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Commerce Commission - Latest News [Page 3]
Kiwis Likely Losing “Tens Of Millions Of Dollars A Year” From Supermarket Pricing Errors
Thursday, 15 August 2024, 6:29 pm | Commerce Commission
Mr van Heerden says the responsibility for fixing the issues sits squarely with the senior management of Foodstuffs and Woolworths NZ, and the Commission had sought a commitment from the Chief Executives of each of the three companies. More >>
Telco Report And New Interactive Map Show Competition Heating Up In Rural Broadband
Thursday, 15 August 2024, 8:43 am | Commerce Commission
The Commerce Commission’s latest Annual Telecommunications Monitoring Report released today highlights an increasingly competitive broadband market in rural New Zealand – illustrated by a new interactive map revealing detailed coverage and connection ... More >>
Foodstuffs North Island Hit With $3.25m Fine For Blocking Rivals
Thursday, 8 August 2024, 2:15 pm | Commerce Commission
Commission Chair, John Small, says the $3.25m penalty imposed by the Wellington High Court – the largest to date under section 28 of the Commerce Act - reflects the seriousness of the conduct and the reason the Commission pursued the court action More >>
ComCom Testing If Supply Code ‘Rule Book’ Is Helping Fix Power Imbalance In Groceries
Thursday, 1 August 2024, 8:55 am | Commerce Commission
New Zealand’s Grocery Commissioner is launching a review of the new Grocery Supply Code to see if it’s helping fix the ongoing power imbalance between suppliers and the major supermarkets. More >>
ComCom Sees Potential For Over $250m Reduction In Payment Fees For New Zealanders
Tuesday, 23 July 2024, 8:56 am | Commerce Commission
The Commerce Commission is consulting on the potential to reduce hundreds of millions of dollars a year in costs to New Zealanders using the Mastercard and Visa payment networks – affecting nearly all consumers and businesses. More >>
ComCom Issues Draft Decision On Revenue Limits And Quality Standards For Chorus
Thursday, 18 July 2024, 9:09 am | Commerce Commission
The Commerce Commission has published its draft decision to set Chorus’ maximum allowable revenue at $3.3 billion for the period from 1 January 2025 to 31 December 2028. More >>
Commission Declines Clearance For AlphaTheta’s Proposed Acquisition Of Serato
Thursday, 18 July 2024, 8:49 am | Commerce Commission
The Commerce Commission has declined to give clearance to AlphaTheta Corporation (AlphaTheta) to acquire Serato Audio Research Limited (Serato). More >>
Commission Says Auckland Airport Charges Are Too High
Wednesday, 17 July 2024, 8:55 am | Commerce Commission
In reviewing the Airport’s pricing decisions for the five-year period running from 1 July 2022 to 30 June 2027, Commissioner Vhari McWha says the Commission considered whether the Airport’s pricing decisions and expected performance are likely to ... More >>
Statement Of Unresolved Issues Released For Proposed Foodstuffs Merger
Tuesday, 16 July 2024, 3:06 pm | Commerce Commission
The Commission is seeking submissions from Foodstuffs North Island, Foodstuffs South Island and other interested parties on the issues raised in the Statement of Unresolved Issues. More >>
ComCom Hits The Gas On Car Loans With Third Lender In Court
Wednesday, 10 July 2024, 10:19 am | Commerce Commission
The Commerce Commission is progressing criminal proceedings in the District Court against El Cheapo Cars (trading as Ezybid Finance) in its third action in the car finance sector this year – alleging borrowers were not provided key information ... More >>
Penalties Imposed In Relation To Longstanding Commercial Cleaning Cartel
Tuesday, 2 July 2024, 9:34 am | Commerce Commission
The Christchurch High Court has imposed penalties against cleaning company Canterbury Industrial Scrubbing Limited (CI Scrubbing) for longstanding cartel agreements with a competitor following a Commerce Commission investigation. More >>
Commission Issues Draft Determination On Payments New Zealand’s Application To Further Develop Open Banking Framework
Monday, 1 July 2024, 2:23 pm | Commerce Commission
The Commission considers that, subject to the proposed conditions, the potential benefits of the Proposed Arrangement are likely to outweigh the potential detriments. More >>
Pyramid Scheme Promoter Ordered To Pay $5.9m In Record Fair Trading Act Case
Wednesday, 26 June 2024, 8:49 am | Commerce Commission
Shelly Cullen has been ordered by the Auckland District Court to pay $5.9m for her promotion of the pyramid scheme ‘Lion’s Share.’ More >>
ComCom Clocks 5G Wireless Speeds For The First Time
Tuesday, 25 June 2024, 8:38 am | Commerce Commission
The Commerce Commission has released its latest broadband monitoring report which shows, for the first time, performance results for Spark’s 5G wireless broadband service. More >>
Commission To Issue Statement Of Unresolved Issues On Proposed Foodstuffs Merger
Friday, 21 June 2024, 10:11 am | Commerce Commission
The Commerce Commission has decided to issue a Statement of Unresolved Issues for the application from Foodstuffs North Island Limited and Foodstuffs South Island Limited seeking clearance to merge. More >>
ComCom Files Proceedings Against Foodstuffs North Island For Blocking Rivals
Wednesday, 19 June 2024, 8:48 am | Commerce Commission
The Commerce Commission has filed proceedings in the Wellington High Court against Foodstuffs North Island, alleging that anti-competitive land covenants were lodged by the supermarket operator with the purpose of blocking competitors from opening ... More >>
Kiwibank Face Criminal Charges Following Issues That Cause Over $7m In Overcharges
Tuesday, 11 June 2024, 11:42 am | Commerce Commission
The Commerce Commission has filed criminal charges against Kiwibank Limited (Kiwibank), alleging systemic breaches of the Fair Trading Act. More >>
Delay In Dropping Petrol Prices Costing Kiwi Motorists $15m A Year At The Pump
Tuesday, 11 June 2024, 10:15 am | Commerce Commission
The Commerce Commission’s latest analysis of fuel monitoring data shows retailers are quick to put fuel prices up in response to increased costs, but slower to bring prices down when global oil prices fall or exchange rate changes reduce costs. More >>
Statement Of Unresolved Issues Released For AlphaTheta’s Proposed Acquisition Of Serato
Wednesday, 29 May 2024, 6:58 pm | Commerce Commission
The Statement of Unresolved Issues outlines the Commission’s provisional competition concerns with the proposed acquisition. The Statement of Unresolved Issues is not a final decision and does not mean that the Commission intends to decline or clear ... More >>
Commission Balances Necessary Investment In Electricity Networks Against Rising Consumer Prices
Wednesday, 29 May 2024, 9:34 am | Commerce Commission
The Commission is seeking feedback on its draft decisions which, if finalised, would mean approximately $15 extra per month on the average residential customer's electricity bill for the first year of the regulatory period, from 1 April 2025. More >>
