ACCC

Tougher merger laws will boost competition and improve performance and productivity

Retrieved on: 
水曜日, 4月 10, 2024
ACCC, Reserve Bank, Federation, Public policy, Policy, Leg, Competition, Competition Tribunal, GDP, TGA, Treasury, Government, Tobacco

This is because a market economy, based on companies and individuals pursuing their own interests, only works if those companies and individuals face sufficient competition.

Key Points: 
  • This is because a market economy, based on companies and individuals pursuing their own interests, only works if those companies and individuals face sufficient competition.
  • If Treasury and the Reserve Bank are now doing analysis, this indicates they clearly understand Australia’s competition problem.
  • The increased competition that will result will drive better performance and so productivity.

What’s in the reforms?

  • And the ACCC should decide if a merger will substantially lessen competition.
  • These are economic judgements that are poorly suited to first instance decision making by a court.
  • Third, and also hugely important, the reforms mean a merger cannot proceed if it creates, strengthens or entrenches substantial market power.
  • They have wanted proof it will be used in ways that reflect inadequate competition, even though the merger has not happened yet.
  • It recognises that substantial market power should be prevented, and certainly not strengthened or entrenched.
  • The latest merger that triggered the investigation can be stopped, as presumably will be others that may have followed.

What’s not yet in the reforms?

  • The treasurer has, however, indicated the thresholds will be set to capture the number of merger assessments the ACCC does now.
  • The ACCC’s approach to this was to be able to “call in” problematic mergers below the thresholds, but the treasurer has rejected this idea.
  • This suggests the thresholds should be set at a lower level than seems to be envisaged.
  • They reflect a healthy approach to increased competition in our economy which will benefit consumers, most businesses, and the wider economy.


Professor Rod Sims is an expert adviser to the Commonwealth Treasury’s Competition Task Force. He was Chair of the ACCC from 2011-2022.

Loyalty programs may limit competition, and they could be pushing prices up for everyone

Retrieved on: 
火曜日, 4月 9, 2024
Electricity, ISelect, ACCC, EBay, Netflix, Travel, Research, Private sector, Record, Competition, Government, Retail

Loyalty programs enable firms to offer significantly lower prices to some of their customers. You’d think this would encourage strong competition. But that isn’t always what actually happens. New research shows that paradoxically, by changing the way companies target customers, loyalty programs can sometimes reduce price competition. The research also points to solutions.A win-win proposition?You – the customer – get to enjoy perks and discounts, while the company gains useful commercial insights and builds brand allegiance.

Key Points: 


Loyalty programs enable firms to offer significantly lower prices to some of their customers. You’d think this would encourage strong competition. But that isn’t always what actually happens. New research shows that paradoxically, by changing the way companies target customers, loyalty programs can sometimes reduce price competition. The research also points to solutions.

A win-win proposition?

  • You – the customer – get to enjoy perks and discounts, while the company gains useful commercial insights and builds brand allegiance.
  • The hotel chain, in turn, records and analyses how you spend money and encourages you to stay with them again.
  • Loyalty schemes can have pro-competitive effects and intensify competition between rivals leading to competing loyalty discounts and lower prices for consumers.
  • But on the other hand:
    Loyalty schemes can also reduce the flexibility of consumers’ buying patterns and responsiveness to competing offers, which may reduce competition.
  • Loyalty schemes can also reduce the flexibility of consumers’ buying patterns and responsiveness to competing offers, which may reduce competition.

How a two-speed price system can hurt everyone


A new economic theory research working paper, coauthored by one of us (Kominers), suggests that on competitive grounds alone, loyalty programs can sometimes harm all consumers – both ordinary shoppers and the program’s own members.

  • Since a firm’s loyalty program enables it to offer discounted prices to its members, the firm can raise the base prices it offers to everyone else.
  • Those not participating in the program pay more than they otherwise would have, and the firm can respond by saying “join our program!” instead of having to lower its price.
  • This, in turn, reduces overall price competition for loyal customers, so firms can raise prices for them, too.

What’s the solution?

  • So, how do we preserve these benefits while enabling price competition?
  • The research suggests an answer: making a customer’s loyalty status verifiable, transparent and portable across firms.
  • To address this, in 2015, the Victorian government launched a program encouraging households to compare energy offers.
  • These allow direct transfer of loyalty status, but currently rely on a lengthy, individual-level verification process.
  • Both startups and established firms have experimented with building such systems.

What next?


New academic research helps us model and better understand when loyalty programs could be weakening supply side competition and undermining consumer welfare. A neat universal solution may prove elusive. But targeted government or industry interventions – centred on increasing the transparency of a customer’s loyalty status and letting them move it between firms – could help level the playing field between firms and consumers.

