Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Australian Competition"


25 mentions found


Meta is partnering with banks to identify scam accounts. Meta says the collaboration led to the removal of 20,000 scam accounts in the UK alone. So Meta launched a new program that allows banks to "share intelligence" directly with the social media conglomerate to more efficiently combat scams. Meta said in a statement that, based on data shared by the two banks, it has already removed 20,000 accounts it believes were run by scammers. In just the first six months, the program blocked 8,000 different pages and 9,000 celebrity scams, Meta told the outlet.
Persons: Meta, , David Lindberg, Andrew Forrest Organizations: Meta, Service, Facebook, Intelligence, Wednesday, NatWest, Metro Bank, scammers, Guardian, Retail Banking, Australian Competition, Consumer Commission, Business Locations: Australia, cryptocurrency
Scammers are using deepfake celebrity videos to steal from fans. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementScammers in Australia are using deepfake photos and videos of celebrities to steal from people in increasingly creative ways. Australians have lost up to $8 million to scammers using online investment platform scams this year, according to the Australian Competition and Consumer Commission. The scammers use fake news articles and deepfake videos to trick people into believing that a celebrity is asking them for a large sum of money.
Persons: Robert Irwin, Organizations: Service, Australian Competition, Consumer Commission, Business Locations: Australia
Qantas, Australia’s national airline, said on Monday that it had reached a deal with the country’s consumer watchdog to pay the equivalent of $79 million for selling thousands of tickets to flights that it had already canceled. The airline said in a statement that the payments, totaling 120 million Australian dollars, would resolve a lawsuit that the Australian Competition and Consumer Commission filed against Qantas over the issue last year. The commission accused the airline of advertising and selling tickets for more than 8,000 canceled flights from May 2021 through July 2022. The commission said Qantas had known that the flights would never take off, and that tickets remained available for an average of over two weeks after the flights were canceled — in some cases, for as long as 47 days. Qantas said it expected to pay 20 million Australian dollars in compensation to more than 86,000 of its customers, as well as a fine of 100 million dollars, subject to court approval.
Organizations: Qantas, Australia’s, Australian Competition, Consumer Commission
Sydney — Qantas Airways has agreed to pay 120 million Australian dollars ($79 million) to settle a lawsuit over the sale of thousands of tickets on already canceled flights, in an attempt to end a reputational crisis that has engulfed the airline. The fine is the biggest ever for an Australian airline and among the largest globally in the sector, although some Australian banks and casino operators have faced higher penalties. “We recognize Qantas let down customers and fell short of our own standards,” CEO Vanessa Hudson said in a statement. It had said the airline sometimes sold tickets to flights weeks after they were canceled. The ACCC’s Cass-Gottlieb noted that the settlement included a promise from Qantas not to repeat the conduct.
Persons: Vanessa Hudson, , Hudson’s, Alan Joyce, Hudson, Gina Cass, Gottlieb, ACCC’s Cass Organizations: Sydney, Qantas Airways, Qantas, Australian Competition, Consumer Commission, Federal Court, ACCC Locations: Hudson
Qantas was accused in 2023 of advertising tickets to flights that were already canceled. Regulators announced Sunday that the airline agreed to pay $13.2 million to impacted customers. Qantas will pay $149 to domestic ticket holders and $298 to international ticketholders. AdvertisementRegulators said on Sunday that Qantas Airways has agreed to pay about 20 million Australian dollars to more than 86,000 customers to settle allegations that the airline misled them by selling them tickets for canceled flights. The Australian Competition & Consumer Commission (ACCC) said in a Sunday press release that the Australian airline company will pay 225 Australian dollars to domestic ticketholders and 450 Australian dollars — about $149 and $298 in US currency — to international ticketholders.
Persons: Organizations: Qantas, Regulators, Service, Qantas Airways, Australian Competition, Consumer Commission, Australian, Business
New York CNN —Google is removing links to California news websites in reaction to proposed state legislation requiring big tech companies to pay news outlets for their content, the company announced Friday in a blog post. “It’s time they start paying market value for the journalism they are aggregating at no cost from local media.”Charles F. Champion, the president and CEO of the California News Publishers Association, said Google is suppressing California news. Google has not responded to CNN’s request for comment about the current state of talks with the Canadian government. The company had a similar reaction to a 2021 Australian law that would require platforms to compensate Australian news outlets for using their content. Google said at the time it would pay publishers through its Google News Showcase instead of paying them for links.
