CONSUMER PROTECTION – GOVERNMENT POLICY – AUSTRALIA

Labor vows to force banks to compensate Australians tricked out of money by scammers

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Original article by Karen Middleton
The Guardian Australia – Page: Online : 31-Jul-24

The federal government intends to pursue further reforms aimed at protecting consumers from scams. Assistant treasurer Stephen Jones will note in a National Press Club on Wednesday that the government’s crackdown helped to reduce losses from scams to $2.74bn in 2023, compared with $3bn in 2022. Jones will add that losses due to social media-based scams rose by 17 per cent in 2023, and he will argue that the ‘social licence’ of digital platforms requires them to do more to protect their users from fraudsters. Jones will also flag reforms that will require banks to compensate customers for losses incurred due to scams.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, NATIONAL PRESS CLUB (AUSTRALIA)

Scale of Qantas turnaround catches Joyce by surprise

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Original article by Steve Creedy
The Australian – Page: 20 : 10-Dec-14

Alan Joyce, CEO of Qantas Airways, admits that he and his management team had not expected their cost-cutting strategy to bear fruit so rapidly. He has been able to forecast a 2014-15 interim underlying profit pre-tax of up to $A350m, after the previous loss. The carrier’s stock on 9 December closed $A0.01 lower at $A2.38, but had gained nearly 14% the day before when the news was released. Meanwhile independent senator Nick Xenophon wants the Australian Competition & Consumer Commission to look into whether Qantas’s refusal to lower its fuel surcharge despite a falling crude oil price constitutes misleading and deceptive conduct

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, BOEING COMPANY, CITIGROUP PTY LTD, AIRBUS SAS, NICK XENOPHON GROUP

Scale of Qantas turnaround catches Joyce by surprise

roymorgansocial Leave a comment

Original article by Steve Creedy
The Australian – Page: 20 : 10-Dec-14

Alan Joyce, CEO of Qantas Airways, admits that he and his management team had not expected their cost-cutting strategy to bear fruit so rapidly. He has been able to forecast a 2014-15 interim underlying profit pre-tax of up to $A350m, after the previous loss. The carrier’s stock on 9 December closed $A0.01 lower at $A2.38, but had gained nearly 14% the day before when the news was released. Meanwhile independent senator Nick Xenophon wants the Australian Competition & Consumer Commission to look into whether Qantas’s refusal to lower its fuel surcharge despite a falling crude oil price constitutes misleading and deceptive conduct

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, BOEING COMPANY, CITIGROUP PTY LTD, AIRBUS SAS, NICK XENOPHON GROUP