China will finance Adani mine, insiders say, but it will cost Australian jobs

The Adani Group is close to securing finance for its controversial coal mine and railway project in outback Queensland, with an announcement expected in coming weeks that Chinese state-owned enterprises, banks, and export credit agencies are backing the venture. Australian taxpayers may be let off the hook under the deal, which could mean Adani no…

Foreign ownership surcharge could turn buyers away, agents warn

Foreign investment surcharge could turn buyers away from South Australia, agents warn Real estate agents specialising in overseas investors have warned the South Australian Government the way a new levy on foreign investment in residential property is being applied will damage the state’s reputation as a good place to invest. Treasurer Tom Koutsantonis last week…

Chinese state-owned company in talks with Adani to bankroll mine

For years it has been a mystery where Adani would get the money to build its giant Carmichael coal mine in North Queensland. Now we may have the answer. The ABC has learned that a Chinese state-owned enterprise, China Machinery Engineering Corporation (CMEC), is in negotiations with Adani and its principal engineering and procurement contractor,…

Murray Goulburn sold to Canadian – owned Saputo for $1.3 billion

CANADIAN family dairy company Saputo Inc has won the battle for Victorian-based dairy co-operative Murray Goulburn. Murray Goulburn has announced it has entered into a binding agreement to sell to Saputo Dairy Australia Pty Ltd, the Australian arm of the Canadian dairy giant, for $1.3 billion. The deal is subject to approval from the Foreign…

Sydney’s new trains will be built in China in a $1.7 billion deal

New trains for Sydney’s rail work will be built in China under a $1.7 billion contract. Engineering group Downer EDI Ltd announced today that it had been awarded the Sydney Growth Trains contract by Transport for New South Wales. Downer shares were up 2.2% to $5.79 in early trade. The contract includes 24 double-deck trains…

Former Goldman Sachs banker announced as new ASIC boss

The Federal Government has scrambled to appoint former Goldman Sachs banker James Shipton to replace Greg Medcraft as chairman of the Australian Securities and Investments Commission (ASIC). Financial Services Minister Kelly O’Dwyer said Mr Shipton brings more than 20 years’ experience to the corporate regulator after roles at Goldman Sachs as a managing director and…

Chinese buy 51pc in Bindaree Beef, Australia’s fourth largest beef processor

Expansion plans are on the horizon again for Bindaree Beef after Hong Kong’s wealthy Hui family this week bought a 51 per cent stake in the northern NSW group in partnership with Beijing-based equity fund, Archstone Investment. The McDonald family’s Bindaree Beef Group (BBG) is Australia’s fourth largest beef processor, which owns the Inverell abattoir…

Chinese buy 51pc in Bindaree Beef, Australia’s fourth largest beef processor,

Expansion plans are on the horizon again for Bindaree Beef after Hong Kong’s wealthy Hui family this week bought a 51 per cent stake in the northern NSW group in partnership with Beijing-based equity fund, Archstone Investment. The McDonald family’s Bindaree Beef Group (BBG) is Australia’s fourth largest beef processor, which owns the Inverell abattoir…

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…