  • Part of this work was conducted during the Simons Laufer Mathematical Sciences Institute Fall 2023 program on the Mathematics and Computer Science of Market and Mechanism Design, which was supported by the National Science Foundation under Grant No.
  • DMS-1928930 and by the Alfred P. Sloan Foundation under grant G-2021-16778.
  • He also holds digital assets, including both fungible and non-fungible tokens, and serves as an expert on marketplace design and Web3-related matters.
  • DMS-1928930 and by the Alfred P. Sloan Foundation under grant G-2021-16778.

More mergers to come under scrutiny in another leg of Chalmers’ competition policy

Retrieved on: 
火曜日, 4月 9, 2024
ACCC, Risk, University, Treasurer, Food, OECD, Competition, Competition Tribunal, Workload, Treasury, Economics, Government, Law, Supermarket

Treasurer Jim Chalmers has unveiled new rules governing company mergers that will bring more of them under scrutiny to ensure they don’t worsen competition.

Key Points: 
  • Treasurer Jim Chalmers has unveiled new rules governing company mergers that will bring more of them under scrutiny to ensure they don’t worsen competition.
  • A mandatory notification system will be brought in and the Australian Competition and Consumer Commission will be the single decision-maker on all mergers.
  • At the moment, notifications are voluntary, with the ACCC having the right to object after they have gone ahead.
  • Mergers above a yet-to-be-determined threshold and mergers which could significantly change market concentration will have to be notified and approved before going ahead.

American Consumer Credit Counseling Named Best Debt Management Company of 2024 by Forbes Advisor

Retrieved on: 
火曜日, 3月 26, 2024
ACCC, Credit counseling, Credit, Senior counsel, Financial services

BOSTON, March 26, 2024 /PRNewswire-PRWeb/ -- National nonprofit American Consumer Credit Counseling, Inc. (ACCC) is honored to announce that it has been named the Best Debt Management Company of 2024 by Forbes Advisor. This prestigious recognition comes as a testament to the organization's unwavering commitment to providing exceptional debt management services and financial education since its establishment in 1991.

Key Points: 
  • American Consumer Credit Counseling award coincides with launch of new personal finance app, CreditU
    BOSTON, March 26, 2024 /PRNewswire-PRWeb/ -- National nonprofit American Consumer Credit Counseling, Inc. (ACCC) is honored to announce that it has been named the Best Debt Management Company of 2024 by Forbes Advisor .
  • The organization's comprehensive range of services includes credit counseling, financial education, and debt management plans tailored to meet the unique needs of each consumer.
  • "We are absolutely thrilled to be recognized by Forbes Advisor as the Best Debt Management Company of 2024," said Allen Amadin, CEO of American Consumer Credit Counseling, Inc. "This accolade reflects our team's hard work, dedication, and commitment to excellence.
  • ACCC's recognition as the Best Debt Management Company of 2024 by Forbes Advisor is a milestone that underscores the organization's leadership in the financial counseling sector.

American Oncology Network Announces Leaders Participating in ACCC’s Annual Meeting & Cancer Center Business Summit

Retrieved on: 
木曜日, 3月 7, 2024
AON, RN, MSN, OCN, CSSBB, MBA, MHA, Summit, Annual, Business intelligence, ACCC

FORT MYERS, Fla., March 07, 2024 (GLOBE NEWSWIRE) -- American Oncology Network (AON) (Nasdaq: AONC) is pleased to announce its leaders who participated in the Association of Cancer Care Centers (ACCC) 50th Annual Meeting & Cancer Center Business Summit.

Key Points: 
  • FORT MYERS, Fla., March 07, 2024 (GLOBE NEWSWIRE) -- American Oncology Network (AON) (Nasdaq: AONC) is pleased to announce its leaders who participated in the Association of Cancer Care Centers (ACCC) 50th Annual Meeting & Cancer Center Business Summit.
  • The Summit’s purpose was to analyze innovative solutions to cancer care challenges.
  • “The Summit lays the groundwork to dive into pressing issues that face cancer care while exploring innovative solutions to the challenges that face our industry.
  • I am confident that our leaders made significant contributions to the discussions and inspired fellow industry peers.”
    For more information about AON, visit www.AONcology.com .

ACCC Marks 50 Years of Oncology Community Leadership with Name Change

Retrieved on: 
木曜日, 2月 15, 2024
Social media, Cancer, Hospital, Doctor of Philosophy, Research, Education, Physician, Growth, MBA, Doctor of Pharmacy, Moonshot, Blog, COVID-19, Patient, Pandemic, Diagnosis, ACCC, Nursing

ROCKVILLE, Md., Feb. 15, 2024 /PRNewswire/ -- The Association of Community Cancer Centers is marking its 50th anniversary with a name change to illustrate the dynamic future of cancer care for its members. The largest advocacy and resource organization for multi-disciplinary oncology professionals will now be known as the Association of Cancer Care Centers (ACCC).

