CJ Bell calls for radical PLT reforms

ANZ apologises for firing blunder

UK firm halts NQ salary climbs

The Federal Court has ordered Mosaic Brands, the owner of Noni B, Rivers, Katies and other labels, to pay $25m in penalties for breaches of the Australian Consumer Law. Over a six-month period, Mosaic took payment for almost 740,000 items it failed to deliver on time, with 4,213 never arriving at all. The ACCC found more than half the items were shipped 30+ days late, and one-third 40+ days late. Mosaic also misled customers by stating refunds for faulty goods had to be sought within six months, when under the ACL there is no fixed time limit. The ACCC said Mosaic had no reasonable basis for its delivery promises, with Deputy Chair Catriona Lowe warning delays of this scale can lead to penalties “of this magnitude”: ACCC

Speaking of regulatory action, greenwashing enforcement is hitting new heights. The ACCC has launched fresh Federal Court actions against Banana Boat maker Edgewell and Australian Gas Networks. Edgewell is accused of falsely marketing sunscreens as “reef friendly”, despite evidence that ingredients could harm marine life. AGN is accused of misleading consumers by claiming its gas would be renewable “within a generation” without scientific backing or disclaimers. These cases follow hefty ASIC penalties against Mercer ($11.3m) and Vanguard ($12.9m) for misstating the environmental credentials of investment products, and an $8.25m hit on Clorox over “ocean plastic” claims. Regulators warn: environmental claims must be accurate, evidence-backed and not buried in fine print: Allens

Courts are increasingly seeing claims for an account of profits as an alternative to damages, forcing defendants to disgorge wrongful gains rather than just compensate plaintiffs’ losses. Recent cases show how tricky this can be: apportioning profits when only part of a product infringes, deciding whether ancillary services count, and battling over overhead allocations. Courts have warned that overhead deductions are “notoriously difficult”, approximations may be necessary, and losses can only offset profits if directly tied to the infringement. Experts must also grapple with novel claims for future gains via ‘springboard’ effects. That means quantifying profits is no simple accounting exercise. It’s fact-heavy, legally nuanced, and needs experienced experts from the outset: FTI Consulting

Here’s something we can get all around. Chief Justice Andrew Bell has called for radical PLT reform, proposing to slash legal training from three months to three weeks. Citing $10k+ costs, unpaid work placements, and the College of Law’s $80m war chest, Bell says the current model locks out disadvantaged grads and pushes juniors into BigLaw: AFR

A Perth solicitor faces being struck off after the WA tribunal found he fabricated court appearances, filed false affidavits, and misled a client for two years over motor vehicle appeals. He failed to lodge notices on time, skipped hearings, then falsely claimed he'd attended. The tribunal found him dishonest, incompetent, and unfit to practise: Lawyers Weekly

UK law firm Addleshaw Goddard has frozen NQ salaries at £100k, choosing instead to boost a £19m bonus pool and raise pay for SAs. The move aims to tackle salary compression, where rapid NQ rises squeeze the gap with mid-level lawyers. The firm says it’s about rewarding meaningful contribution, not just tenure: Legal Cheek

HopgoodGanim Lawyers has announced 27 promotions, including Jacqi Marshall to partner in insurance. The round spans legal, support and ops teams, with 16 legal promotions across 7 practice areas, and new titles from solicitor to special counsel. It caps a year of growth, including partner hires from Corrs, HFW and Holding Redlich: Lawyers Weekly

ANZ sets a new gold standard on breaking bad news. The bank fired off an automated email telling managers their “exit date” and how to hand back laptops before they’d even been told they were out. Acting retail boss Bruce Rush called it a mistake and apologised, while the FSU said staff deserved better than a “botched email”: SMH

Wellness beats coffee. New ABS data shows Aussies spent $36bn more on health and wellness than cafes in just six years. Pharmacy sales jumped 57%, outpacing liquor, cafes and even recreational goods. From yoga rooms to the supplements boom, the wellness economy isn’t a fad, it’s reshaping retail: The Australian

