ACCC

The federal government has backed suggestions for changes to the Food and Grocery Code that would slap major grocery stores with fines of up to $10 million for violating the code, amid concerns over rising food prices.

The ACCC has raised concerns that Singaporean agricultural giant Olam Agri Holding’s bid to acquire ASX-traded cotton ginner Namoi Cotton could reduce competition and stick cotton farmers with higher prices, one month after flagging similar concerns with Louis Dreyfus’ competing takeover proposal. 

The ACCC has flagged competition concerns about drug supplier Sigma Healthcare’s proposed $8.8 billion reverse merger with Chemist Warehouse, saying the tie-up could harm independent pharmacies and lessen competition in pharmacy retail.

Industrial technology company Delta Building Automation has been hit with a $1.5 million penalty after it was found liable for attempting to rig a bid for construction work on the National Gallery of Australia, a penalty five times the sum it asked the court to impose.

Legal representatives for a company that dobs in fellow cartel members will not generally be permitted in the room when the competition regulator interviews directors, employees and others seeking derivative immunity from prosecution, under proposed amendments to the ACCC’s immunity policy.

Global Payments’ plan to acquire Sydney software company School Bytes Learning may substantially lessen competition, the Australian Competition and Consumer Commission has said in outlining preliminary concerns with the deal.

A New South Wales developer’s competition case against NSW Ports over a ports privatisation agreement looks bound for the High Court after a judge found a related ACCC proceeding did not bar it from bringing the case, which will challenge a Full Court finding that the ports operator was shielded by derivative Crown immunity.

Consumers are “generally unaware” of the extent to which data firms and third parties mine and utilise their data, according to a report by the Australian Competition and Consumer Commission. 

The Australian Competition and Consumer Commission has expressed concerns that France-based Louis Dreyfus’ proposed acquisition of ASX-traded cotton gin operator Namoi Cotton could substantially lessen competition and lead to higher prices for ginning services.

Qantas will pay a $100 million penalty and another $20 million in compensation in a settlement of the ACCC’s so-called ghost flights case that includes an admission by the airline that it engaged in misleading and deceptive conduct in selling tickets for cancelled flights.