Key Points: 
  • The largest advocacy and resource organization for multi-disciplinary oncology professionals will now be known as the Association of Cancer Care Centers (ACCC).
  • ACCC members include individual multi-disciplinary oncology professionals and cancer care centers small and large around the country.
  • The Association of Cancer Care Centers (ACCC) is the leading education and advocacy organization for the cancer care community.
  • Follow ACCC on social media; read the blog, ACCCBuzz ; tune in to the CANCER BUZZ podcast; and view the CANCER BUZZ TV channel.

CTC Global Receives Strategic Investment from Endeavour Capital and Greenbelt Capital Partners

Retrieved on: 
月曜日, 2月 12, 2024
Utilities, Sustainability, Environment, Energy, Steel, Engineering, Green Technology, Manufacturing, Ageing, Growth, Endeavour, CTC, ACCC, Partnership, Renewable energy

Endeavour Capital (“Endeavour”) and Greenbelt Capital Partners (“Greenbelt”) (collectively, the “Investors”) are pleased to announce the close of a strategic investment in CTC Global Corporation (“CTC” or the “Company”).

Key Points: 
  • Endeavour Capital (“Endeavour”) and Greenbelt Capital Partners (“Greenbelt”) (collectively, the “Investors”) are pleased to announce the close of a strategic investment in CTC Global Corporation (“CTC” or the “Company”).
  • Based in Irvine, CA, CTC specializes in engineering and manufacturing advanced conductor cores for high-voltage transmission cables.
  • The Company’s cutting-edge ACCC® Conductors have been successfully installed in over 1,250 projects across 60 countries by more than 250 utilities.
  • We are thrilled to partner with CTC and Greenbelt on this journey.”
    The capacity buildout and hardening of transmission systems are critical steps in the U.S. and global path to energy resiliency.

Desperate for Taylor Swift tickets? Here are cybersecurity tips to stay safe from scams

Retrieved on: 
金曜日, 2月 9, 2024
ACCC, Fraud, Booking.com, Education, Social media, Trust, Prevalence, Family, Friends, Hacking, Risk, Competition, Online shopping

The global superstar Taylor Swift is bringing her Eras tour to Australia later this month, with sold-out shows in Sydney and Melbourne.

Key Points: 
  • The global superstar Taylor Swift is bringing her Eras tour to Australia later this month, with sold-out shows in Sydney and Melbourne.
  • With Swifties numbering in the thousands, fans who didn’t initially secure tickets are understandably desperate to find some.

The problem is ticket fraud

  • In the case of Ticketek, electronic tickets are linked to the purchaser’s phone number to reduce fraud.
  • Electronic ticketing aims to overcome a range of problems, such as counterfeit tickets, duplicate tickets and ticket scalping.
  • When purchasing tickets, it can be difficult to know if it is an authentic website, a genuine ticket and a legitimate transaction.

Hacked accounts

  • Some people have had their Ticketek accounts hacked, and offenders have been able to make transactions without the owner’s consent.
  • However, victims soon find their family member or friend has had their account hacked.
  • Recently, hackers gained unauthorised access to hotel provider accounts on the popular accommodation website Booking.com.

If I’d only played it safe

  • But you can look out for warning signs and take steps to reduce the risk of fraud or being hacked.
  • While customers are reporting long wait times and less than satisfactory user experiences right now, it is still the most likely place to have genuine tickets.
  • While this will not prevent fraud, it does make it easier to report an incident or figure out what happened.
  • Always confirm in person or over the phone with any known contacts who have messaged an offer or requested funds.
  • With the prevalence of hacking into accounts, you may not be communicating with the person you think you are.

No one teaches you what to do

  • You should also contact the platform through which you made the transaction (such as Ticketek Marketplace).
  • If you need support or assistance for any compromise of your identity, contact iDcare.


Cassandra Cross has previously received funding from the Australian Institute of Criminology and the Cybersecurity Cooperative Research Centre.

Supermarkets, airlines and power companies are charging ‘exploitative’ prices despite reaping record profits

Retrieved on: 
水曜日, 2月 7, 2024
AGL, Attention, Growth, Parent, Milk, Farmer, Cheese, Government, Consumer, Child, Reserve, Food, Supermarket, Senate, Aviation, ACTU, Weather, Airport, ACCC, Competition Commission, Electricity, Bread, Business

Australians have been hit by large rises in grocery, energy, transport, child and aged care prices, only adding to other cost of living pressures.

Key Points: 
  • Australians have been hit by large rises in grocery, energy, transport, child and aged care prices, only adding to other cost of living pressures.
  • The inquiry, which released its final report on Wednesday, is one of four examining price rises.