Should we all pool our funds? Australia’s ultra-luxury property market is smashing records, with agents confirming offers well above the current $141.5m Sydney penthouse mark. Think Point Piper mansions, Toorak estates and Brighton beachfronts. All now circling the once unthinkable $200m tag. Scarcity, expat demand and intergenerational wealth are fuelling the trophy-home arms race: The Australian

Chemist Warehouse: co-founder Jack Gance has sold $480m of Sigma stock, offloading 155.1m shares at $3.10 via Macquarie. The sale comes as 558m shares were released from escrow this week, freeing up founder family stakes after last year’s reverse takeover. Sigma now sits at a $32.5bn market cap, with Gance and partner Mario Verrocchi still major holders: The Australian

FlyOne: the Perth-based air taxi hopeful, has kicked off a $3m pre-IPO raise at a $60–80m valuation, eyeing an ASX float in April. Founded by ex-model Korum Ellis, the biz makes ~$1m from Rotto tourist hops and pilot training, but wants IPO funds to build electric aircraft: AFR

NIB: is pushing ahead with the sale of its travel insurance arm, tipped to fetch ~$200m, after Zurich bowed out of the race. Zurich, which owns rival Cover-More, was seen as a frontrunner, but potential competition issues loomed. That leaves players like Allianz and Hollard circling the unit, which owns World Nomads and Travel Insurance Direct and holds 8.4% market share: The Australian

MinRes has fessed up to a $30m loan it quietly handed to Global Advanced Metals in 2019, while then-chair James McClements sat on both sides of the deal. The loan, now extended to 2027 with $24.2m still owing, never appeared in prior disclosures. With MinRes sitting on $5.3bn in debt, shareholders aren’t thrilled by the conflict optics: AFR

Bowen Coking Coal has slid into receivership, with FTI Consulting shopping its assets to bidders by Oct 2. On the block: the $500m Burton complex, Bluff mine, and early-stage Bowen Basin projects. With $400m in tax losses and steelmakers chasing Burton’s coal, buyers get upside, but also inherit its royalties, cost blowouts and debt scars: AFR

ASX has made only “limited progress” fixing risk and governance issues, says the RBA’s payments board. The watchdog flagged the 2024 CHESS outage as proof urgent reforms are needed, with “significant concerns” still hanging over the CHESS replacement program: Capital Brief

AMP and Insignia will cop another ‘fail’ from APRA’s super performance test, marking their third straight year of dud results. AMP’s four failed products (down from 36 last year) and Insignia’s single repeat offender will now trigger letters urging members to consider switching. Both funds are slamming the test as “flawed”: The Australian

Frasé Skin, the men’s skincare start-up from tradie brothers Beau and Zach London, is raising $3m–$5m at a $10m–$12m valuation to fund global expansion. Backed by ex-JBWere exec Mathew Collett, the brand does $200k+ in monthly sales, is in talks with Coles and Priceline, and will launch in the US next year via Tri-Point Brands: AFR

TrustCapital Advisors is circling Monash College’s Docklands campus in a deal tipped at $390m, as it builds out its Aussie education play. The site, quietly offered by GPT’s Wholesale Office Fund, was converted into a 10-level teaching hub in 2021: The Australian

OpenAI is setting up shop in Sydney, its first Aussie office, after striking a partnership with CBA and seeing local ChatGPT use surge 2.5x in a year. Backed by Microsoft and eyeing a $772bn valuation, the AI giant is starting small, with plans to hire about 10 staff by year-end: AFR

TPG Telecom says its $1.6bn network pact with Optus has delivered 100k new customers since January, making it the only major telco to post flagship brand growth in the half. Revenue rose 2.2% to $2.06bn, net profit hit $32m, and EBITDA $813m. With Vision Network sold for $4.7bn, TPG is now mobile-led and cashing up: The Australian