Persons: Tempore Mike McGuire, , Assemblymember Buffy Wicks, , Charles F, we’ve, CJPA, Jaffer Zaidi Organizations: New, New York CNN, Google, California Journalism, Meta, California, Pro, Tempore, , California News Publishers Association, Global, Australian Competition, Consumer Commission Locations: New York, California, America, Canada, Australian, Australia
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 27 (Reuters) - Australia's competition watchdog said on Monday new competition laws were required in response to the rapid expansion of digital platforms such as Amazon (AMZN.O), Apple (AAPL.O), Google (GOOGL.O), Meta (META.O) and Microsoft (MSFT.O) in the country. "Our proposed reforms include a call for targeted consumer protections and service-specific codes to prevent anti-competitive conduct by particular designated digital platforms," ACCC Chair Gina Cass-Gottlieb said. The aforementioned five digital platforms did not immediately respond to Reuters' request for a comment. The regulator has also proposed new mandatory obligations on all digital platforms to address scams, harmful apps, fake reviews, including notice and action requirements and stronger verification of business users and reviews. Must ensure competition laws are fit-for-purpose to respond to the potential challenges posed by emerging technologies such as generative AI and virtual reality, ACCC said.
Persons: Dado Ruvic, Gina Cass, Gottlieb, Ayushman Ojha, Sherry Jacob, Phillips, Tom Hogue Organizations: Facebook, REUTERS, Apple, Google, Microsoft, Australian Competition, Consumer Commission, Digital, ACCC, Reuters, Thomson
REUTERS/Jason Reed/File Photo Acquire Licensing RightsNov 13 (Reuters) - Australia's TPG Telecom Ltd (TPG.AX) said on Monday it had ended discussions with Macquarie-backed rival Vocus Group for the sale of some of its non-mobile fibre assets for about A$6.3 billion ($4.00 billion) as the parties failed to agree commercial terms. "The proposed transaction involved considerable complexity and, ultimately, the parties have been unable to reach alignment on the operating model and commercial terms," TPG Telecom said in a statement. In August, Vocus had made a non-binding offer to TPG Telecom to acquire certain Enterprise, Government and Wholesale (EGW) assets and associated fixed infrastructure assets, including wholesale broadband business Vision Network. The collapse of the fibre sale deal with Vocus is a second such setback for TPG Telecom, whose asset swap deal with bigger rival Telstra Group (TLS.AX) was blocked by the country's antitrust regulator and Australian Competition Tribunal. Under the asset swap deal, Telstra would have bought spectrum and transmission towers from TPG, while TPG would have kept selling 4G and 5G coverage using Telstra infrastructure.
Persons: Jason Reed, Vocus, Himanshi, Sandra Maler, Grant McCool Organizations: REUTERS, Australia's TPG Telecom Ltd, Vocus Group, TPG Telecom, Enterprise, Government, Wholesale, Vision Network, TPG, Vocus, Telstra Group, Australian Competition, Telstra, Thomson Locations: Sydney, Australia, Macquarie, Bengaluru
Qantas aircraft are seen on the tarmac at Melbourne International Airport in Melbourne, Australia, November 6, 2018. REUTERS/Phil Noble/File Photo Acquire Licensing RightsOct 30 (Reuters) - Qantas Airways Ltd (QAN.AX) on Monday said it will defend itself against Australia's competition regulator's accusations that the flagship carrier sold tickets to thousands of flights after they were after they were cancelled. Qantas said the Australian Competition and Consumer Commission's (ACCC) case, which accuses it of selling the tickets for flights for more than 48 hours after they were cancelled, does not constitute "fee for no service". "This is consistent with our obligations under consumer law and is what we did during the period the ACCC examined," Qantas said. Reporting by Sameer Manekar in Bengaluru; Editing by Grant McCoolOur Standards: The Thomson Reuters Trust Principles.
