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The Australian

Good morning,

Business leaders say the pressure is now on US President Donald Trump to rejuvenate economies damaged by a global tariff storm that is keeping sharemarkets on a rollercoaster ride, writes chief business correspondent Perry Williams.

Meanwhile, embattled Mineral Resources boss Chris Ellison has issued a rallying cry to his workforce, vowing to “once again prove the naysayers wrong” as the company battles with falling commodity prices, operational setbacks and a mountain of debt, a memo to staff obtained by The Australian reveals.

And oil and gas executive Ayten Saridas is suing Harmers Workplace Lawyers , alleging the firm failed to advise her she was a whistleblower, which cost her protective rights and damages in a claim brought against her former employer, Oil Search.

Vesna Poljak

Business editor

The markets

Making news this morning

1

US stock selloff accelerates as China trade war sinks in

The Dow and Nasdaq have retreated more than 4 per cent after global stocks surged in response to Donald Trump’s partial tariff pause.

2

Canva sexes up spreadsheet app with AI

Australia’s visual communications darling is intensifying its push into the lucrative enterprise market, unveiling a new spreadsheet app as part of its biggest product launch yet.

3

How the bond market scared Trump into action

The US President blinked as a violent sell-off of US treasuries sounded the alarm for a full-blown financial crisis.

Editor's picks

Fighter pilot accused of training Chinese air force has assets frozen

Should Aussies who train up Chinese fighter pilots for combat go to jail? The law isn’t clear. But, ducking tax on the millions you earn doing it will get you into real trouble.

Investors win round one in the tariff turmoil … now what?

Advisers say don’t change your investment settings but that does not mean bargain-hunting won’t pay handsomely – and so far this week it’s been very profitable.

Air New Zealand’s new look revealed

The Kiwi carrier has unveiled its first redesign in 14 years as Qantas continues the hunt for a suitable designer for its new uniforms.

By ROBYN IRONSIDE

Commentary

The Trump tariff ‘capitulation rally’ doesn’t mean it’s all over

By ERIC JOHNSTON

Associate Editor

Trump’s deal-making leaves US consumers worse off and has shaken confidence across the rest of the economic world. Then there’s the big unknowns to come.

Break in trade storm still leaves job ahead for RBA

By JAMES GLYNN

Senior Reporter, The Wall Street Journal

For the Reserve Bank of Australia, the policy needle is now pointing to cutting rates at its next meeting.

DataRoom

→	Private equity firm recently weighed Endeavour Group bid

As a star retail executive was courted for the CEO role a suitor also looked at buying the Dan Murphys store owner.

→	Santos shopping for LNG in the US

The $17bn Australian-listed Santos is understood to have been shopping for liquefied natural gas opportunities in the US.

→	NZME hires UBS in activist investor battle

The fight for control of one of New Zealand’s most important media companies continues to escalate.