Vorwerk Australia, the company behind Thermomix, has paid $79.2k in ACCC fines for falsely suggesting its products were “NDIS approved.” The ACCC says no products are pre-approved by the NDIS—funding depends on individual participant plans. The misleading terms appeared on Thermomix and Kobold product pages, breaching Australian Consumer Law. It follows similar enforcement against Bedshed and Ausnew, with the ACCC ramping up action against businesses targeting vulnerable consumers with false NDIS claims.

In Jet Midwest v Regional Express, the NSW Court of Appeal confirmed that owners can’t enforce proprietary rights against a company in administration without leave or consent. Jet Midwest, whose aircraft parts were in Rex’s possession, tried to reclaim them and a $200k deposit, but the Court said section 440D of the Corporations Act bars such recovery proceedings during administration. The Court emphasised that even with a strong ownership claim, it’s harder to get leave during administration because the legislative purpose of Pt 5.3A is to maximise the company’s survival or creditor returns. Unless there's urgency or compelling grounds, claims like Jet Midwest's will need to wait until administration ends: Corrs

From 28 May 2025, the Treasury officially launched the new Foreign Investment Portal (FIP)—now the go-to platform for submitting FIRB proposals, compliance reports, and fee payments. It replaces the old FIRB Application Portal, which becomes read-only until 30 June. Applicants mid-way through submissions must re-enter data into the FIP, as no submissions can be made through the old portal after 28 May.

Wotton + Kearney has opened its 11th global office—this time in Bangkok, with former Clyde & Co partner Ian Johnston at the helm. It’s the firm’s second Asia base after Singapore, as it doubles down on insurance and risk across Southeast Asia. Johnston’s expertise in insurance litigation and arb makes him to right pick to lead W+K's next push: InsuranceBusiness

It’s official: Herbert Smith Freehills and Kramer Levin have merged to form HSF Kramer in the US and Herbert Smith Freehills Kramer in the UK. With 2,700 lawyers globally, the tie-up lands the firm in the Global Top 30, capping off a seven-month transatlantic courtship. New website’s up. Integration begins now.

After snagging Bryan Paisley from Hogan Lovells, Baker McKenzie has now added Lisa Mazor as special counsel. With 25+ years in banking and finance, Mazor brings serious depth across debt, project finance and insolvency—and her previous secondments to an Aussie bank and gov export finance agency give her a rare credit-side perspective.

With barista-made brews hitting $7 a cup, Aussies are ditching cafés for instant coffee, and Nestlé’s loving it. Sales of Nescafé Gold and cappuccino sachets are surging. For the younger drinkers, coffee concentrates for iced coffees are all the rage, delivering café vibes at 90 cents a pop. Even instant is going premium as cost-of-living bites and bean prices soar: The Australian

Four Aussie unis pulled over $1bn from international student fees in 2024, with UNSW jumping 61% to lead the pack. Overseas enrolments hit a record 1.09 million, even as the government moved to cap new arrivals. With 2025 limits set to bite, experts say last year’s windfall was simple maths—more students, higher fees, record profits: AFR

Ukraine says Russia launched 472 drones overnight—the biggest drone attack since the war began. In a bold move, Ukraine claims to have destroyed 40 Russian planes, including some at a Siberian airbase. The strikes come just days before fresh peace talks in Turkey, setting a tense stage for the first face-to-face talks in years: The Economist

EMR Capital and Golden Energy: have called off the $1bn sale of Ravenswood Gold, after bids fell short of expectations. Despite record gold prices, buyers hesitated over looming $100m capex and unproven output targets. With $800m already sunk into the asset, EMR says it’s happy to hold—for now—with another sale attempt likely in 18–24 months: AFR

CVC Capital Partners: is eyeing The Arnott’s Group’s Asian arm, which includes Prego and Kimball and raked in $359m revenue in 2022—about a quarter of the group’s turnover. KKR, advised by UBS, is selling the non-biccie unit only, with Malaysian ops and market-leading pasta sauces in play: AFR

Harmony Gold: isn’t done yet. Fresh off its $1.6bn MAC Copper buy, the South African giant is eyeing further deals in the Cobar region to feed its underutilised CSA plant. Targets like Aeris Resources and Peel Mining are on watch, but sources say any move is likely post-consolidation—and not for at least a year: The Australian

Delta Lithium: is carving out its Mt Ida gold asset into Ballard Mining, aiming to raise $25m–$30m in a fresh ASX IPO. Delta keeps the lithium, while Ballard focuses on gold, with 1 share for every 11.25 Delta shares held. The move capitalises on Mt Ida’s upgraded resource and unlocks value across both metals: Mining Weekly

The ATO has walked away from a $1bn+ tax fight with US aluminium giant Alcoa, conceding after a six-year scrap over related-party pricing. The tribunal sided with Alcoa, rejecting claims it sold Aussie alumina too cheaply to offshore arms. Alcoa now gets a $107m refund. Meanwhile, other US giants like Exxon, Newmont and PepsiCo are still locked in billion-dollar ATO battles: AFR

Japan has pitched a rare earths alliance with the US, hoping to curb China’s grip on critical minerals. PM Ishiba floated the idea in a call with Trump, proposing Japan support US rare earth processing tech or shift refining to lower-cost third countries: Mining.com

ASIC’s review of 50 managers overseeing nearly $1tn in assets has uncovered widespread gaps in maintained compliance plans, especially around design and distribution obligations, internal dispute resolution, and reportable situations. The regulator says many plans don’t meet Corps Act obligations. Some firms have been put on notice, while others face active investigation for potential legal breaches: Capital Brief

HSBC is shuttering its US business banking unit, affecting around 4,500 clients, as it continues its retreat from Western markets to double down on Asia and the Middle East. The move follows earlier exits from US retail banking and M&A in the Americas. 40 staff were laid off, with some mid-market clients retained: Reuters

Property mogul Tim Gurner is launching his luxe Saint Haven wellness club in Bondi Beach, offering biohacking, cryotherapy, sound pods, and up to a $1000-a-week membership. The 1300sq m “beach club” will sit under the AVRA apartments, where penthouses go for up to $25m. With just 400 spots, Gurner says it'll fill fast: The Australian

Bain Capital is weighing up a $4bn IPO for Virgin Australia, with a decision due this week. Fundies are pushing for a discount to Qantas, while Bain eyes a front-end bookbuild to lock in pricing before lodging the prospectus. With June 30 looming, it’s now or wait months. Dave Emerson is on deck, skipping global summits to focus: AFR

TikTok is pushing back against Albo’s under-16 social media ban, launching a slick ad blitz to tout its “educational benefits” and criticising YouTube’s exemption as unfair. The Albo government is standing firm, vowing to deliver on its social media age rules and media bargaining code—but US tech giants, backed by Trump, are ramping up the pressure: The Australian

AI job listings have jumped 500% in a year as local tech firms scramble to build capabilities post-ChatGPT. Fresh off an $18m Series A, Ravio —the salary comparison start-up—claims it's now tracking 1,200+ tech companies globally. Founder Raymond Siems says pay transparency is no longer optional, “data empowers companies to act”: AFR