10 things you need to know this morning in Australia

1. This mining life. In London trade, Rio Tinto fell 7.92%, BHP dropped 6.085%, Anglo American plummeted 13.84%, Vale lost 8.65% and Glencore – which took a slice of Atlas Iron yesterday – slid 8.96%. And the spot iron ore price was hammered, falling by over 5%, following the Chinese futures, which closed down 6%. And that was only because 6% is the most it’s allowed to fall. So yeah, Scott Morrison’s Budget forecasts are already looking wobbly.

2. As is the ASX today, due to all that mess above. Offshore markets are only down a little, which is surprising when you chuck in China’s weak data from the weekend, but the wash-up is the SPI 200 June contract is down 16 points and pointing to a weak day on the ASX 200. The dollar’s under pressure, threatening to break below 73 cents.

On a side note, oil was down too. Because the Canadian wildfires shifted away from key production zones. You people.

3. Hyperloop is real. Elon Musk’s idea for a transportation system will one day fling passengers in and out of San Francisco through tubes at up to 1200km/h. Critics say it’s dangerous and will never happen, but one company trying to make it real, Hyperloop Transportation Technologies, has just revealed it will use a passive magnetic levitation system. But don’t confuse them with Hyperloop Technologies, a whole other company that has a “huge announcement” to make this week:


So two announcements within hours of each other from two companies competing for the same foot in the door. Which means one announcement must be flaky and rushed. We’ll find out which tomorrow.

4. Frank Abagnale, the con man who was played by Leonardo DiCaprio in “Catch Me If You Can”, now works for the FBI. He just told AARP’s Hugh Delehanty that you should just assume your identity is stolen, because it’s “amazingly simple” to steal. Then he gave a frightening example of how quickly he could clean out your bank account if you ever made the mistake of giving him a cheque. Moral – throw away your chequebook. Now.

5. Wait, what:

Suddenly, we’re in the middle of one of the most militarised regions in the world. And stuff is heating up.

6. Microsoft has hit $US1 trillion in all-time revenue, and with more profit than Apple, which made the mark last year. For some perspective, both are $US600 billion ahead of Google.

7. Do you look around your workplace and see other employees that you aspire to be? No? Then here’s why it might be time to find another job, according to this disrupting robo-adviser GM. And when you’re being interviewed for that new job, don’t forget to ask this question – it’s the most impressive ever heard by former Goldman Sachs hiring manager Becca Brown.

8. HBO has had a gutfull of you pirating “Game of Thrones”. Yes you, Australia, the most piratey pirates in the world. According to TorrentFreak.com, HBO has enlisted an anti-piracy partner, IP Echelon, which is sending out thousands of copyright warnings – and the takedowns are happening at an incredibly fast rate, often minutes after they appear. And HBO is especially unhappy with a certain Spanish YouTuber who’s obviously got someone on the inside and has been leaking plots before the shows have aired.

9. A man used a power drill to eat corn on the cob. We thought you’d like to see it:

10. Let’s talk about mining once more. But space mining, which is exciting and happening. Yes, asteroid mining company Deep Space Industries is going in, and last week signed an agreement with the tiny European country Luxembourg to further its plans to drill nearby asteroids for resources like water and minerals. Here’s why everyone’s suddenly interested in space rocks, and why it’s all so contentious.

BONUS ITEM: The track you were waiting for to see if Axl Rose could ever prop up AC/DC.

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