The 10 most important things in the world right now

Australia’s first F-35s made their public debut at the Avalon Air Show. The two Joint Strike Fighters are currently based at Luke Air Force Base in the United States, but were flown to Australia for the first time by Royal Australian Air Force. Photo: Scott Barbour/ Getty Images.

Hello! Here’s what you need to know on Friday.

1. US Attorney General Jeff Sessions has recused himself from future investigations into Trump campaign. It comes amid a firestorm over his contacts with Russian officials during the 2016 election.

2. Trump has defended Sessions, calling the attorney general an “honest man” targeted by a Democratic “witch hunt”. He said, “Sessions is an honest man. He did not say anything wrong. He could have stated his response more accurately, but it was clearly not intentional.”

3. This analyst says the pound is set for one final big dip against the US dollar once Britain triggers Article 50. A strategist from Bank of America Merrill Lynch says Brexit is not yet fully priced in by the markets, but that the pound should start to recover in the months after Article 50 is triggered.

4. UK prime minister Theresa May’s Scottish “power grab” could fuel demand for a second independence referendum. It comes after May has refused to say whether Downing Street will hand over crucial EU powers to Scotland after Brexit.

5. Snap surged 44% in its stock market debut. Snapchat’s holding company raised a greater than expected $3.4 billion in an initial public offering.

6. US Federal Reserve chair Janet Yellen will speak on the US economic outlook from Chicago today. With markets now pricing in a greater than 80% chance that the Fed will lift rates on March 15, many believe this event will be an opportunity to either confirm or correct this view.

7. For the first time ever, the price of one Bitcoin climbed above the price of one ounce of gold. The cryptocurrency climbed to $1,241.30 around 2.20pm Friday AEDT (3.20am GMT on Friday).

8. Hungary is building new high-tech border fence. It is capable of delivering electric shocks to unwanted migrants and is armed with heat sensors, cameras, and loudspeakers that blare in several languages.

9. The US has carried out more than 20 airstrikes on al Qaeda in Yemen. It’s the first major operations against the group since a January raid by US commandos.

10. Bolivia is complaining to France about its portrayal in the latest Ghost Recon video game. The video portrays the South American country as an area controlled by drug traffickers.

And finally…

The women accused of killing Kim Jong Un’s brother Kim Jong-nam are still alive, for now

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