Kiwibank faces criminal charges following issues that caused over $7m in overcharges
The Commerce Commission has filed criminal charges against Kiwibank Limited (Kiwibank), alleging systemic breaches of the Fair Trading Act. The breaches relate to issues that resulted in more than $7 million being incorrectly charged to over 36,000 customers for fees and interest rates in relation to home loans, credit cards and overdrafts, over a period of several years.
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Delay in dropping petrol prices costing Kiwi motorists $15m a year at the pump
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.
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Commission balances necessary investment in electricity networks against rising consumer prices
The Commerce Commission has today announced draft decisions to allow increased revenue limits for national grid owner Transpower and local lines companies to help pay for necessary investment in the country’s electricity network.
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Statement of Unresolved Issues released for AlphaTheta’s proposed acquisition of Serato
The Commerce Commission has published a Statement of Unresolved Issues on AlphaTheta’s application for clearance to acquire Serato.
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ComCom warns Bluebridge over ferry cancellation and delay representations
After receiving customer complaints, the Commerce Commission has issued a warning to Cook Straight ferry provider StraitNZ Bluebridge Limited, for potentially misrepresenting consumers rights to compensation when sailings were delayed or cancelled during 2023.
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Crackerjack sentencing a red flag for parents as winter sets in
The Commerce Commission says the sentencing of a New Zealand retailer for breaching fire hazard labelling requirements should be a red flag for parents buying children’s nightwear this winter.
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Commission extends timeline for Foodstuffs merger application
The Commerce Commission has agreed to an extension of time to consider the Foodstuffs merger application with the parties. A decision from the Commission, whether to clear the application or issue a Statement of Unresolved Issues, is now due on 21 June 2024.
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Statement of Preliminary Issues released for Evergreen’s application to acquire ACMNZ
The Commerce Commission has published a statement of preliminary issues relating to an application from Evergreen NZ Holdings (Evergreen) seeking clearance or authorisation to acquire 100% of the shares in ACM New Zealand Limited (ACMNZ) from ACM Holdings (NZ) Limited (ACM).
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2degrees 'free Aussie business roaming' claims not fair dinkum, ComCom says
The Commerce Commission has filed eight charges under the Fair Trading Act against Two Degrees Mobile Limited (2degrees) for alleged misleading claims about their ‘free Aussie roaming’ for business mobile plans.
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Commission grants clearance for One NZ to acquire Dense Air
The Commerce Commission has granted clearance for One New Zealand Group Limited to acquire 100% of the shares in Dense Air New Zealand Limited from Dense Air Limited and SoftBank Corp.
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