ACCC takes legal action against Murray Goulburn, drops action against Fonterra

Rebecca Howard
Fri, 28 Apr 2017

By Rebecca Howard April 28 (BusinessDesk) - The Australian Competition and Consumer Commission has filed Federal Court proceedings against Australia's largest milk processor, Murray Goulburn Cooperative, for breaching the Australian consumer law but decided not to take any further action against Fonterra Australia. An investigation was launched when Murray Goulburn abruptly slashed its forecast payout for its farmer shareholders in April last year, a move that was followed by Fonterra's Australian unit in early May. One of the reasons it...
Primary Sector
$25m for Milford tunnel as Southland gets pre-election funding
Brent Melville | Thu, 16 Jul 2020

The Homer Tunnel, a transport lifeline into and out of Milford Sound, Fiordland, will receive a $25 million upgrade as part of a swathe of pre-election government investment into Southland that also i...

Economy
Cheaper petrol, accommodation through lockdown tames inflation
Paul McBeth | Thu, 16 Jul 2020

Cheaper petrol and accommodation slowed the annual pace of inflation through the covid-19 lockdown, more than offsetting price spikes in other consumer goods. The consumers price index shrank 0.5 p...

Retail
Delegat profits up 37%
Victoria Young | Thu, 16 Jul 2020

Wine maker Delegat Group's unaudited profit after tax for the year to June 30 rose 37 percent to $64.1 million, the company reported. The figure includes fair value movements in its vines and deriv...