BUSINESS CONTROL
REPORTED TRANSFERS
BRITISH TO AMERICAN
(By Telegraph—Press Association—Copyright.) (Received September 5, 10 a.m.) CANBERRA, This Day. According to the "Sun" representative, the control of certain Australian firms is now passing into the hands of the United States because of Great Britain's difficulties in financing her American purchases. Commonwealth officials, it is stated, have learned of instances where British firms, with subsidiaries in Australia, have sold their Australian interests in order to obtain dollar exchange. In ,one case, it was reported, this has resulted in an Australian executive being replaced by American management.
These transfers from the United Kingdom to the United States direction are expected to become more frequent.
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Bibliographic details
Evening Post, Volume CXXX, Issue 58, 5 September 1940, Page 14
Word Count
111BUSINESS CONTROL Evening Post, Volume CXXX, Issue 58, 5 September 1940, Page 14
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