Is the Apple Watch burning people? Picture: AFP/JUNG YEON-JE Source: AFP

10am

That’s it for our live #RUSHHOUR news blog. You can get across the stories you need to know today below or go to news.com.au for the latest headlines.

9.55am

Despite the constant talk of housing unaffordability, two Reserve Bank researchers say houses in Australia are really 30 per cent undervalued - the widest gap in 30 years.

“We find that owning a house costs 30 per cent less than renting,” RBA senior research manager Peter Tulip told the Australian Conference of Economists in Brisbane yesterday.

“Under our assumptions, owning a home is now more attractive, relative to renting, than it has been at any time in the past 30 years.”

Better value to buy than rent? Source: Supplied

9.50am

Iron ore has endured one of its worst sessions on record, with a fresh 11 per cent plunge taking its price to a 10-year low.

China’s benchmark Shanghai stock index closed down 5.9 per cent yesterday, taking it to a three-month low after losing around a third of its value since a high was hit in mid-June.

“China’s stock market rout is now spreading to other financial markets, creating a sweeping sense of panic and liquidity crunch,” Zheng Ge, an analyst at Wanda Futures, said.

9.45am

A Queensland supporter is being criticised after unveiling a banner with a short message of support for her beleaguered captain, Cameron Smith.

The woman held up a sign that featured the hashtag #riseforcameron, referring to the “Rise for Alex” campaign that raised money for Alex McKinnon, the former Newcastle Knights player whose career was cut short by a paralysing spinal injury during a game in March, 2014.

Smith was embroiled in controversy in the lead up to last night’s Origin decider after a 60 Minutes story that portrayed him as a villain in the McKinnon saga.

Too much? This woman’s sign has been criticised by Origin viewers. Source: Getty Images

9.30am

Foreign Minister Julie Bishop has stood by her comments that Islamic State was the greatest threat to civilisation since World War II, following a speech from Malcolm Turnbull that played down the security threat.

Ms Bishop made the comments in April and said they were based on classified briefings.

“My assessment is based on the classified briefings I receive as a member of the National Security Committee, and from my confidential discussions with counterpart foreign ministers and national leaders around the world,” Ms Bishop told The Australian.

“We are in the early stages of a struggle against an extremist ideology that many nations regard as an existential threat.”

RELATED: Was Malcolm Turnbull right about Islamic State?

Julie Bishop and Malcolm Turnbull don’t see eye to eye on Islamic State. Source: News Corp Australia

9.15am

The most powerful cold front to cross Australia’s southeast in a years will hit this weekend with forecasters warning of freezing conditions.

The weather event will start on Saturday and unusually cold conditions are expected to last until the middle of next week.

Weatherzone says South Australia, Tasmania, Victoria, New South Wales, the ACT, Queensland and the Northern Territory will experience the coldest spell in at least two years, and more than five years in some places.

Huge snowfalls are forecast from Friday for the Alpine resorts like Falls Creek. Source: Supplied

8.55am

Singer Ariana Grande has apologised for saying she hated America during a bizarre visit to a doughnut shop on the Fourth of July.

The 22-year-old was filmed licking a pastry on a tray while an employee was turned away, as she lashes out at an oversized snack with back-up dancer and rumoured beau Ricky Alvarez by her side. “What the fu*k is that? I hate Americans. I hate America.”

Ariana Grande hates America. Picture: Jeff Vespa/WireImage Source: Getty Images

8.40am

It started so well for Australia on day one of the first Test of the Ashes, but by stumps it had clearly been England’s day as the home side — led by batsman Joe Root — who scored a century as the Poms posted 7/343 in Cardiff.

Mitchell Starc reacts after Brad Haddin drops Joe Root. Source: Getty Images

8.20am

Shocking footage of a male store manager punching a female employee to the ground has emerged.

The Manhattan Panera Bread manager was recorded knocking down the woman, who appears tiny next to her male superior.

The New York Daily News reported that the woman quit mid-shift before the manager allegedly threw her down the stairs. She runs back into the shop to retaliate, which is when the video starts.

