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ACCC may ground Virgin, Alliance Airlines charter agreement
Competition & Consumer Protection 2022-10-21 4:02 pm By Cindy Cameronne

The Australian Competition and Consumer Commission is currently “not satisfied” that the public benefits from allowing Virgin and Alliance to continue to cooperate in markets for fly-in fly-out customers will outweigh its competition concerns. 

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Seven, Nine in hot water with media watchdog over gambling ads
Media 2022-10-21 4:43 pm By Cat Fredenburgh

The Australian Communications and Media Authority has found that Seven and Nine breached industry rules by showing gambling ads during their coverage of the Olympics and the NRL grand final last year.

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Bingo Industries’ former CEO pleads guilty to price fixing
Competition & Consumer Protection 2022-10-20 11:31 am By Sam Matthews

The former managing director and CEO of Bingo Industries has pleaded guilty to aiding and abetting the waste company in fixing prices for demolition waste services in Sydney.

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ACCC raises competition concerns over NSW Forestry’s Hume Forests deal
Competition & Consumer Protection 2022-10-20 4:35 pm By Cindy Cameronne

The ACCC has expressed concerns that Forestry Corporation of NSW’s proposed acquisition of Hume Forests could lead to price increases in regional areas by removing a significant competitor in the softwood market. 

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AMP grilled over possible breach of court orders in insurance churn case
Financial Services 2022-10-19 11:26 pm By Cindy Cameronne

A judge has questioned AMP Financial Planning over whether it breached court orders to compensate customers after finding the firm failed to prevent a now banned adviser from churning life insurance for higher commissions.

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Sanofi challenges Amgen’s patents for cholesterol-lowering antibodies
Intellectual Property 2022-10-18 5:23 pm By Sam Matthews

French drug giant Sanofi has appealed a decision giving American biopharmaceutical company Amgen the go-ahead for its patents for a cholesterol-lowering antibody that could be used to treat heart disease, diabetes, stroke and Alzheimer’s.

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James Mawhinney sues ASIC over ‘defamatory’ media release
Defamation 2022-10-17 3:55 pm By Cat Fredenburgh

Mayfair 101 founder James Mawhinney has sued the Australian Securities and Investments Commission and its deputy chair Sarah Court, alleging the corporate regulator defamed him in a media release issued last month.

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Cheese makers challenge Kraft’s ‘parmesan’ trade mark
Intellectual Property 2022-10-17 11:06 pm By Cat Fredenburgh

A consortium of parmigiano reggiano producers who claim Kraft Foods’ ‘Kraft parmesan cheese’ trade will lead customers to believe the food giant’s cheese is made in Italy have taken their fight to the Federal Court.

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Ultiqa slapped with $900,000 penalty for timeshare sales tactics
Competition & Consumer Protection 2022-10-17 2:42 pm By Sam Matthews

A judge has ordered timeshare company Ultiqa Lifestyle Promotions to pay a $900,000 penalty for cornering consumers into investing thousands in a timeshare scheme that many could not afford.

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ASIC issues stop orders on Holon crypto funds pitched to retail investors
Cryptocurrency 2022-10-17 3:02 pm By Sam Matthews

The corporate regulator has placed interim stop orders on three crypto funds distributed by Holon Investments Australia Limited, citing the need to protect investors from sinking money into funds that may be too risky and speculative.

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