Firms hike fees as hours flatline

21 barristers appointed SCs in Vic

Rich listers, plus livestreaming layoffs

Thomson Reuters says worked rates jumped 7.4% last year — well above inflation at 2.8% — as firms chase revenue through pricing, not output. HSF Kramer, Ashurst and Clifford Chance all posted record results, but client pushback is rising. With demand flat and hours down, firms are leaning harder on rate hikes — a strategy that may be running out of runway: Point Blank

DLA Piper has made a major play in Australia’s tax market, poaching three senior partners and a five-strong team from Clayton Utz. Angela Wood joins as APAC Head of Tax Controversy, Brendon Lamers as Australian Tax Lead, and Andy Bubb as international tax disputes partner. It’s the latest step in their aggressive Aussie expansion: Point Blank

After six years of study, Kim K says she’s now waiting on her California bar exam results. She completed her four-year legal apprenticeship under San Fran lawyer Jessica Jackson, following her unconventional “law office study” route. If she passes, she’ll finally qualify to practise law, just as she prepares to play a divorce lawyer in her new drama All’s Fair. Her law degree is really coming in clutch: Legal Cheek

Victorian Bar President Justin Hannebery KC has congratulated 21 barristers appointed Senior Counsel by Chief Justice Richard Niall. This year’s cohort was selected from 94 applicants, with 8 women and 13 men taking silk. Here’s the list: Point Blank

IP/Disputes: Major IP cases dropping from the High Court, which are set to reshape Australia’s trade mark and misleading conduct laws. In Bed Bath ‘N’ Table v House, the Court will clarify how reputation and intent factor into passing off and consumer confusion, after lower courts split on whether “Bed & Bath” had distinctive goodwill. In the Katy Perry case, the Court must decide how far a celebrity’s reputation extends beyond their primary industry, and whether confusion should be assessed by actual or hypothetical use. Meanwhile, Zip Co’s appeal will test the scope of the “honest concurrent use” defence, and what counts as “honesty” when a business adopts a mark knowing of prior registrations. Watch this space: Mills Oakley

Corporate: The James Hardie saga continues. Investors have ousted chair Anne Lloyd and two directors in a dramatic boardroom backlash at James Hardie’s AGM in Dublin, marking its biggest governance crisis since the asbestos fallout two decades ago. Furious shareholders punished the board over the $15bn Azek acquisition, which sidestepped an Australian vote and coincided with a share price slump. Some 67% voted against Lloyd’s re-election, while 66% rejected the remuneration report and the director's fee hike. Major investor Norges Bank said the vote reflected shareholders’ right to “seek change when the board fails to act in their best interests”: The Australian

Class Actions/Disputes: The Federal Court has permitted a developer to opt out of a class action four years after the deadline, despite evidence having closed and judgment pending. Justice Anderson found the application was lodged in good faith and that forcing the developer to remain in the class would cause serious prejudice, given its separate $15m NSW Supreme Court claim over the same cladding issues. The Court held that its discretionary powers under ss 33J(3) and 33ZF of the Federal Court Act permit late opt-outs where fairness demands it. The decision, led by Hamilton Locke, underscores the flexibility of representative proceedings and confirms that late exits can still be granted: Hamilton Locke

Melanie Perkins and Cliff Obrecht have topped the AFR Young Rich List for the sixth straight year, with a combined $18.5bn fortune, up $4.5bn thanks to Canva’s rising valuation ahead of a potential 2026 float. Tech is the place to be — the top 10, worth $31.7bn collectively, is dominated by tech founders. That includes Stake’s Ed Craven, Airwallex’s Jack Zhang and Afterpay’s Nick Molnar: AFR

Amazon is cutting 14,000 corporate jobs, and laid-off staff are posting their reactions in real time across TikTok and LinkedIn. Some are joking through the shock — one while doing a “get ready with me”, one worker learned she’d been cut mid-run, and another while on holiday in Mauritius. While others are sharing tearful “day one after layoff” videos. Gen Z workers are taking their job loss publicly: Business Insider

Domino’s Pizza: swatted off rumours that it is being targeted by Bain Capital. DMP told ASX that “as far as it is aware, it has not received any proposal from Bain Capital or had any communication with that organisation”. The AFR reported that Bain was circling the struggling fast-food group, which shares jumped 23% before the company denied receiving a formal bid: AFR

Saluda Medical: is set to launch its $US150m IPO bookbuild on Thursday, targeting a $750m–$800m market cap ahead of a December ASX debut. Founded by ex-Cochlear executive John Parker, the medtech firm has developed the FDA-approved Evoke neurostimulation system for chronic pain: The Australian

Rio Tinto boss Simon Trott has unveiled a major restructure shifting decision-making closer to mine sites and away from global HQ. The plan aims to cut duplication and speed up decisions, with “product groups” like iron ore, copper and aluminium now fully accountable for performance. Insiders say the move could spark dozens of exits from MDs and GMs: AFR

Copper surged to a record $11,146 a tonne as hopes of a US–China trade breakthrough lifted sentiment on top of global supply shocks. The red metal is up 24% year-to-date, its best run since 2017, driven by mine disruptions in Chile, Africa and Indonesia and growing fears of a supply deficit into 2026: Mining.com

Morgan Stanley will acquire private shares platform EquityZen, marking CEO Ted Pick’s first deal as he pushes deeper into private markets. Founded in 2013, EquityZen has 800k users and 49k transactions across 450 companies. The bank expects $100m in integration costs as it looks to offer clients earlier access to private equity and liquidity for startup employees: Capital Brief

AUSTRAC has fined CryptoLink $56k after an 85-year-old scam victim lost $364k via its machines — the regulator has called crypto ATMs “the highest-risk money-laundering channel” in Aus. The sector moves $275m in cash a year. Home Affairs plans to give AUSTRAC the power to prohibit high-risk products such as crypto ATMs as scam losses mount: AFR

Super-backed Aware Real Estate has bought the Barracks precinct in Brissy for nearly $150m, planning to revamp the landmark site ahead of the 2032 Olympics. The 1.09ha mixed-use hub, anchored by Coles and Palace Cinemas, will be repositioned as a top dining and retail destination. CEO Tracey Whitby says it’s a “vibrant, well-connected asset”: The Australian

Webjet’s ex-chief legal counsel Meaghan Simpson is suing the travel giant, alleging she was sacked after flagging irregularities in CEO Katrina Barry’s resume. Simpson claims Barry falsely listed directorships at Westpac Securities and Virgin Active. Webjet denies the claims, calling her dismissal performance-related: AFR

Nvidia has become the world’s first US$5tn company, after shares jumped 5.2% to US$211.47, adding US$200bn in value overnight. The AI chipmaker’s stock is up 85% in six months, driving 17% of the S&P 500’s gains this year. Hopes of renewed access to China after Trump-Xi talks have fuelled momentum, just months after Nvidia passed US$4tn: Capital Brief

The Redactive founders have unveiled Quarterzip (elite name), a new AI startup focused on automating software onboarding through an AI voice and video agent. The move follows Redactive’s sale to RecordPoint, with backers including Blackbird, Felicis, Zapier and Atlassian Ventures reinvesting. The Melbourne–San Francisco startup says “activation debt” costs firms $537m annually, and it’s already working with 20 major AI and SaaS companies: Capital Brief