News Archives - Page 13 of 56 - Consumers' Federation of Australia

21 August , 2023

Dell Australia Penalised $10 million for Misleading Representations

Original media release from ACCC (14/08/2023), link here. The Federal Court today ordered that Dell Australia Pty Ltd pay $10 million for making false and misleading representations on its website about discount prices for add-on computer monitors. In enforcement proceedings brought by the ACCC, Dell Australia admitted that it had misled customers about the price…

21 August , 2023

Airport Finances Impacted by COVID-19

Due to COVID-19, all Australian airports have recorded noticeable drops in their financial performances since 2018-2019 with Sydney and Melbourne airports by far the most negatively affected with both airports profit margins dropping by 48% in 2021-2022.
Unfortunately, the data airports are required to submit to the ACCC lack the detail necessary to determine if or how much their natural monopoly is being used – something both the ACCC and airlines have raised as concerns.

18 August , 2023

Regulated Water Charges in Murray-Darling Basin Fell in Real Terms 2021-2022

Regulated water charges varied substantially between the different states in the Murray-Darling Basin in 2021-22 as wet conditions across the Basin kept water availability high, the ACCC’s annual Water Monitoring Report 2021-22 shows.

The Murray-Darling Basin focused report monitors regulated water charges, compliance with the water rules by infrastructure operators, and ‘transformation’ arrangements that allow irrigators to convert an irrigation right into a standalone water access entitlement, held by the irrigator or traded to another person.

15 August , 2023

Inquiry into Price Gouging and Unfair Pricing Practices Launched by the ACTU

The Australian Council of Trade Unions (ACTU) has recently announced an inquiry into price gouging and unfair pricing practices to be chaired by Professor Allan Fells AO.

The announcement comes just after the OECD released a research report which found that “historically high corporate profits”, rather than wages, was the leading cause for inflation in Australia. With the OECD suggesting corporate profits may account for an average of 51% of inflation in recent years.

10 August , 2023

Governments Called to ‘Step Up’ to Ensure a Consumer-Focused Energy Future

Energy Consumers Australia (ECA) newly released report, Stepping Up: A Smoother Pathway to Decarbonising Homes (available here), has called on local, state/territory, and federal governments to collectively ‘step up’ and ensure everyone in Australia is supported and enabled to go all-electric. The policy report is based on research by CSIRO and Dynamic Analysis which has increased our understanding on the shared and individual costs of electrification for consumers.

10 August , 2023

New Zealand Starts to Implement Mandatory Grocery Unit Pricing

New Zealand has passed Regulations that require many instore and online grocery retailers to provide the unit price (price per standard unit of measure) for most products sold.

However, for instore retailers the Regulations will only come fully into force in August 2024 and for online retailers in August 2025.

9 August , 2023

Data Breaches Seen as Number One Privacy Concern

There has been a sharp increase in the number of Australians who feel data breaches are the biggest privacy risk they face today, according to a major survey released today by the Office of the Australian Information Commissioner (OAIC).

7 August , 2023

ANZ’s Proposed Suncorp Acquisition Denied by ACCC

The Australian Competition and Consumer Commission (ACCC) has decided not to grant merger authorisation for ANZ Banking Group (ASX:ANZ) to acquire Suncorp Group’s (ASX:SUN) banking arm.
“We are not satisfied that the acquisition is not likely to substantially lessen competition in the supply of home loans nationally, small to medium enterprise banking in Queensland, and agribusiness banking in Queensland,” ACCC Deputy Chair Mick Keogh said.

4 August , 2023

Presentation Date, Terms of Reference Announced for Flood Insurance Inquiry

Last week the Australian Government announced its intention to form a Senate Inquiry into insurer response to the 2022 floods. This week, according to a media release from Minister for Financial Services and Assistant Treasurer the Hon. Stephen Jones MP, will be presenting the motion for its consumer-focused Inquiry to the house this Monday, August 7th.

3 August , 2023

ASIC Sues eToro in its First Design and Distribution Action to Protect Consumers from High-Risk CFD Products

ASIC alleges eToro’s target market for the CFD product was far too broad for such a high-risk and volatile trading product where most clients lose money, and that the screening test was wholly inadequate to assess whether a retail client was likely to be within the target market.

ASIC considers that eToro’s conduct is likely to have resulted in a significant number of retail clients being exposed to the CFD product that was unlikely to be consistent with their investment objectives, financial situation and needs, resulting in a significant risk of consumer harm.

2 August , 2023

Regulator acts to improve grocery unit pricing in the UK

“To assist consumers with the cost of living crisis and the high rate of grocery price inflation, the ACCC and the Federal Government should follow the UK’s example and take action now to substantially improved the quality of the unit pricing provided by Australian grocery retailers and to improve the Grocery Unit Pricing Code administered by the ACCC.”

1 August , 2023

AFIA Buy Now Pay Later Code Compliance Committee Chair Announced

The Australian Finance Industry Association (AFIA), the peak body for the entire Australian finance industry, today announced that Ms Jillian Brewer has been appointed as the new chair of the AFIA Buy Now Pay Later Code Compliance Committee (CCC) for a three-year term. Jill was an inaugural member of the CCC and is an experienced lawyer, conciliator, investigator and trainer, with more than 20 years of experience in alternative dispute resolution.