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Good morning, readers. Here’s what is shaping the business landscape:

In a move likely to inflame tensions with Beijing, Treasurer Josh Frydenberg has blocked CK Infrastructure’s bid for APA.
Commonwealth Bank once dreamt of being recognised for its deep commitment to ethics, while red flags were being waved.
BHP’s landmark $592 million tax settlement has taken it a step closer to unwinding its contentious dual-listed structure.

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