Today
Hedge funds hit with steepest margin calls since COVID-19 crisis
Wall Street banks have asked their hedge fund clients to stump up more money as security for their loans because the value of their holdings had tumbled.
Musk splits with Trump on tariffs – wants US-Europe free trade zone
The first buddy also attacked Donald Trump’s trade adviser Peter Navarro; Scott Bessent was out of the loop on tariffs; Peter Dutton’s big cut to student visas. Follow the latest here.
The anti-MAGA hat goes global
The very success of the MAGA hat as a symbol of political allegiance has also made it an effective weapon of the opposition, at least internationally.
US starts collecting Trump’s 10pc tariff, smashing trade norms
The initial 10 per cent “baseline” levy paid by American importers took effect at seaports, airports and customs warehouses on Saturday.
Yesterday
Clock ticks on Keir Starmer’s cautious Trump strategy
The UK prime minister has set himself apart from most other European leaders by taking a pragmatic approach to Donald Trump that detractors have accused of being fawning.
This Month
The real reason Trump is taking a whack at Aussie beef
Local cattlemen say American ranchers don’t sell their beef in Australia because it is not economical to do so.
Trade war could bring cheaper cars, appliances, clothes to Australia
Economists expect the US tariffs to be modestly deflationary for Australia, as global manufacturers redirect exports that would have otherwise gone to the US.
Trump’s tariffs bring economic havoc. How Australia can limit the damage
By swinging a wrecking ball through Asian economies with his mindless tariffs, Donald Trump has upended Australia’s neighbours and opened the door to China.
Trump’s colossal misjudgment will cost the US – and the world – dearly
Donald Trump is pretending the sharemarket carnage is all part of his grand plan to use tariffs to reboot the US economy. What happens when Main Street revolts?
Our car market proves why Trump’s tariffs won’t help America
America’s biggest car makers have long since lost interest in building vehicles that the rest of the world needs or wants.
ASX wipes $35b; Hackers attack super funds; Joe Aston on James Hardie
Read everything that’s happened in the news so far today.
Trump taxes Aussie beef that makes US hamburgers cheaper and healthier
Let’s hold the line and let the US government explain to its citizens and burger consumers why their burgers are more costly from tonight.
The White Lotus is the first great post-‘woke’ piece of art
The show canvasses the last remaining taboos and puts them all on-screen, with a luxury hotel or a superyacht as the backdrop.
Yellen and Hockey ride out Trump tariffs at Cafe Sydney
The former US treasury secretary was spotted lunching in Sydney as tariff news roiled global markets.
Trump’s tariffs call for regional foreign policy response
The political class must resist the temptation to be swept up in the parochialism of current events.
How Trump has soured my American dream
There was a chilling edge to the president’s declaration this would be “an entirely different country within a short period of time”.
PM stumbles off stage at union event
The prime minister stumbled off stage at a union event in NSW; Bob Carr says Australia’s alliance with the US “counts for nothing” after Trump’s tariffs. Here’s how the day unfolded.
Trump trade risks go back to the 1890s
The president’s American tariff hero William McKinley shows how this new trade war will go wrong.
4 charts reveal whether to cash out as markets tank
Warren Buffett, Li Ka-shing and Chanticleer emeritus Tony Boyd cashed up before Donald Trump roiled markets. Did they do the right thing?
RBA frets over global markets, hedge fund leverage
Australian households have weathered high interest but the Reserve Bank of Australia is worried about a global market storm that’s coming our way.