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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 […]

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ANZ, Citigroup execs defend book coverage despite receding demand in $2.5B capital raising
Trials 2023-04-27 11:57 pm By Sam Matthews

Two executives involved in ANZā€™s $2.5 billion equity capital raising have stood by arguments that the book was covered when the bankā€™s underwriters took up […]

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‘The book was covered’: ANZ fights ‘entirely novel’ ASIC case over $2.5B share placement
Trials 2023-04-26 11:18 pm By Sam Matthews

ANZ has told a court it had no obligation to disclose a $750M bailout by the underwriters of a $2.5B equity capital raising in 2015, […]

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Class action argues fraud exception makes Norton Rose, Deloitte emails fair game
Class Actions 2023-04-26 11:47 pm By Cindy Cameronne

A class action over the collapse of Walton Construction has argued the National Australia Bank cannot shield communications with Norton Rose Fulbright and Deloitte because […]

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Judge ‘frustrated’ that remaining PFAS class action has not settled
Class Actions 2023-04-26 2:09 pm By Cindy Cameronne

A judge has expressed his “frustration” that a class action against the government over the use of alleged toxic firefighting foam has not settled despite […]

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Scenic Tours can cross-examine group members in cruise class action
Class Actions 2023-04-26 10:55 pm By Cat Fredenburgh

A judge has ruled Scenic Tours can cross-examine class action members without seeking approval from referees, who will oversee a process for assessing amounts owed […]

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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 ā€œdeeply concernedā€ by the size of the shortfall in its $2.5 billion 2015 equity capital raising, the court heard on […]

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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 […]

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Scenic Tours can’t dodge $10M damages ruling in cruise class action
Competition & Consumer Protection 2023-04-20 10:45 pm By Sam Matthews

Cruise operator Scenic Tours is stuck with a $10 million damages bill but has avoided paying for disappointed travellerā€™s flights, after an appeals court mostly […]

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Qantas asks for meeting with ACCC after Alliance acquisition hits wall
Aviation 2023-04-20 11:14 am By Christine Caulfield

The competition regulator has opposed Qantas’ acquisition of Brisbane-based regional airline Alliance Aviation Services, saying the deal was likely to substantially reduce competition in air […]

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