COMPETITION

James Murdoch told to save pay TV

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Original article by Tony Boyd
The Australian Financial Review – Page: 56/51 : 6-Aug-15

Streaming video-on-demand provider Netflix poses a serious competitive threat to pay-TV. Sanford C Bernstein analyst Todd Juenger writes in a note to institutional investors that viewers will abandon pay-TV if a new business model is not found. The note is titled "Open Letter to Mr Murdoch" because Juenger believes that 21st Century Fox CEO James Murdoch is the right person to tackle the problem.

CORPORATES
SANFORD C BERNSTEIN AND COMPANY, 21ST CENTURY FOX INCORPORATED, NETFLIX INCORPORATED, FOXTEL MANAGEMENT PTY LTD, TIME WARNER COMMUNICATIONS INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Worst competition ranking in 18 years

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Original article by Jacob Greber
The Australian Financial Review – Page: 10 : 28-May-15

The latest IMD World Competitiveness Yearbook rates Australia in 18th position in terms of its global competitiveness. The nation was ranked 17th in 2014, but it has been overtaken by New Zealand, which has moved from 20th place to 17th. Australia has also lost ground in the global rankings on the measures of infrastructure, economic performance, international investment and efficiency of government.

CORPORATES
INTERNATIONAL INSTITUTE FOR MANAGEMENT DEVELOPMENT, INFRASTRUCTURE AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA

Wesfarmers criticises ‘effects test’

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Original article by Julie-Anne Sprague
The Australian Financial Review – Page: 10 : 2-Apr-15

The final report of the Harper review of competition law has recommended strengthening existing laws on the misuse of market power. However, retail giants Woolworths and Wesfarmers do not support the introduction of a so-called "effects test", and Wesfarmers CEO Richard Goyder believes that it may in fact adversely affect consumers. An effects test has the support of National Farmers’ Federation CEO Simon Talbot

CORPORATES
WESFARMERS LIMITED – ASX WES, WOOLWORTHS LIMITED – ASX WOW, NATIONAL FARMERS’ FEDERATION LIMITED, AUSTRALIAN LABOR PARTY, COLES GROUP LIMITED

BHP Billiton denies US anti-dumping charge

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Original article by John Kehoe
The Australian Financial Review – Page: 15 : 23-Mar-15

The Tasmanian Electro Metallurgical Company subsidiary of BHP Billiton has been accused of importing low-cost silicomanganese into the US. The dumping allegation has been made by US-based Felman Production, which claims that the practice has had a "devastating impact" on the US market. BHP’s submission to the US International Trade Commission argues that the inefficiency of US producers is the main problem facing the sector

CORPORATES
BHP BILLITON LIMITED – ASX BHP, TASMANIAN ELECTRO METALLURGICAL COMPANY PTY LTD, UNITED STATES. INTERNATIONAL TRADE COMMISSION, FELMAN PRODUCTION LLC, SOUTH32 LIMITED, UNITED STATES. DEPT OF COMMERCE, DEUTSCHE BANK AG, GRANGE RESOURCES LIMITED – ASX GRR

Medcraft warns of collusion probes

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Original article by Leo Shanahan
The Australian – Page: 23 : 27-Nov-14

Civil as well as criminal charges are possible against ANZ Bank, over its role in alleged attempts by major banks to fix the bank bill swap rate. The Australian Securities & Investments Commission (ASIC) is investigating, and ANZ has suspended seven traders on full pay pending the outcome. ASIC chair Greg Medcraft argues that the problem is a global one and indicative of an ingrained culture across the banking sector. A probe into the claims of collusion has also been launched by the Australian Competition & Consumer Commission

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, HARVARD UNIVERSITY, BLOOMBERG LP

Traders benched in rates fix probe

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Original article by Richard Gluyas
The Australian – Page: 1 : 20-Nov-14

The Australian Securities & Investments Commission (ASIC) is continuing its investigation of banks and investment banks that allegedly colluded to manipulate the bank bill swap rate via the Australian Financial Markets Association. BNP Paribas, UBS and Royal Bank of Scotland have already incurred penalties, and ANZ Banking has now stood aside seven market trading staff on full pay due to the ASIC inquiry. ANZ chief risk officer Nigel Williams says the bank is co-operating fully with the watchdog

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN FINANCIAL MARKETS ASSOCIATION INCORPORATED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, UBS AG, ROYAL BANK OF SCOTLAND GROUP PLC, BNP PARIBAS SA

Goyder defends Coles’s conduct amid strong sales

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Original article by Paul Garvey
The Australian – Page: 21 : 31-Oct-14

The total turnover of retailer Coles during the September 2014 quarter grew 4% to reach $A9.2bn. Across the individual units of the Wesfarmers-owned group, sales at Bunnings were up 11%, those at Officeworks 8% and Kmart 2.9%. At the results presentation on 30 October 2014, Wesfarmers CEO Richard Goyder rejected claims by the Australian Competition & Consumer Commission that Coles supermarkets were guilty of "unconscionable conduct" by pressuring grocery suppliers into making financial contributions

CORPORATES
WESFARMERS LIMITED – ASX WES, COLES GROUP LIMITED, WESFARMERS BUNNINGS LIMITED, OFFICEWORKS SUPERSTORES PTY LTD, KMART AUSTRALIA LIMITED, TARGET AUSTRALIA PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, ZARA, INDITEX SA, TOPSHOP, ARCADIA GROUP PLC, HENNES OCH MAURITZ AB

Coles was ‘entitled’ to payments

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Original article by Eli Greenblat
The Australian – Page: 17 : 20-Oct-14

Ian McLeod, CEO of the Coles retailing arm of Wesfarmers for six years until mid-2014, has rejected allegations by the Australian Competition & Consumer Commission (ACCC). The watchdog claims that the supermarkets chain in 2010 acted unconscionably, when it demanded suppliers bear the cost of wastage as well as make payments so that Coles could reach its profit goals. McLeod says no unethical practices were engaged in during the group’s relationships with grocery companies. The ACCC court action names five suppliers as having been affected

CORPORATES
WESFARMERS LIMITED – ASX WES, COLES GROUP LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, DEUTSCHE BANK AG