Persons: Phil Noble, Sameer Manekar, Grant McCool Organizations: Qantas, Melbourne International Airport, REUTERS, Qantas Airways Ltd, Australian Competition, Consumer Commission's, Australian Stock Exchange, Thomson Locations: Melbourne, Australia, Bengaluru
Qantas Airways QF100 flight, which marks the airline's 100th birthday, departs from Sydney Airport to fly over Sydney Harbour in Australia, November 16, 2020. Qantas shares fell 2.7% to A$4.7 in early trade, whereas Alliance shed around 1%. He added that Qantas is dealing with a brand crisis, a part of which is tied to perceptions that the company acts anti-competitively. Qantas is not the only airline that is aiming to expand charter service offerings with smaller peer Regional Express Holdings (REX.AX) buying charter operator National Jet Express in July 2022. ($1 = 1.5785 Australian dollars)Reporting by Rishav Chatterjee in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
Persons: Gregg Porteous, Tim Waterer, Kyle Rodda, Rishav Chatterjee, Shailesh Organizations: Qantas Airways QF100, Sydney Airport, Sydney Harbour, Handout, REUTERS, Qantas, Qantas Airways, Aviation Services, Australian Competition, Consumer Commission, Alliance, KCM Trade, Capital.com, Regional Express Holdings, National Jet Express, Thomson Locations: Australia, Bengaluru
A Qantas plane takes off from Kingsford Smith International Airport, following the coronavirus outbreak, in Sydney, Australia, March 18, 2020. REUTERS/Loren Elliott Acquire Licensing RightsCompanies Qantas Airways Ltd FollowSYDNEY, Oct 18 (Reuters) - Australia will ask its competition watchdog to monitor domestic passenger flights in a bid to boost competition in a sector dominated by national carrier Qantas, which is under scrutiny for alleged anti-competitive behaviour. The Australian Competition and Consumer Commission (ACCC) will monitor prices, costs and profits in the domestic air passenger sector, according to a joint statement from Treasurer Jim Chalmers and Transport Minister Catherine King on Wednesday. "A competitive airline industry helps to put downward pressure on prices and deliver more choice for Australians facing cost-of-living pressures," the statement said. "ACCC market scrutiny will help ensure airlines compete on their merits, bring to light any inappropriate market conduct should it occur, and provide continued transparency at a time when new and expanding airlines are still trying to establish themselves."
Persons: Loren Elliott, Jim Chalmers, Catherine King, Alan Joyce, Lewis Jackson, Muralikumar Organizations: Qantas, Kingsford Smith International, REUTERS, Rights Companies Qantas Airways Ltd, SYDNEY, Australian Competition, Consumer Commission, Transport, Qatar Airways, Thomson Locations: Sydney, Australia
"The landmark case reaffirms the importance of the continuous disclosure rules to maintain market integrity," the ASIC said in a statement on Friday. "The decision also confirms that a significant take-up of shares by underwriters in a capital raising may be considered price sensitive information requiring market disclosure." The maximum penalty under the court decision is A$1 million, ANZ said. The bank is reviewing the court judgement, it said, while the securities regulator said it would now make submissions on appropriate penalties. ($1 = 1.5838 Australian dollars)Reporting by Sameer Manekar in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
Persons: Steven Saphore, Sameer Manekar, Rashmi Organizations: New Zealand Banking Group, ANZ, REUTERS, Australia's ANZ, underwriters, Australian Securities and Investments Commission, Citigroup Inc, Deutsche Bank AG, Australian Competition, Consumer Commission, Thomson Locations: Australia, Sydney, Bengaluru
Australian Super, the largest investor, raised its stake to 14% last month and called the shares undervalued. Perpetual, a major Australian fund manager and Origin shareholder, has pushed Brookfield and its partner, U.S. private equity firm EIG, to consider raising their offer to win Origin, according to local media reports. Origin shares jumped to A$9.19 in early trading, well above the A$8.91 per share price of the consortium bid lodged in March, on speculation a higher offer could be forthcoming. Under the consortium deal, Origin will be broken up into two businesses, with its energy markets arm including its electricity generation and electricity and gas retail businesses to be acquired by Brookfield. Brookfield would also be prohibited from selling more than 10% of either Origin or AusNet in the future to one party.
