10 things you need to know this morning in Australia

Twitter/ @JesselansnerJeff Bezos

Good morning.

1. Eight boys have now been saved from the Thai caves following the 2nd day of the rescue. The remaining five people will have to wait at least one more day to get out. See photos show the rescue efforts here. At this rate Elon Musk’s tiny submarine, which is on its way to Thailand, may not be needed by the time it arrives.

2. The Australian dollar is charging higher as confidence improves around the world. The Aussie recorded the strongest gain against the British pound on the back of renewed political uncertainty in the UK. At 7am in Sydney, the AUD/USD was up 0.48% to 0.7464.

Investing.comAUD/USD Hourly Chart

3. Brexit fights have thrown the British government into disarray. Three members of Prime Minister Theresa May’s cabinet – Boris Johnson, David Davis and Steve Baker – resigned over the past day amid negotiations on how to move forward with the controversial plan to leave the European Union.

4. Economic benefits from US President Donald Trump’s sweeping tax overhaul could fall short of expectations, according to Fed officials. Many analysts are “overly optimistic” about the $US1.5 trillion tax-cut law passed last year, economists at the San Francisco Federal Reserve said in a new report.

5. Reddy Stop. One of Sydney’s major dockless share bike operators has been forced to shut up shop due to “regulatory factors”. Reddy Go has told members it is “re­structuring” its business model and is offering two bikes — free — to each of its customers. The Australian has more here. It follows reports that Ofo, the Chinese-backed bike sharing company has also called it quits.

6. A new survey of crypto experts by New York law firm Foley & Lardner has found most respondents think ethereum is a better investment than Bitcoin.

Which cryptocurrency provides best investment opportunity foley lardner chartShayanne Gal/BI Graphics

It comes as Google co-founder Sergey Brin revealed that he has been mining ethereum with his son.

7. An exclusive conference for tech and media moguls kicks off Wednesday in Sun Valley in the US. Expected attendees of the annual event, hosted by investment firm Allen & Co., include Amazon’s Jeff Bezos, 21st Century Fox’s Rupert Murdoch, and Facebook’s Mark Zuckerberg. It’s the same event that last year produced this photo of Bezos which turned into a viral meme:

8. Goldman Sachs once again changed its World Cup predictions — and is now forecasting a Belgium-England final. The investment-banking giant forecasts that Belgium is now the team most likely to win the World Cup – with a 32.6% likelihood (with 4 teams left, you’d surely be hoping for slightly better odds). It changed its prediction after Belgium defeated Brazil in the quarter finals. You can see Goldman’s full updated bracket below:

Screen Shot 2018 07 09 at 13.15.33Goldman Sachs

9. The world’s fastest road-race bike. The $US13,000 SystemSix from Cannondale, is being used by the US’s Taylor Phinney at this year’s Tour de France. “The SystemSix is super fast – a noticeable difference from any other bike I’ve ridden,” Phinney said. “For a rider my size the stiffness of the frame is awesome … And it just feels like you’re almost cheating, which is a beautiful feeling.” Here’s a look at it.

Daniel McMahon/Business InsiderThe SystemSix

10. A 600 kilogram croc has been caught after a decade-long hunt in the Northern Territory. The male saltwater beast, which measures at 4.71 metres long – as long as the average family car, was trapped by rangers in the Katherine region yesterday. Here’s just how big it is:

Have a great day.

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.

NOW WATCH: Briefing videos

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