CBA threatens NAB’s crown as the top business bank.

Mattress maker Koala targets $500m IPO with Barrenjoey’s help.

Woodside CEO slams Australia’s 6 year approval delays.

The Fair Work Ombudsman (FWO) has released its Guide to Cooperation Agreements. A key component of the new wage theft regime is safe harbour for employers who enter into a cooperation agreement with the FWO if they suspect they may be criminally liable. These cooperation agreements can protect employers from criminal prosecution while in place. They'll include obligations like remediation programs, independent audits and mandatory compliance training: Allens

The Victorian Government is introducing a new building bill, delivering tougher rules and stronger enforcement for building quality and safety. The Bill establishes a new Building and Plumbing Commission with tough powers, including the ability to stop sales if serious defects aren't fixed. Minister for Consumer Affairs Nick Staikos says it’s an one-stop-shop approach for insurance, dispute resolution, and compliance monitoring.

Fresh off the press, the Federal Gov has just released its list of priority projects in wind, solar, battery, hybrid and transmission sectors – totalling 56 projects of interest. That’s 24 transmission, and 32 storage projects. The list tables the projects across Australia and company that will power their development.

Along with Slater & Gordon, Maurice Blackburn can’t seem to stay out of the headlines. The firm has posted a $5.4m loss for 2023-24, hit hard by class action defeats. The firm’s self-funded model—where it pays its own legal costs upfront in the hope of a win—has backfired, forcing loan renegotiations and millions in security costs: AFR

KPMG wants to merge dozens of national partnerships. The goal is to slash its global network of “economic units” from 100+ to 32 by 2026 to boost growth and avoid audit scandals. The restructuring is a follow-on of KPMG’s “clustering” strategy which saw the merging of several units in the Middle East and Africa: Capital Brief

Clifford Chance has the go-ahead to set up a joint operation with a Shanghai law firm. The new venture lets the firms offer both foreign and local Chinese legal advice, while staying financially and structurally separate: Law.com

Mark Carney takes Canada's top job: Former Bank of Canada and Bank of England governor Mark Carney has been elected Prime Minister, succeeding Justin Trudeau, who announced his resignation after nine years in power. Carney claims he's best placed to oversee trade negotiations with Trump, saying he would keep retaliatory tariffs in place until "the Americans show us respect": ABC

Speaking of elections: Albo’s approval rating has risen to 41%, according to a Newspoll. But his government is still trailing behind the Coalition, with his net approval at minus-12 as disapproval drops by five points to 53%: Bloomberg

BlackRock, the world’s largest asset manager, has significantly reduced its exposure to the Australian sharemarket, citing overvaluation and poor earnings growth compared to global peers. The firm is shifting focus to US, European equities, and Australian credit, where it sees attractive returns: AFR

Australia has world class research, but universities have struggled to spin that excellence into new startups. Some institutions even demand a 40% stake due to any IP developed on campus, leaving founders with little to offer future backers. Blackbird thinks it can change that. Enter its Foundry program, turning academics into entrepreneurs. The initiative pairs PhD students with VC leaders to foster an entrepreneurial mindset and help launch deep-tech startups. Over 45% of alumni have raised millions, with combined valuations over $200m: Capital Brief

Stocks tanked following Trump's comments of an economy ‘transition’, sparking fears economic pain. That also means a dint to super returns. Investors flocked to Treasuries for safety, avoiding risky currencies like the Aussie dollar which dropped: Bloomberg

Online mattress retailer Koala eyes a $500m ASX float, with Barrenjoey Capital Partners advising. CEO Dany Milham's return has re-energised the brand, with $194m revenue and $558k profit last year. The timing depends on comparable businesses, with Temple & Webster’s surging valuation providing a promising benchmark. Koala has declined to comment: AFR

Northern Star has scored Federal Court approval for its $5bn acquisition of De Grey Mining. The deal will see Northern Star acquire 100% of De Grey shares at $2.08 per share. The acquisition includes De Grey's Hemi project, one of the largest untapped gold projects globally, expected to boost long-term value for shareholders: Capital Brief

The country's second largest private hospital operator is about to be put up for sale. Brookfield is prepping for the Healthscope sale, with potential buyers including Ramsay Health Care, Pacific Equity Partners, and not-for-profit operators like St Vincent’s: The Australian

Palliser Capital says the benefits of ditching Rio Tinto's UK primary listing and unifying the dual-company structure would outweigh a US$450m one-off cost and a $US145m annual tax hit. A Grant Thornton report highlights "significant strategic flexibility" and better access to franking credits, pushing Rio to follow BHP’s example: AFR

Woodside’s Chief Meg O’Neill has come out swinging against Australia’s green tape. It took a whopping 6 years for Aussie Gov to green light Woodside’s North West Shelf Project. Now, at the 2025 AFR Business Summit, the CEO stressed Australia must streamline and speed up its approval process to stay competitive. O’Neill argued Australia should look to the US, which sets clear regulatory expectations and timetables.

Rio Tinto and partners at the Tomago aluminium smelter offered a $1500 "cost-of-living" payment and improved wages to 500 workers, aiming to end strike action as a settlement with union workers draws closer: The Australian

NAB’s reign as Australia’s top business bank is under threat. CBA is closing in on NAB’s 35-year dominance, with APRA data showing that while NAB still leads in business lending (21.2% vs CBA’s 18.9%), CBA has all but caught up in MFI relationships, deposits, and transaction banking: Capital Brief

ANZ wines and dines to win back business. The bank turned to old-school charm with a debt conference in the NSW wine region. ANZ has been missing in action on domestic bond deals this year. It slipped to 8th place in the 2024 KangaNews league tables (with deals down from $9.8bn to $4.2bn) as the ASIC probe into its $14bn bond trading scandal looms: The Australian

The data centre real estate action continues. The NSW government is selling 80 hectares near Western Sydney Airport, with potential to become a $1.5bn data centre or industrial estate. With industrial land supply running dry, the site could fetch $450m, as big players like Amazon expand nearby: AFR

Star Entertainment is in last-ditch talks with Salter Brothers for a $750m refinancing deal to secure its future. The property funds giant, known for hotels like the Intercontinental Rialto and Holiday Inn, could provide up to $940m in debt: AFR

Dovetail legal drama deepens. Recent court docs reveal senior leaders brushed off legal counsel Bethany Lo Russo's sexual harassment complaints, saying "it takes two to tango". And even more, Lo Russo alleges Dovetail made several termination threats, encouraging Lo Russo to consider alternative employment: Capital Brief

Apple is preparing a major software overhaul across iPhone, iPad, and Mac with iOS 19, iPadOS 19, and macOS 16. The update will bring coherent designs, including changes to icons, menus, and system buttons. This revamp, inspired by the Vision Pro, aims to simplify navigation and boost sales after sluggish growth: AFR