Persons: Dado Ruvic, Max Vickerson, I'm, Vickerson, Newmont, Gina Cass, Gottlieb, Brookfield, Scott Murdoch, Jamie Freed 私 Organizations: Brookfield, REUTERS, SYDNEY, Origin Energy, Brookfield Corp, Australian Competition, Consumer Commission, stockbroker Morgans, Perpetual, Newcrest Mining, Energy, ACCC, AusNet Services Locations: Australian, Brookfield, Australia, Victoria
SYDNEY, Sept 29 (Reuters) - The blocking of three major deals by Australia's antitrust regulator in the past year was a coincidence, its chair told Reuters, pushing back against concerns among bankers that it has become deal-averse. "There happens to have been a sequence, frankly coincidentally as it turns out, of oppositions," ACCC Chair Gina Cass-Gottlieb said in an interview. There are some concerns that it could be blocked as Brookfield owns AusNet, a poles and wires asset in Victoria state. Cass-Gottlieb also said she doubted foreign investors have been dissuaded from pursuing deals in Australia which does not require companies to get formal clearance before proceeding with a takeover. "The recent stream of merger blockages will make foreign investors think twice."
Persons: Gina Cass, Gottlieb, Canada's Brookfield, Cass, Stephen Corones, Hannah Marshall, it's, Byron Kaye, Scott Murdoch, Edwina Gibbs Organizations: Australian Competition, Consumer Commission, Telstra, TPG, ANZ, Transurban, Origin Energy, Brookfield, FOCUS Cass, Investors, Queensland University of Technology, Cass, Marque Lawyers, Thomson Locations: Melbourne, AusNet, Victoria, Australia, Queensland
New Qantas CEO Vanessa Hudson apologized for the series of scandals involving the Australian airline. Hudson said regaining trust would "take time and I ask for your patience." "We have let you down in many ways and for that I am sorry," Vanessa Hudson said in a video posted to the company's social media accounts. "We understand we need to earn your trust back, not with what we say but what we do and how we behave. AdvertisementAdvertisementA message to customers from Qantas CEO, Vanessa Hudson.
Persons: Vanessa Hudson, Hudson, Alan Joyce, pSjMjXnybY, Joyce Organizations: Qantas, Service, Competition, Consumer Commission, Transport Workers, Union, Guardian Locations: Wall, Silicon
Alan Joyce, Chief Executive Officer of Qantas, speaks with members of the media at an event celebrating Qantas' 100th birthday at Sydney Airport in Sydney, Australia, November 16, 2020. Most of the amount was share-based incentives that Joyce was allowed to cash in after they vested, according to the report. It could also "claw back" unvested stock bonuses for Joyce, currently worth A$6 million, it said. Joyce's final pay packet encapsulates his decade and a half of running the company, which dominates Australian air travel. Qantas must return to the Federal Court to determine what it must pay in penalties and compensation to affected workers.
Persons: Alan Joyce, Loren Elliott, Joyce, Richard Goyder, disquiet, Alan, Goyder, Byron Kaye, Sameer Manekar, Rashmi Aich, Gerry Doyle Organizations: Qantas, Sydney Airport, REUTERS, Rights Companies Qantas Airways Ltd, Australia's Qantas Airways, Consumer Commission, High Court, Federal, Thomson Locations: Sydney, Australia, Bengaluru
Most of the amount was share-based incentives that Joyce was allowed to cash in after they vested, according to the report. The company was able to recall AU$8.4 million of share-based bonuses Joyce collected in the year but is not yet allowed to sell, the report added. It could also "claw back" unvested stock bonuses for Joyce, currently worth AU$6 million, it said. Joyce's final pay packet encapsulates his decade and a half of running the company, which dominates Australian air travel. Qantas must return to the Federal Court to determine what it must pay in penalties and compensation to affected workers.
