Here’s what you need to know today

• The Australian government has announced its 2035 emissions target: a 62-70% decline in emissions from 2005 levels by 2035. The government has said it plans to legislate this target but with a fragmented Senate, it will require the support of the Greens. (AFR)
  
  

• The same day these new emissions targets were released, Oxford Economics released a report suggesting Australia is not on track to hit a 50% reduction on 2005 levels by 2035. By their measure, there is still plenty of work to be done. (Capital Brief)
  
  

• The $36.4 billion deal to buy Australian oil and gas giant Santos has fallen over. The consortium led by the Abu Dhabi National Oil Company and private equity firm Carlyle Group pulled its bid just two days before a binding deal was to be signed. Santos shares were down 12% as the market digested the news. (AFR)
  
  

• The latest numbers from the Australian Bureau of Statistics show that the Australian economy lost 5,400 jobs in August. This was a surprise for economists, with the consensus estimate expecting 21,000 jobs to be added. Despite the job losses, the unemployment rate held steady at 4.2% as the participation rate dropped slightly as well. (AFR)
  
  

• A second Queensland coal miner is cutting jobs this week. After BHP announced plans to cut 750 jobs earlier this week, Anglo American will reportedly announced plans to cut 200 jobs. Analysts are pointing to higher Queensland government royalties and a lower coal price as the reason these companies are looking to cut costs. (ABC News)
  
  

• Chinese regulators have told large tech companies to stop buying Nvidia chips. According to reports from the Financial Times, the Cyberspace Administration of China told companies including Alibaba and ByteDance to stop buying Nvidia chips and cancel existing orders. Nvidia shares were down 3% on the news. (Financial Times)
  
  

• Strava is going public. The fitness tracking app has reportedly approached large investment banks about the process of listing on the stock market. In May, Strava was valued at $2.2 billion with 150 million users. (Reuters)
  
  

• British inflation came in at 3.8% for the 12 months to August. This is the same as inflation in July, well above the Bank of England’s target of 2%. (BBC)
  
  

• The European Commission has announced a proposal to suspend the EU-Israel free trade agreement, and to place sanctions on a list of Israeli government ministers and Hamas leaders. EU member states now have an opportunity to review and veto the proposal. (The Guardian)
  
  

• Disney-owned ABC has axed its late night show hosted by Jimmy Kimmel after complaints by the Trump Administration and its allies. This is the second late show that has been taken off the air, following CBS announcing plans to end Stephen Colbert’s show. (AFR)

What the…?

Every September, the Netherlands puts on a surprising festival. In the southern city of Tilburg, thousands of people attend the annual Redhead Days festival.

Over three days, redheads from more than 80 countries gather to celebrate their hair colour. The festival includes music, food trucks and workshops “tailored to particular needs of redheads, from makeup explainers to skin cancer prevention”.

The festival is open to all, even if you don’t have red hair. Except for the group photo on Sunday. That is restricted to only “natural” redheads. (Associated Press)

Investing is a lifelong journey

Here’s what you can learn today

Rikki Bannon: The #1 tip I’d teach every investor

We’ve asked a number of experts their #1 tip for investors. This week in the email, we’re sharing some of their answers. (Watch the full montage here)

Today, we’re sharing the answer from Rikki Bannan, Executive Director, Small Caps at IFM Investors.

Rikki: Understand what you’re investing in and be really clear on why you own the stock and what it’s worth.

Something that you hear sometimes, and I don’t know that I agree with that is volatility equals risk. I mean, I don’t really think that’s true. I think risk is the permanent loss of capital volatility. Volatility is just part and parcel of equity markets, and it creates opportunity. Volatility, when a stock goes down, that could be your opportunity to buy a great business at attractive valuations.

Watch all of the expert answers on the Equity Mates Clips YouTube page:

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Head to vanguard.com.au/super to explore Vanguard Super.

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