10 things you need to know this morning in Australia

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Good morning!

1. Shares of Deutsche Bank dropped more than 4% on Monday after the bank announced a major restructuring that would see 18,000 people lose their jobs by 2022. The restructure comes after the bank’s proposed merger with Commerzbank fell through.

2. An Australian Fortnite gamer has admitted to assaulting his pregnant partner in an episode that was recorded during a live stream in December 2018. Luke James Munday pleaded guilty to the assault and will be sentenced on August 26.

3. Instagram is rolling out two new features to try and crackdown on bullying. The app will let users “restrict” people’s comments with a mute-style feature and will use AI to flag offensive comments before they’re posted.

4. US President Donald Trump said on Monday he would “no longer deal with” the United Kingdom’s ambassador to the US after leaked cables revealed the British diplomat criticising the president. In the leaked correspondence, Sir Kim Darroch said of Trump and his administration, “We don’t really believe this Administration is going to become substantially more normal; less dysfunctional; less unpredictable; less faction riven; less diplomatically clumsy and inept.”

5. Australia’s largest online jobs portal SEEK has invested $22 million in HR firm Employment Hero. The funding takes Employment Hero’s valuation to more than $100 million as it begins to target global expansion.

6. US stocks take a tumble. US stocks fell on Monday after a stronger than expected employment report called into question the need to slash interest rates.

7. Experts believe tensions between US President Donald Trump and North Korean leader Kim Jong Un may have played a role in Australian student Alek Sigley’s detention. But while an international relations scholar from La Trobe University said North Korea likely knew of Sigley’s activities on social media, the North Korean media accused Sigley of conducting ‘spying acts’.

8. Co-working space provider WeWork is reportedly looking to raise between US$3 billion and US$4 billion in debt before it goes public sometime in 2019 or 2020. However, the debt could grow to as much as $US10 billion over the next few years.

9. A self-driving chip is on the way for older Tesla models. Tesla is set to start installing the chip it designed to make its cars autonomous on vehicles that don’t already have it. All vehicles made around the end of 2016 are able to receive the self-driving chip.

10. Apple’s iOS 13 takes on user health. Apple’s Health app is getting a major upgrade in iOS 13, with more insights into a user’s activity levels and the ability to monitor hearing health.

BONUS ITEM

This viral brain teaser was developed by Hungarian artist Gergely Dudás. Can you spot the penguin hidden among the flock of toucans?

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