And nowhere is there any evidence it’s working.

4. We’re looking for a technology editor. Someone who’s got a few years’ experience and is keen to work for the best business media brand in the country. (That’s us.) Must be ambitious, into social media, have great ideas and can execute them quickly and cleanly. Tesla not included but there’s a fair chance you’ll drive one. There’s more details here, including how to apply.

5. In our world of First World Problems, the worst has to be when you get a notification someone’s gone Facebook Live. So imagine how horrible it’s going to be when you get a notification that Malcolm Turnbull and Bill Shorten have gone live and are having a debate. Kill me now. So here’s how to turn Facebook Live notifications off.

6. Man flu is real. Science just confirmed what half the population already knew.

7. Daniel Radcliffe – Harry Potter – spent a day riding around with a “dead” version of himself in a double-decker bus around New York:


That’s Radcliffe on the left. It’s all a bit “Weekend at Bernie’s”, but seeing as his new movie “Swiss Army Man” has him playing a dead man, we guess it’s fair game. Not such fair game are the stunts ad agencies have been caught pulling to get publicity for their preferred clients. A bombshell investigation by the Association of National Advertisers (ANA) published Tuesday claims agencies are taking secret rebates from media owners and not disclosing them to clients.

8. It’s been a while since Warren Buffett started a new business, but 50 years ago he created Berkshire Hathaway and now it’s worth $350 billion or so. So you might like to hear his number one piece of advice about what to keep in mind – always – when you’re starting your empire.

9. The next MacBook Pro is shaping up to be incredible, so if you’re thinking about buying one right now, wait. Apple is apparently planning to redesign its professional-level line of laptops, according to a growing amount of evidence including a leaked case and a report from Apple soothsayer Ming-Chi Kuo. The biggest rumoured change is that it will include a touchscreen as part of its keyboard. Here’s how it might look:

We have more innovations, which may or may not happen, here.

10. And finally, you can stop waiting for Donald Trump to “change”. What you’re seeing is the real deal, and you need to prepare for it to become the Leader of the Free World. By making fun of it all the time, like Meryl Streep just did in perhaps the best Trump impression we’ve seen.

BONUS ITEM: This fish, looking mortified that it got caught by a jellyfish:

Picture: Tim Samuel Photography

Photographer Tim Samuel and videographer Franny Plumridge snapped it while freediving in Byron Bay, Australia. Delightful – and there’s more at Tim’s Instagram page.

Have a great day.

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