ACCC releases country of origin guidelines: Midday Roundup

The Australian Competition and Consumer Commission has released a new set of guidelines for businesses making county of origin claims under Australian Consumer Law.

The guidelines include information and examples about when businesses can claim their products are ‘Made in’, ‘Product of’ or ‘Grown in’ Australia, as well as advice on using the ‘safe harbour’ provisions in the legislation. The guidelines are designed to help businesses avoid making false or misleading representations, which can result in up to $1.1 million penalties under the ACL.

ACCC chairman Rod Sims said that credence claims are a “priority area for the ACCC, particularly those with the potential to adversely impact the competitive process and small businesses”.

One.Tel saga nears end with settlement due tomorrow

The long-running One.Tel saga is drawing to a close, with a settlement now expected tomorrow following delays in court yesterday.

Reports suggest the amount is likely to be between $40 million and $50 million.

Justice Paul Brereton was reportedly unable to approve the final details of the settlement yesterday, as he was away on leave.

The Australianreports no party has an objection to the settlement.

Shares up on open

Aussie shares have opened up this morning, after the US market was boosted by strong earnings from Citigroup and encouraging retail sales figures.

The S&P/ASX200 benchmark was up 35.9 points to 5394.8 at 11.59pm AEST. On Monday the Dow Jones closed 146.49 points higher, up 0.91% to 16,173.24 points.