Australia Tightens Rules for Foreign Investors as Pandemic Drags Down Economy

The Morrison government has granted the treasurer powers to block all foreign bids for Australian companies under tighter investment rules sparked by the Chinese Communist Party virus pandemic, also known as the coronavirus pandemic.

Treasurer Josh Frydenberg will be able to block any overseas takeovers after the threshold to intervene was temporarily slashed from A$1.2 billion to zero.

It comes amid concerns cashed-up foreign predators could target Australian businesses following major losses on the share market and a weaker Australian dollar. read more