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The Latest Breaking News from Australian Competition and Consumer Commission

Better grocery competition in duopoly-free markets

German discounter Aldi believes grocery competition is stronger in markets that aren't dominated by two major players, like Australia's duopoly.

AAP

'Game-changer' ruling to hit dodgy business tactics

Corporate wrong-doers are on notice following a landmark High Court decision relating to predatory business models.

AAP

Bad influence: social media stars and firms exposed

A sweep by the Australian Competition and Consumer Commission has found that many online influencers and businesses are misleading the public.

AAP

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Yes, childcare is costly, but nowhere near as costly as recent reports suggest – here's why

Childcare in Australia is generally regarded as expensive.

The Conversation

Positive outlook for local and export gas supplies for early 2024: ACCC

The outlooks for both local and export supplies of gas are positive for the early months of next year, according to the Australian Competition and Consumer Commission inquiry’s September report.

The Conversation

Australians lost more than $3bn to scammers in 2022. Here are 5 emerging scams to look out for

The Australian Competition and Consumer Commission’s latest Targeting Scams report indicates Australians reported more than A$3 billion lost to fraud in 2022. This is about a $1 billion increase on reported losses from 2021.

The Conversation

ACCC boss ramps up pressure on anti-competitive mergers

The consumer watchdog says it needs bolstered powers to stop takeovers that allow firms to dominate markets with scant competition.

The New Daily

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The NSW government has argued successfully to remove parts of a Federal Court judgment on Newcastle's container penalties so the state is not prejudiced in any renegotiation of its deal with Port Botany. The full bench of the Federal Court published on Thursday its reasons for rejecting an Australian Competition…

Newcastle Herald

Qantas complaints soar, as the ACCC calls on airlines to cut domestic airfares

Domestic airfares are still well above 2019 prices, despite jet fuel prices falling and bumper airline profits. The ACCC is warning carriers to cut airfares.

ABC News

See when Australia's biggest banks stopped paying proper interest on your savings – and what you can do about it

Whenever interest rates went up in the past, I used to get told it wasn’t all bad news. At least it was good for some people: savers – people with money in the bank.

The Conversation

Consumer watchdog calls on public to report social media influencers failing to disclose posts as ads

Influencers who are in breach of the Australian Consumer Law can face penalties of up to $2.5m

The Guardian - AU

Power prices surge 23pct, reform needed

The Australian Competition and Consumer Commission has called for reforms to ensure surging power prices can be brought under control.

AAP

Flight prices soar as travellers rush to get home for Christmas

Canberra travel agents are forecasting future pinch points will continue to put upward pressure on prices.

The Canberra Times

Pharmaceutical company Alkaloids of Australia fined $2m in Federal Court for 'deliberate, covert' behaviour

Alkaloids of Australia's conduct in fixing the price of a drug used in over-the-counter motion sickness has been described as deliberate and covert.

ABC News

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The Guardian - AU

Youpla collapse: ACCC warns funeral directors against ripping off victims

Australian Competition and Consumer Commission says people should not reveal to funeral providers they are eligible for payments from government scheme

The Guardian - AU

Optus could face millions in fines as two new data breach investigations launched

Media regulator and privacy watchdog announce new probes into telco as ACCC reveals it is being flooded with complaints about Optus-related scams

AAP

Competition probe for childcare costs

The Australian Competition and Consumer Commission watchdog will investigate what's driving high childcare prices as the government increases subsidies.

The Conversation

Avoiding a gas shortage is one thing, but what's needed is action on prices

The Albanese government has accepted the Australian Competition and Consumer Commission’s recommendation to “initiate the first step” to trigger the controversial Australian Domestic Gas Security Mechanism to avert a supply crisis in eastern Australia.

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The Conversation

The 'gas trigger' won't be enough to stop our energy crisis escalating. We need a domestic reservation policy

Australia’s east coast gas crisis is set to sharply worsen. A new report from the Australian Competition and Consumer Commission (ACCC) notes supply conditions will deteriorate significantly in 2023 if no action is taken. The 56 petajoule shortfall is huge – equivalent to around 10% of domestic demand.

AAP

Government acts to boost local gas supply

The competition watchdog has forecast a gas shortfall in the east coast market next year if excess supply is exported, leading to action by the government.

Asharq Al-Awsat

Samsung Fined $9.8M for Misleading Australian Phone Ads

An Australian judge on Thursday ordered Samsung to pay 14 million Australian dollars ($9.8 million) in penalties for misleading advertising over how water-resistant some models of smartphones are. Federal Court Justice Brendan Murphy gave Samsung Electronics Australia, a subsidiary of South Korea-based Samsung Electronics Co., 30 days to pay the…

The Conversation

ANZ's takeover of Suncorp will reduce bank competition – but will that be enough to block it?

Australia has one of the world’s most concentrated banking sectors, with its four biggest banks – Commonwealth Bank, National Australia Bank, Westpac and ANZ – holding more than about three-quarters of the market.

The Conversation

Australians lost $2b to fraud in 2021. This figure should sound alarm bells for the future

Australian consumers and businesses lost more than A$2 billion to scams in 2021, according to the Australian Competition and Consumer Commission’s (ACCC) annual Targeting Scams report released on Monday. This figure should sounds alarm bells – it’s more than double the $851 million reported lost in 2020.

ABC News

Why is petrol so expensive in Australia? And when will petrol costs go down?

Dreaming of taking a long drive this weekend? Even with the government halving the fuel excise to 22 cents a litre, petrol prices are still high. So what's going on?

Benzinga

Aussies Lost $81.5 Million to Crypto Scams This Year: ACCC

Australians lost over $AUD 113 million ($81.5m) to cryptocurrency scams between January 1 and May 1 this year, the Australian Competition and Consumer Commission (ACCC) on Monday said. According to ACCC, Australians lost a total of $AUD 205m ($148m) to various scams this year, a 166% increase compared to the…

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