Ever wondered which firms have the best odds of you making partner? Wotton Kearney's a smaller shop at 89 partners, but it promoted 9 this year — that’s just over 10% of the partnership. Allens isn't far behind at 9.47%, with 16 promotions, the biggest round on the list. On 12-month partnership growth, Wotton Kearney tops that too at +18.7%. Meanwhile, Mallesons and MinterEllison are the only top-tier partnerships shrinking. See the full breakdown here: Point Blank

⚖️ Corporate: The Federal Court has ordered ASX Limited to pay a $20.5m penalty. It admitted its February 2022 claim that the CHESS replacement project was "progressing well" was misleading, just six weeks before revealing likely delays. Justice Markovic was blunt: as a gatekeeper for market integrity, ASX should have been setting the benchmark for accurate disclosure, not falling short of it. Her Honour also stressed the deterrent value of the penalty for other listed entities tempted to gloss over project risks. ASIC Chair Sarah Court noted the stakes are even higher for operators of critical infrastructure. ASX must also cough up $3m toward ASIC's costs: ASIC

⚖️ WHS: The District Court of NSW has found two operating companies and their officer, Mr Mytkowski, guilty over a falling steel gate that seriously injured a worker at a Seven Hills site. After a truck damaged the gate's motor in 2020, workers manually operated it for nearly two years with no repairs, risk assessment or safe work procedure in place. The Court held that directors must actively verify that hazards are assessed, and ensure that plant and equipment are safe, not just assume compliance. Mr Mytkowski fell short on every count, including never chasing an updated manual or expert advice after the collision: HWLE

⚖️ Consumer: From 1 July 2027, businesses face a broad new ban on unfair trading practices under the Competition and Consumer Act. It targets conduct that manipulates consumers or unreasonably distorts their decisions — think fake countdown timers, pre-ticked boxes, confusing menus or confirm-shaming. No intent to deceive is needed, and there's no statutory defence. The reforms also crack down on drip pricing (charges must be shown upfront) and subscription traps (cancellation must be easy and available online where sign up is). Penalties are no joke: the greater of $100m, three times the benefit, or 30% of turnover: Ashurst Perkins Coie

It's a big week in our Clerkship Applications Update from Clayton Utz. Law students in Sydney and Canberra need to move fast, as the application deadline is fast approaching this Sunday.

In Melbourne, applications open today and will stay open for almost five weeks until 9 August. The application window in Perth remains open for another three weeks.

As a Top 5 Graduate Employer in Law, Clayton Utz is one of the best places to start your legal career. Find out more about their seasonal clerkships and send this link to a law student applying this year.

Apply today: https://bit.ly/4uEhmDP

Australia just scored the equal-highest core inflation among major developed economies, second only to Iceland. KPMG's chief economist Brendan Rynne says the RBA's rate cuts last year were a blunder, and now wants the cash rate pushed to 4.6%. Jim Chalmers blames the Middle East war. Other economists say it's homegrown, fuelled by a government hiring and spending spree: AFR

Job ads have now turned into a wall of text. The average listing has grown 7.4% longer since ChatGPT landed, with the number of sections in a listing up 14% and skills sections up 16%. Managers are dumping "kitchen sink" wish lists (anyone want 27 responsibilities?) instead of editing themselves: Business Insider

⛏️ Vault Minerals has landed a binding $5.6bn takeover bid from Genesis Minerals, with the board declaring it superior to its existing Regis Resources tie-up. The offer carries a 14.5% premium to the Regis deal and no financing or due diligence conditions. Regis now has until 10 July to match. Genesis is repped by G+T, while Corrs advises Vault and Mallesons advises Regis: Genesis

📢 OOh!media's $750m auction is hitting crunch time, with UBS and Mallesons ordering Pacific Equity Partners, I Squared Capital and Oaktree to confirm their pricing by 10 July after wrapping phase-one due diligence: AFR