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👋 G’day

Today’s brief:

  • Lawfluencer blasts FT's influencer piece

  • Lawyers' AI adoption jumps to 94%

  • Albo reveals new algorithm rules

Here’s your latest, PB #{{join_number}} 👇

WORD ON THE STREET

Lawfluencer backlash

An Ex-Freshfields and Jones Day lawyer turned "lawfluencer" has slammed the Financial Times over its "office influencer" piece, calling it "dripping in misogyny." The article branded women like her "forever single working mannequins," and she reckons it's the same old trope: successful women can't have it all: Legal Cheek, FT

  • AI is officially mainstream in law. Lawyers' AI adoption has jumped to 94%, up from just 41% two years ago, according to LexisNexis's latest survey of UK lawyers. Legal research remains the top use case at 69%. But trust hasn't kept pace: 83% worry about hallucinations, up from 57% in 2024: Point Blank

  • NSW's silk selection process has copped it lately, and barrister Nigel Cotman is sharing his two cents too. He points to Mary Walker, a mediation expert, who has been knocked back for over a decade. He says the clubby process is too focused on adversarial litigation: AFR

  • New emails show NSW DPP Sally Dowling's October 2024 meeting, which she called "a regular media meeting," actually had one agenda item: questions from The Australian about a judge's complaint against her. Details of that complaint leaked to 2GB days later, yet Dowling denies authorising it: The Australian

PRACTICE POINTS

Non-compete ban

⚖️ Employment: The Federal government has released draft legislation banning non-compete clauses for employees earning under the high income threshold, and banning co-worker non-solicitation clauses for all employees regardless of pay. Just having one of these clauses in a contract, even unenforced, will breach the ban and can trigger significant penalties. The Bill also writes common law restraint principles into the Fair Work Act, makes cascading restraint clauses entirely unenforceable, and expands Australia's cartel regime to catch no-poach and wage-fixing deals between businesses. If passed, the changes would start in 2027. Consultation closes 2 October 2026: Mallesons

⚖️ Regulatory: The Federal Court has ordered CashnGo to pay a $3.5m penalty after admitting its small amount credit contracts contained unfair terms. Following a missed repayment, one clause let CashnGo's algorithm monitor a borrower's bank account hourly and repeatedly attempt withdrawals the moment funds appeared, with no notice of timing, frequency or amount, sometimes leaving consumers with less than $5. Jackman J declared the terms void, ordered replacement terms letting consumers opt out of these unscheduled withdrawals. The contraventions were traced to senior management, who knew of consumer complaints but kept the system running: Federal Court of Australia, G+T

⚖️ M&A: The market is tilting back towards completion accounts over locked box pricing in share sale agreements, but for structural reasons rather than the usual buyer/seller cycle. Since the ACCC's mandatory merger regime began on 1 January 2026, longer waits for clearance mean more leakage exposure and staler reference accounts, making locked boxes riskier for buyers. Higher interest rates have also turned the locked box ticking fee into a genuinely negotiated cost. Meanwhile, cheaper W&I premiums (down to 0.88% in 2025) have softened buyers' traditional resistance to fixed pricing altogether: McInnes Wilson

TALKING POINTS

Albo vs algorithms

Did you hear…

Labor's latest social media crackdown, "My Feed, My Way", would force platforms to regularly ask users if they actually want algorithm-picked content, with extra limits on what kids can see. Breaches cop fines up to $109.2m. Albo says he's not fussed about upsetting Trump over it: Prime Minister, Capital Brief, AFR

Also…

Gig economy dismissal claims went from basically zero to 569 in a year, and FWC boss Justice Adam Hatcher blames AI. Uber drivers are flooding the commission with AI-written appeals — one is even dragged his rejected claim to the Federal Court: AFR

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DEAL ROOM

Tim Tam takeover

🍪 KKR is gearing up to sell Tim Tam maker Arnott's after six years of ownership, with an adviser appointment tipped within weeks. The biscuit maker could fetch north of $3bn, with Mondelez the most talked-about strategic suitor: The Australian

🤝 Rio Tinto has agreed to buy the Aurukun bauxite project from Glencore and Mitsubishi Development for an undisclosed price. The mining lease for the project is yet to be granted, so regulatory sign-off from Queensland is next: Bloomberg

📢 Firmus co-founders Oliver Curtis and Tim Rosenfield are back on the roadshow this week, pitching a very different business to IPO investors. The original all-Australia "Project Southgate" plan has given way to an OpenAI anchor deal and new builds in Malaysia instead: Capital Brief

SECTOR SNAPSHOT

Bankers booted

DIGGERS

🚜 Santos boss Kevin Gallagher wants "essential tweaks" to Labor's gas reservation scheme, pushing for gas to be offered on commercial terms over the "must sell" rules. It comes as east-coast gas demand falls for a third straight year, down 6%, complicating the case for reserving 20% of LNG output to Aussie customers: AFR, The Australian

FIN

🏦 NAB has restructured its corporate and institutional bank, changing or cutting 68 roles with about 8 people leaving for good. It's the biggest shake-up at the bank in years. Group exec Cathryn Carver merged sales and origination into one simpler team, and several senior bankers are now out of a job: AFR

RETAIL + REAL ESTATE

🏠 Bathla Group, the insolvent Sydney developer, has secured $4bm emergency funding to stay afloat for two more weeks while it works through A$3.4bn owed to creditors. The stopgap keeps construction going on projects tied to participating lenders, but 213 staff are stood down elsewhere. ASIC is now investigating where creditors' funds actually went: Bloomberg

TECH + STARTUPS

📱 Canva now faces a rival from Google, which just launched Pics, an AI image tool built into Docs, Slides and Drive. It lands weeks after Canva's valuation dropped US$7.1bn, and comes on top of Anthropic's Claude Design and OpenAI's GPT-6 Astra all chasing the same prompt-based design turf: AFR

P.S.

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