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Former ACCC chair Allan Fels says the competition regulator appears to have a strong misuse of market power case against Mastercard, but noted the credit card giant may raise arguments about two-sided markets in defending the claims.
Mastercard executives who claim they had no anti-competitive purpose when pursuing agreements with retailers to favour its network are expected to face cross-examination about responses given to the Reserve Bank about its least cost routing initiative.
Mastercard has hit back at the ACCC’s claims that it sought to prevent competition with EFTPOS through strategic agreements with large retailers, saying the deals were struck for “benign and pro-competitive” reasons.
Mastercard made ‘strategic’ agreements with large retailers like Coles and David Jones to keep them from routing through EFTPOS, offering discounted exchange rates that left smaller businesses footing the bill, the ACCC told the court on the first day of trial.
A judge has said he will not be able to decide all the suppression applications in the ACCC’s misuse of market power case against Mastercard ahead of trial, saying the court was facing an “unreasonable, if not oppressive” burden.
Mastercard has lost its challenge to a ruling requiring it to hand over communications about agreements with retailers in a misuse of market power case brought by the competition regulator.
ARN has flagged it might file a cross-claim against Kyle Sandilands seeking the repayment of his earnings in response to the shock jock's suit challenging its decision to scrap his 10-year $100 million contract with the network.
A Baker McKenzie partner specialising in M&A and private equity has made the jump to Johnson Winter Slattery.
A judge has asked the Australian Competition and Consumer Commission and Meta to resolve their standoff over document discovery in a case over scam cryptocurrency ads on Facebook.
A new class action has been launched on behalf of over 10,000 Chevrolet Silverado owners, following a global recall of the utes by General Motors.