Thank you for reading the Australian Financial Review blog. That’s a wrap. Some of our top stories for the day include:

• Israeli tanks advanced further into Rafah on Tuesday (Wednesday AEST), according to witnesses, as the Israeli military said it was expanding operations in the southern Gazan city even amid growing international condemnation.
• A cost crunch has killed the Carringbush Hotel. The inner Melbourne watering hole will close its doors on Sunday at 10pm as the business succumbs to soaring expenses that co-owner Liam Matthews says are hitting pubs, bars, restaurants and cafes especially hard.
• Treasurer Jim Chalmers is wrong to rule out reforms to Australia’s corporate tax regime, business leaders and experts say, urging Labor to take up calls from Industry Minister Ed Husic for overdue change.