Crypto News: Barley optimism

Good morning, it's Amy here in blustery Melbourne. The Reserve Bank is set to release its quarterly update of its economic forecasts and policy outlook today. But first, here's the news to start your day.

Today's must-reads:
• Hope on China barley tariffs
• HESTA survey on women in investment management
• Apple reports disappointing iPhone sales

Australia expects to hear news within days on China's four-month review of its punitive tariffs on Australian barley exports, Trade Minister Don Farrell said, in what would be the latest sign of improving ties between Canberra and Beijing.

AUKUS is ambitious, but America and its allies can't produce the submarines the pact demands, writes Bloomberg Opinion's Hal Brands. US Senator Roger Wicker is being constructively obstructionist by pointing out that his country can't churn out the boats promised while keeping its own fleet strong, he says. Meanwhile, New Zealand said it will invest in a "combat-capable" defense force and protect its interests in the Pacific.

Forget the international shock of British Prime Minister Rishi Sunak's about-turn on climate policies this week, writes Bloomberg Opinion's David Fickling. The really consequential political reversal on global warming may be happening 8,000 kilometers to the east. Beijing went from an antagonist in climate negotiations to an ally and even leader in recent years, Fickling writes, and it now appears to be getting cold feet.

Women make up less than a quarter of fund managers globally, according to a new report by super fund HESTA. CIO Sonya Sawtell-Rickson has some ideas on how to accelerate progress.

In markets news, stocks fell as the slide in the world's biggest bond market deepened ahead of a US jobs report, which is expected to provide clues on the outlook for the Federal Reserve's next steps. Apple fell in late trading after reporting disappointing iPhone sales, while Amazon gained after an earnings beat.

Donald Trump pleaded not guilty to charges that he conspired to obstruct the 2020 presidential election and interfere with the voting rights of millions of Americans. The former president was arraigned Thursday in the federal courthouse in Washington.

China is expecting more extreme weather this month as the nation reels from deadly floods after the heaviest rains to hit Beijing in more than a century. Parts of the nation's north will see heavier-than-normal rainfall and hotter temperatures as wild weather sweeps across various regions, according to the China Meteorological Administration.

India is requiring licenses for the import of computers from laptops to tablets, the latest in a series of government measures intended to encourage local electronics production. Shares in local electronics contract manufacturers rose after the government announcement.

• RBA Statement on Monetary Policy, 11:30am Sydney

You'd have to think the Matildas would be a hot target for sponsorship and endorsements after their performance so far at this year's FIFA Women's World Cup. But the financing of sport often isn't an easy path, as world-famous Chelsea FC shows. The London-based club has approached investors about raising capital, according to people familiar with the matter. The club is set to start this season without shirt and sleeve sponsors, having failed to agree deals, while match-day revenues are restricted by a 40,000-seat stadium that has a lower capacity than many of Chelsea's rivals. On that note, have a great weekend!