🗞️ Salary transparency

Good morning. Since late 2022, your employer can no longer stop you discussing your pay. But most people still have no idea what the person next to them earns. We're trying to fix that.

This is our biggest Aussie Corporate survey yet and the more people who contribute, the harder it gets for anyone to be underpaid without knowing it. Anonymous, takes 2 minutes, and the results go straight back to the community.

All the headlines and more below...

CBA LAUNCHES AI ASSISTANT AS OPENAI MOVES INTO BANKING

Commonwealth Bank has launched Companion, an AI assistant that calculates loan affordability and manages finances. It's a defensive play. OpenAI's ChatGPT and Perplexity already let US users connect bank accounts and ask financial questions.

The platforms offer "read only" access now, they interpret finances but can't move money. OpenAI is working with Intuit to let users submit credit card applications through ChatGPT. Australia's open banking regime could unlock similar "write" access, letting AI agents act on a customer's behalf.

Spain's BBVA struck a deal with OpenAI to let customers access banking data through ChatGPT. CBA's Angus Sullivan calls the shift "massively intense" competition but ruled out opening CBA's system to third parties, citing regulations that stop AI from giving personal financial advice.

The real risk is that AI agents could automate savings optimisation, shifting deposits to whoever offers the highest rate. One banker flagged the liquidity risk if customers tell an agent to "maximise my savings return" and money moves between banks in real time.

AUSTRALIAN NEWS

• Australia's housing market has stalled as national home values were flat in May, with Sydney down 0.9%, Melbourne down 0.8% and Canberra down 0.2% amid multiple headwinds. LINK

• Australia is facing its biggest housing correction in 40 years as Melbourne’s tax-driven 20% to 30% slump in $1.5M to $10M dwellings threatens negative equity and state revenues. LINK

• Australian farmers have sharply reduced wheat plantings, with the harvest forecast to drop almost 50% as the Iran war drives US$120 oil, higher fertiliser costs and disruption to imports. LINK

• The Fair Work Commission has reported that 2025-26 claims have already matched last year’s 44,000 record as unfair and unlawful dismissal applications surge and burden employers. LINK

GOOGLE EXEC WARNS AUSTRALIA'S AI INVESTMENT WINDOW IS CLOSING FAST

Google's global data centre chief says Australia's chance to lock in major AI investment "will not stay open forever", as the tech giant weighs whether to direct more of its $265B annual spend here.

Bikash Koley, who oversees Google's worldwide data centre rollout, recently announced a $21B AI plan for India. Australia wants similar commitments but regulatory uncertainty around approvals and copyright law has slowed momentum. AI companies are pushing for a text and data mining exemption to train models locally. Attorney-General Michelle Rowland has ruled it out.

Google's first Australian renewable energy project, a 25-megawatt solar farm in Mulwala, NSW, is about to connect to the grid. The federal government now expects new data centre projects to add renewable generation to cover some or all of their own usage. Microsoft and Amazon have backed dozens of similar renewable deals. Google is catching up.

COMPANY NEWS

• Lendlease is preparing to end its 68-year audit relationship with KPMG after learning a KPMG auditor illicitly accessed its board documents, following FY26 reporting, for which KPMG earned over $10M. LINK

• Officeworks plans to replace its Sydney customer service centre with a call centre in the Philippines and move hundreds of office roles to India, as employees accuse it of seeking cheaper labour. LINK

• White Fox has revealed in its first filed FY22 accounts a $35M pre-tax profit on $121M revenue, with founders Daniel and Georgia Contos taking $10.5M in dividends. LINK

• The NSW Independent Casino Commission has fined Star Entertainment's Sydney casino $10M and ordered an additional $5M enforceable undertaking after thousands of breaches between December 2018 and September 2025. LINK

• Dexus suffered a major setback to its infrastructure ambitions after an NSW Supreme Court ruling validated a default notice that could force it to sell its $4B-$4.5B APAC stake. LINK

• Foxtel has proposed buying all NRL free-to-air and streaming rights to protect its 30-year partnership as Nine Entertainment simultaneously seeks full control to bolster Stan. LINK

• Australia Post appointed Accenture to consolidate its media business and support a shift towards AI-driven, in-house media capabilities as it repositions as a logistics-focused competitor. LINK

• Shein and Kmart have rejected Sabo Skirt’s copying allegations in a federal court intellectual property dispute involving 19 businesses and 36 garments, as Sabo Skirt dropped 7 claims. LINK

• Macquarie Bank has discussed forming a powerful home loan alliance with Wizard founder Mark Bouris to disrupt the then US$1.1T Australian mortgage market in 2012. LINK

• Virgin Australia has given customers with COVID-era flight credits 1 more month to use them as the airline sets a final expiry deadline for unclaimed vouchers. LINK

• Nvidia unveiled a new PC superchip that it claims is the most efficient ever, partnering with Dell, Asus, HP, Lenovo, Microsoft, Acer and MSI. LINK

One brand built 30+ landing pages through Viktor without a single developer.

Each page mapped to a specific ad group. All deployed within hours. Viktor wrote the code and shipped every one from a Slack message.

That same team has Viktor monitoring ad accounts across the portfolio and posting performance briefs before the day starts. One colleague. Always on. Across every account.

5,700+ teams. 3,000+ integrations.

Start free. $100 in credits →

CHART OF THE DAY

Who needs tax advice?

ONE MORE SCROLL

Editor’s Pick: If you answer the phone with this word, Gen-Z think you are old.

Draft Pick: Australia wins women's and men's rugby sevens final at World Championship leg in Spain.

Doctor’s Pick: Is hyaluronic acid all hype? We look at the science.

BRAINTEASER

What 5 letter English word becomes shorter when you add 2 letters to it?

Answer below

OUR SOCIALS

ANSWER

Short —> Shorter

Was this email forwarded to you? Sign up here