AI rivals battle for legal dominance

ANZ hit with largest-ever penalty

Freshfields cuts paralegals

Fake it till you’re disbarred? UK silk Anurag Mohindru KC has been disbarred after falsely claiming he studied medicine at Oxford to boost his tenancy prospects back in 2013. The panel said he “knowingly misled” chambers and dismissed his claim the CV had been tampered with. One mitigation attempt? That the lie wasn’t about legal work. The panel didn’t buy it: Australasian Lawyer

Two rivals are dominating the AI-for-lawyer arms race: Harvey (US, $5bn+) and Legora (Sweden, $700m). Harvey’s gone global with 300+ firms like Ashurst, KWM and A&O Shearman, while Legora’s locked in Dentons, Deloitte and Bird & Bird across Europe. Both promise to replace precedents with AI workflows. Read more here: Point Blank

It’s happening. Law firms are starting to axe jobs because of tech. Freshfields is cutting around half its junior paralegals in Manchester, with up to 20 roles on the chopping block. The firm says it’s “evolving” to meet client needs and investing in technology (aka AI and automation are winning): RollOnFriday

The Federal Court refused to stop Corrs Chambers Westgarth from acting for Boeing Aerostructures in an adverse action case. A former employee said Corrs had a conflict because it helped draft Boeing’s enterprise agreement (EA), now central to the dispute. But the Court found no real prospect that Corrs’ past advice, or the conduct of its lawyers, was in issue. The dispute turns on the EA’s coverage clause and the applicant’s duties, not on evidence of the solicitors. With the Corrs lawyers who negotiated the EA long gone, the Court said there was no sensible possibility of conflict: Australasian Lawyer

How many days off work is too many? 92 it seems. The Fair Work Commission has upheld the dismissal of a 20-year Woolworths warehouse employee who racked up 92 days’ absence in 12 months. The employee also repeatedly ignored notification and medical certificate requirements. Despite past leniency, Woolworths gave clear warnings, requested a medical assessment, and offered support before terminating employment. The case confirms that excessive absences can justify dismissal and that past tolerance doesn’t prevent an employer from later enforcing stricter standards if done fairly and with warnings: Hopgood Ganim

The Federal Court sentenced Duncan Stewart to a 18 months’ suspended sentence for insider trading over the 2019 Kidman Resources takeover by Wesfarmers. Stewart bought $130k in shares knowing of the deal, selling for a $65k profit once it was announced. He also tipped off a family member about a second, confidential bid. The suspended sentence means Stewart won’t have to serve any jail time provided he shows good behaviour. But he is disqualified from managing corporations for 5 years. The Court stressed insider trading “shatters” market confidence. ASIC has made tougher insider trading enforcement a 2025 priority: ASIC

A new National Climate Risk Assessment warns that even a modest 1.5-degree rise will see disaster costs hit $40.3bn a year by 2050 from floods, bushfires, storm surges and cyclones. The data shows: more drought hitting crops and cattle, rising seas putting 1.5m coastal residents at risk, more megafires. All eyes now on Labor’s 2035 climate target: AFR

Research shows many execs hit a wall around their 5-year job anniversary, slipping into “day prison” - unmotivated, undervalued and stuck. Triggers include lack of recognition, growth or meaning in work. The fix? Rotate roles earlier. One global consultancy solved turnover by posting all internal jobs so staff could move around, keeping talent engaged: Harvard Business Review

After all that talk about the social media age ban, platforms won’t even need to age-test every user or meet any minimum effectiveness standard. They just have to show “reasonable steps”. The government says it’s about balancing privacy with safety, but admits some underage accounts will slip through… ABC News

Canva: has ruled out an Aussie float, with co-founder Cliff Obrecht saying a dual listing on Nasdaq and the ASX would be “double the work” for the same returns. The $65bn design giant, now Delaware-domiciled but Sydney-based, will wait until at least next year for its Nasdaq IPO, betting US markets offer richer multiples for tech: AFR

Paladin Energy: is chasing $300m via Macquarie, with shares placed at a discount to the $7.88 close. The $3bn uranium player is shoring up cash after weather delays hit its Namibian Langer Heinrich mine. It follows last year’s $C840m Fission Uranium buy, as uranium bets ride the “nuclear renaissance”: AFR

La Trobe Financial: is now a two-horse race after Bain Capital quit the $3bn auction, leaving Warburg Pincus and CVC to duke it out ahead of the Oct 17 deadline. Draft contracts are already in play. Insiders tip a price closer to $2.3–2.6bn than Brookfield’s $3bn hopes: The Australian

BHP races in Argentina, stalls at home. BHP will fast-track studies on its Vicuna copper province in Argentina to secure tax breaks under President Milei’s RIGI scheme. Meanwhile, expansion of Olympic Dam in SA is delayed to 2028, with BHP warning Australia’s high power costs and policy uncertainty make local projects less competitive: AFR

Gold Road Resources cut production guidance after crusher maintenance, conveyor failures and weaker ore at its Gruyere mine. Costs will rise to $2,600–$2,800/oz (up from $2,400–$2,600). The miner admitted its production ramp-up is progressing “more slowly than anticipated”: Capital Brief

ANZ is in the trenches. The bank was slapped with record $240m fine. ASIC hit the bank with Australia’s biggest penalty for a single entity, covering unconscionable conduct in a $14bn bond deal, mishandled hardship cases, and fees to dead customers. And to make matters worse, the Finance Services Union is now lodging a Fair Work claim on ANZ’s move to axe 4500 jobs: Capital Brief

ASX boss Helen Lofthouse is facing Federal Court claims she bullied former trading tech head Jamie Halstead, who alleges he repeatedly warned the exchange was breaching its market obligations. Halstead’s statement of claim points to ignored warnings on CHESS testing, outages and resourcing. ASX says the case is “without merit”: The Australian

Sydney Airport has unveiled its 2045 master plan, betting it can outpace Western Sydney International with a 75% jump in passengers. The plan merges T2 and T3 into an international hub, adds up to 14 new gates, and introduces driverless buses between terminals. By 2045, the airport expects to pump $70bn annually into the economy: AFR

Flybuys, Coles and Wesfarmers’ loyalty scheme has hit 10 million members and slashed losses to $10m, down from $36m last year. Coles shoppers redeemed $413m worth of points in 2025, more than triple 2020 levels, as families use Flybuys to cut grocery bills: The Australian

Musk wants more control of Tesla. Elon Musk bought 2.57m Tesla shares worth nearly US$1bn, lifting his stake to 13.6% as he pushes for 25% control. The move comes ahead of a November shareholder vote on a US$1tn pay package that could boost his voting rights to nearly 30%: Business Insider

Alphabet has joined Apple, Microsoft and Nvidia in the US$3tn market cap club after a favourable antitrust ruling sent shares soaring. The DOJ had pushed to break up Google, even floating a Chrome divestment, but Judge Amit Mehta imposed lighter penalties. Alphabet shares are up 30% this year: CNBC