Good morning all.

1. There were two new local cases of COVID-19 in NSW yesterday. We’re awaiting the numbers from today, but more exposure sites were added periodically throughout yesterday. You can see them in the thread below.

2. Sydney’s coronavirus restrictions are likely to extend past Thursday. NSW Premier Gladys Berejiklian said “in all likelihood” requirements for mask-wearing will continue. That means masks on public transport, in a number of different public indoor settings in specific local government areas.

3. Nationals MP Barnaby Joyce has reclaimed the positions of party leader and Deputy Prime Minister after a Monday spill. In defeating Michael McCormack, Joyce is set to return to the role three years after stepping down. Recent history suggests Joyce could rock the Coalition boat, with contrary views on climate policy, debt and budgetary measures.

4. Australian red meat producers and the plant-based alternative industry are squaring up before a landmark Senate inquiry into food labelling. The new inquiry will hear arguments over the naming of plant-based products, and whether they can use the term ‘meat’ in Australia. But far more is at stake than simple naming rights, with the inquiry setting the stage for a major battle between industry titans.

5. Stake, the low-cost equities platform with 340,000 users, is set to open to ASX-listed equities and exchange traded funds (ETFs). It’ll undoubtedly push competitors like CommSec towards a zero-fee future. “We wouldn’t do this if we didn’t see there was a massive gap in the Australian market and a desire for more transparency and more control, giving a lot more back to customers rather than taking excessive margin,” Stake CEO and founder Matt Leibowitz told the AFR.

6. Australia has hit out at a United Nations move to list the Great Barrier Reef as in danger. The move could start a process to have the reef delisted as a World Heritage site. “The Great Barrier Reef is the best-managed reef in the world and this draft recommendation has been made without examining the reef first hand, and without the latest information,” said Environment Minister Sussan Ley.

7. A probe into a UK Amazon warehouse found it marked millions of items for destruction each year. One former employee said staff were given a weekly target of 130,000 items to destroy. “There’s no rhyme or reason to what gets destroyed: Dyson fans, Hoovers, the occasional MacBook and iPad; the other day, 20,000 COVID (face) masks still in their wrappers,” the ex-employee told ITV. Amazon said the warehouse handled returns and destroyed items for the entire UK.

8. US stocks surged on Monday, with the Dow Jones having its best day since March and jumping nearly 600 points. The surge higher was driven by sectors tied to the physical reopening of the economy, like energy and industrials. While stocks moved higher on Monday, cryptocurrencies experienced a sharp decline. Bitcoin fell more than 14% over the weekend as China continued to crack down on mining operations in the country.

9. The far-reaching crypto meltdown has led to a 70% decline in Dogecoin since its peak in early May. A mysterious whale owns about 28% of the Dogecoin supply. The value of this entity’s holdings had plummeted to $8.2 billion as of Monday from a massive $24 billion in May. Crypto: it’s very weird.

10. The WHO’s top scientist said it’s too early to recommend COVID-19 vaccine booster shots. Soumya Swaminathan said that “we don’t have the information that’s necessary to make the recommendation on whether or not a booster will be needed”. It comes as vaccine manufacturers develop extra doses that could boost the immune response in fully-vaccinated people.

BONUS ITEM

What’s the worst thing about living in Antarctica? Not being able to stream movies thanks to the garbage internet, says one guy living on a research station down there.

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