ACCC Commissioner Mick Keogh delivers an address to the Third Annual Australian Agribusiness Law Conference on the topic of regulation in the agriculture industry.
The Full Federal Court has today ordered Japanese company Yazaki Corporation (Yazaki) to pay increased penalties of $46 million for cartel conduct, following an appeal by the ACCC. This is the highest penalty ever handed down under the Competition and Consumer Act (2010).
The trial judge had earlier found that Yazaki had engaged in anti-competitive cartel conduct in the supply of wire harnesses used in the manufacture of the Toyota Camry. The Full Court dismissed Yazaki’s cross-appeal of the trial judge’s finding that it had engaged in cartel conduct.
Under its current petrol monitoring direction the ACCC produces industry reports on aspects of consumer interest in the fuel market.
The ACCC has authorised health insurer HCF and participating dentists to agree on a maximum price for some dental services provided to HCF members.
HCF intends to open its own dental clinics in locations where it already runs its “More For Teeth” program.
Under the More For Teeth program, participating dentists cap fees for HCF members for a limited number of basic preventative and diagnostic dental services, enabling HCF to offer “no gap” arrangements at participating dentists.
More and more consumers are receiving higher-speed NBN plans and the 50Mbps plan now makes up 26 per cent of all NBN plans, up from just 4.6 per cent in December 2017.
The ACCC’s ninth quarterly Wholesale Market Indicators Report found the number of 50Mbps services being acquired from NBN Co increased from 158,959 to 989,360 in the quarter to 31 March 2018.
“Nearly one million customers are now using a plan with 50Mbps speeds. This is a remarkable shift in just three months,” ACCC Chairman Rod Sims said.
The ACCC has granted authorisation for an agreement between the Port of Brisbane and cruise operator Carnival to develop a new $158 million cruise terminal in Brisbane, subject to two conditions.
Under the agreement, Carnival will pay a fixed annual amount to the Port for 15 years in return for preferential berthing rights at the new terminal. These include 100 "Foundation Berthing Days" a year, giving Carnival first pick of 100 days at the terminal each year, up to a maximum of four days a week.
The cattle and beef industry has not acted on most of the recommendations made by the ACCC in 2017 to improve the transparency and efficiency of Australian cattle markets, according to a review released today by the ACCC.
ACCC Chair Rod Sims, addresses the Australian Automobile Aftermarket Association, regarding the findings of the ACCC's new car retailing market study.