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Australia Rejects $300M Chinese-Bid for Construction Giant Probuild A multi-million dollar bid by one of the world’s largest construction firms to acquire a majority stake in Australian-based Probuild has been blocked by the foreign investment regulator and Treasurer Josh Frydenberg. The almost $300 million bid by the state-owned China State Construction Engineering Corporation (CSCEC) to acquire an 88 percent stake in Probuild was rejected on “the grounds of national security” by the Foreign Investment Review Board (FIRB). According to an investor notice from current Probuild owner, So...

Treasurer Josh Frydenberg has shot down an offer made by state-owned China State Construction Engineering Corporation to acquire Australian-based company Probuild.  

Treasurer Josh Frydenberg has barred a lucrative Chinese takeover bid over fears it could pose a national security risk.

2021 in accountancy: new year, new job? 7 January 2021: If finding a new job or getting a promotion is on your New Year’s resolution list, take a look at our expert tips on moving your career up a gear in 2021 and find out how ICAEW Jobs can support your search. COVID-19 has caused untold upheaval to the jobs market and many, including accountants, have found themselves out of work and looking for a new role. It has also made many of us reassess our priorities and look closely at what we really want to be spending our time doing.  But what’s the best way to go...

Single women allocated a quarter of cash raised through equity release towards gifts to family and friends through the first three quarters of 2020, data from HUB Financial Solutions has revealed. In contrast, single men planned to gift just 13% of the property wealth they released – about half the proportion compared to single women. Some 50% of men intended the funds for financial reasons such as increasing income or restructuring debt. Single men also allocated a substantially higher proportion of equity release proceeds for divorce costs, spending 9% of all the money released for this p...