10 things you need to know this morning in Australia

Today’s episode: ‘The Trumps go to China’. Picture: Getty Images

Good morning.

1. Australia’s fastest broadband is in Geelong, Victoria, on the iiNet network. Speed test firm Ookla ran the ruler over 16.3 million performance tests by Australians over the past six months to find that out, and also discovered Australia’s average download speed was 24.12Mbps. Overall, Optus was the best performer, but Telstra won in the peak period between 7pm and 11pm. You can see the full results by city and provider here. And in (more) bad news for the NBN, Australia has the 5th fastest mobile internet in the world.

2. Bitcoin pundits were setting up for another major split in the currency, known as SegWit2X, but it’s been suspended. Result:

That kind of action makes a Bitcoin broker’s desk one of the hottest seats in currency markets right now. Kevin Beardsley, the managing director at cryptocurrency brokerage B2C2, said they “got a call for a $US50 million trade last week”. Another trader said their average transaction now was “well north of $US100,000”.

3. While we’re on Bitcoin, Nouriel Roubini, who gained fame after predicting the 2008 financial crisis, is living up to his Dr. Doom nickname when it comes to cryptocurrencies. He’s joined Jamie Dimon and the rest of the doubters to say the bubble “will find its end”. But how big is this “bubble” everyone keeps warning about? If 21 million BTC sold right now for $10,000, there would be $210 billion at risk. That’s barely a 10% deflation in Sydney’s property market.

4. New Zealand kept rates on hold at 1.75%, as expected, but the RBNZ pointed out that it wasn’t sure how the new government’s policies will impact the economy. So the Kiwi dollar is enjoying some up time, for now, and the Aussie is also clawing back some gains. The greenback is headed back down while uncertainty over the Trump tax bill remains, but it’s still doing better then the UK pound, because Theresa May’s Tories are a rabble. US tech stocks made some big gains and there’s now a futures index allowing investors to trade 10 of the biggest tech stocks in the world.

5. One year after Donald Trump shook the world by winning the election no media gave him a chance of winning, some cracks may have finally started to show. A wave of local and state elections in the US this week saw New Jersey and Virginia pick Democratic governors. In Virginia, the elected included:

But is it really a “tidal wave”? Virginia was one of the states Trump lost in the general election. And New Jersey was tainted with Chris Christie, one of the most unpopular governors of all-time, particularly after he closed a beach on a public holiday, then was snapped enjoying it with just his family and friends on the same day. And it’s less than three months since the Democrats couldn’t defeat a guy who body-slammed a reporter while on the campaign trail.

6. Meanwhile, in Australia:


A nation cringes. Sorry Sam.

7. “It’s not a fat, it’s not a protein, it’s not a carb, but your body gets fuel from it.” It’s ketones, the molecules your body releases when it has burnt all the carbs and begins digging into its fat stores for fuel. And now, with the help of $US60 million in research from Oxford University, you can buy it in a bottle from San Francisco startup HVMN. Of course, we tried it.

8. Prediction – by the time the 2028 Olympic Games rolls into LA, there will be “heavy use” of flying cars in the city. But that’s not our prediction, because we remember the last time an Olympics were held in LA:

That was 32 years ago. And the “heavy use” statement is from Jeff Holden, Uber’s chief product officer, who was in Lisbon outlining his plans to have UberAir’s flying cars on the commute scene in LA by 2020. UberAir = HilAir.

9. Microsoft just unveiled the first offspring of its $US26 billion acquisition of LinkedIn – a resume creator. Resume Assistant is a Word feature that uses LinkedIn to find how other people with similar job titles describe their skills and responsibilities. And copies them aligns your resume accordingly. It looks like a powerful tool – watch it in action.

10. If you’re into innovation and new businesses, you’re probably already looking forward to the NewCo festival. This year’s event is in Melbourne from Nov 22-23, and will host companies such as Amazon Web Services, Chobani, Lonely Planet, Deloitte, REA Group and Telstra. It’s an excellent place to connect with industry leaders and we have 10 tickets up for grabs. VIP tickets. You’ve got eight days left to enter.

BONUS ITEM: In response to US Today’s PSA that guns might soon have chainsaws attached, here are the most alarming modifications:

Have a great day.

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