10 things you need to know this morning in Australia

CanvaThis is what it looks like working for Canva.

Good morning.

1. Tit-for-tat. China has placed tariffs on $US60 billion worth of American products in a tit-for-tat response to the Trump administration’s latest round of sanctions. On Monday evening, the US announced new tariffs on $US200 billion worth of Chinese goods. Here are all the Chinese products that will get hit. Meanwhile, Alibaba founder Jack Ma says the US-China trade war is “going to be a mess” and could last 20 years.

2. The Australian dollar rallied across the board on Tuesday, defying an escalation in trade tensions between China and the US. At 7am AEST, the Aussie was up 0.53% to 0.7218.

Investing.comAUD/USD Hourly Chart

3. Tesla shares fell by more than 3% overnight after the US Department of Justice announced it had launched a criminal probe into the company. The investigation is in connection with comments made by CEO Elon Musk last month that Tesla had secured funding to go private. In other Musk news, SpaceX announced Yusaku Maezawa, a Japanese entrepreneur and art collector, will take a lunar voyage on the Big Falcon Rocket. SpaceX said the whole event will be livestreamed in virtual reality, in real time and Musk himself may even join him.

4. US federal investigators now have “the perfect storm of cooperators” against US President Donald Trump, according to experts. Investigators have successfully flipped the three men privy to the most secret details of the main facets of President Donald Trump’s life — Paul Manafort, the former Trump campaign chairman; Michael Cohen, Trump’s former personal lawyer; and Allen Weisselberg, the Trump Organisation’s chief financial officer. One Justice Department veteran compared their roles to those in the Mob: “One could draw the analogy here that Manafort was Trump’s consigliere when it came to his campaign, Weisselberg was the underboss in the Trump Organisation, and Cohen is, of course, the lawyer.”

5. Where do we sign up? We took a look around Australia’s best place to work: Canva. Just some of the many employee perks include breakfast and lunches served from the in-house kitchen, on your birthday you can choose to have a cocktail of your choice on tap, multiple gym memberships, an inside climbing wall, free sessions with a coach for personal and professional development, a parents’ room, a bring your dog to work policy, free bike servicing days, and an expat transitioning program for employees and their families. Want to see what all that looks like? Here’s a behind-the-scenes look at the Aussie startup which is showing no signs of slowing down.

6. Strawberries are being dumped by the truckload as the needle contamination crisis spreads to other fruit. Concerns about potential copycat actions have emerged in the last few days. Incidents have been reported in six states. The heartbreaking impact of the crisis was demonstrated in a video from Donnybrook Strawberries which has now been forced to destroy copious amounts of ripe produce.

7. 5G could add $50 billion to Australia’s GDP by 2030. That’s according to a new report by Deloitte, commissioned by Telstra “to analyse the potential benefits of 5G to businesses and the broader economy”. More details here.

8. China and Sweden have entered a bizarre feud after Chinese tourists threw themselves on the ground outside a hostel in Stockholm claiming a “brutal” murder attempt. According to Swedish media reports the family arrived at the hostel 15 hours prior to their booking but when they refused to leave after asking to stay in the lobby, the business called the police, at which point they threw a fit. Meanwhile, the Global Times, a nationalistic Chinese state-run newspaper, quoted one family member as saying additional armed police arrived and detained and beat the elder parents. Here’s a look at the video footage:

9. This $618 million mansion in Hong Kong could break the record as the most expensive home ever sold in the world’s most expensive housing market — but it’s surprisingly modest with just four bedrooms, four-and-a-half bathrooms and 90s architecture. Take a look for yourself.

10. Shares in Juventus FC have doubled since it bought Cristiano Ronaldo. The club’s market capitalisation is now €1.5 billion ($AU2.42 billion). But this is probably just the beginning as the club looks to increase broadcasting revenue, sponsorship revenue, and attract a global audience. Check it out:

Markets Insider

BONUS ITEM: Lionel Messi scored this incredible free kick en route to netting a hat trick in Barcelona’s first game of Champions League play.


Have a great day.

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