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Commerce Commission - Latest News [Page 31]
Statement Of Issues Released For Mylan N.V./Upjohn Inc. Clearance Application
Friday, 27 March 2020, 4:04 pm | Commerce Commission
The Commerce Commission has published a Statement of Issues relating to an application from Mylan N.V. (Mylan) and Upjohn Inc. (Upjohn) seeking clearance to merge their global pharmaceutical businesses. The Statement of Issues outlines the Commission’s ... More >>
Aurora Energy Penalised Almost $5 Million For Excessive Level Of Power Outages
Tuesday, 24 March 2020, 4:36 pm | Commerce Commission
Dunedin-based lines company Aurora Energy (Aurora) has been ordered by the High Court at Wellington to pay a penalty of almost $5 million for contravening its network quality standards through an excessive level of power outages in the 2016-19 years. ... More >>
Commerce Commission Approach To Essential Goods And Services Business Cooperation
Sunday, 22 March 2020, 5:05 pm | Commerce Commission
The Commerce Commission welcomes the Government’s Policy Statement today in relation to maintaining confidence in the market for essential goods and services such as grocery products. Chair Anna Rawlings said following the Government’s announcement, ... More >>
Annual Telecommunications Monitoring Report Shows Fibre Broadband Overtakes Copper
Thursday, 12 March 2020, 9:39 am | Commerce Commission
The Commerce Commission has released its Annual Telecommunications Monitoring Report highlighting trends in the industry, including that fibre has overtaken copper as the main way Kiwi households access the internet from home. The report shows that ... More >>
Feedback Wanted On Draft Protections For Consumers Who Rely On Home Phones To Contact 111
Wednesday, 11 March 2020, 9:10 am | Commerce Commission
The Commerce Commission is seeking feedback on a code to protect consumers who are at particular risk of needing to contact emergency services and only have access to a home phone to do so. The 111 contact code has been drafted to support home phone ... More >>
HSBC Warned Over Disclosure Failures
Tuesday, 10 March 2020, 10:00 am | Commerce Commission
The Commerce Commission has issued a warning to The Hongkong and Shanghai Banking Corporation Limited (HSBC) over its failure to comply with the information disclosure requirements of the Credit Contracts and Consumer Finance Act 2003 (CCCFA). HSBC ... More >>
Commission Grants Clearance For Juice Technologies To Acquire APT
Thursday, 5 March 2020, 2:58 pm | Commerce Commission
The Commerce Commission has granted clearance for Juice Technologies Pty Limited (operating in New Zealand as Infocare Systems Limited) to acquire APT Business Solutions Limited (trading as APT Childcare). In reaching its decision, the Commission considered ... More >>
Viagogo Confirms Website Changes And Accepts Jurisdiction Of NZ Courts
Thursday, 5 March 2020, 2:15 pm | Commerce Commission
The Commerce Commission will no longer seek an interim injunction against online event ticket seller Viagogo, after Viagogo made changes to its website and gave undertakings to the Court that it would not undo those changes. Viagogo has also now submitted ... More >>
Proposal To Amend Powerco And Wellington Electricity’s Customised Price-quality Paths
Thursday, 5 March 2020, 9:16 am | Commerce Commission
The Commerce Commission is proposing to amend the 2018 customised price-quality paths (CPPs) for electricity lines companies Powerco and Wellington Electricity so their cost of capital is aligned with the rest of the country’s regulated electricity ... More >>
Contact Energy Fined $245,000 For Misleading Fuel Discount Promotion
Wednesday, 4 March 2020, 5:08 pm | Commerce Commission
Energy retail company Contact Energy Limited has been fined $245,000 in the Wellington District Court for misleading customers in an advertising promotion. Contact pleaded guilty and was convicted on seven charges under the Fair Trading Act 1986 relating ... More >>
Commission Welcomes High Court Judgment In Dairy Judicial Review
Wednesday, 4 March 2020, 4:59 pm | Commerce Commission
The Commerce Commission has welcomed a High Court judgment, published today, which dismisses a judicial review challenge by Open Country Dairy Limited (OCD) to the Commission’s report into Fonterra’s base milk price calculation for 2017/18. ... More >>
Draft Guidance Released On Commission’s Approach To Unbundled Fibre
Wednesday, 4 March 2020, 9:31 am | Commerce Commission
The Commerce Commission Has Released Draft Guidance To Help The Telecommunications Industry Understand Its Approach To Monitoring And Enforcing Obligations On Chorus And The Other Local Fibre Companies (LFCs) To Allow Retailers Access To Unbundled ... More >>
Commission Obtains A Further $29.4 Million For ANZ Customers After Responsible Lending Breach
Monday, 2 March 2020, 1:22 pm | Commerce Commission
ANZ Bank New Zealand Limited (ANZ) has signed a settlement agreement with the Commerce Commission admitting a breach of its responsible lending obligations, and has also agreed to pay customers a further $29.4 million. In the Commission’s first completed ... More >>
Statement Of Preliminary Issues Released For T&G Application To Acquire Freshmax
Friday, 21 February 2020, 9:44 am | Commerce Commission
The Commerce Commission has published a statement of preliminary issues relating to an application from Turners & Growers Fresh Limited to acquire 100% of the shares in Freshmax NZ Limited. The statement outlines the key competition issues ... More >>
Elanco’s Application To Acquire Bayer’s Animal Health Business
Thursday, 20 February 2020, 3:14 pm | Commerce Commission
The Commerce Commission has published a statement of preliminary issues relating to an application from Elanco to acquire Bayer AG’s animal health business in New Zealand. The statement outlines the key competition issues that the Commission considers ... More >>
More Toy Safety Fines And Prosecutions
Thursday, 20 February 2020, 11:09 am | Commerce Commission
Another toy supply company has been fined for supplying unsafe toys and four more companies are before the Courts on toy safety charges following Commerce Commission investigations. Cinevan International Limited was fined $81,000 in the Auckland District ... More >>
Commission Seeking Feedback On ‘fit And Proper’ Criteria
Thursday, 20 February 2020, 10:01 am | Commerce Commission
The Commerce Commission is seeking feedback on the proposed criteria it will use to assess whether a lender is ‘fit and proper’ as part of a new certification regime being introduced under changes to the Credit Contracts and Consumer Finance ... More >>
Budget Loans’ Allan And Wayne Hawkins Banned From Company Management
Wednesday, 19 February 2020, 3:23 pm | Commerce Commission
Management banning orders have been issued against father-and-son Allan and Wayne Hawkins, following an application by the Commerce Commission. The Commission sought the bans under s46C of the Fair Trading Act 1986 (FT Act) following the pair’s ... More >>
Elanco Seeks Clearance To Acquire Bayer's Animal Health Business
Friday, 14 February 2020, 1:42 pm | Commerce Commission
The Commerce Commission has received a clearance application from Elanco Animal Health Inc. seeking clearance to acquire Bayer AG’s animal health business. Elanco is a US-based global animal healthcare company that develops, manufactures and distributes ... More >>
Vodafone Warned For Failing To Apply Credits And Likely Misleading Customers
Thursday, 13 February 2020, 2:13 pm | Commerce Commission
Vodafone New Zealand has been warned by the Commerce Commission for misleading consumers about account credits. Vodafone has also been warned for representations made in a loyalty discount promotion that were likely misleading. Despite telling customers, ... More >>
