10 things you need to know this morning in Australia

Nae. Picture: BrewDog

Good morning.

1. Caterpillar was down as much as 2% in overnight trade Wednesday morning, and down 8% for the week. GE – down 1.13%. Boeing – down 0.81%. Welcome to the reset for industrial stocks as the US President pushes harder for trade tariffs. But steel stocks are doing well enough – in the US – as the departure of Trump’s top economic advisor Gary Cohn stokes fears of a looming global trade war.

2. Some are saying Cohn’s departure “leaves a massive void that could push Trump toward the fringe“. The toll continues to climb:

Trump staff turnover rate brookings
A chart from the study Screenshot via Brookings Institution

Although it has some way to go to top Obama’s third year. And in a disturbing update to the US President’s alleged affair with a porn star in 2006, the Stormy Daniels’ lawsuit hints at “photos and texts” from their alleged steamy hot love trysts. Ew.

3. Global stocks barely cared about Cohn’s departure. And US stocks have clawed back early losses in the overnight session while European stocks rose, led by gains of 1% in Italy and Germany. The US dollar traded flat and the Aussie held firm around 0.7790-0.7830 US cents, while gold gave back most of the gains it made after yesterday’s jitters. In data today, Australia has the balance of trade report for January at 11.30am. There’s talk of a return to surplus.

4. Happy International Women’s Day:


Some brands got it right, like the McDonald’s franchise above. Some got it wrong. Badly, like BrewDog with its “beer for girls”. And here’s Australia being a better place than New Zealand in which to be a woman.

5. “Binance just sold all my alts at market ‎rate and I have got just the Bitcoin now.” Welcome to the nightmare every crypto trader dances with. That’s one Redditor who may have been victim of a rumoured hack of major crypto exchange Binance. The price of bitcoin fell off a cliff immediately and is still down around 8% overnight. And while it’s kind of interesting to hear former Mt Gox CEO Mark Karpeles lament his own nightmare over losing $8 billion in customers’ bitcoin in a 2014 hack, you really need to stay for the story about his passion for quiche.

6. Well, you can’t say double-spy Sergei Skripal wasn’t warned. BBC has footage of Russian President Vladimir Putin in 2010:
But that doesn’t make killing people, and their daughters, and probably a cop, right. All involved are seriously ill after it was confirmed they were poisoned with a nerve agent in Salisbury, south England, on Sunday. The police officer who is also seriously ill may have been one of the first responders at the scene. And now, according to Russia experts, Russia is dangerously close to becoming Britain’s outright enemy.

7. How does Uber make money? By underpaying drivers, obviously. At least, according to this study by economist Jim Stanford at the Australia Institute’s Centre for Future Work. He found that the average UberX wage in Australia came to $14.62 per hour, well below the national minimum wage of $18.29 per hour. That’s “disruption” for you.

8. If you want to see something incredible the F-35B can do at sea, this is the 30-second clip you’ve been looking for. And the US Air Force has just announced the new stealth bomber, the B-21 Raider, is headed for Edwards Air Force Base in southern California for testing.

9. Would you just look at these doggos having the very best time of their lives:

A post shared by atpworldtour (@atpworldtour) on

There are more pics here

10. Love Shazamming all the songs? The get ready to Shazam the world. Pixel 2 users have had access to Google Lens for months, but Lens is now being rolled out to every Android device with Google Photos installed. It’s got a few bugs, but is generally ace. And iPhone users are also in line for it. Here’s how Lens will answer all your questions, just by taking a photo.

BONUS ITEM: Amazon says it’s working on not freaking the hell out of Echo device owners:

Have a great day.

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