The ACCC went after Coles on fake discounts, and won. Justice O'Bryan found 13 of 14 "Down Down" products carried misleading discounts, with prices hiked for 28 days before being "cut" back to near their original level. The magic number? O’Bryan J says hold prices 12 weeks before discounting, or it’s misleading. Johnson Winter Slattery acted for the ACCC; Allens ran Coles' defence. Read our deep dive on the decision here: Point Blank

⚖️ Native Title: The Federal Court has handed down a landmark native title compensation decision in Yindjibarndi v State of WA. The Court awarded $150m for cultural loss against FMG for the grant of mining tenements over 563 square kilometres. The figure reflects the destruction of 124 heritage sites, damage to songlines, dewatering impacts and physical disturbance across the determination area. It's the third in a developing line after Griffiths and McArthur River, and the first dealing with compensation for future acts under the Native Title Act. The Court also awarded compound interest, a significant departure from Griffiths. Appeals are expected: G+T

⚖️ Corporate: ASX has weighed in on sustainability report timing in its recent ASX Supervision Update. The guidance confirms it won't object if listed entities release their corporate governance statement and Appendix 4G earlier than Listing Rule 4.7.4 strictly requires — ie, when lodging their sustainability report and audited financials, but before the 'glossy' annual report drops. Given there's often overlapping content between the two documents, releasing them together makes sense. The conditions: the statement must clearly identify the relevant reporting period and be accompanied by a complete Appendix 4G. Once lodged with the financials, no need to re-lodge with the annual report: ASX

⚖️ Regulatory: ASIC was already pursuing Hudson Global Resources for non-lodgement of financial accounts for FY2022, FY2023 and FY2024 before the public sector recruiter collapsed into voluntary administration on 22 April. The proceedings were live before the court when the administrators were appointed. The case is the latest scalp in ASIC’s active lodgement crackdown, which has recently stung Canva ($792k) and three Mecca entities ($594k combined) for late or non-lodgement. Large proprietary companies, get your accounts in: AFR, ASIC

New Zealand's government is changing the law to kill off private legal action against big greenhouse emitters. The move will wipe out current and future cases including those headed to the High Court against Fonterra, Genesis Energy and Z Energy. The government says courts aren't the right forum for climate harm claims. Greenpeace calls it a "shocking abuse of executive power": Bloomberg

Chalmers is consulting on softening the CGT blow after the startup sector erupted over plans to axe the 50% discount and replace it with a 30% floor. The biggest grievance is that venture funds investing through ESVCL partnerships still pay zero CGT, while founders and early employees cop the full hit. Atlassian's Scott Farquhar is pushing for a full carve-out. Others want a UK-style zero rate on founder equity gains up to $20m: AFR, Capital Brief

💰 Blackstone Digital Infrastructure Trust has raised US$1.75bn in a US IPO. The vehicle will target newly built data centres valued at US$250m to US$1.5bn. It's the largest-ever "blind pool" REIT IPO, so called because the company hasn't yet acquired a single asset: Bloomberg

⚡️ Sembcorp's $6.5bn acquisition of Alinta Energy has cleared the ACCC, albeit after a false start when Ashurst's merger notification docs were rejected as "materially misleading" and "incomplete." Now, all eyes are on FIRB approval: AFR

💵 Plus Es, Ausgrid's smart metering business and the country's largest player, has drawn first-round bids in a $3bn auction run by RBC Capital Markets. At least six parties were in the data room, with KKR emerging as the frontrunner: AFR