1. Olivia Newton-John dies at age 73
The British-Australian actor most famous for her leading role with John Travolta in the blockbuster 1978 film adaptation of ‘Grease’ has died at her home in Southern California overnight, with her husband John Easterling posting online: “We ask that everyone please respect the family’s privacy during this very difficult time.”

Newton-John won several Grammy’s during her career for hits like ‘Physical’ and ‘You’re the One that I Want’.

2. Senior executives at Qantas to double up as baggage handlers?
In a desperate to get more workers on the ground, Qantas has asked some of its senior executives to volunteer as baggage handlers as labour shortages continue.

“People who respond to the EOI will be trained and rostered into the ramp environment at Sydney and Melbourne airports,” wrote chief operating officer, Colin Hughes. “These people will support our ground handling partners, who are managing the Qantas operation, over a three-month period from mid-August.”

At least 100 managers will be recruited to sort and scan bags and transport luggage. Hughes added: “There is no expectation that you will opt into this role on top of your full-time position.”

At least 1,600 baggage handlers were sacked during lockdown, with the service outsourced to contractors, a decision that the federal court has ruled unlawful. Qantas has vowed to appeal the decision. (The Guardian)

3. More Chinese military drills to be conducted neat Taiwan
China’s Eastern Theatre Command said it would conduct joint drills focusing on anti-submarine and sea assault operations — confirming the fears of some security analysts and diplomats that Beijing would continue to maintain pressure on Taiwan’s defences. (CNBC)

The duration and precise location of the latest drills are not yet known, but Taiwan has already taken measures and eased flight restrictions near the six earlier Chinese exercise areas surrounding the island.

4. EnergyAustralia profit result reveals heavy losses
EnergyAustralia’s parent company CLP Group based in Hong Kong has flagged a brighter outlook ahead for the company despite “posting a heavy $HK8.68 billion ($1.6 billion) loss at the Australian company for the first half that dragged the whole group into the red,” the AFR reports.

“Additional short-term coal and gas purchases have been made to enable EnergyAustralia’s power stations to support customers and the broader energy market in the second half,” CLP said in its forward outlook.

5. ASX continues slide as earnings add pressure
ASX futures were down 14 points or 0.2% to 6909 near 6.40am AEST, with the AUD +1% to 69.83 US cents.

On Wall St: Dow +0.1% S&P 500 -0.1% Nasdaq -0.1%.

In Europe: Stoxx 50 +0.9% FTSE +0.6% CAC +0.8% DAX +0.8%.

10-year yield: US 2.75% Australia 3.20%.