Persons: Alan Joyce, Joyce, Richard Goyder, disquiet, Alan, Goyder Organizations: Qantas Airways, Qantas, Consumer Commission, High Court, Federal
CANBERRA, Australia (AP) — Qantas Airways lost its challenge to a court ruling on Wednesday that the Australian flag carrier had illegally fired 1,700 baggage handlers, cleaners and other ground staff at the height of pandemic travel disruptions. Seven High Court judges unanimously rejected Qantas’ appeal against a Federal Court full-bench decision. That court upheld a Federal Court judge’s ruling that the sacking of Qantas staff at 10 Australian airports in 2020 was illegal. Australian Competition and Consumer Commission initiated the Federal Court lawsuit two weeks ago for what it considers Australia’s most serious-ever breach of consumer law. As travel has ramped up, outsourcing of Qantas jobs has been blamed for a slew of problems including high rates of lost and mishandled luggage.
Persons: Alan Joyce, Michael Kaine, Kaine, Vanessa Hudson, ” Kaine Organizations: — Qantas Airways, Australian, Qantas, Federal, Competition, Consumer Commission, Court, Transport Workers ’ Union, Federal Court Locations: CANBERRA, Australia, Sydney
A view shows the Qatar Airways' airbus A350 parked outside Qatar Airways maintenance hangar in Doha, Qatar, June 20, 2022. REUTERS/Imad Creidi/File Photo Acquire Licensing RightsSYDNEY, Sept 7 (Reuters) - Australia said a strip-search of women at Qatar's main airport in 2020 played a part in its decision this year to stop Qatar Airways from selling more flights to Australia, denying it was acting due to pressure from rival Qantas Airways. The claim brings a new element to a controversy surrounding the Australian Labor government's relationship with Qantas (QAN.AX) which had lobbied against a Qatar Airways request to increase its flights. It was "nonsense" to suggest that adding more Qatar Airways flights would have put downward pressure on international fares, King added. Antitrust regulator the Australian Competition and Consumer Commission (ACCC) has said more Qatar Airways flights would have lowered fares.
Persons: Imad Creidi, Catherine King, King, Alan Joyce, Vanessa Hudson, Byron Kaye, Kirsty Needham, Michael Perry Organizations: Qatar Airways, airbus, REUTERS, Rights, Qantas Airways, Australian Labor, Qantas, Australian, Hamad International Airport, Antitrust, Australian Competition, Consumer Commission, ACCC, Thomson Locations: Doha, Qatar, Australia, Qatar's, Canberra
Qantas CEO’s exit will barely reduce turbulence
  + stars: | 2023-09-05 | by ( Antony Currie | ) www.reuters.com   time to read: +5 min
Alan Joyce, Chief Executive Officer of Qantas, speaks in front of a Qantas 747 jumbo jet, before its last departure from the Sydney Airport in Sydney, Australia, as Qantas retires its remaining Boeing 747 planes early due to the coronavirus disease (COVID-19) pandemic, July 22, 2020. In July Canberra rejected Qatar Airways’ request to add 21 flights a week to key Australian cities. Gina Cass-Gottlieb, the watchdog’s chair, is targeting a fine of at least A$250 million ($162 million), she told ABC’s RN radio programme. Qantas customers can now get a cash refund, while credits issued by the group’s budget airline, Jetstar, now last indefinitely. On Aug. 24 Qantas reported record pre-tax earnings for the year to June 30 of A$2.47 billion.
Persons: Alan Joyce, Loren Elliott, Vanessa Hudson, Gina Cass, Gottlieb, Hudson, Richard Goyder, Buckle, Joyce, , ABC’s, Una Galani, Katrina Hamlin Organizations: Qantas, Sydney Airport, Boeing, REUTERS, Rights, Reuters, Australian Competition, Consumer Commission, Virgin Australia, Regional Express, Qatar Airways, Jetstar, Thomson Locations: Sydney, Australia, Canberra
Qantas' CEO is stepping down from his role two months early and will receive a $24 million bonus. AdvertisementAdvertisementAlan Joyce, CEO of Australian national airline Qantas, is facing criticism for the $24 million golden goodbye he will receive after announcing that he is stepping down from his role early on Monday. "If the Board allows Mr Joyce to walk away with $24 million after illegally sacking 1,700 people, gouging customers and while subject to an ACCC prosecution, it will be the swindle of the century," Sheldon said. If Mr Joyce walks away with his $24 million, he will make their annual salary in less than 6 hours." AdvertisementAdvertisementJoyce earned $125 million over the 15 years he spent as Qantas' CEO and was even ranked the highest-paid CEO in Australia in 2018, Sky News Australia reported.
