An explosive front-page report in the Financial Review details the corporate regulator ASIC's evidence it will use in a major case against Westpac over allegations staff manipulated a key interest rate, called the bank bill swap rate.

Court documents tendered on Friday show traders openly discussed how "f---ing with the rate set" would short-change some customers and potentially lead to an inquiry.

This case is the one that prompted Malcolm Turnbull to "give the banks a lecture" about their behaviour.  Labor Leader Bill Shorten is promising a royal commission which is so popular at least half a dozen Liberal MPs have lined up to support it. 

2. Woolies and 7-Eleven new corporate villains

7-Eleven in hot water again after sacking the wages panel

I'm surprised Labor hasn't attempted to make more of the 7-Eleven's recent decision to disband the independent review panel it tasked with repairing the damage during the campaign. AMR's 2016 Corporate Reputation Index has 7-Eleven plummeting from 36th position to 56th in a survey rating 60 high-earning companies, after the company was caught ripping off its mostly overseas student workers.

Woolworths has also taken a hit. JB Hi-Fi is number one.

3. Federal Election: Week Two

Prime Minister Malcolm Turnbull and Opposition Leader Bill Shorten shake hands at the start of the People's Forum debate at the Windsor RSL. Photo: Andrew Meares

Week One was a slow start, deliberately so, and expect it to continue, reports The Australian in a piece that expresses hope the politicians are finally finding a workable rhythm in the era of real-time reporting.

The Adelaide Advertiser reports Shorten will make a $59 million funding commitment to support manufacturing in South Australia following the closure of the carmakers.

For the government's part, Tony Abbott and Peta Credlin dominate the Coalition's message after the former PM's presidential-style launch in his Sydney seat of Waringah.  If the government can't get sharper messages and learn how to dominate the issues up for debate it's going to continue to suffer in an election even some Coalition figures believe is increasingly up for grabs.

Don't miss this great comment piece from Tom Switzer, a former advisor to Brendan Nelson, on how Turnbull can lose.

Tony Abbott at the launch of his ninth campaign for the seat of Warringah on Sunday. Photo: supplied

Tony Abbott says he finds his former chief of staff Peta Credlin's political commentary, in which she gave a scathing critique of Turnbull's tactics and devastatingly dubbed him "Mr Harbourside Mansion" was "riveting viewing."

Double Shot readers are welcome to email me their suggestions for other ways Coalition figures might describe the programming. Anonymity guaranteed.

And I'm also taking bets on how long until the minister who continually demanded Sky's Ashleigh Gillon apply their make up ('cos she's a girl right!) but rejected the same offer from David Speers (what would he know about a powder and a puff?) is outed.

And Daniel Meers over at The Daily Telegraph has taken on a commission about Turnbull's fashion sense with the appropriate level of gusto and self-deprecation required for a "story" like this. Final four lines are hilarious.

4. Trump on Brexit

This is really interesting. Trump the isolationist has said if he were British he would probably favour leaving the European Union. More importantly, the presumptive Republican nominee has said if he's President he would not make Britain go to the back of the queue to sign a new trade agreement.​

This is a direct repudiation of what outgoing President Barack Obama predicted during his recent visit to London and it will play straight into the Brexiters hands who argue Britain's economy is so large, no right-minded country is going to delay on sorting out a good trade deal.

5. Bomb disposal unit called to football match at Manchester

Manchester United's match against Bournemouth was abandoned and the bomb squad called into to explode a package left unattended at Old Trafford.

It turned out to be a hoax. 

6. Garrett's solo act

After his political career ended ingloriously (demotion over the former Rudd Government's home insulation scheme) Peter Garrett turned to book writing.

Now the Midnight Oil frontman is returning to what made him famous - music, with his three daughters joining him on the record A Version of Now.

Release date July 15.

That's it for today, you can follow me on Facebook for more. 

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