China arrests Australian writer Yang Hengjun on spying charges

Yang Hengjun relaxes in China
Chinese-Australian novelist and former diplomat Yang Hengjun. Photo: Yang Hengjun/Twitter

The Australian government said in a statement Tuesday it's "very concerned" that Chinese-Australian writer Yang Hengjun has been formally arrested on espionage charges in China after being in detention for months.

Why it matters: The arrest of the New York-based writer comes at a tense time between Australia and China after the U.S. pressed Australia to take a stronger stance against Beijing, per the New York Times, which notes that Secretary of State Mike Pompeo said on a recent trip to Sydney that China’s increasingly aggressive behavior worldwide required greater attention and pushback.

Campbell Soup selling Australian snacks unit for $2.2 billion

Arnott's TimTam snack
Photo: Al Seib/Los Angeles Times/Getty Images

Campbell Soup has signed a deal to sell its Australian snacks unit Arnott’s and some of its international operations to KKR for $2.2 billion.

Why it matters: Arnott’s is the biggest single brand in Campbell’s international portfolio, with $737 million in annual revenue.