Universities could soon be facing major funding changes as the biggest review of the sector in decades calls for a radical reshaping of the tertiary education sector.

The tax office is investigating a suspected $180 million tax fraud by a top formwork contractor in the construction industry that could end up as the biggest tax fraud in Australian corporate history.

Australia’s big four consulting firms have seen the value of contracts awarded by the Commonwealth nearly halve in value following the federal government’s cold war against the sector after the PwC tax scandal.

French building giant Saint-Gobain has sealed a $4.32bn takeover offer for CSR that includes accepting liability for the Australian company’s asbestos claims.

Optus is laying off almost 200 staff from the company after cutting 600 jobs last year which the union says had a major impact during the telco’s national outage in November.

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