House prices face China exodus risk, says former top US Federal Reserve Economist

Soaring house prices are vulnerable to a sharp downturn that would damage the local economy if Chinese buyers retreat from residential property in Australia, a former top US Federal Reserve official has warned.Nellie Liang, who recently visited Sydney and shared her thoughts on financial stability research with the Reserve Bank of Australia, told The Australian Financial Review policymakers…

Lethal asbestos pouring through our borders made in China

BUILDING materials laced with lethal asbestos are landing in our homes and building sites, as Chinese companies flout Australia’s ban.Australian Border Force identified a staggering 8643 shipments as “high risk” for asbestos during 2016-17, but only examined 761 — leaving 90 per cent to slip through to building sites, hardware stores and supermarkets. It seized 64…

Australian owned Weis company sold to international giant Unilever.

WEIS, one of Queensland’s most beloved ice cream companies has been bought up by international giant Unilever. Weis, which began its life when Les Weis started selling his iconic Fruito Bar in 1957, operates from a factory in Toowoomba.Unilever, who already own Streets ice cream, today announced it has entered into a definitive agreement to…

Australian owned Weis sold to international giant Unilever.

WEIS, one of Queensland’s most beloved ice cream companies has been bought up by international giant Unilever. Weis, which began its life when Les Weis started selling his iconic Fruito Bar in 1957, operates from a factory in Toowoomba.Unilever, who already own Streets ice cream, today announced it has entered into a definitive agreement to…

Tests find white spot disease DNA in supermarket seafood products

A Queensland academic is warning that lifting a ban on the importation of green prawns into Australia is "fraught with danger" and like "playing with fire". On Wednesday Dr Knibb presented the results of the USC Aquaculture Genetics Research Group testing to the Australian Prawn Farmers symposium on the Gold Coast, telling delegates the affected…

Aussies accepting farm sales to China claimed Australia-China Relations Institute

Australians are not as opposed to Chinese investors buying local farms and agricultural assets as often claimed, the Australia-China Relations Institute said. Institute deputy director James Laurenceson said a survey by the group showed the Australian public was more nuanced and sophisticated about the benefits and disadvantages of greater foreign investment in agriculture by Chinese…

PM defends funding to help Indonesia boost tourism, create 10 new Balis

Malcolm Turnbull has defended Australia's decision to provide money to the World Bank to help boost Indonesian tourism and create 10 so-called "new Balis".During a trip to Broome the prime minister dismissed claims the unknown contribution would encourage Australians to skip local tourism destinations in Australia's north, like the Kimberley region in Western Australia."We are…

The shoe that could give your child cancer: Product recall

A PRODUCT recall has been issued for children's shoes which authorities say have a poisonous lining that could could cause cancer.  The shoes, sold onto the Australian market by the clothing website Next UK, contain the toxic substance benzidine in the lining.  The shoes in question are described as navy strap brogue shoes.  "The lining…