Australian consumers can gain access to their banking data from Wednesday, July 1, to potentially save money on the cost of financial services with the phased launch of the Consumer Data Right. All four major banks are required to share a customer’s data, when they request it. The reform gives fintechs the potential to find… Read more »
The Coalition government’s signature NBN strategy is causing the biggest problems for users, the ACCC finds
Fibre-to-the-node (FTTN), the key broadband delivery method instigated by former communications minister Malcolm Turnbull in the Coalition government’s NBN policy, is failing to deliver for around a quarter of users, the latest review of broadband speeds by consumer watchdog the ACCC has found. The latest Measuring Broadband Australia report – the eight by the Australian… Read more »
The hunger for streaming services such as Stan and Netflix has seen the amount of data downloaded by Australians jump by nearly 50% in 12 months, the latest ACCC Communications Market Report for 2018-19 has found. And for the first time, the amount of time we spent talking on our phones fell as people… Read more »
Competition watchdog the ACCC has pushed out timelines for the implementation and launch of some aspects of the Consumer Data Right (CDR), known as open banking from February until July 1, 2020, as it continues to look at testing for data privacy and security. Banking is the first sector to to address CDR, which… Read more »
On Thursday the federal government responded to the recommendations of the Australian Competition and Consumer Commission’s (ACCC) “world-leading” Digital Platforms Inquiry. The response, however, is a less-than world-leading roadmap for reform. Few dispute the ACCC’s inquiry was ground breaking, as it held to account tech giants including Google and Facebook, and the power they wield… Read more »
Image: Jurassic World, Universal Pictures/Amblin Entertainment The Morrison government’s response to the ACCC’s concerns about the market power of Google and Facebook include $27m to the competition watchdog to boost monitoring and enforcement against the tech giants A voluntary code of practice, overseen by the ACCC, to address bargaining power imbalances between the tech companies… Read more »
The growing power of Facebook, Google and other tech companies as they swallow smaller rivals has Australia’s competition watchdog, the ACCC, worried about the threat to consumer data and privacy. Speaking at the Consumer Policy Research Conference Conference in Melbourne today, Australian Consumer and Competition Commission chair Rod Sims said Google and Facebook “are essentially… Read more »
Google is being taken to court by the Australian Competition and Consumer Commission (ACCC), which has accused the global tech giant of misleading consumers about its use of their personal location data. It’s believed to be the first legal action in the world on the issue as tech companies comes under increased scrutiny by… Read more »
StartupAus CEO Alex McCauley. Photo: supplied StartupAUS is concerned about the damage last week’s ACCC report into digital platforms could cause to the startup sector if the competition watchdog’s views on mergers and acquisitions are implemented. The landmark inquiry and its 620-page report, which focused in part on the power of Facebook and Google, raised concerns… Read more »
Australia’s consumer watchdog wants to lift the carpet on some of the world’s biggest and most powerful tech companies, especially Facebook and Google, to see how their greatest trade secrets work in sweeping changes to check their power in the nation’s digital economy. The final report of the landmark Australian Competition and Consumer Commission… Read more »
The Kogan.com promotion the ACCC alleges was misleading. Internet entrepreneur Ruslan Kogan’s online retail empire has fallen foul of consumer watchdog the ACCC (Australian Competition and Consumer Commission), which is suing the business over false or misleading conduct claims, alleging Kogan increased prices ahead of a discount sale. The ACCC has launched Federal Court action… Read more »
Google and Facebook perform a “critical role” in enabling businesses to reach consumers, however the way their algorithms work to order content is unclear, according to the ACCC.
Victorian startup Energy Locals has raised $2 million in funding from NSW renewable energy company Cape Byron Power.
Adrian Merrick’s explanation of what Energy Locals does is rather to the point: “We sell cleaner energy for a fixed fee and without screwing customers.”
ASIC stated that initial coin offerings can “involve significant risks for investors that are often not disclosed or well understood”.