10 things you need to know this morning in Australia

Source: Getty.

Good morning!

1. To cut, or not to cut. All economic indicators are showing signs of strength but leading economists are seeing hints of an RBA rate cut for May. The final piece of the puzzle, Australia’s CPI report, will be released just two weeks before the RBA announcement is due. Even reluctant commentators suggest that if the inflation report is below targets, “it will be hard for [the RBA] to resist the urge to cut rates”.

2. Elon Musk refuses to lay low and it’s costing Tesla big time. Another of Musk’s outbursts has hit the news, where he allegedly told an employee, “I will nuke you”. These tantrums aren’t distracting investors from the fact that deliveries are lagging behind Tesla’s delivery guidance by 57% in the first quarter. Wall Street is predicting a steep drop.

Wall Street’s biggest bear predicts 80% drop. Source: Markets Insider.

3. Want to pay US$900 for a pair of sneakers? Why not? Despite evidence that millennials tend to value experiences over possessions, there are a few items that buck the trend. When it comes to luxury goods, rich millennials are carving out new status symbols. We’ve put together the newest trends from rich millennials and their Instagram followers.

4. Major ride-sharing company Lyft just launched its IPO at a valuation of US$24 billion. It’s the first company of it’s kind to launch, with Uber looking to launch later this month. Here’s how they came to their valuation.

Source: Business Insider/Andy Kiersz.

5. Here’s something to set your soul alight. This Wednesday, scientists are expected to reveal the first ever photo of a supermassive black hole. The project took over 200 people internationally and is the first of its kind. In fact, we’ve never even been able to “see” a blackhole, only mathematically infer its location from seeing other particles and light interact around it. Watch this space.

6. Happy (political) birthday! The China Communist Party has told its members to start celebrating the anniversary of the day they joined the party. An announcement from the Central Commission for Discipline Inspection (CCDI) instructed its 90 million members to start observing the “political birthday” by revisiting their pledge to the party.

7. Brexiteers won’t be happy with this latest S&P Global Rating report. The report shows that the UK economy has lost £66 billion since the referendum or is now “£1,000 poorer, per person, on average, than it would have been had the vote never taken place”. The EU is currently looking at options to extend the Brexit delays by another year, meaning that the parliamentary deals could potentially extend to March 2020.

8. The Ethiopian Airline’s Boeing 737 Max was delivered, brand new, in November last year. By March, the jet had crashed, creating a 10 metre crater in the ground, despite the pilots’ desperate attempts to save the plane. Here’s a timeline of how this tragedy unfolded.

9. Ecuador is getting restless about their “inherited problem”, Assange. The Ecuadorian Embassy has granted asylum to WikiLeaks founder Julian Assange since 2012, but the latest president has not taken kindly to Assange. According to a tweet from Wikileaks, Assange is in danger of being imminently stripped of protection by the Embassy.

10. Only one more week until Game of Thrones final season begins. If you haven’t found the time to go back and rewatch every single episode in order to relive the glory of GoT, then we’ve created a refresher so you’re up to speed by launch date.

BONUS ITEM: Listen up, all people who like using MS Paint over Photoshop and have been openly mocked for it. This is about to take your skills to a whole new level.

The AI learns from other images about shadowing and textures to render your sad drawings into beautiful landscapes.


You can get 10 things direct to your inbox each morning by punching your details into the form below.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.