Commerce Commission - Latest News [Page 1]

Commission revises draft Telecommunications Development Levy

Thursday, 24 April 2014, 9:11 am | Commerce Commission

Issued 24 April 2014 Release No. 98 The Commerce Commission today released a revised draft determination for the amount 22 telecommunications providers will pay towards the $50 million Telecommunications Development Levy (TDL) for 2012/13. More >>

Commission urges businesses to know Easter laws

Wednesday, 16 April 2014, 3:56 pm | Commerce Commission

Easter Saturday and Sunday are not public holidays, casual staff may not be covered under the Holidays Act and businesses must not mislead customers when applying a surcharge. More >>

Issues for Atlas Copco’s application to acquire Ash Air

Wednesday, 16 April 2014, 1:05 pm | Commerce Commission

The Commerce Commission has published a statement of preliminary issues relating to an application from Atlas Copco South Pacific Holdings Pty Limited (Atlas Copco) seeking clearance to acquire some of the assets of Lancaster Group Limited including ... More >>

BlueScope Steel to buy production assets of Pacific Steel

Wednesday, 16 April 2014, 12:49 pm | Commerce Commission

The Commerce Commission has granted clearance to BlueScope Steel (NZ) Limited to acquire Pacific Steel Group’s rolling mill and wire mill manufacturing operations in Auckland and its New Zealand long steel distribution, marketing and sales operations ... More >>

Air freight cartel nets almost $12 million in penalties

Tuesday, 8 April 2014, 4:26 pm | Commerce Commission

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 ... More >>

Commission completes long running trans-Tasman cartel case

Tuesday, 8 April 2014, 12:49 pm | Commerce Commission

The Commerce Commission has completed its long running case involving the cardboard packaging cartel between Visy Board Pty Ltd (Visy) and Amcor Ltd with the final defendant, Mr James Hodgson, being ordered to pay a penalty of $60,000 and costs of $38,352 ... More >>

Commission welcomes High Court judgement over UBA challenge

Tuesday, 8 April 2014, 12:48 pm | Commerce Commission

The Commerce Commission welcomes today’s High Court judgment in relation to Chorus’ appeal against the Commission’s November 2013 decision setting cost-based prices for the unbundled bitstream access (UBA) service. More >>

Commerce Commission confirms forex investigation

Monday, 7 April 2014, 9:29 am | Commerce Commission

The Commerce Commission has confirmed that it has an investigation into possible manipulation of currency rates and possible influencing of benchmarks in foreign exchange (forex) markets. The investigation was commenced as a result of a leniency ... More >>

Atlas Copco seeks clearance to acquire Ash Air

Wednesday, 2 April 2014, 4:25 pm | Commerce Commission

The Commerce Commission has received an application from Atlas Copco South Pacific Holdings Pty Limited (Atlas Copco) seeking clearance to acquire some of the assets of Lancaster Group Limited including Ash Air (N.Z) Limited, Ash Air Oil & Gas Limited, ... More >>

Interest rate swaps – further information being assessed

Wednesday, 2 April 2014, 4:01 pm | Commerce Commission

The Commerce Commission has announced that it is currently assessing new information received concerning the banks involved in the interest rate swaps investigation. More >>

Vehicle finance company fined for ‘vehicle-go-round'

Tuesday, 1 April 2014, 12:57 pm | Commerce Commission

Mt Maunganui finance company MAC Warranties Ltd (MAC) has today been fined $42,250 in the Auckland District Court for 17 breaches of the Fair Trading Act (FTA). MAC’s director and shareholder Alan Spiers has been fined $22,750 for a further 11 breaches. More >>

Commerce Commission and FMA sign MOU

Tuesday, 1 April 2014, 9:13 am | Commerce Commission

The Commerce Commission has signed a Memorandum of Understanding (MOU) with the Financial Markets Authority (FMA) in advance of the commencement of key parts of the Financial Markets Conduct Act 2013. From today the FMA is the primary regulator of misleading ... More >>

Commission to begin further work on WACC input methodologies

Monday, 31 March 2014, 11:32 am | Commerce Commission

Following recent stakeholder consultation, the Commerce Commission has decided to issue a notice of intention to do further work on the input methodologies relating to the percentile estimate of the weighted average cost of capital (WACC). The WACC ... More >>

Draft decision on Transpower’s line upgrade released

Thursday, 27 March 2014, 9:15 am | Commerce Commission

The Commerce Commission has today released its draft decision to approve Transpower’s proposed line upgrade between its Bunnythorpe substation near Palmerston North and Haywards substation in the Hutt Valley. More >>

Carter Holt Harvey fined for “classic” price fixing breaches

Wednesday, 26 March 2014, 3:27 pm | Commerce Commission

Commerce Commission General Manager Competition, Kate Morrison says the High Court’s decision to fine Carter Holt Harvey $1.85 million for price fixing in the Auckland commercial timber market highlights the potential impact of price fixing on consumers. More >>

Consultation on cost of capital for telecommunication price

Friday, 7 March 2014, 9:22 am | Commerce Commission

The Commerce Commission is seeking submissions on its proposed approach to setting the rate of return on capital for the unbundled copper local loop (UCLL) network and the unbundled bitstream access (UBA) service. More >>

New Zealand mobile phone plans rate well across OECD

Thursday, 6 March 2014, 11:50 am | Commerce Commission

The Commission has today released a report comparing prices for mobile services in New Zealand over the last year with prices in other OECD countries. "Prices have been steadily dropping and popular plans are below OECD averages," said ... More >>

New information disclosure requirements for Transpower

Friday, 28 February 2014, 3:18 pm | Commerce Commission

The Commerce Commission has today issued information disclosure requirements for Transpower, the owner and operator of the national electricity transmission grid. More >>

Bluescope Steel seeks clearance to acquire certain assets

Monday, 24 February 2014, 11:24 am | Commerce Commission

The Commerce Commission has received an application from Bluescope Steel (NZ) Ltd (Bluescope) seeking clearance to acquire some of the assets of Pacific Steel Group’s (PSG) steel production business. More >>

Commission issues penny-auction website warning - 'DealSave'

Friday, 21 February 2014, 11:55 am | Commerce Commission

The Commerce Commission is warning consumers to be aware of the penny-auction website ‘DealSave’ (www.mydealsave.com), as it has concerns about the site which runs auctions for electronic items such as cameras, tablets, phones and televisions. Consumers ... More >>

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