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Japan's biggest LNG buyer has delivered a bombshell warning to Australia, threatening to tap rival nations for supply and putting thousands of jobs at risk, unless policy changes are urgently made to fix the state of the local $70bn industry.

Meanwhile, Santos boss Kevin Gallagher has declared the looming eastern seaboard gas supply crisis the result of tying energy policy to climate strategies and says Australia should follow the US example and decouple the two. 

And technology stocks are likely to be the biggest Wall Street casualties of Donald Trump’s trade war. It's split fund managers whether last year's market darlings are suddenly an attractive way to play the AI boom, or the weakest link in an escalating geopolitical feud.