NSW blocks big four from policy

London firm makes meditation as billable

Directors are now exposed for trust breaches

The NSW Labor government has banned consultants from doing core policy, legislative or regulatory work, mandating that “experienced public servants” take the lead. The new rules mirror federal restrictions and follow revelations that NSW spent $1.7bn on contractors last year alone. The big four earned $240m over 5 years, with PwC, EY and KPMG topping the list: AFR

Imagine mindfulness going toward your billable target. McDermott’s London office offers just that - giving associates billable credit for mindfulness hours, whether that’s meditating, exercise, or just a walk. London boss Aymen Mahmoud says culture is key to talent retention, especially post the firm’s $2.8bn Schulte Roth & Zabel merger: NB

A new report shows 62% of senior judges in the UK went to private schools, despite just 7% of Brits doing so. And 75% are Oxbridge grads, making the bench the most Oxbridge-heavy profession in the UK. After years of diversity drives, little has shifted at the top: Legal Cheek

Lander & Rogers has snapped up Margaret Gigliotti as a partner in its corporate team. The ex-Clayton Utz special counsel, with stints at Minters and Allens, is a tech, data and IP pro who’s done the rounds on privacy, cyber and complex IT deals. Her move boosts Landers’ push into transformational tech projects: Lander & Rogers

In Cropper v Energy Action (Australia), the Federal Court has found a long-term IT “contractor” was in fact a permanent employee, awarding him accrued leave and three months’ reasonable notice after 14 years’ service. Although he started as a contractor, from 2006, he was on payroll, had tax and super deducted, took leave, carried company business cards and worked exclusively for the company. The Court said those factors made it “as good as impossible” to treat him as a contractor. The case is a reminder that worker classification must reflect reality, and contracts should contain clear notice provisions. Otherwise, courts will imply “reasonable notice”, which may be far longer than the statutory minimum: Hall & Wilcox

The Full Federal Court has confirmed that a director of a trustee company can be personally liable if they intentionally cause the trustee to act in breach of trust and know facts that would signal a breach to a reasonable person. The Court rejected arguments that directors should be treated differently from other agents, clarifying there’s no shield for directors when inducing or assisting a trustee’s breach of trust. The ruling means directors can be exposed in equity for knowingly procuring, inducing, or assisting dishonest breaches, even when acting in their corporate capacity.

The ACCC has updated its merger reform FAQs, clarifying how it handles s 189 letters, notifications and informal reviews. The updates confirm the ACCC can issue s 189 letters covering acquisitions of land interests and in competing bid scenarios. For dealmakers, it’s a reminder that the regulator is widening its oversight tools ahead of the formal reforms, so early engagement remains key.

ABC has suspended Jimmy Kimmel Live indefinitely after he slammed “the MAGA gang” for spinning the Charlie Kirk assassination, and mocked Trump’s reaction, saying it was how a “4-year-old mourns a goldfish.” Trump cheered it as “great news,” urging NBC to axe Fallon and Meyers next: TDA

Pauline Hanson is appealing a Federal Court ruling that she racially vilified Faruqi with her “piss off back to Pakistan” tweet. Hanson argues the Racial Discrimination Act unconstitutionally restricts political speech, putting its controversial 18C provision back in the spotlight. Critics say her broad appeal is a bid to strip back protections against racial vilification, with the AG and Human Rights Commission now involved: The Australian

From December 10, under-16s will be banned from holding accounts on TikTok, Snapchat, Instagram, YouTube, Facebook, and X. Platforms won’t have to age-test every user or hit accuracy targets, but must show they’ve taken “reasonable steps” or face fines of up to $49.5m. Minister Anika Wells says tech giants have had 12 months’ notice and have “no excuse not to be ready.” ABC News

Macquarie: quietly held merger talks with Carlyle over the northern summer, a deal that would’ve created a $1tn investment giant. The talks fizzled as Carlyle backed CEO Harvey Schwartz’s turnaround plan, with its shares up 60% in a year. For Macquarie, shifting capital from public to private markets may be the “next big thing”: AFR

REX: may finally have a buyer, with US-listed Air T tabling an offer backed by Alvarez & Marsal. Administrators EY, who’ve pocketed $10m in fees since Rex’s collapse, have been hunting for a deal. The bid, now before Canberra and even PM Albo, could be signed as early as Monday: AFR

Atlassian: has made its biggest buy yet, snapping up US-based developer productivity platform DX for US$1bn in cash and stock. DX, used by 350+ enterprises, measures the productivity and satisfaction of software engineers. The deal follows its early-September purchase of The Browser Company: Tech Crunch

Anglo American will axe 200+ jobs, a day after BHP cut 750 roles. Miners blame weak prices and Qld’s 40% coal royalties, while unions accuse them of “playing politics” after pocketing windfalls in 2022. The QRC warns Queensland’s global investment reputation is now at risk: MiningWeekly

Mineral Resources has kept a lid on the most explosive documents detailing alleged misconduct by Chris Ellison, after the WA Federal Court upheld suppression orders despite Nine’s challenge. Some files will be redacted and released: AFR

CBA’s x15ventures has teamed up with Triple Bubble in a strategic partnership involving investment, talent swaps and joint venture hunting. Founded in 2020, x15 is CBA’s venture-scaling arm, aiming to marry startup agility with bank scale. Boss Toby Norton-Smith says the tie-up sharpens x15’s role as a bridge between corporates and fintechs: Capital Brief

Matt Leibowitz has returned as CEO of Stake, the online broker he co-founded in 2017, less than two years after stepping down. He replaces Jon Howie, who exits after 18 months. With 750k users and rivals like CommSec and Superhero gaining market share, Leibowitz says he’s ready to “take Stake to the next level”: Capital Brief

Kmart has been pinged by the privacy watchdog for secretly unlawfully using facial recognition at 28 stores between 2020–22, capturing every shopper’s face to fight refund fraud. Commissioner Carly Kind found the system was of “limited utility” and a disproportionate privacy intrusion. It’s Wesfarmers’ second strike, after Bunnings copped a similar ruling: AFR

Ping An Real Estate is selling its 50% stake in Sydney’s Salesforce Tower for $900m+, with JLL and Colliers running the process. Global funds are tipped to chase the trophy asset, lured by tight Sydney CBD supply and rising prime rents. The sale follows a string of big office trades as institutional money swings back into premium towers: The Australian

Employment Hero has accused Seek of trying to kill its business by cutting API access, claiming the move stifles competition. The HR tech firm, valued at $2bn, says Seek’s defence is “vague and embarrassing” and that losing access will cripple growth. Federal Court hearing set for Sept 2026, with both sides trading blows over data use and disparaging remarks: AFR

Jim Chalmers will meet OpenAI strategy chief Jason Kwon in Sydney to pitch Australia as a site for major AI data centres, after the $300bn startup unveiled its “Stargate UK” expansion. Canberra’s selling Australia’s land and renewables as an AI hub, with OpenAI already eyeing “strategic investments” Down Under: Capital Brief