10 things you need to know this morning in Australia

A Pokemon on the battlefield in Iraq. Image: Louis Park / Facebook

1. Sorry about this, but we need to talk about the Pokemon phenomenon. In a matter of days the game has changed the landscape for marketing, smartphones, and gaming. For example:

Nuts. The CEO behind the game tells us it’s “designed to facilitate the real-life stuff”, like exercise and meeting people. A nice side-effect, I suppose, is that Nintendo has added around $US8 billion to its market cap since launch.

2. Surely the highlight, though, was the US soldier who flicked on the app while fighting alongside the Peshmerga against ISIS in Iraq, and found a Squirtle. “Daesh, come challenge me to a pokemon battle,” wrote Louis Park on Facebook. “Mortars are for pussies.”

Here’s the photo:

He later posted:

Holy f*** …yes I tried pokemon go out here and it worked. Why is that news worthy?

I feel like it makes me seem less serious about being here. I just wanted to show some level of humanity and individuality exists within me since most people see me as to focused and depressed.

3. To the markets, and US stocks hit all-time highs. The S&P 500 closed at 2,130.00, up +0.4% and its highest-ever close. To some this is “the mother of all buy signals“. To others, this is about declining equity risk premium, or the excess return the stock market provides over a risk-free rate like bond returns. To underline the point, Dutch 10-year bonds went negative overnight, adding another member to the negative yield club. It was the first time this has happened in the 499-year records of Dutch bond yields, which goes all the way back to when Martin Luther nailed the 95 Theses to the door of a German church.

4. So looking ahead and ASX futures are pointing to the local market adding to yesterday’s 2% rally. Iron ore fixed up slightly last night and futures are pointing to more gains.

5. Theresa May will be Britain’s next prime minister and she will likely be in Downing Street by Thursday morning (Australian time) after her rival and Leave campaigner Andrea Leadsome dropped out of the race. With Nigel Farage quitting UKIP, Boris Johnson shafted by Michael Gove, and now Leadsome out, there are no prominent Brexiteers left on the stage to see through the orders issued by the British people in last month’s stunning referendum. May said last night, however, that “Brexit means Brexit“.

6. An American Express corporate card for meal and travel expenses, $US75 meal allowance and a car service on weekends, and $US25 every four hours if you’re working late are some of the perks for every investment banker at Goldman Sachs.

7. Tesla has a problem with regulators. Elon Musk’s company has been criticised for not disclosing a fatal crash involving a driver whose Tesla was on Autopilot, which occured on May 7, before it raised $US2 billion in a stock sale on May 18. The SEC is now reportedly investigating.

8. iOS 10 is out, and it will change the way people use their home screen and the lock function on their iPhones. Notifications have a new look and better functionality. Here:

Steve Kovach explains how it has improved how he uses his phone.

9. Golf at the Olympics will be rubbish. Jordan Spieth is the latest to pull out.

10. Taylor Swift made $US170 million, or around $A225 million, last year, making her the world’s highest-earning celebrity.

BONUS ITEM: We’ve got an e-book out on some of Australia’s biggest business challenges, with applications to companies of all sizes looking to navigate the increasingly complex landscape. It covers how to read consumer confidence, digital marketing, the relevance of the global economy to small business and more. You can download it here.


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