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‘We don’t know’ not a reason to block $4.9B Suncorp merger, ANZ says
ANZ has criticised the ACCC’s objection to its planned $4.9 billion merger with Suncorp, arguing before a tribunal that the alleged "uncertain" effects on competition in banking was not a sufficient reason to block the deal.
Qantas stands by defence in ghost flights case
Qantas has hit back the ACCC's argument that the airline failed to respond to key allegations in its 'ghost flights' case, telling the court it's the regulator's job to particularise its claims.
PepsiCo loses dispute with ATO over royalty withholding tax
In a victory for the ATO, a judge has found that payments made by Schweppes to PepsiCo as part of a bottling and distribution agreement, which did not expressly provide for payment of a royalty for use of the company's IP, were royalties and should be taxed accordingly.
ACCC wins record $15M penalty for resale price maintenance
Power tool maker Techtronic has been ordered to pay a record $15 million penalty after admitting it told resellers to set a minimum price for Milwaukee branded products, for which it is a wholesale supplier.
Noumi in talks with ASIC on penalty for continuous disclosure breaches
Food manufacturer Noumi is trying to reach agreement with the Australian Securities and Investments Commission on a penalty to propose to the court for violating its continuous disclosure obligations by overstating the value of inventory.
ACCC clears Coles’ acquisition of Saputo milk processing plants
The Australian Competition and Consumer Commission will not oppose Coles' plans to acquire two milk processing plants from Saputo, saying the $105 million deal is not likely to substantially lessen competition.
RACQ to pay $10M for misleading customers about insurance discounts
RACQ Insurance has agreed to pay a $10 million penalty for misleading customers about their entitlements to discounts on certain insurance products.
Businesses to face steep penalties for failing to block scams
The Albanese Government has floated a new regulatory framework under which businesses would face steep penalties for failing to do their part to prevent scams.
Ex-ANZ unit hit with $5M penalty for fees-for-no-service conduct
Former ANZ superannuation trustee OnePath Custodians has been hit with a $5 million penalty for charging superannuation members more than $4 million in fees that it was not entitled to.
Sensitive data of 223,000 people stolen in ACL data breach: OAIC
'Serious and systemic' failures in Australian Clinical Labs' cyber framework left the pathology services provider vulnerable to a cyberattack that exposed the sensitive health data of more than 223,000 people, including tests for fertility and sexually transmitted diseases, according to the OAIC.