US stocks rebounded overnight as a spate of quarterly earnings reports and hints at the de-escalation of US-China trade tensions brought buyers in from the sidelines.
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Brownes Dairy put up for sale
Western Australia’s largest dairy company, Brownes, has been put up for sale after its Chinese owner got into financial difficulty over a $200 million loan.
Brownes Dairy has been owned since 2017 by Australian Zhiran Co Pty Ltd.
McGrathNicol will oversee the sale of Brownes after being appointed as receivers of Australian Zhiran.
The receivership is not expected to affect the day-to-day operations of Brownes, which recently reported an increase in sales revenue and profit.
Tom Zaunmayr speaks with some of the state’s leading honey producers.