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Having failed to get the competition regulator’s OK to jointly bargain with Apple Pay, three of Australia’s largest banks are banding together to create their own smartphone app.
Seafolly suit says Seko deal no day at the beach
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Aussie swimwear company Seafolly Pty Ltd has sued two units of global logistics giant Seko Group, saying they breached Australian consumer law by misrepresenting their capabilities in a shipping contract they entered into.
US antitrust head promises strong international cooperation
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The newly installed Department of Justice antitrust head in the U.S. said Friday that international enforcement will be among his top priorities.
Competition lawyers brace for tougher enforcement
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Lawyers are advising large companies to look hard at their business plans to keep on the good side of the Australian Competition and Consumer Commission now that the enforcer has a new arsenal to deploy.
ASIC wins $1M in first fine for breach of best interests
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The Australian Securities and Investments Commission has won a $1 million penalty against a financial advice firm for breaching the so-called best interest duty, the first ever penalty imposed for such a violation.
Rod Sims ready to net big fish with ACCC’s new powers
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The likes of Google, Facebook and Amazon could find themselves in the crosshairs of a newly empowered Australian competition regulator, and Rod Sims wants to move fast, the chairman told Lawyerly.
NBN complaints skyrocket, ACCC report says
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Complaints to the Telecommunications Industry Ombudsman about the National Broadband Network increased 79 percent in the past year, even when new additions to the network were taken into account, according to a new report by the Australian Competition and Consumer Commission.
Pacific National offers concessions to ACCC on terminal deal
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Rail freight operator Pacific National has promised the Australian Competition and Consumer Commission it won’t discriminate between users of the Acacia Ridge Terminal in Queensland, one of several proposed concessions it offered in hopes of winning the regulator’s blessing on its proposed deal to acquire the terminal from Aurizon Holdings Limited.
Westpac to face ASIC alone in rate rigging trial
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Westpac Banking Corp. will go it alone and defend itself at trial against claims by Australia’s securities regulator that it rigged interest rates, after National Australia Bank and Australia and New Zealand Banking Group reached settlements on the eve of trial.
Date set for Prysmian appeal of $3.5M cartel fine
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A date has been set for the Full Federal Court to hear Prysmian Cavi E Sistemi’s appeal of a $3.5 million fine in a case brought by Australia’s competition regulator against the Italian cable manufacturer for alleged cartel conduct.