Good morning, early birds. China fights back against the Trump trade war with tariffs of its own. Plus, Adani wins a 12.5 billion-litre water grab. It's the news you need to know, with Chris Woods.
With major banks all around the world turning their banks on the controversial mine, Adani better dust off the ol' guitar and get busking.
It wasn't so long ago we were told it would cost too much to save jobs in car manufacturing, now we're spending even more per job on a mine that will damage the Great barrier Reef.
From the backbench to foreign policy and economics, the budget and now Alan Jones, Adani is causing Turnbull all sorts of problems, writes Australia Institute executive director Ben Oquist.
The Turnbull government appears set to expand its rampant protectionism by handing nearly a billion dollars to Adani, while urban infrastructure projects with much greater benefits go begging.
Australia's retreat into protectionism is likely to mean $1 billion in cheap money handed to the white elephant Carmichael coal project.
Adani might have state government approval for its new mine, but that doesn't mean it's a done deal.
Now that Adani has got approval for its Carmichael mine, financiers are nowhere to be seen, writes economist John Quiggin.
The Australian Conservation Federation has launched a court challenge against the government's Carmichael mine project, saying the mine could harm the Great Barrier Reef.