👋 G’day

Today’s brief:

  • Corrs adopts Harvey firmwide

  • WFH rights across an occupation

  • Paramount gambles for Warner Bros

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WORD ON THE STREET

Corrs backs Harvey

Corrs Chambers Westgarth has rolled out Harvey firmwide after a full market scan, backing the platform to handle complex work at scale. The call signals a long-term AI play, not a pilot. It also puts Corrs alongside Ashurst, G+T and KWM, as Harvey’s Aussie footprint spreads into law schools and top-tiers alike: Point Blank

  • KPMG leaned on its own AI playbook to push Grant Thornton into a fee cut, arguing automation should make audits cheaper. It worked, with the 2025 audit bill dropping 14%. The irony means clients could take the same move to demand AI savings from their accountants: AFR

  • HSF Kramer has signed for a new London HQ at 1 Appold Street, Broadgate, with a 2030 move-in pencilled in. Think bike facilities, rooftop terrace, and a long-term bet on London, as rival City firms reshuffle their real estate too: Legal Cheek

  • EY is putting AI at the centre of its consulting playbook, betting that firms that fully embed it can lift revenue by 65%. The thing is only half of Aussie companies even have an AI plan. EY says the gap is now about execution and governance — not hype, as clients scramble to move from pilots to enterprise-wide rollout: Capital Brief

PRACTICE POINTS

First cyber penalty

⚖️ Regulatory/Cyber: Cyber enforcement is top of mind for ASIC. The Federal Court has hit FIIG Securities with $2.5m in penalties for prolonged. Matters were only made worse when a 2023 hack leaked 385GB of sensitive client data onto the dark web. In ASIC’s action, the Court accepted FIIG breached its AFS licence obligations by failing to resource, monitor and test cyber controls fit for a firm holding ~$3bn in client assets. FIIG must also fund ASIC’s costs and run an independent expert-led compliance program. ASIC called it the first Federal Court-imposed civil penalty for cyber failures under the general AFS obligations: ASIC

⚖️ Unfair Contract Terms: ASIC and the ACCC kept unfair contract terms front and centre in 2025. The Federal Court found a tiered arbitration clause unfair despite applying to both sides. The Court pointed to cost, delay and lack of real transparency for retail consumers who’d effectively lost access to courts and class actions. Meanwhile, in ASIC v Auto & General Insurance, the Full Court upheld a broad insurance notification clause, stressing how a reasonable consumer would read it alongside statutory protections under the Insurance Contracts Act. And in Anderson v Kincumber Nautical Village, a fee escalation formula was struck down as creating a significant imbalance with no evidence that it was reasonably necessary: KWM

⚖️ Employment: The Fair Work Commission has ruled that a dismissal was harsh, despite accepting there was a valid reason, after a worker made racially offensive comments at a toolbox meeting. The employer moved straight to termination for serious misconduct without first putting the allegations to the employee or giving him a chance to respond. That procedural shortcut proved fatal. The Commission stressed that even where conduct is unacceptable, basic procedural fairness isn’t optional, and small business size or lack of HR capability won’t excuse it. That resulted in modest compensation (about $4k) reflecting only a short hypothetical continued employment period: Piper Alderman

TALKING POINTS

WFH world-first

Did you hear…

Australia may have world-first WFH rights. Unions want a default right to work from home for almost 2 million clerical, admin and IT workers. Employers told the Fair Work Commission it would be unprecedented globally. Research shows no country gives an automatic WFH presumption across an entire occupation. The bid, led by the Australian Services Union, could reset flexible work rules: AFR

Also…

ASX boss Helen Lofthouse will step down in May as the bourse eyes CHESS go-live after years of outages and regulatory heat. CSL’s Paul McKenzie quit effective immediately ahead of results. Looks like succession is back on boards’ agendas: Bloomberg

DEAL ROOM

Break fee gambit

🎬 Paramount Skydance has sweetened its hostile bid for Warner Bros Discovery, offering to stump up a US$2.8bn Netflix break fee, cover US$1.5bn of refinancing costs, and add a 25c-per-share quarterly “ticking fee” if the deal drags past Dec 2026. The move ups pressure on WBD’s board as it pushes shareholders toward the rival Netflix deal: Reuters

🛜 Aussie Broadband is buying AGL Energy’s telco arm in a $115m scrip deal, adding ~350k broadband and mobile services and striking an exclusive long-term partnership to sell telco under the AGL brand: ASX

SECTOR SNAPSHOT

All in, or out

DIGGERS

🚜 Pilbara Minerals has struck a rare lithium offtake with China’s Canmax that locks in a US$1,000/t floor price, nearly double prices six months ago. CEO Dale Henderson is now urging Western governments to follow suit, putting price floors and state-backed support back on the policy agenda: AFR

FIN

🏦 CBA smashed expectations with $5.44bn interim cash profit, up 6%. The boost was driven by a strong labour market, easing rates, and improving credit quality. Matt Comyn also flagged AI and energy investment driving economic activity. Shareholders get a $2.35 fully franked interim dividend, up 10c: The Australian

RETAIL + REAL ESTATE

🏠 REA Group has launched a ChatGPT-native property search app, letting buyers run natural language searches inside AI and pull live listings from realestate.com.au. The play targets younger, tech-savvy users and leans on REA’s proprietary data as a defensive moat against global tech platforms circling: The Australian

TECH + STARTUPS

📱 Google is offering voluntary exit packages to parts of its business unit, telling staff to be “all in” and embrace AI or take a payout. Customer-facing roles are spared, but sales, solutions and corp dev aren’t. AI-first culture shifts are driving workforce reshuffles, not just cutting costs: Business Insider

JOBS

Solicitor, Sydney

Insurance (Front End)

Supervising Associate, London

Real Estate Finance

P.S.

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