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…

Government assures China over Adani mega- mine approvals

China has officially been informed the controversial Adani coal mine in Central Queensland has received all government approvals, Federal Attorney-General George Brandis has told Senate Estimates. Senate crossbenchers have questioned officials from the Department of Foreign Affairs and Trade (DFAT) in Senate Estimates. The questions were sparked by a Freedom of Information request to DFAT…

China buys QLD’s The Real Pet Food Company for $1bn

A Chinese-led consortium has struck a billion-dollar deal to buy a Queensland-based pet food giant to exploit the growth of “pet humanisation” in the United States and ultimately China. The majority owner of The Real Pet Food Company (TRPC), Quadrant Private Equity, has sold its interests to the Beijing-based Hosen Capital, China’s largest agribusiness company…

Lie, cheat, steal . . . and leave: Australia’s $3m visa scam

A corrupt Immigration Department official and her husband helped run a $3 million criminal migration racket that involved making more than 1000 fraudulent visa applications. Fairfax Media can also reveal that Reetika Ajjan and her husband Jeetender were able to flee Australia three days after their home was raided by immigration and federal agents in October 2011…

Contaminated risk for western Sydney water due to poorly planned housing developments

POORLY planned housing developments in Western Sydney are contaminating the water supply and could contribute to a citywide shortage in future, NSW government documents warn. Documents obtained by The Daily Telegraph can reveal WaterNSW and Sydney Water have voiced concerns that Sydney’s urban sprawl and booming population are putting increasing pressure on the water system,…

Chinese developers buy one-third of Australia’s sites in 2016

Chinese developers bought almost 40 per cent of the total $5 billion spent on Australia’s residential development sites in 2016, with a clear trend towards buying up land in far-flung Sydney and Melbourne suburbs, new research shows. Knight Frank’s report, The Rise of Chinese Developers in Australia, found Chinese developers bought $2.4 billion of residential development sites in…

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…

Grazier says mega-mine could ruin water

HAVING lived his whole life on the land, grazier Bruce Currie is determined to leave the country he’s farmed in better shape for future generations. But he’s worried Adani’s planned Carmichael mega-mine will have irreversible effects on the only source of fresh water for much of inland Australia. Mr Currie said it was uncertain what…

Palaszczuk Government resume Emerald farmland for Adani rail link

THE State Government has resumed 3568ha of agricultural land for Adani’s rail line from the planned Carmichael Mine to Abbot Point. The decision was Gazetted last week and has angered a farm group partly backed by the Tim Flannery-led Climate Council. Land resumptions are a normal part of any infrastructure project and Adani said it…