10 things you need to know this morning in Australia

Ministry of Defence via Getty Images

Good morning.

1. They’re alive! All 12 boys and their coach are safely out of the Thai caves after a 17-day ordeal that gripped the world. The final five stranded members of the team – four boys and their coach – were helped out by rescue divers on Tuesday evening local time, ending a three-day rescue operation. Here’s exactly how they did it:

Samantha Lee/Business Insider

All 12 boys and the coach were taken straight to hospital where they will be monitored while in isolation for a week. The boys are being treated for various minor conditions, getting re-introduced to food, and wearing sunglasses to protect their vision after spending so much time in the dark.

2. And it turns out, Elon Musk did actually visit the cave the team and their coach was trapped in. After expressing his desire to help with rescue efforts on social media, Musk orchestrated the creation of what he called a “kid-size submarine” and travelled to Thailand “to assess the conditions and get further feedback on the mini-submarine, in case it was used as a backup option”. Despite the device not being required, Musk said it was “great news that they made it out safely” and congratulated the rescue team. He left the sub, made from rocket parts and named Wild Boar after kids’ soccer team, in Thailand in case it is needed in the future.

3. Donald Trump is about to kick the trade war with China into high gear with the release of a list of $US200 billion worth of Chinese exports to the US that could be subject to a new 10% tariffs. The release of the list would trigger the official process to implement the new tariffs, and would be a massive escalation of Trump’s trade war with China.

4. The Australian dollar has fallen sharply into close on Tuesday, giving up modest gains seen earlier in the session. After dipping in Asia, the Aussie clawed higher in European and US trade, bolstered by continued gains in stocks. However, that all changed late in the session as news hit that the US is about to announce new tariffs on Chinese imports. At 7am AEST, the AUD/USD was down 0.09% to 0.7459.

Investing.comAUD/USD 5-Minute Chart

5. Tesla is planning to build a plant in China, and it expects to produce 500,000 cars a year. It comes after the company signed an agreement on the deal with Shanghai’s municipal government. Tesla has as long been trying to work out a deal with local authorities. CEO Elon Musk has said he hopes to begin producing cars in the country in 2020. The news saw shares rally more than 2%.

6. At 1pm AEST we’ll find out if Australia’s crackdown on risky mortgage lending will get even tougher with APRA Chair Wayne Byres set to deliver a key speech entitled “Developments in housing markets”. The speech will provide some clarity as to what the recent restrictions may mean for not only borrowers, but also the wider housing market.

7. Queen Elizabeth and the royal family have celebrated the 100th anniversary of Britain’s Royal Air Force (RAF) by attending a flypast of almost 100 aircraft over Buckingham Palace. It included bombers, old and new, along with spy planes, helicopters and transporters. According to Reuters, some 1,300 serving RAF men and women also participated in a parade down The Mall, the main approach to Buckingham Palace. The queen later hosted a ceremony to present the RAF with a new Queen’s Colour, paying tribute to the “tenacity, skill and gallantry” that served as hallmarks for the RAF’s service.

Chris Jackson/Getty Images(L-R) Prince Charles, Prince of Wales, Prince Andrew, Duke of York, Camilla, Duchess of Cornwall, Queen Elizabeth II, Meghan, Duchess of Sussex, Prince Harry, Duke of Sussex, Prince William, Duke of Cambridge and Catherine, Duchess of Cambridge watch the RAF flypast on the balcony of Buckingham Palace.

8. Woah. 257.9% — that’s how much house prices have increased in Derrimut, Victoria over the past 10 years. Wondering how much prices in your area have increased? We’ve got the lists of the suburbs in Sydney and Melbourne where prices have surged the most over the past decade. Here they are.

9. Australia’s bike sharing industry is near collapse as 3 major companies shut. ReddyGo, oBike and Ofo have all announced they are shutting down operations in Australia, up against local residents and councils in capital cities who didn’t like that the bikes ended up in the local river, or up a tree, or mangled in a back street, or as part of an impromptu art installation. Their departure has called into question a business model more based on data collection than fees. Chris Pash has more here.

10. France is through to the World Cup final for the first time in 12 years. Samuel Umtiti scored with a header from a corner kick in the 51st minute to earn France a 1-0 victory over Belgium. Who they play in the final will be decided when England plays Croatia tomorrow morning at 4am AEST. Here’s how to watch the 2018 FIFA World Cup final live, online, and free in Australia.


Meanwhile, Justin Timberlake has announced his support for England at the World Cup — and Twitter is going wild.

Have a great day.

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