10 things you need to know this morning in Australia

Dimitrios Kambouris/Getty Images for The Business of Fashion(L-R) Kris Jenner, Kendall Jenner, Kylie Jenner, and Kim Kardashian.

Good morning.

1. Welcome to the trade war. US President Donald Trump has released a list of $US200 billion worth of Chinese goods that may be subject to tariffs. The list is massive, covering everything from tuna to wooden doors to industrial chemicals, and represents a major escalation of the Trump-China trade war. In response to Trump’s tariffs, China has released its own tariff list that will apply to $US34 billion worth of US exports to China. The list of goods affected by the tariffs includes soybeans, pork, fish, orange juice, and whiskey. Time will tell how this tit-for-tat will play out.

2. The Australian dollar suffered its third-largest decline of 2018 on Wednesday following the escalating in trade tensions between the US and China. A stronger US dollar and deterioration in investor sentiment took its toll on stocks, commodities and any China-linked asset, including the Aussie. At 7am in Sydney, the Aussie was down 1.23% to 0.7366.

Investing.comAUD/USD Hourly Chart

3. The NATO summit has kicked off in Brussels. And already US President Donald Trump has put someone offside. He and German Chancellor Angela Merkel appear headed for a one-on-one confrontation after Trump said Germany was Russia’s puppet. It comes as NATO allies are talking about breaking away from the US over Trump’s attacks on member states for various perceived shortcomings. A “family photo” from the summit has perfectly captured the awkwardness and tensions overshadowing this year’s gathering.

Sean Gallup/Getty ImagesThis family photo from the NATO summit on Thursday captured the tensions between US President Donald Trump and American allies.

When Trump said Germany was controlled by Russia, White House chief of staff John Kelly visibly grimaced next to his boss. But the administration said Kelly was merely was “displeased” because “he was expecting a full breakfast and there were only pastries and cheese.” Diddums.

4. Croatia has advanced into the FIFA World Cup final after it beat England 2-1 in the semifinals overnight. It was in extra-time that Croatia striker Mario Mandzukic struck a killer blow late to break England’s hearts and send his team into their first ever FIFA final. It was the latest in a string of upsets at this year’s championships. England, a favourite to win the competition, got off to a hot start and took an early lead 1-0 much to the delight of fans who erupted with joy. This video is almost as good an any penalty kick made during the tournament:

While it was not meant to be for the Poms, their captain Harry Kane may still win the golden boot.

5. Here’s your first look at the boys rescued from the cave in Thailand as they recover in hospital.

The boys can be seen wearing face masks and hospital gowns in their sterilised ward. Their parents can also be seen waving to them on the other side of a glass window. They will remain there for the next seven days, according to the video, followed by another 30 days of rest at home.

6. Three Australians, including the two experienced pilots, have been injured and two passengers have died after a plane crash in South Africa. The SMH reports that Ross Kelly and Douglas Haywood, both long-serving Qantas pilots, were flying the Convair CV-340 from Wonderboom Airport to Pilanesberg. The test flight, which had 19 people on board, barely made lift off before crashing at about 4.30pm on Tuesday local time (12.30am on Wednesday AEST). The third Australian is believed to be Kelly’s wife Lyndal.

7. Kylie Jenner is on the cusp of becoming the world’s youngest self-made billionaire, with Forbes estimating her net worth to be three times as large as Kim Kardashian’s. Despite being named the 27th-richest self-made woman in the US, some people have questioned Forbes’ classification of Jenner as “self-made.” Dictionary.com has even entered the debate with a brutal subtweet defining what it means to be “self-made.” Here’s just how much Jenner is worth compared to her sister:

Net worth of kylie jenner and kim kardashian westJenny Cheng/Business Insider

Here’s how Jenner makes her millions.

8. Early Google insiders have described Sergey Brin as a company “playboy” who “got around” with female employees. The claims are laid out in a new book about Google’s early company culture called “Valley of Genius: The Uncensored History of Silicon Valley.” According to an excerpt published by Vanity Fair, another early employee said that at the time she feared Brin’s behaviour would result in a sexual-harassment claim. More here.

9. Get ready. Alphabet, Google’s parent company, has announced that two research projects, Loon and Wing, will become independent businesses. Loon, the balloon-flying internet-delivery project, and Wing, which is developing a drone-delivery service, are now standalone businesses operating under the Alphabet umbrella. This is likely to mean little for Alphabet’s bottom line for the foreseeable future, but the two projects emerged from Google’s X facility, which is more focused on changing the world.

10. The perils of being an Instagram star. A model was bitten by a shark as she posed for a photo in shark infested waters while on holiday in the Bahamas. Katarina Zarutskie was floating in the water surrounded by a dozen nurse sharks when one bit her arm. This photo captures the moment:

Instagram

She told the NBC, “I will forever have a scar… [but] I am so fortunate that I still have my arm and my life.”

BONUS ITEM: When soccer is life but duty calls.

Have a great day.

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