Snap IPO: a 21st-century firm with a 19th-century structure

New shareholders without voting rights means Snap’s corporate governance involves another tech firm saying: I am a genius – no one should question me

Snap’s arrival on the New York stock exchange is ludicrous in two ways. The first doesn’t matter terribly. If investors want to place a value of $29bn on a five-year-old company that made losses last year of $514m, that’s their lookout. The second is serious. Snap was offering only shares with zero voting rights, which sets an appalling governance example.

Technology and social media pioneers already had a shocking record of ignoring the principle that equal economic risk should imply equal voting power. It was poor practice when Google and Facebook floated with shares carrying restricted voting rights, but at least the new co-owners were not entirely frozen out of debates about how the company should be run.

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Adler A110 shotgun ban could be lifted after firearms law is quietly amended

National Firearms Agreement finalised by Council of Australian Governments in February and published, but not officially announced

Australia’s federal and state governments have quietly amended the landmark national firearms agreement in a move that could pave the way for the removal of the import ban on the controversial Adler A110 and other lever action shotguns.

The federal government has been undertaking a major review of the landmark 1996 firearms agreement that was put in place after the Port Arthur massacre, prompted in part by the Martin Place siege.

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Undocumented woman arrested after seeking protection prepares for possible indictment

Irvin Gonzalez was arrested by federal immigration authorities moments after she was granted a protective order in a domestic violence case

A woman arrested by immigration officials at a Texas courthouse where she sought protection from domestic violence is set to find out whether she will be indicted by a grand jury for illegal re-entry to the US.

Irvin Gonzalez has been held in the El Paso County jail since being held on 9 February by federal agents moments after being granted a protective order by a judge. The case prompted a national outcry, with women’s rights advocates arguing that the arrest risks discouraging undocumented people in violent situations from contacting law enforcement for help.

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WA election: polling in key seats give Labor hope, despite bigger picture

Statewide polls suggest a 10-seat net gain is beyond Labor but marginal surveys show stronger support. Then there’s One Nation

With a little over a week to go before Western Australians head to the ballot box, the polls are telling two different stories. Statewide surveys suggest Labor may struggle to win enough seats to form government but local polling suggests Labor is gaining enough of a swing to win the 10 seats it needs.

On the new electoral boundaries, Labor holds 20 seats, with the Liberal-National Coalition holding the remaining 39. A net gain of 10 seats for Labor would give it a majority.

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