Persons: Alan Joyce, Joyce, Vanessa Hudson, Joyce's, Tony Sheldon, Mr Joyce, Sheldon, Michael Kaine Organizations: Qantas, Australian, Australian Competition, Consumer Commission, Australian Labor Party, Transport Worker's Union of Australia, Australian Aviation, Sky News Australia, Transport Workers Union, ABC, Australia's Federal Locations: Australia
[1/2] FILE PHOTO: A ground worker walking near a Qantas plane is seen from the international terminal at Sydney Airport in Australia, November 29, 2021. REUTERS/Loren Elliott/file photo/File Photo/File Photo Acquire Licensing RightsSept 4 (Reuters) - Australia's Qantas (QAN.AX) apologised for its service standards falling short and acknowledged it was suffering reputational damage, after the country's competition regulator sued it for allegedly selling tickets for thousands of cancelled flights. The regulator alleged that Qantas kept selling tickets for an average of 16 days after it had cancelled flights for reasons often within its control. Qantas clarified that its practice is that when a flight is cancelled, customers are offered an alternative flight close to the original departure time, or a refund. "The ACCC's allegations come at a time when Qantas' reputation has already been hit hard on several fronts.
Persons: Loren Elliott, Himanshi, Rashmi Organizations: Qantas, Sydney Airport, REUTERS, Australian Competition, Consumer Commission, Australia, Thomson Locations: Australia, Bengaluru
CANBERRA, Australia (AP) — The boss of Australian airline Qantas said Tuesday he would leave his job immediately — two months earlier than planned — following a series of embarrassing revelations about the company, including allegations it sold tickets for flights that had already been canceled. The airline said Vanessa Hudson would take over as managing director and group chief executive from Wednesday. The announcement came after a difficult few weeks for Qantas and Joyce. Qantas previously acknowledged its standards had fallen well short of expectations as the airline emerged from the COVID-19 pandemic. The airline has since come under pressure to pay back the AU$2.7 billion it received from the Australian government during the coronavirus pandemic.
Persons: Alan Joyce, Vanessa Hudson, Joyce, Qantas “, , Vanessa, Richard Goyder, “ Alan, ” Goyder, Hudson Organizations: Qantas, Australian Competition, Consumer Commission, Locations: CANBERRA, Australia
The maximum penalty Qantas faces is 10% of annual turnover, which was A$19.8 billion in the year to June, according to Australian consumer laws. Cass-Gottlieb said the ACCC would seek a fine for Qantas that was "significantly more than" the record A$125 million ($81 million) automaker Volkswagen was fined in 2019 for breaching Australian consumer laws. "We consider these penalties have been too low, we think the penalty should be in hundreds of millions, not tens of millions", she added. The regulator has said that Qantas kept selling tickets for an average of 16 days after it had cancelled flights for reasons often within its control. ($1 = 1.5420 Australian dollars)Reporting by Renju Jose in Sydney; editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.
Persons: Loren Elliott, Gina Cass, Gottlieb, Cass, Renju Jose, Miral Organizations: Qantas, Sydney Airport, REUTERS, Rights Companies Qantas Airways Ltd, Qantas Airways, Australian Competition, Consumer Commission, Australia, ABC Radio, Volkswagen, Thomson Locations: Australia, Sydney, Francisco
It's accusing Qantas of continuing to sell tickets for 8,000 flights that had been cancelled. And it's seeking a record-breaking fine in the hundreds of millions of dollars, per Reuters. AdvertisementAdvertisementQantas could be fined hundreds of millions of dollars for selling tickets for thousands of flights that had already been cancelled if regulators get their way, Reuters reported. AdvertisementAdvertisementThat amounts to 70% of cancelled Qantas flights where tickets were still sold or ticket holders weren't told for at least two days after the cancelation, the regulator said. "We think the penalty should be in hundreds of millions, not tens of millions", she added, per Reuters.
Persons: weren't, Gina Cass, Gottlieb Organizations: Australian, Qantas, Morning, Reuters, Australian Competition, Consumer Commission, ACCC, Cass, Volkswagen
Total: 25