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Amcor will buy US-based Berry Global in a $13bn all-stock deal, creating a packaging powerhouse with $37bn in revenues and a footprint across 140 countries.

Meanwhile, the corporate regulator has read the riot act to big super firms , warning them it will crack down on the $4 trillion sector over failures to track end-to-end death benefits claims handling times and “weak” ­practices. 

And the RBA has given little hope of interest rate cuts before May and warned of scenarios where it may need to lift rates again or at least keep them at current levels for an extended period.