With 11 Senate seats, the Greens are key to Labor’s legislative wins—and they're using that leverage. After securing the now-law right to disconnect, they’re pushing for more:

The Full Federal Court overturned a ruling that a mortgage granted by Runtong was an unreasonable director-related transaction. CEG had loaned funds to Datong and Futong—related entities to Runtong, secured by a second mortgage over Runtong’s land. All three shared directors had personally guaranteed the loans. The mortgage reduced the directors’ exposure, but the Court found that wasn’t enough to void the deal. Yes, the mortgage benefited the directors, but benefit alone isn’t enough. The Court found that Runtong was financially dependent on Datong and Futong, and the companies operated as a cooperative property group. Supporting their funding was commercially rational. The case confirms that a director's benefit may not be fatal if the deal makes commercial sense.

Let’s talk PE. Forget crowded auctions— new data from HSF Kramer shows that 78% of PE sales in 2024 went bilateral, as sellers traded price tension for speed and certainty. With volatile markets and tougher valuations, firms like BGH and TPG are quietly pre-identifying buyers, setting a ballpark price, and prepping DD packs to strike quickly. Deals like Greencross, MYOB and Superior Foods show the shift. Advisors are being forced to rethink their playbooks, as classic auction dynamics fade. And with tariffs fears looming, sellers are now pushing back on material adverse change clauses, wary of buyers walking at the first sign of drama: AFR

The Fair Work Commission is gearing up to review 22 awards, covering graduate lawyers, academics, architects, actors and other professionals, flagging possible gender-based pay rises. With 70% of award-reliant professionals being women, the FWC says these roles may have been historically undervalued. Come July, female grads could see major bumps to award rates: AFR

McKinsey says its new AI tool Lilli is now basically part of the team—drafting proposals, creating PowerPoints, and mimicking tone, all from a simple prompt. Lilli is an ode to Lilli Dombrowski — the first professional woman hired by McKinsey in ‘45. Over 75% of staff use it monthly, and leadership says it’s freeing up juniors for higher-value work (i.e. no more soul-crushing deck edits): Bloomberg

Nearly 3 million workers will get a 3.5% pay bump from 1 July, after the Fair Work Commission’s annual minimum wage ruling. That’s about $32 extra a week, outpacing inflation (2.4%) but falling short of union calls for 4.5%. It’s a modest real wage win after years of going backwards, though small biz groups say they’re footing the bill on already razor-thin margins: ABC

Federal climate spending has surged from $600m to $9bn a year, up 400% since Labor took office. But with Australia’s emissions only falling 2.8% compared to 2005 and power prices still rising, critics are asking: is it delivering value? CBA’s chief economist says it's backing renewables to hit the 82% target, but delays, bottlenecks, and cost blowouts suggest the road to net zero is getting bumpier: The Australian

Elon Musk torched Trump’s budget as a “disgusting abomination” just days after quitting government. Meanwhile, EU-Australia are pushing for a deal with trade talks back on. Albanese’s pushing hard, but it’s a diplomatic salad with beef and feta remaining sticking points. As Trump’s tariff threats looom, both sides are racing to lock in a plan B: AFR

TPG Capital: has tapped Bank of America to sell Made Group, eyeing a $700m+ price tag—double what it paid in 2021 when it bought a 60% stake from Coca-Cola. Made’s since expanded into Asia, snapped up Epicurean Dairy NZ, and opened a Thai plant. Despite cost headwinds, its Cocobella and Rokeby Farms brands still pack punch: The Australian

CoStar: has dropped a small fortune to buy the Homes.com.au web domain name from property developer Pat Carbone—$22.8m to be exact. The US giant says the clean URL gives “optionality” to rebrand or flank Domain entirely. The shareholder votes in August—Nine’s backing it, with a $777m special dividend on the table. G+T are acting for Domain, and Corrs are advising CoStar: AFR

GemLife: has lit the fuse on its $2bn ASX debut, locking in a $700m IPO with books to open next week. Fund managers have until Friday to lock in cornerstone bids before JPMorgan, Morgan Stanley, and Highbury swing the books open. With $100m+ EBITDA from 10,000 homes, it’s pitched as a retirement living disruptor: AFR

Virgin Australia: launches its highly anticipated IPO bookbuild to raise $685m at $2.90 a share. That’s a 30% discount to Qantas. The offer values Virgin at 7x FY25 earnings, with Bain Capital trimming to 40% and IPO investors taking nearly 30%. And UBS, Goldman and Barrenjoey say the book’s already covered at launch. G+T is rumoured to have the IPO mandate: AFR

Woodside has escalated its tax fight with Senegal to international arbitration, lodging a claim against the West African country with the World Bank’s investment dispute centre. It’s over alleged unpaid taxes tied to its 82% stake in the Sangomar oil and gas field. Despite earlier talks, the Aussie energy giant says key issues remain unresolved and it owes nothing: Mining Weekly

Albo says WA nailed it with its gas reservation scheme, and confirmed Fed already has powers to force east coast producers to sell locally. The East Coast review is underway, and Chris Bowen’s not ruling out new reservation rules. WA’s model requires 15% of gas to stay onshore, and some in Labor want to mirror that nationally: AFR

Nothing like a good ol’ employee survey to expose shortcomings. A staff survey at Rest Super found nearly half the investment governance team is thinking of quitting, and only four of a 17-person team said they understood who’s responsible for managing risk and how. Rest’s trying to fix it via Project Scarlet to fix death claim delays and Helix to prep for new APRA risk rules—but insiders clearly aren’t convinced: AFR

ASIC is suing Westpac’s RAMS Home Loans for systemic misconduct, alleging franchisees used fake payslips, dodgy contracts, and altered customer expenses to push loans through and earn commissions. Ouch. Westpac shut RAMS to new biz last year and is cooperating with ASIC. A class action from ex-franchisees is also still looming: AFR

From coworking hub to luxury wellness centre, the Commons is splashing $35m on two luxe health clubs in Richmond and South Yarra, pairing bathhouses, sound therapy and magnesium soaks with co-working. Designed by Design Office, the move seeks to tap into the booming wellness-meets-work trend and go head-to-head with players like Gurner’s Saint Haven, with Sydney expansion plans to come. Weekly memberships start at $79: AFR

Lendlease wants 10,000 build-to-rent units under its belt, with CEO Tony Lombardo pitching the plan as key to tackling the housing crisis. And there’s the added bonus of a $2.8bn retail fund under management. Backed by $200m in capital and a $2bn pipeline, the plan targets retail sites like Sunshine Plaza and Macarthur Square to stack homes above shopping centres: The Australian

Elon Musk is raising US$5bn in debt for xAI, his AI startup, to fund a massive data centre in Memphis dubbed Colossus. Morgan Stanley is pitching the loans at up to 12% interest, with the debt sale already generating demand over US$3.5bn. The move signals Musk’s shift back to his roots—from Washington adviser back to empire builder: Bloomberg

Telstra’s now letting customers send texts with no mobile signal, using Starlink satellites via Samsung Galaxy S25s, with iPhones up next. It’s the first Aussie telco to go live, beating Optus and TPG, whose plans were hit by regulatory delays. Voice and data services are still years off, but it’s a major leap for remote connectivity: AFR