Your morning coffee could get even more pricey with bean prices surging.

A&O Shearman has gone toe-to-toe with US counterparts, matching the A$215k bonuses.

To sum up Hastings’ AGM: a leap of faith against a stock down 99%.

Twice now, the Takeovers Panel has shot down Zentree’s application to declare unacceptable circumstances in the case of ERA’s potential capital raise. Zentree, a minority shareholder in ERA, argued that Rio Tinto—with an 86.3% stake—was pursuing a long-term strategy to acquire 100% of ERA without offering a premium to minority shareholders. However, the Panel sided with ERA’s Independent Board Committee (IBC), finding their decisions on the raised price and amount were based on "rational corporate logic". Looks like Rio Tinto’s path to full ownership of ERA remains clear.

Are class actions on the rise? KWM’s Jack Power says class actions hit a low in 2024, with filings at their weakest since 2016/17—thanks to a string of wins for defendants. But HSF’s Melissa Gladstone isn’t convinced the downturn will last. She predicts a 2025 rebound, fuelled by more funding and a growing appetite for consumer, ESG, employment, and cyber claims.

WA lawyer Phillip Kelly has been found guilty of one count of unsatisfactory professional conduct and nine counts of professional misconduct. Between 2017 and 2019, Kelly missed appeal deadlines, dodged fortnightly calls from his client, and filed affidavits with false representations. A textbook case of what not to do.

Who doesn’t dream of being a jet setter? For HSF’s PE and M&A partner Malika Chandrasegaran, it’s just another day at the office. In her first year in Singapore, she closed deals across Southeast Asia, India, Japan, South Korea, and Hong Kong.

A&O Shearman—the shiny new union of Allen & Overy and Shearman & Sterling—matches Milbank’s year-end bonuses of up to US$140k (A$215k) Guess the US influence is paying off already. If you hit your new 2,000 billable hour target, here’s what the leaked bonuses look like as an A&O Shearman lawyer:

In case you missed it, we revealed Australian law firms’ graduate intake for 2024. But what about graduate base salaries? Well across the pond, the Big Law firm Cravath is paying $225,000 base to first-years. Throw in the bonuses that match A&O Shearman’s above and you have yourself a very nice Christmas break ahead. The leaked memo to all lawyers also revealed Cravath’s bonuses aren’t tied to any billable hour metric. We’ll showcase how Australian firms stack on law graduate pay next week – stay tuned. 👀

BREAKING NEWS: And this one is big – your morning brew might get even pricier as cafes and coffee roasters may have to raise their prices to tackle the coffee bean price surge. Coffee futures have reached 40-year highs off the back of draughts in Vietnam and Brazil.

Talk about cramming the night before an exam – the Albanese Labor Government is attempting to pass 36 bills on parliament’s final sitting day. At the centre of the mad dash is the Government's controversial social media ban for children and migration laws that would give the government powers to deport non-citizens. It begs the question: why are these important laws being rushed?

Sydney Uni has flipped its plagiarism policy—students can now use AI in assignments, admitting that enforcing bans is too much of a hassle. Looks like ChatGPT will be in the running for the dean’s list next year.

Uni Vice Chancellors are raking in eye-watering salaries, and people are unhappy. Constitutional lawyer George Williams says the federal government can’t step in to cap VC salaries since universities are state-run and fall under state law.

Prince Harry’s privacy lawsuit against the Daily Mail’s publisher won’t hit court until early 2026, but the legal bills are already set to soar past £38m (A$73.8m). He’s one of 7 claimants taking on newspapers over phone hacking claims from 30 years ago.

In a rare bit of good news for HECS borrowers, the HECS indexation changes are finally legislated. Millions of Aussies will see hundreds wiped off their HECS debt as new laws link indexation to either CPI or WPI—whichever figure is smaller.

AV Jennings, a household name in Australian home building since 1932, is set to go private. US real estate giant Proprium Capital Partners has launched a $374 million buyout bid, offering 67¢ per share—double AV Jennings’ market cap and a 108% premium on its three-month average price.

Ramelius’ feasibility study on its Rebecca-Roe development is due any day now. If it disappoints, don’t be surprised if Ramelius sets its sights on Spartan instead—after all, the CEO did call the Spartan project “in our backyard” last year.

After an 11-month saga, Genesis is closing in on a 50% stake in Pacific Smiles. With that milestone in sight, a board spill looks likely—AFR predicts Genesis will secure majority control of the six-person board by week’s end. Clifford Chance is backing Genesis, while Gilbert + Tobin is repping Pacific Smiles.

Pacific Equity Partners has triumphed over BGH Capital and Blackstone to become the preferred bidder for Singapore Post’s $1bn Australian assets. Represented by Clayton Utz, PEP came out on top.

AGM season keeps delivering. At WA miner Hastings’ meeting yesterday, the Chairman declared, “God has blessed us with this high-grade ore body.” Shareholders, though, might be questioning their faith—Hastings’ stock has plunged over 99% in 30 months, and the company is teetering on the edge of insolvency.

WA government is stepping in with a $150m rescue package for struggling lithium miners, offering interest-free loans to keep the sector afloat during the global downturn. Lynas is hoping for the same luck, pressuring the Albanese government to help fund a chemical plant. The problem? Lynas relies on acid from nickel smelting, but with BHP shutting its nickel ops, that cheap supply has dried up.

Australia’s super funds have smashed through the $4 trillion mark, fueled by compulsory contributions, new data reveals. Australa’s biggest fund, AustralianSuper is doubling down on global growth, hiring three senior managers to bolster its London equities team. The hiring spree includes AXA Investment Manager Steve Kelly to co-lead growth global equities alongside Any Narula.

PwC has rolled out Regulatory Pathfinder, a new tool to track a company’s regulatory obligations. It scans databases of policies, standards, procedures, and training, flagging compliance gaps—a potential game-changer for heavily regulated industries like banking.

Meanwhile, PwC Australia is cutting retirement payments for 700 former partners by 25%—roughly $35k off the average annual payout of $140k. The move comes after a partner exodus following the tax leaks scandal, leaving PwC with more retired partners (700) than active ones (650).

Instagram gives users more control with a new option to reset their algorithms. Hitting reset lets the app relearn your preferences from scratch—finally, a chance to eliminate those weirdly targeted posts you swear you never asked for.

According to this Bitcoin miner, Bitcoin could pay dividends. An Nasdaq-listed bitcoin miner is investigating whether it can distribute bitcoin to its shareholders, as a form of cryptocurrency dividend. With efficient gains in mining tech, it is possible to distribute Bitcoin back to investors while keeping profitability.

Australians are ditching new builds for renovations. KPMG reports that renos now make up 40% of total residential construction spending, up from 34.2% five years ago.