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Trial in a case alleging Mastercard misused its market power by striking deals with retailers to defend revenues against EFTPOS routing has heard external competition lawyers suggested removing the word 'routing' from its contract with Woolworths.
Mastercard risked losing half its revenue from retail interchange fees as a result of the Reserve Bank's least-cost routing initiative, and struck deals with top retailers to defend its core business, a court was told Wednesday.
A trial judge has heard that Mastercard's top Australian executives discussed stripping Woolworths of strategic merchant status if the supermarket giant routed customer transactions through the cheaper EFTPOS network.
Mastercard's Australia boss was anxious to sign a deal with Woolworths on payments processing after learning that Coles had chosen to route all debit transactions through the cheaper EFTPOS network, a court has heard.
A judge has again voiced doubts about the ACCC's misleading conduct case over Woolworths' 'Prices Dropped' campaign, probing counsel for the regulator at length on Thursday about how the claims stack up.
Lawyers running a class action against Qantas over flight cancellations during COVID-19 will take home $15 million from a $105 million settlement, while the funder is set to receive another $25 million, a court has heard.
Mastercard considered threatening Coles with losing its discounted interchange fees to rival Woolworths if the supermarket chain re-routed customer debit and credit transactions away from the payments giant, a trial judge has heard in the ACCC's misuse of market power case.
Mastercard's APAC head was "perfectly comfortable" with the threat of removal of discounted interchange rates to cut a deal with Coles to route transactions through its payment network, a court has heard.
A barrister for KIIS FM shock jock Kyle Sandilands has responded to allegations that he bullied co-host Jackie 'O' Henderson by claiming his behaviour was desirable under his contract, saying “if you buy Kyle, you get Kyle”.
Was inflation at work, or deception, when Woolworths' advertised the Oreo Family Pack as a 'Prices Dropped' special of $4.50 in December 2022, when the biscuits had been selling for $3.50 just three weeks earlier?