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🗞️ Unfair dismissal
An estimated 40% to 50% of unfair and unlawful dismissal claims now use AI-generated submissions.
Pick & Scroll News
June 05, 2026
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Good morning. Alphabet has announced plans to raise $80 billion through a stock sale, the largest in history with Berkshire Hathaway alone committing $10 billion, all to fuel its AI infrastructure ambitions.
The move comes amid a historic week for capital markets, with SpaceX's $1.75 trillion IPO just days away and both OpenAI and Anthropic also filing to go public later this year.
At this rate, Wall Street might need its own AI just to keep up with the paperwork.
All the headlines and more below...
HALF OF ALL UNFAIR DISMISSAL CLAIMS ARE NOW AI-GENERATED.
The Fair Work Commission estimates 40-50% of workers lodging unfair or unlawful dismissal cases are using AI to write their claims. That's based on a survey of about 250 applicants, employers, lawyers and commission members. 40% of applicants admitted it. Commission members put the real figure at 50%.
127% increase in cases allocated per staff member.
Total claims hit a record 44,000 last financial year and kept climbing. The commission's general manager told Senate estimates they're "taking on water", finalising more matters than ever but still falling behind. One worker waited six months for a decision after their hearing.
Workplace Relations Minister Amanda Rishworth introduced legislation this week to cut admin and reject frivolous claims faster.
AUSTRALIAN NEWS
GDP per capita went backwards in the quarter, down 0.1%, in the first contraction since the start of 2025. LINK
The Federal Labor government’s $10B housing fund has completed 1,432 homes toward a 40,000-home target by June 2029. LINK
The Fair Work Commission told a Senate inquiry that an estimated 40% to 50% of unfair and unlawful dismissal claims now use AI-generated submissions as annual cases exceed 44,000. LINK
Donald Trump has threatened 12.5% tariffs on Australia as part of a plan to hit 60 trading partners over alleged failures to block imports made with forced labour. LINK
Australia’s top intelligence agency has joined a rare Five Eyes bulletin warning that Chinese spies are posing as online recruiters to target Australians with security clearances. LINK
Origin Energy warned that soaring costs for wind farms and other low-carbon infrastructure mean next financial year's dip in electricity prices is unlikely to continue. LINK
Meta has accused Australia of breaching the US-Australia Free Trade Agreement by proposing a 2.25% tax on all Australian revenue of large tech platforms without media licensing deals. LINK
DATA CENTRES DELIVERED 100% OF AUSTRALIA'S GROWTH LAST QUARTER.
The economy grew 0.3% in Q1 2026. Westpac estimates the entire gain came from businesses buying machinery to build data centres in NSW and Victoria. Equipment investment jumped 16.3%.
GDP per capita fell 0.1%, which is the first contraction since early 2025.
Most of that equipment had to be imported. Automatic data processing gear flooded in at record levels, pushing goods imports up 1.4%. That surge detracted from GDP through net trade, wiping out much of the boost.
Strip out the AI infrastructure push and the economy didn't grow at all. Oxford Economics warns surging inflation, oil prices and shattered confidence will suppress household spending through the rest of the year.
COMPANY NEWS
TPG Capital Australia boss Joel Thickins has been arrested in Sydney after allegedly crashing his BMW into 5 cars and repeatedly refusing police breath testing and analysis. LINK
KPMG is facing deepening turmoil as partners quit, senators urge a ban on government work and a defence unit sale for $1 plus $200M in entitlements looms. LINK
Treasury Wine Estates reaffirmed FY26 EBIT guidance of $480M to $490M and FY27 earnings at least equivalent, while targeting long-term EBIT margins above 25% from FY28. LINK
Dexus has rejected a late-2023 takeover approach for its troubled infrastructure division as it faces fallout from a NSW Supreme Court ruling and investor pressure over frozen redemptions. LINK
Nine Entertainment made an early multi-year bid to extend Stan Sport rights for the English Premier League into the 2030s as it seeks long-term sports content. LINK
SpaceX filed to raise US$75B in a record IPO valuing it at US$1.765T as rule changes accelerate index inclusion, exposing about 17M Australian super holders to heightened AI-related concentration risk. LINK
Exclusive Briefing: SpaceX IPO 2026
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CHART OF THE DAY
The chart shows that very few countries enforce mandatory helmet laws for all cyclists, with most nations either having no rules or applying them only partially such as for children or specific regions. Countries like Australia and New Zealand are outliers in requiring universal compliance, while much of Europe leaves the choice to the rider.
ONE MORE SCROLL
Editor’s Pick: The 25th Serpentine Pavilion opens tomorrow in London.
Draft Pick: New York Knicks take Game 1 over San Antonio spurs.
Doctor’s Pick: Autism may have two biologically distinct subtypes.
TRIVIA
The Football World Cup is just around the corner. Who were the last three winners?
Answers below
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