Good morning, to those who slept.
1. Joe Hockey’s second federal budget has landed, and we stayed up to watch it come in. Here’s 31 stories – yes, 31 – that give you all you need to know about Budget 2015, at a glance.
2. Mostly, it was well-received by anyone who’s not a backpacker, Netflix subscriber or Australian foreign aid recipient. Or a woman. But there’s always a counterpoint, and here’s today’s – Capital Economics economists Paul Dale and Adam Collins released a note overnight saying the Australian economy had been hung out to dry and the RBA will need to cut rates further as a result of the budget.
3. It should be an interesting day on the local market as traders grapple with the downdraft of offshore influences, notably whispers of the first US Fed hike, while trying to pick through ASX listed companies that are likely to benefit from the Government’s budget. On balance, futures traders had the SPI 200 down 16 points to 5652. The support at the 200-day moving average remains.
4. On the data front today, one of the more interesting releases might actually be the RBNZ’s financial stability report. That’s because they have both a rampant housing market and a banking sector dominated by Aussie banks. The wage price index is also out and we’re still waiting on Chinese loan data. Chinese retail sales are also due and this, along with industrial production and urban investment, will be the highlight of today’s data calendar.
5. Here’s a picture of a US Marine drinking blood from a cobra with its head cut off:
It all seems a bit unnecessary, but yeah, they’re pretty hardcore. Here’s eight other special forces around the world that are just as mad.
6. The numbers for the Mayweather-Pacquiao fight are in, and they shattered expectations by tens of millions. This is mindblowing. Thanks to the five-year build-up and the mastery of branding employed by both fighters, the match pulled in a staggering half a billion dollars in revenue. 4.4 million pay-per-views blew away the record of 2.48 million PPVs set by Mayweather and Oscar de la Hoya in 2007. Mayweather should take home $210 million; Pacquiao $143 million.
7. The Chinese have a weird way of using the iPhone, and no one knows why. There’s a feature called Assistive Touch and its fun, but fiddly, basically doing away with the need to press the physical Home button. Chinese users love it and Gus Lubin can only theorise why.
8. The most successful Kickstarter projects of all time reads like a bunch of great ideas for which enthusiasm faded extremely rapidly. Some made their money; most didn’t. A few are still in development – here’s where the top eight are right now.
9. The book about Elon Musk due out soon sounds fascinating. Yesterday, we heard about how Google CEO Larry Page says Musk is essentially “homeless” when he comes to Silicon Valley. He doesn’t have a house there and often asks if he can bunk at Page’s. Today’s promo anecdote is all about a “secret room” Musk visits to share crazy ideas with Page and Brin, like an aeroplane that flies non-stop around the world.
10. NASA’s working on the biggest rocket ever, one that carries twice the payload of the space shuttle. More importantly, the Space Launch System will carry four astronauts to Mars. Here’s eight charts that tell you all you need to know about this amazing program.
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