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ACCC tells ‘fake local’ florists to get out of town
Competition & Consumer Protection 2023-05-29 11:37 pm By Gareth Baker

The ACCC has brought proceedings against a national flower retailer for allegedly adapting its websites and google ads to deceive online customers into believing they were a local florist. 

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Optus fronts Competition Tribunal to warn about ‘troubling’ $1.8B Telstra, TPG deal
Competition & Consumer Protection 2023-05-09 11:36 pm By Cindy Cameronne

Telstra and TPG have asked the Competition Tribunal to undo the ACCC’s rejection of their proposed regional network sharing agreement, but fellow telco Optus has warned the deal would kneecap its ability to compete.

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Virgin, Alliance charter pact grounded by competition watchdog
Competition & Consumer Protection 2023-05-05 12:12 pm By Cindy Cameronne

The Australian Competition and Consumer Commission has put the brakes on a cooperation agreement between Virgin Australia and Alliance Airlines for fly-in fly-out customers, citing concerns about increased prices and reduced services. 

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ACCC says vitamin maker’s shark source claims smell fishy
Competition & Consumer Protection 2023-05-05 3:36 pm By Gareth Baker

Australian supplement manufacturer and retailer Universal Pharmaceuticals has admitted that it likely misled customers about the origin of shark products used in a supplement sold on its
Wealthy Heath website.

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Bloomex to admit to duping consumers with online ratings
Competition & Consumer Protection 2023-05-04 11:42 pm By Cat Fredenburgh

Online florist Bloomex will admit to the Australian Australian Competition and Consumer Commission’s allegations that it violated consumer laws by posting misleading customer ratings on its website.

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Meta’s market power still eclipses all other social media combined, ACCC says
Social Media 2023-04-28 11:14 pm By Christine Caulfield

Despite the growing popularity of new entrant TikTok, Facebook and Instagram-owner Meta retains significant market power in the social media industry, reporting annual advertising revenue of $5 billion in Australia alone, a report has found.

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ANZ exec ‘deeply concerned’ about $2.5B share placement shortfall, court hears
Trials 2023-04-24 10:03 pm By Sam Matthews

A senior ANZ executive was “deeply concerned” by the size of the shortfall in its $2.5 billion 2015 equity capital raising, the court heard on the first day of trial in ASIC’s civil penalty case against the bank over alleged disclosure breaches.

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Banks face ACCC scrutiny over interest rate-setting
Financial Services 2023-04-21 11:23 pm By Christine Caulfield

The competition and consumer regulator is examining how banks set interest rates on savings accounts and why they are not in line with the Reserve Bank’s cash rate increases, as part of an inquiry launched in February.

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Sika’s deal with MBCC Group wins clearance from ACCC with sell-off
Competition & Consumer Protection 2023-04-20 12:52 pm By Christine Caulfield

The ACCC has given its blessing to Sika’s planned acquisition of Germany-based MBCC Group, subject to the divestiture of MBCC’s Australian and New Zealand business.

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Architecture firm to pay $975,000 for attempting to rig bids on $250M university project
Competition & Consumer Protection 2023-04-13 1:52 pm By Sam Matthews

Award-wining architecture firm Ashton Raggatt McDougall and its former boss have agreed to pay a combined $975,000 in penalties for attempting to rig bids on a $250 million building project at Charles Darwin University.

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