10 things you need to know this morning in Australia

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Still counting. Picture: Columbia Pictures

Good morning. Let’s get busy.

1. Oh, Facebook. The juggernaut is not only rolling on, it’s defying gravity. Where do you start with Mark Zuckerberg’s Q2 earnings? Let’s just roll the numbers, which beat Wall Street expectations on every single important metric.

  • Q2 earnings per share (adjusted): $0.97 vs expectations of $0.82
  • Q2 revenue: $6.44 billion versus $6.02 billion expected, up 59% year-over-year
  • Q2 monthly active users: 1.71 billion (1.69 billion expected), an increase of 15% yoy
  • Q2 daily active users: 1.13 billion (1.12 billion expected), up 17% year-over-year

Growth on mobile is up 20% and stock is up 8% to a record high. Astonishing. Here’s the revenue growth Twitter would sell its children for:

2. Elsewhere in tech. Apple sold its billionth iPhone. Microsoft says it’s made an iPhone app that takes better photos than Apple’s camera. And finally, Google got rid of the most annoying “shortcut” in the world – that idiotic feature which makes the backspace key return to the previous page and kills all the details you just spent 20 minutes loading into a form.

3. To markets, where the US Fed hinted at a rate hike. But since it won’t happen for at least six weeks, traders cared less, the US dollar was marginally weaker and the S&P 500 dipped just 3 points. That helped stabilise the Aussie dollar back near 75 cents and SPI 200 traders pushed prices a little higher. The September contract is up 11 points, which suggests a solid open but Greg McKenna reckons yesterday’s reversal off 5565 will keep the local stock bulls wary.

4. The good times can’t last forever, and Australia’s had a decent run. Yesterday, it posted annual headline inflation at 1%, a 17-year low. But core inflation – 0.45% – was just a smidge hotter than what the RBA would be comfortable with in prepping for a rate cut next week. Goldman Sachs says it will still happen, because it knows these 3 brutal realities about prices in the Australian economy.

5. Scores were level at 2-2 in extra-time last night in the FFA Cup derby between Blacktown City and Sydney United 58. So Blacktown’s Danny Choi thought “Bugger this”:

Was it the winner? Hilariously, no. Choi’s 70m strike broke Syd Utd’s back and they folded like a cheap suit to let three more goals in and lose 6-2.

6. If you’re looking for a good book to read, you could do worse than take some advice from Elon Musk. Here are 9 books which he keeps mentioning in all the interviews he’s done over the years. And they inspired him to build rockets for Mars.

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7. Donald Trump invited the Russians to hack more of Hillary Clinton’s emails. Trump’s advisor says that isn’t true. A bunch of B-listers recorded Fight Song for Clinton. And Wikileaks founder Julian Assange says 2016 election is like choosing between “cholera and gonorrhea”. So it’s not surprising the US election now has so many Americans disillusioned, they’re asking The Rock if he’d care to run.

8. You can’t beat a good hole, and China reckons it’s found the best one – this:

It’s called the “eye” by locals in the Paracel Islands, and it’s estimated to be some 300 metres deep, swallowing the previous biggest hole, the 202 metre “Dean’s Blue Hole” in the Bahamas. Of course, China actually didn’t discover the “dragon’s hole” – it’s claiming it, because the Paracel Islands are in the part of the South China Sea which China is trying to steal claiming sovereignity over.

9. Should you buy or rent? That’s a curly one, but we’ve found a flow chart which answers all your questions. But we’re still tipping you’ll ignore the advice which follows “Will buying a home wipe out all your savings?” The only other option is to try and win a house. This Australian man paid $49 for a raffle ticket, and collected an entire island and resort.

10. Absolutely our last “Pokémon GO” link is our meanest. Ben Gilbert is here with the depressing truth about the biggest game of 2016 – there’s no possible way to ‘catch ’em all’. But Tim Cook doesn’t care, because it’s pulling $US1.6 million a day into the App Store ecosystem.

BONUS ITEM: Ever wondered what it would be like to surf without a surfboard?

Have a great day.

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