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A report by the airlines group Airlines for Australia and New Zealand (A4ANZ) released today argues that Australian passengers and the economy are losing out to monopoly airports.

Australian passengers are paying the price of airport privatisation in the absence of appropriate constraints on monopoly power, according to the report. The report includes analysis provided by Frontier Economics. The analysis assessed various measures of medium to longer-term returns of Australia's four main airports.

Frontier Economics regularly advises governments and private sector clients regarding competition, policy and regulation in the transport sector.

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Justice Jonathan Beach of the Federal Court of Australia today handed down his judgment in the case brought by Australian Securities and Investments Commission (ASIC) against Westpac.

ASIC had brought proceedings against ANZ, NAB and Westpac for attempting to fiddle the Bank Bill Swap Rate (BBSW) by artificial trading. ASIC alleged that the fiddling was aimed at pushing the rate in a direction that would enable the bank to gain in contracts which had to be settled contingent upon the rate of that particular day. ANZ and NAB settled with ASIC; but Westpac continued to fight. Justice Beach found that Westpac had acted unconscionably on four occasions.

Frontier Economics advised ASIC during the course of the litigation.

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At the Competition Law Conference 2018, held Saturday 5 May 2018, Philip Williams provided the comment on a paper given by Dave Poddar, Clifford Chance, on "Merger Authorisation Processes in Australia in Light of the Tabcorp Decision".

Philip's comment is available here.

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The Australian Competition and Consumer Comission is partway through the inquiry into digital platforms, which is due to report to the Treasurer in December 2018. This public inquiry is investigating the impact of digital platforms on competition in media and advertising services markets, in particular in relation to the supply of news and journalistic content.

Today, the ACCC published 57 public submissions it received in response to an issues paper released in February 2018. The ACCC received submissions from a range of industry participants, including consumers, digital platforms, journalists and news organisations. A further opportunity for the industry to contribute to the inquiry will be via several public forums planned for consumers, journalists and businesses in late May.

Frontier Economics regularly advises clients in the media and communications sector.

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