10 things you need to know this morning in Australia

The duck’s guts. Picture: Warner Bros

Good morning. Here it comes.

1. The big news today is John Singleton and his reaction to being stirred up for liking a glass of rosé. News Ltd got the jump – and the reportedly $10,000 pics – on the millionaire slashing at Fairfax Media director Jack Cowin’s ear with a broken wine glass at the end of a long, boozy lunch. Noiseworks lead singer Jon Stevens was there. But the best bit came later when Singo related the story to the Daily Telegraph – in the third person:

“Singleton’s new lapse in class was not appreciated by Cowin, the world’s newest billionaire, so he actually whacked Singleton over the head with the chair. Cowin then realised his mate was unappreciative of his reaction and hit him over the head with another bottle. Despite this, Singleton grabbed the next glass from the floor and slashed Cowin’s ear. The two then settled down to another eight bottles of wine and 20 beers each.”

It’s an amazing story. Read it all here, where you’ll also see pics of the action unfolding.

2. Budget 2015 is just hours away and perhaps with it, Joe Hockey’s future as Treasurer. Here’s what we know will be in it – good for startups and SMBs, bad for Netflix users – and here’s how and when we’ll know if it’s a good one.

3. This won’t hurt. The price of iron ore price has now jumped 34 per cent in past month. It’s now above Hockey’s MYEFO forecast and every move up from here is gravy for the Treasurer. It’s not looking so good for the oil barons though, with this OPEC forecast which says you can forget about $100 oil for at least the next 10 years.

4. To the markets, where locally, the ASX couldn’t run with an Asian herd buoyed by the PBOC rate cut in China. So yesterday, the market ended flat. As expected, the miners did better with the iron ore price up again but there is almost no way to overcome the weight of bank selling on the index when it happens. That leaves it resting near the 200-day moving average and at real risk of a break today given the US and European lead. Technical targets of 5500 and 5300 are coming into the frame.

5. On currency markets, the sell-off in bonds and what it says about monetary policy has helped the US dollar in the first full day of trade for the week. The euro is back down below 1.12, the Aussie is under 79 cents and USDJPY has drifted back above 1.20. The Kiwi is a big loser at 0.7330, which has driven AUDNZD back up to 1.0747. Parity anyone?

6. Amazing Story II: Elon Musk is worth $13 billion but doesn’t have a home in Silicon Valley. He’s an LA man and sometimes, when he has business in the valley, he calls on an old friend – Larry Page. “He’s kind of homeless, which I think is sort of funny,” Page says in a new book about Musk. “He’ll email and say, ‘I don’t know where to stay tonight. Can I come over?’”

7. It’s time to fall back in love with barbies. Firedoor is the charcoal grill and wood-fired restaurant Sydney’s wanted for a long time. Here’s why.

8. Mad Max reviews are in. George Miller’s made two movies in the past 17 years – “Babe: Pig in the City” and “Happy Feet”. So by all accounts, the fourth Mad Max film, out tomorrow after years in production hell, is a bit of a rage outlet for the Aussie film legend. From 34 reviews on Rotten Tomatoes, it’s running at an impressive 100% fresh. Here’s our review.

9. Do you have a photo on your LinkedIn profile? You should have – employers are 14 times more likely to check you out. So get cracking and use these 7 simple LinkedIn photo tricks which will dramatically increase the chances of landing your dream job.

10. Amazing Story III: So there’s some British fisherman trawling in the Irish Sea when suddenly, something big gets caught in their nets. As in, big enough to start pulling their 80-tonne trawler backwards, like in “Jaws”. There’s not many sea creatures big enough to do that, but… in January, a Scottish trawler reported seeing a submarine periscope, possibly Russian. NATO says it had no subs in the Irish Sea, but interestingly, they are at this moment conducting their Joint Warrior exercise just around the corner in the North Sea. And Russia loves provoking NATO.

BONUS ITEM: Jetpacks are real and make you want to fly.

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