Companies

Social media giant Facebook has come out swinging over the Morrison government’s proposed news media bargaining code, threatening to stop Australians from sharing local and international news on Facebook and Instagram if the code becomes law.

Financial services giant IOOF Holdings will be on the hook for any judgments or settlements reached in two class actions and an ASIC lawsuit as part of its $1.4 billion acquisition of NAB wealth management unit MLC.

A lawyer acting for former AMP employee Julia Szlakowski has accused the company of a lack of transparency and has released the findings of the London barrister hired to investigate her sexual harassment allegations against senior executive Boe Pahari, which confirm Szlakowski’s version of events but conclude only some allegations constituted harassment.

Maurice Blackburn is abandoning its class action against Westpac over the bank's alleged responsible lending law breaches, weeks after ASIC lost its appeal in the so-called wagyu and shiraz case and conceded defeat.

The Federal Court's top judge has refused a bid by the lead applicant in a class action against Crown Resorts to have the case declared a priority matter to allow Melbourne-based lawyers access to childcare while they prepare for a six-week trial.

The Australian Securities and Investment Commission will not take action against the Commonwealth Bank of Australia or any of its directors of officers in relation to AUSTRAC proceedings the bank agreed to settle for $700 million in 2018.

The Commonwealth Bank of Australia has denied that it received any benefits through the sale of its Essential Super product, rejecting claims by Australian Securities and Investments Commission that it breached the conflicted remuneration provisions of the Corporations Act.

Woolworths has agreed to fast-track retail employee pay increases after a union hit the supermarket giant with a lawsuit this week.

Insurer QBE wants to downsize a massive class action brought against it and banking giant ANZ over the sale of allegedly worthless add on insurance.

A judge has signed off on a settlement that releases ANZ from two class actions by 7-Eleven franchisees that alleged the bank engaged in unconscionable conduct and breached responsible lending laws by providing loans to purchase outlets of the convenience store giant.