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In a first, Lactalis hit with $950,000 penalty for Dairy Code breaches
Competition & Consumer Protection 2023-07-25 11:11 pm By Cat Fredenburgh

Dairy processor Lactalis Australia has been hit with a $950,000 penalty in the first proceedings against a company for breaches of the Dairy Code.

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ACCC delays decision on $4.9B ANZ, Suncorp merger
Competition & Consumer Protection 2023-07-24 11:10 pm By Cat Fredenburgh

The competition regulator has delayed its final decision on whether to approve ANZ’s $4.9 billion acquisition of Queensland-based Suncorp, after expressing worries the tie-up could stifle the growth of smaller banks.

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Costco in hot water over lobster country of origin claims
Competition & Consumer Protection 2023-07-21 2:26 pm By Sam Matthews

Wholesale retailer Costco has paid a penalty of $33,000 to the consumer watchdog after being caught out for labelling imported lobster as locally sourced.

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ACCC flags concerns with Coles acquisition of Saputo dairy plants
Competition & Consumer Protection 2023-07-20 12:30 pm By Gareth Baker

The ACCC has raised concerns about Coles plans to acquire milk processing plants from Saputo, with the regulator saying the transaction — marking the first time a supermarket chain has ventured into the processing market — would be a “major structural change”.

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ACL’s $1.5B tie-up with Healius rings alarm bells for ACCC
Competition & Consumer Protection 2023-07-20 3:07 pm By Gareth Baker

The proposed $1.5 billion merger of Australian Clinical Labs and Healius — two of Australia’s largest pathology services providers — is likely to substantially lessen competition, the ACCC has warned.

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Slew of insurers added to Virgin bond holders class action
Class Actions 2023-07-17 4:49 pm By Cindy Cameronne

A judge overseeing a class action accusing Virgin Australia of failing to disclose its true financial position in a $324 million capital raising prospectus has joined a dozen insurers to the proceeding, which he said had “regrettably languished”.

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Court approves $26M settlement in Scenic Tours class action
Class Actions 2023-07-14 9:53 pm By Gareth Baker

A court has approved a $26 million settlement in the long-running class action against cruise operator Scenic Tours, with $7 million earmarked for litigation funder Legal Justice.

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Law firm teams up with US plaintiffs giant to run Hyundai, Kia class actions
Automotive 2023-07-13 4:57 pm By Cindy Cameronne

A Sydney law firm running group proceedings against Hyundai and Kia over allegedly faulty anti-lock braking systems has joined forces with a NY-based class action firm that achieved a settlement worth up to $955 million against the car manufacturers in the US.

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Data brokers in ACCC’s sights over info harvesting
Competition & Consumer Protection 2023-07-10 4:54 pm By Cindy Cameronne

The Australian Competition and Consumer Commission has set its sights on data brokers such as Equifax and Corelogic amid concerns about harms to consumers from their information collecting practices.

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Viva Energy offers sell-off to win ACCC clearance for $1.15B OTR buy
Corporate 2023-07-07 11:18 pm By Christine Caulfield

The ACCC has launched a competition review of Viva Energy’s proposed $1.15 billion acquisition of South Australia-based On The Run Group, and the service station giant has already offered a sweetener to get the merger over the line.

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