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The Latest Breaking News from Commerce Commission

The Foodstuffs merger is dead – but that still won’t fix NZ’s over-concentrated supermarket sector

Two of the dominant players in New Zealand’s supermarket sector – Foodstuffs North Island and Foodstuffs South Island – have failed in their quest to officially join forces.

The Conversation

Want NZ banking to be more competitive? Then make it easier to switch banks

The Commerce Commission’s banking market study has concluded more competition is required to reduce the profits of the big four banks. But the report suggests increasing competition may be ineffective unless customers are easily able and willing to switch between banks.

The Conversation

New Zealand Inquiry On Airport Fees Awaits Watchdog Review

Commerce Commission's review of airport fees impacts Air New Zealand and aviation sector in New Zealand.

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Power gentailers' dominance helps consign 300,000 people to energy hardship – report

Independent panel chair says the Commerce Commission should investigate a lack of competition, driving up electricity prices and leaving children sick and unable to attend school. Jonathan Milne reports.

Newsroom.co.nz

Financial mentors plead against softer lending regulations

The incoming National-led government plans to do away with parts of the Consumer Finance Act it believes are stifling access to credit, reports Andrew Bevin

Newsroom.co.nz

Gloriavale community takes big banks to the Commerce Commission

A controversial and reclusive West Coast Christian community is seeking to overturn the tables of the money lenders. Jonathan Milne reports.

Newsroom.co.nz

Heartland breaks ranks to allege 'distorting' behaviour by big banks

Big banks' deep pockets allow them to tilt the playing field with mortgage broker incentives and home loan cashbacks, says Heartland chief executive. Jonathan Milne reports.

Newsroom.co.nz

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Borrowers left in 'mortgage prison' as firms quit personal lending market

A Commerce Commission inquiry has been warned that Kiwi borrowers will be unable to shift to more competitive lenders because of tough new credit rules. Jonathan Milne reports.

Newsroom.co.nz

Treasury pre-election outlook to show economy under increasing pressure

Rising fuel prices raise temperatures at No 1 The Terrace, and raise eyebrows further up the road at the Commerce Commission. Andrew Patterson reports.

Newsroom.co.nz

Time to cooperate, not worship the God of competition

The Commerce Commission says it won't tolerate sustainability being used as an excuse for anti-competitive behaviour – work together to save the planet if you must, but always remember the prior obligation to compete, says Rob Campbell

Newsroom.co.nz

Canterbury lines company squeezed

Dividend delayed at request of Christchurch council’s holding company

Newsroom.co.nz

Big banks' smalltown challengers find hope in profits inquiry

Expressing concern at the high profits pulled in by the Australian-owned banks, the Commerce Commission is surveying 2000 consumers about the impediments to them switching to local providers. Jonathan Milne reports.

Newsroom.co.nz

Corporates and councils cut card surcharges – under duress

The Commerce Commission has persuaded phone company 2degrees to cut its credit card surcharge, but its competitor One NZ is refusing to budge. Jonathan Milne reports.

Newsroom.co.nz

High-end grocery chain questioned, but 'not the subject of investigation'

It's hard to say whether there was sufficient evidence to warrant the Commerce Commission investigating specific claims of retailer pressure, says Food and Grocery Council boss Raewyn Bleakley.

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Three grocery suppliers cautioned for price-fixing, forcing online store's closure

The Commerce Commission has formally warned three groceries suppliers for demanding a small online store charge more than supermarkets. Its next step is fines of up to $10m. Jonathan Milne reports.

Newsroom.co.nz

Commerce Commission should probe 'stubbornly' high remittance costs

Global currency tech company Wise is calling on the Commerce Commission to investigate what banks charge for overseas remittances when it conducts its market study into the retail banking sector.

Newsroom.co.nz

Local councils review big card payment surcharges on ratepayers

Hutt City was the first local authority forced to refund excessive credit card surcharges; now Matamata-Piako and other councils are reviewing their fees. Jonathan Milne reports.

Newsroom.co.nz

Shoppers warned against paying more than 3% card surcharges

Eftpos provider hopes to launch contactless debit payments in next two years, freeing consumers from shackles of big credit card companies

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Govt orders inquiry into anti-competitive land covenants

First petrol stations, then supermarkets, then building supplies merchants. Now the Commerce Minister has asked for a wide-reaching inquiry into the use of land covenants to block competition, and cites meat processing plants as a place to start.

Newsroom.co.nz

Bunnings agrees to remove 999 year legal constraint on use of residential land

The Australian-owned building supplies chain is defending the 16 land covenants it has retained, as protecting the value of its property and marketing investments. Jonathan Milne reports.

Newsroom.co.nz

Credit Suisse rescue package shows why our banks shouldn't pay big dividends

This is why bank shareholders shouldn't expect such big returns – their risk is lower. In what other industry, asks Jonathan Milne, would they be rescued by regulators?

Newsroom.co.nz

Amid fears for small players, big banks agree to a competition inquiry

Is NZ developing a two-tier banking system? There’s concern smaller savings institutions may be placed at greater risk, if customers follow Americans' flight to big banks this week. Jonathan Milne reports.

Newsroom.co.nz

Reserve Bank would back a Commerce Commission probe into bank profits

Some retirees could face a cold and hungry winter, as costs rise and banks slow-pedal their term deposit interest rates. It's allowing the big banks to maintain high margins and send record dividends back to their Australian owners. Jonathan Milne reports.

Newsroom.co.nz

Crackdown: Pawnbrokers and payday lenders target cyclone victims

Commerce Commission files court action to regulate pawn loans, but too late for vulnerable communities of Hawkes Bay and Tairāwhiti. Jonathan Milne reports.

Chicago Sun-Times

Peoples Gas seeks record $402 million rate hike next year

The utility’s filing with the Illinois Commerce Commission marks its first rate increase proposal since 2014 — but it’s the biggest one the utility has sought, consumer advocates say.

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