10 things you need to know this morning in Australia

Morning, team. TGIF.

Real unemployment will hit 13% in Australia, according to the latest Treasury figures

Australian unemployment will hit 11% by Christmas, according to the latest Treasury estimates. Including those on zero hours and who have dropped out of the workforce entirely, it would place the effective unemployment rate above 13%.

Australia's top politicians have seen a 'coronavirus bump' on Facebook, growing their collective following by more than a million since February

The total number of likes on Facebook pages for the prime minister and state and territory leaders have doubled since the start of the COVID-19 pandemic.

Aussie traders are throwing money into China's answer to Tesla as its share price more than triples through the coronavirus pandemic

Chinese electric vehicle manufacturer Nio Inc. has seen a large boost in investment, as popularity among Australian traders soared in July. Nio saw the largest surge in popularity on trading platform eToro, displacing Tesla as the number one pick amongst Australians.

Facebook's TikTok copycat Instagram Reels is now available in Australia

Facebook is rolling out a new feature, Instagram Reels, to Australian users that allows them to create short, edited videos with music. Instagram Reels is Facebook's latest attempt to ape the success of popular short video application TikTok, which is the latest competitor for Facebook's position as the the dominant social network.

Nick Scali's sales revenue dipped last financial year – but it's still looking to open new stores in Australia and New Zealand

Furniture retailer Nick Scali has reported a drop 2% in revenue during the financial year ending June 30, 2020. The company also expects losses of between $9 million and $11 million due to its temporary store closures.

The ACCC says influencers must disclose when they post sponsored content – but admits it has never penalised anyone for breaking the rules

The Australian Competition and Consumer Commission (ACCC) says influencers must clearly mark posts if they are advertising or sponsored content No Australian influencer has ever been sanctioned or faced a penalty from the ACCC for not marking their posts as sponsored.

Samsung is launching a new foldable phone called the Galaxy Z Fold 2 that fixes the original Galaxy Fold's biggest problems

Samsung just announced the Z Fold 2, its next foldable phone. The phone comes with an improved design compared with the first-generation Galaxy Fold, such as a more durable design and a larger front screen.

Facebook CEO Mark Zuckerberg's net worth just ballooned above $100 billion for the first time ever

Facebook CEO Mark Zuckerberg's net worth just passed the $US100 billion mark. Zuckerberg, Amazon CEO Jeff Bezos, and Microsoft cofounder Bill Gates are now the only three people in the world to be worth at least $US100 billion, per Bloomberg.

Belong is the first carbon neutral-certified telco under Australia's Climate Active program – here's how it achieved that

From vegetarian diets to replacing shower heads, both individuals and major companies alike are conscious of ways they can lower their carbon footprint.

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