US arrests alleged Chinese spy after extradition from Belgium
US authorities said Wednesday they have arrested a Chinese intelligence agent after he was extradited from Belgium, accusing him of a state-sponsored effort to steal American trade secrets.The Justice Department said Xu Yanjun, an official of the Ministry of State Security, had plotted since 2013 to obtain trade secrets of GE Aviation and other companies.An…
Dr Cooper toasted as world brew president
The boss of Coopers Brewery has been appointed president of the brewing and distilling industries’ largest global body. Tim Cooper, managing director of the largest Australian-owned beer company, will serve a one-year term at the head of the 5,000-member Institute of Brewing and Distilling. Dr Cooper, who is also head brewer at the family-run South…
Reef foundation confident ahead of inquiry
The Great Barrier Reef Foundation is ‘extremely confident’ it can scale-up to use a record $444 million government grant, as its chairman prepares to face a grilling over the decision. Hearings will be held in Canberra on September 18 and 21 over the grant, which the foundation received without a competitive tender process. The foundation…
Nine profit jumps as ad revenues return
Nine Entertainment’s full-year profit has jumped 26.8 per cent to $156.7 million, driven by strong earnings from its free-to-air television operations and the accelerated growth of its digital businesses. Revenue for the year to June 30 was up 6.5 per cent to $1.32 billion, with both digital and television businesses reporting revenue growth of seven…
China economic data
Home building supports Chinese economyChinese economic dataChinese retail sales rose at an 8.8 per cent annual rate in the year to July, (forecast: +9.1 per cent), down from 9.0 per cent in June.Chinese industrial production rose at a 6.0 per cent annual rate in June, below the forecast average (+6.3 per cent). Production had risen…
Mnuchin insists agriculture was part of US-EU trade talks
The US treasury secretary insisted Sunday that agricultural issues were discussed in President Donald Trump’s talks last week with Jean-Claude Juncker, contradicting the EU Commission president’s account of the negotiations.‘I was in the room and we had specific conversations about agriculture and the need to break down the barriers on agriculture and have more opportunities…
Rolls-Royce unveils hybrid flying taxi at Farnborough
British engine maker Rolls-Royce revealed plans this week to develop a hybrid electric vehicle, dubbed the ‘flying taxi’, which takes off and lands vertically and could be airborne within five years.The London-listed aerospace giant, which is based in Derby in central England, showed off the plans at the Farnborough Airshow for the first time, as…
Tesla production leader Doug Field exits company
Tesla on Monday confirmed that the head of Model 3 production, who went on leave after chief executive Elon Musk took over his duties, will not be returning.The departure of engineering senior vice president Doug Field came as California-based Tesla appeared to have finally hit a self-imposed goal of cranking out 5,000 Model 3 electric…
A tale of two sectors
The stories of two sectors – Banks and Industrials – illustrates that while some current PE ratings are at levels not seen since before the dotcom bust, others are falling into line with long-run expectations.It is now passé to say the Australian equity market is becoming fully valued, led by the TIHCs – Technology, Infrastructure,…
Former Domain CEO lands new property gig
Former Domain chief executive Antony Catalano has taken up a leadership role at the real estate advertiser’s biggest client, as the search for his replacement at Domain continues. Mr Catalano quit as chief executive of Domain in January, just two months after it listed on the ASX, as the demands of his role and absence…
