Telstra, Optus and Vodafone face class action; Alannah Hill returns to fashion with Louise Love brand: Midday Roundup

Law firm ACA Lawyers has launched a class action against Telstra, Optus and Vodafone over their late payment fees, reports IT Wire.

The lawsuit comes after a landmark decision in the Federal Court in February that found the ANZ Bank’s credit card late fees were “extravagant and unconscionable”.

The action is being funded by Harbour Litigation Funding, which will claim a percentage of the damages if the case is successful.

“The telcos have collected hundreds of millions of dollars in late payment fees, often from the people who can least afford them,” ACA Lawyers said in a statement.

“ACA Lawyers alleges that late payment fees are an unlawful penalty. Customers are entitled to be reimbursed for the fees they have been forced to pay their telcos which exceed the true cost to the service provider.”

Alannah Hill returns to fashion with Louise Love brand

Clothing by fashion designer Alannah Hill will return to department store shelves next month, as Hill launches a new brand of womenswear called Louise Love.

Hill, who parted ways with her eponymous label one year ago, told fans on her Facebook page the Louise Love brand will be available exclusively from five David Jones stores from mid-September, reports Inside Retail.

Hill walked from her namesake label in August 2013, but said at the time she would not be taking a “well-earned break” or “going on safari”.

“My dream is to continue to create fashion that radiates joy and the power of transformation, not just in fashion but in life itself,” she said at the time.

Shares down on open

Aussie shares have opened slightly lower this morning, despite a gain on Wall Street overnight.

But CMC Markets chief market analyst Ric Spooner said it remains to be seen though whether local investors will be quite as negative as their offshore counterparts by then end of the day.

“The fact that owners of UK listed shares will receive stock in the spun off Australian entity is a negative for them that may create value opportunities for Australian investors,” Spooner says.

The S&P/ASX 200 index was down 0.2%, a fall of 9.9 points, to 5613.9 points at 12:10 AEST. On Tuesday, the Dow Jones closed up 80.85 points, a drop of  0.48%, to 16919.6 points.