Prices vs inflation

  • While the inquiry found higher prices contributed to inflation, it reported that businesses claimed it was inflation that caused price rises - making it a chicken-or-egg kind of problem.
  • 5 key themes emerged

    However, many businesses made enormous profits in 2022-23, which the inquiry said contributed to rising prices and inflation.

How prices are set

  • These practices helped raise prices and were “exploitative”, the inquiry found.
  • A lack of transparent pricing information caused a poor understanding by consumers of how prices were set.
  • While market concentration was a major issue, the inquiry found prices in Australia are way higher than in many other less competitive markets.
  • The inquiry found both wholesale and retail electricity pricing strategies were responsible for these increased prices.
  • The report noted the “price bidding system” was largely responsible for increasing wholesale electricity prices.
  • SUPERMARKETS Supermarket prices have received the most attention recently with the main providers being accused of price gouging.
  • The report noted that supermarkets increased prices when there was a shortage or cost increase, but the opposite did not happen easily when supplies were plentiful and prices were cheaper.

Issues common to all sectors


Among the issues common to all sectors were weak competition, a lack of price transparency, the difficulty consumers face switching between suppliers and providers, a lack of pricing policies and a lack of consumer awareness. While the price rises imposed by service providers and retailers were not unlawful, the increases in all sectors were significant and were hurting everyday Australians.

Fels’ recommendations

  • Many of the recommendations were sector-specific, but the one that applied to all areas related to the lack of regulation and pricing policies.
  • The ACCC should be empowered to investigate, monitor and regulate prices for the child and aged care, banking, grocery and food sectors, the inquiry found.
  • For example, the government should use the current aviation review to remove international and domestic restrictions on competition.

Change is needed

  • The current pricing practices for all business sectors must improve for greater transparency and to protect Australian consumers from unfair pricing.
  • Implementing the recommendations will improve fair and transparent pricing practices and may help Australians get relief from the cost of living pressure in future.


Sanjoy Paul does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

We’re in a food price crisis. What is the government doing to ease the pressure?

Retrieved on: 
火曜日, 2月 6, 2024
Food security, Meat, Agriculture, Refugee, GST, Pressure, Food, Government, COVID, Supermarket, Conduct, Competition, Disability, Flood, ACCC, Health, Bread, Submission, Vegetable

Food prices have risen sharply since 2021, fuelling cost of living pressures and food insecurity.

Key Points: 
  • Food prices have risen sharply since 2021, fuelling cost of living pressures and food insecurity.
  • So what is the Australian government doing to ease the cost of a supermarket shop?
  • Read more:
    Amid allegations of price gouging, it's time for big supermarkets to come clean on how they price their products

First, how much have food prices increased, and why?


Food prices peaked in December 2022, with an average shopping basket costing 9.2% more than in 2021. Although food prices have eased since that peak, they remain significantly higher now compared to before the pandemic. Almost all food categories have been hit, but many healthy foods appear to have increased in price at almost double the rate of discretionary (unhealthy) foods.

  • The COVID pandemic, climate events such as floods and bushfires, and international conflicts have all contributed, to varying degrees.
  • These events have placed undue pressure on food supply chains through food shortages, increased fuel, energy and transport costs and a shortage of workers from farm to fork.
  • This is against a backdrop of one of the most powerful and concentrated grocery sectors in the world, severely limiting competition.

So what is the government doing to ease the pressure?

  • While many of these recommendations may indirectly influence food prices, only one explicitly addressed food prices: to provide subsidies for remote community stores so fresh food can be sold at an affordable price.
  • In early 2024, the government announced an independent review of the Food and Grocery Code of Conduct to ensure the grocery retailers and wholesalers are dealing fairly with suppliers.
  • This will have more teeth than other inquiries, allowing the ACCC to use legal powers to gather information, including from the supermarkets themselves.
  • The pressure from the inquiry may also lead to supermarkets voluntarily lowering food prices, in a similar way to previous inquiries.

What are other countries doing?

  • For example, the price of at least one type of bread would be lowered and advertised to shoppers at this lower rate.
  • The Greek government has also provided low-income households with a monthly allowance to support grocery costs, among other measures.

What next for Australia?

  • We need to recover from where we are, but we must do so in a way that ensures a more resilient food system with stable food prices over time.
  • While it’s too early to know what will come of the various food price inquiries, the government is and should continue to provide general cost-of-living support.
  • Unless the government steps up to ease the pressure, too many Australians will keep struggling to put food on the table.


Kathryn Backholer receives funding from the Australian Research Council, the National Heart Foundation, the United Nations Children's Fund, the World Health Organization, the National Health and medical Research Council, The Ian Potter Foundation, QUIT Victoria, and The Responsible Gambling Foundation. Christina Zorbas receives funding from the Victorian Health Promotion Foundation (VicHealth) and the International Food Policy Research Institute (IFPRI).