👋 G’day
Today’s brief:
Macquarie Law dean questions lawfluencers
Ashurst analyst nicks laptop and gets fired
Google unveils Gemini Enterprise for legal
Here’s your latest, PB #{{join_number}} 👇
WORD ON THE STREET

Publicity problem

Macquarie Law School dean Lise Barry is questioning the rise of "lawfluencers," pointing to Carbonne Lawyers' John Karantzis, who's been doing TV interviews as the lawyer for two women in the Swans sexual assault case. Barry warns lawyers going public risk privilege breaches, defamation and harming their own clients: AFR
Google finally rocked up to the legal AI party, launching Gemini Enterprise for Legal with Cleary Gottlieb, Freshfields, Weil and Williams & Connolly as launch clients. It plugs straight into iManage, NetDocuments, Docusign and even rivals Harvey and Legora as connectors: Point Blank
Ashurst's old IT analyst Lewis Duncan nicked a firm laptop from the Glasgow storeroom, took it home and just... kept it. Rookie mistake: security software tracked it straight back to his home Wi-Fi. Ashurst sacked him and dobbed him in to the UK's SRA: NB
Lander & Rogers just pinched Jennifer Tyler from the GC seat at Richard Crookes Constructions, landing her as a Sydney partner in Real Estate & Projects. She joins Landers' construction team, which has gone from three lawyers to nearly twenty in five years: Point Blank
PRACTICE POINTS

Appeal abandoned
⚖️ Greenwashing: ACCR has dropped its appeal against the dismissal of its greenwashing case against Santos, ending the fight by consent rather than pushing on to a second round. The original case, filed back in 2021, alleged Santos misled investors about its net zero pathway, including claims around blue hydrogen and carbon offsets. Justice Markovic had tossed the case last year, finding Santos' net zero roadmap allowed for flexibility rather than a rigid set of steps. ACCR called the discontinuance a "pragmatic decision", noting the climate disclosure landscape has shifted since 2021: ACCR
⚖️ M&A: Two recent NSW Supreme Court decisions show good faith won't bail out a sloppy M&A contract. In Lee v Kim, the Court implied a term requiring the seller to repay pre-completion debts, but got there via the BP Refinery test for implied terms, not good faith, to patch an unclear one-page agreement. In Whitehaven Coal, the Court refused to imply any good faith duty into a fully-papered scrip deal, finding sophisticated parties with top-tier advisers couldn't expect courts to rescue protections they'd left out. Neither case found the bargain rendered "nugatory" or "seriously undermined": Ashurst Perkins Coie
⚖️ Consumer: Here’s why algorithms may soon need lawyers. Dynamic pricing is everywhere, from concert tickets to rideshares. And the ACCC and the Australian Consumer Law aren't sitting idle. While surge pricing itself isn't banned, businesses risk breaching rules against misleading conduct, single total price disclosure, unconscionable conduct and unfair contract terms if algorithms hike prices without warning or lock in one-sided variation rights. The incoming unfair practices regime poses the biggest threat, specifically targeting drip pricing and manipulative digital tactics. Penalties are no joke — up to $100m per breach, or 30% of turnover during the breach period: Maddocks
TALKING POINTS

Cyber concerns

Did you hear…
OpenAI says we have a "limited window" before AI-enabled cyber attacks go mainstream, and 100+ companies, including rival Anthropic, have signed its open letter calling for action. The move comes after rogue OpenAI agents hacked into Hugging Face and Russian group Aurora used SpaceX's Cursor to hack 10 US and EU firms: Business Insider, Capital Brief
Also…
Headline inflation eased to 3.5% in July, the fourth straight monthly fall, but the trimmed mean came in hotter than expected at 3.6%, still above the RBA's target and enough to spook the banks. Goldman Sachs, CBA, ANZ and NAB are now pencilling in another rate hike: TDA, Bloomberg
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DEAL ROOM

Wellness hunt
🍽️ Canadian and Japanese investors are circling Australian wellness targets. Front of mind: My Muscle Chef, up for sale by Quadrant for $500m to $1bn on $60m EBITDA, and Nestle's The Better Health Company in NZ, both tipped to draw suitors from Canada or Japan: The Australian
🏦 Judo Bank is reportedly back in play, two years after a Bendigo Bank tie-up fell over. The $1.16bn small business lender is said to be holding informal talks with suitors, looking for an asking price of up to 1.3x book value: The Australian
🐶 L Catterton is deep in exclusive DD on Eureka Pet Co, the Byron Bay premium dog food company. It'd be the buyout firm's first Aussie pet food punt, off a rumoured $30m to $40m valuation. Gilbert + Tobin is tipped to be acting: AFR
SECTOR SNAPSHOT

Recruitment or raid?


DIGGERS
🚜 MinRes swung to a record $1.2bn profit, reversing last year's $896m loss, and reinstated its dividend after two turbulent years. Billionaire Chris Ellison pockets a $17m windfall as the miner sets its sights on copper deals abroad, echoing bigger rivals BHP and Rio Tinto's push into the metal: AFR

FIN
🏦 Barrenjoey is fighting court claims it staged a co-ordinated raid on rival Jarden, poaching 14 staff for its new NZ arm. CEO Brian Benari insists it's just recruitment, pointing to 300+ job applications within a week of planting the flag. High-profile hires include Jarden's former co-CEO Daniel Reynolds: Capital Brief

RETAIL + REAL ESTATE
🏠 Wesfarmers posted a $2.87bn net profit, with strong growth at Bunnings and Kmart offset by a rough year at Officeworks, where earnings fell 22.2% on one-off transformation costs. The fix is shifting Officeworks onto Kmart's hugely popular Anko supply chain: AFR

TECH + STARTUPS
📱 Canva's earliest staff and investors are growing restless, with a near-term IPO fading and pressure building for another secondary sale to unlock some cash. Now, Blackbird Ventures is weighing continuation funds to let investors cash out early stakes in Canva: Capital Brief, AFR
P.S.

