The legal industry's latest brainwave, using AI to replace junior grunt work, is quietly hollowing out how young lawyers actually learn. Shock. New research interviewing leaders at A&O Shearman, HSFK and Baker McKenzie warns that pushing juniors prematurely into higher-level work risks leaving critical skills underdeveloped. One participant flagged that AI outputs increasingly get waved through unscrutinised. Then how do you train junior lawyers in an AI-enabled environment? According to the report, nobody knows yet: Legal Cheek

⚖️ Disclosure/Regulatory: ASIC has copped a comprehensive loss in the Federal Court, with Justice Scott Goodman dismissing the regulator's entire case against Nuix and ordering ASIC to pay costs. ASIC had alleged that Nuix made misleading or deceptive statements in its February and March 2021 ASX updates by reaffirming prospectus forecasts, and that its then-directors breached their duties. Goodman wasn't satisfied ASIC had established any contravention, finding Nuix had reasonable grounds for its re-affirmation. All director claims fell with the main case. ASIC is weighing an appeal: Capital Brief

⚖️ Disputes/Arbitration: A NSW Supreme Court decision in Dnata Airport Services v Polar Air Cargo is a sharp reminder to draft arbitration clauses with precision. Sweeney J held that the disputed clause wasn't a binding arbitration agreement under the International Arbitration Act 1974 (Cth), finding the phrases "the parties may elect" and "in the event that the parties fail to agree to the arbitration process" made arbitration optional, requiring mutual consent: Mallesons

⚖️ Financial Services: ASIC has issued warning notices to four finfluencers suspected of providing unlicensed financial advice, including promoting guaranteed returns, as part of the second Global Week of Action Against Unlawful Finfluencers involving 17 regulators worldwide. ASIC has also contacted three AFS licensees to review their supervision of 15 finfluencer authorised representatives, reminding them that liability for breaches stays with the licensee, not the influencer. With 63% of Gen Z Australians relying on social media for financial information, ASIC has flagged that it will keep monitoring and won't hesitate to enforce: ASIC

The UK is bracing for the sixth UK PM in seven years. Starmer is on thin ice, facing increasing criticism, including from his own backbenchers. The trigger behind the fallout is appointing Peter Mandelson as Washington ambassador, a twice-resigned cabinet minister with Epstein ties, then Starmer claiming he was "furious" about the whole thing. May council elections could finish him off, and nobody's even settled on a successor yet: ABC News

Albo's quietly killing off the gas tax push before next month's budget, buying the industry's line that LNG giants already fork out $22bn a year in taxes and royalties. The Middle East conflict made it politically trickier, with Australia needing to play reliable supplier to Asia. Still, Senator Pocock's campaign is cutting through in Caucus, so don't expect this one to stay buried for long: ABC News

🎬 Warner Bros Discovery shareholders have overwhelmingly backed Paramount Skydance's US$110bn (A$154.5bn) takeover, with stockholders set to pocket US$31 per share in cash at close. Antitrust review across the US and EU is still live, with a US$7bn breakup fee on the table if regulators say no. If closing slips past 25 Sep, shareholders collect a US$0.25 quarterly ticking fee: Capital Brief

💰 Mallesons and Allens steered NextDC's $2.2bn dual-track raise, pairing a $1.5bn accelerated non-renounceable entitlement offer at $12.70 with a $700m hybrid uplift anchored by Canadian pension giant La Caisse. The raise was triggered by a 250MW lease at its S4 Sydney data centre, widely tipped as Microsoft. Mallesons acted for NextDC; Allens for La Caisse: Point Blank

🥙 Whiteoak Growth Fund II has taken a significant stake in Zeus Street Greek, the 45-store modern Greek QSR chain behind gyros, souvlaki and "Spartan bowls", in a share purchase from founders, who're staying on as shareholders. The chain is targeting 75 stores in two years and 150 by 2030. Corrs advised Whiteoak: Point Blank