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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 Bank’s cash rate increases, as part of an inquiry launched in February.
Lawyers would be subject to anti-money laundering laws under ‘overdue’ reforms
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Reforms to simplify and modernise Australia’s anti-money laundering and counter-terrorism financing regime will see lawyers and accountants subject to the regulations for the first time.
Scenic Tours can’t dodge $10M damages ruling in cruise class action
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Cruise operator Scenic Tours is stuck with a $10 million damages bill but has avoided paying for disappointed traveller’s flights, after an appeals court mostly rejected its appeal of an award to travellers who were promised a “once in a lifetime cruise along the grand waterways of Europe” but were instead forced to take the bus.
Qantas asks for meeting with ACCC after Alliance acquisition hits wall
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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 transport for mining companies in Western Australia and Queensland.
‘It’s game over’: Victoria tries again to stay hotel quarantine class action amid criminal case
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The state of Victoria is trying again to stay a class action over the 2020 hotel quarantine debacle in light of a pending criminal action against the Department of Health, telling an appeals court the fundamental principles of the criminal justice system must be protected.
‘A schemozzle’: Judge pans firm’s attempt to drop class action against Telstra
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A judge has slammed as a “schemozzle” a law firm’s attempt to drop a class action by Telstra employees over the telecom giant’s COVID-19 vaccine policy, saying it failed to seek court approval for the discontinuance or give notice to group members as required.
The Reject Shop hit with underpayments class action
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Discount retail chain The Reject Shop has become the latest Australian company to be stung with an underpayments class action.
Crypto class action against Qoin issuer trying to bring ‘entirely new’ case, court told
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Qoin cryptocurrency issuer BPS Financial is fighting a class action applicant’s bid to amend its case for the fourth time, saying it is trying to bring an “entirely new claim”.
Sika’s deal with MBCC Group wins clearance from ACCC with sell-off
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The ACCC has given its blessing to Sika’s planned acquisition of Germany-based MBCC Group, subject to the divestiture of MBCC’s Australian and New Zealand business.
Federal Court’s new top judge to bring ‘swashbuckling to judging’
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The Federal Court’s new Chief Justice Debra Mortimer will bring a sense of adventure to her role as top judge, which she foreshadowed will be approached holistically in a welcome ceremony before pre-eminent members of the legal community.