10 things you need to know this morning in Australia

US president-elect Donald Trump during his press conference overnight in New York. (Photo by Spencer Platt/Getty Images)

Good morning!

1. Donald Trump held his first press conference in more than six months and went for CNN, denying the network’s reporter a question and saying “you are fake news”. He also attacked BuzzFeed, which published the 35-page dossier full of unsubstantiated claims against him including that he hired prostitutes for obscene acts in the Moscow Ritz-Carlton. BuzzFeed, he said, was a “failing pile of garbage”.

2. The World Economic Forum says the biggest risks to the global economy are not populist politics or Brexit or even terrorism. Instead, they are:

  • Unemployment or underemployment.
  • Energy price shock.
  • Fiscal crises.
  • Failure of national governance.
  • Profound social instability.

“This points to the need for reviving economic growth,” said the WEF, “but the growing mood of anti-establishment populism suggests we may have passed the stage where this alone would remedy fractures in society: reforming market capitalism must also be added to the agenda.”

3. Markets swung wildly in the US trading session but finished marginally in the green. Trump’s press conference set the hares running but in the end the Dow closed at 19,947.91, up 0.16%, and the S&P 500 was up 0.28%. SPI futures are up just 4 points, pointing to a gain of just 0.07% at the Australian market open. The Australian dollar ripped higher overnight and iron ore is still rallying.

4. WA One Nation senator Rod Culleton has been booted from the Senate following his bankruptcy.

5. When bond kings go to war. DoubleLine Fund founder Jeff Gundlach gave a webcast presenting his 2017 outlook, and said focusing on 2.6% as an important level for the 10-year Treasury yield was only for certain “second-tier” managers. Last Friday, Bill Gross, portfolio manager of the Janus Global Unconstrained Bond Fund, made that 2.6% call in a Bloomberg interview. Some burn evident.

6. Infant formula maker Bellamy’s is back trading on the ASX. The company, which pulled its shares from market trading in December after flagging a “temporary volume dislocation” in sales, announced yesterday that the CEO would leave, the CFO would move to a new role, and there would be a cost-cutting program. The stock plunged 40% before recovering around half of the losses. Chris Pash details the full explanation from the company here. Background bonus: Brokers and traders who have been waiting for the company to update the market for weeks were furious that the company chose to go public at lunchtime on a January Wednesday afternoon.

7. Have you ever been headhunted? If you answered no, don’t get upset and think it’s because you’re rubbish. You’re just not putting yourself out there in the right way. Here are 5 steps you need to take to put you on the poachers’ radar.

8. The rusty-patched bumblebee is now officially on the endangered species list. It’s the first time a US bee species has made the list, and there are very, very good reasons why that should concern everyone.

9. There’s a new report out on the ‘alien megastructure’ star that is the best explanation we’ve heard yet on whether the signals it’s sending out are from aliens or not. Here on Earth, something way cooler is happening – NASA is bringing back its exciting, experimental, and dangerous X-planes program.

10. Today in unsettling robot technology news, the US military successfully tested a new weapon which involves hundreds of little connected drones being deployed from fighter jets. The Perdix drones fly in a formation and basically can attack a target like a swarm of killer bees.

BONUS ITEM: On January 8, Mr Beast filmed himself counting to 100,000. Four days later, it has been watched 5,246,430 times.

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