The manager of a Manhattan Panera Bread shop was recorded knocking one of his employees to the ground. Source: News Corp Australia

8am

Tennis player Nick Kyrgios has arrived back in Australia and says he is not too fussed about finding a coach to replaced sacked Todd Larkham.

He also played down fears that he considered quitting tennis: “I don’t think I’ll put down the racquet anytime soon”.

Kyrgios has arrived back in Australia. Source: Supplied

7.45am

An elderly man has been left with facial injuries after a violent carjacking in Brisbane’s southwest. The man, 73, was waiting alone in his car to pick up family members at a shopping centre in Inala about 9pm on Wednesday when he was pulled from his vehicle, and punched and kicked.

His three attackers then drove off in his white 2002 Nissan Pulsar.

7.30am

A US man is offering a $US10,000 ($AU13,460) reward to anyone who finds him a girlfriend.

Ren Lu You, 29, has created his own website where people can submit candidates, and if he ends up dating the woman for more than six months, he will pay the reward.

The recent Harvard Business School graduate told Business Insider that he had been on many dates but had been disappointed. “I’m trying to make dating as efficient as possible,” he said.

Ren Lu You is offering a reward to anyone who finds him a girlfriend. Source: Supplied

7.05am

Tom Selleck may not be as blue-blooded as his characters.

The Hollywood star, who is widely known for playing a police commissioner in Blue Bloods and an investigator in Magnum PI has been accused of stealing truckloads of water for his home in California.

The local water district is suing the actor saying they hired a PI, who found a water truck filled up at a public hydrant on 12 different occasions, then delivered the water to Selleck’s 60-acre ranch where he has an avocado farm.

6.55am

Opposition Leader Bill Shorten will appear again today at the Trade Union Royal Commission, after a six hour grilling yesterday.

While yesterday’s questioning did not reveal Mr Shorten did anything illegal, his late declaration of an election $40,000, lodged just 144 hours before he fronted Justice Dyson Heydon, leaves him open to accusations that he put his own self-interest before his union members.

ANALYSIS: Shorten walks away from grilling with lingering problem

Bill Shorten leaves after his appearance before the Royal Commission into Trade Union Governance and Corruption in Sydney's CBD. Source: News Corp Australia

6.50am

Racist or not? The village seal of a US town which shows a white person grappling with a Native American is under fire for being offensive.

It probably doesn’t help that the seal is for a town called Whitesboro, although the village is named after its founder, the settler Hugh White.

Some argue the seal depicts a “friendly wrestling match” while others believe White’s dominant stance makes it racist, and it should be removed, like the Confederate flag.

Just a friendly wrestling match: The village seal of Whitesboro, New York Source: Supplied

Six workers have fallen ill after a chemical spill at Melbourne Airport early this morning.

Firefighters were called to the airport just after 2am, 3AW reported, after the workers in a freight storage area breathed in th fumes.

Authorities say there is no threat to the community.

6.30am

Embarrassed and outclassed, NSW resorted to cheap shots as Queensland romped to a record 52-6 victory during the final State of Origin clash last night.

Click here for a collection of the big talking points.

Placed on report: James Tamou hit Jacob Lillyman across the face with a straight arm. Source: Channel 9

6.20am

Greek Prime Minister Alexis Tsipras has now confirmed Greece will submit “credible” reform plans to the eurozone on Thursday as demanded by leaders of the currency union at their latest emergency summit.

It was a change of tune after Tsipras and newly appointed Greek Finance Minister Euclid Tsakalotos turned up to a European leaders summit with nothing, except Tsakalotos who embarrassingly had a few bullet point notes he had jotted down on the notepad from his hotel.

An image of the notes was beamed around the world, featuring notations like “state of play” and “no triumphalism”, apparently to remind himself not to boast about his Leftist government’s victory at the referendum that attracted 61 per cent of voters to say ‘No” to further aid packages in exchange for austerity.

Greek Finance Minister Euclid Tsakalotos shows his hand. Picture: AFP/JOHN THYS Source: AFP

6am

A number of Apple Watch users are reporting burn marks on their wrists, and they’re putting the marks down to the watch itself.

Several users have taken to Twitter suggesting the device many be irritating the skin in contact with the back of the device, one user putting it down to sensors in the watch used to measure heart rate.