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ABC News
12 minutes ago
- ABC News
Webjet fined $9 million for excluding fees from ads, falsely confirming bookings
Travel giant Webjet has been fined $9 million after it admitted it failed to include compulsory fees in some of its advertised airfare costs, and it provided misleading booking confirmations. In the Federal Court case, brought on by the Australian Competition and Consumer Commission (ACCC), Webjet admitted it made misleading statements in promotional emails and social media posts on airfare prices between 2018 and 2023. Webjet further admitted it provided false or misleading booking confirmations to 118 customers for flights it had not actually confirmed between 2019 and 2024, then asked for payments of up to $2,120 from consumers to complete the booking. Webjet has since refunded those customers. The consumer watchdog began investigating Webjet after a customer complained that an airfare advertised as "from $18" ended up costing triple that amount once all the compulsory fees were added. "We took this case because we considered that Webjet used misleading pricing by excluding or not adequately disclosing compulsory fees in its ads," ACCC chair Gina Cass-Gottlieb said. Compulsory fees, including "Webjet servicing fee" and "booking price guarantee" fee, ranged from $34.90 to $54.90 a booking, depending on the destination. While fees were disclosed on the website, app and most emails, Webjet's social media posts did not disclose the additional fees. "Retailers must ensure their advertised prices are accurate. They should clearly disclose additional fees and charges," Ms Cass-Gottlieb said. Webjet's fees made up 36 per cent of its total revenue between November 1, 2018 and November 13, 2023. Webjet cooperated with the ACCC, admitted liability and agreed to make joint submissions to the court about orders, including the penalty. A statement published to the ASX by Webjet Group on Monday acknowledged the agreed penalties. "In accordance with the Federal Court's orders, and consistent with the agreement reached between the parties, Webjet Marketing has agreed to: In a February ASX statement, Webjet said it had "voluntarily and proactively implemented improvements to its fee disclosures". "Webjet Group is confident that any customer concern with its offering, disclosure, service, or pricing was limited," it said. "It has always prided itself on its high levels of trust with all customers and stakeholders and has fully cooperated and positively engaged with the ACCC to resolve this matter."
News.com.au
42 minutes ago
- News.com.au
‘Insane': Run-down home sells for $3 million
The more than $3 million sale of an overgrown two-bedroom house in Brisbane has raised questions about the state of the city's housing market. The home in Perrott Street, on a 473 sqm corner block in the ritzy inner-city suburb of Paddington, went under the hammer over the weekend. After an opening offer of $2.75 million, a flurry of bids quickly brought the sale price to $3.1 million – well above the suburb's median price of $1.9 million. The property listing said it had been in the same family for 100 years and was used as a hospital during the Second World War. But it had not been occupied since the 1990s and would require 'significant works to bring it up to a comfortable living standard'. Photos showed the house was in a state of disrepair with the roof overrun with weeds, though it stood on a spacious block and commanded views of the city. Reaction to the sale on social media was mixed, with some Aussies labelling the $3.1 million sale price as 'insane' and 'ridiculous', and the home itself as a 'dump'. 'Problem is someone will knock it down for the land and build some garbage thing,' one said. 'It gets you a block of land worth $3.5 million three weeks from now after you bulldoze the shack,' another added. But Ray White agent Max Hadgelias told that the new owners were a local family who intended to be owner-occupiers. There had been 'fantastic interest' in the home, with 15 registered bidders at the auction along with scores of locals who attended out of curiosity, Mr Hadgelias said. Given the home was a protected character house it was 'unlikely' to be bulldozed to make way for a development. 'It requires a lot of work, but someone restoring it will bring it back to its former glory.' Although the property was in a run-down state, the price was 'underpinned by its location,' which included its sought-after Paddington postcode, elevated position and city views. Mr Hadgelias described the local housing market as 'strong – there's good activity across all spectrums at the moment'. Leith van Onselen, chief economist at said the sale was indicative of overstretched demand for housing in Brisbane. The city had seen an 89 per cent increase in house prices since March 2020. 'Brisbane's had one of the biggest house price rises in the country since the pandemic,' Mr van Onselen said. 'It's gone from being one of the more affordable housing markets to being the second-most expensive (after Sydney).' The cause was a 'gigantic surge' in both interstate and overseas migration to Brisbane. 'It's a real pressure cooker situation in Brisbane unfortunately, and I think the (2032) Olympics will make it worse. 'Obviously the inward migration from overseas and Australia has overwhelmed supply.' PropTrack data for June showed Sydney remained Australia's most expensive city with a median house price of $1.18 million, followed by Brisbane at $908,000, Adelaide at $837,000, Perth at $836,000 and Melbourne at $818,000.
News.com.au
42 minutes ago
- News.com.au
ASX jumps in Monday trading after Trump announces more tariff deals
Australia's sharemarket snapped a brief two day losing streak on Monday after US President Donald Trump announced his latest trade deal and the major banks bounced back from their recent falls. The benchmark ASX 200 index closed up 30.8 points or 0.36 per cent at 8697.7 after hitting an intraday high of 8704.9, while the broader All Ordinaries finished in the green up 29.20 points or 0.33 per cent to 8,963.50. The Australian dollar slipped from a nine-month high on Friday buying 65.51 US cents at the time of writing. On an overall positive day, eight of the 11 sectors finished in the green, led by the telecommunications sector, the big four banks and healthcare stocks. Shares in Telstra gained 0.81 per cent to $4.95, REA Group jumped 1.34 per cent to $236.09 and CAR group added 1.72 per cent to $37.89. Market heavyweight CBA gained 1.17 per cent to $174.90 offsetting half the falls in recent days, while NAB gained 0.67 per cent to $37.76, Westpac added 0.54 per cent to $33.21 and ANZ group closed 0.30 per cent higher at $30.31. Healthcare darling CSL gained 1 per cent to $270.59, Sigma Healthcare added 1.41 per cent to $2.88 and ResMed finished 0.97 per cent higher to $41.70. The markets jumped after US President Donald Trump announced a deal with the EU to end four months of negotiations between the two economic powerhouses. Following the discussions, the EU will face a 15 per cent tariff from the US, which is down from the 25 per cent the President announced in April. European Commission chief Ursula von de Leyen described it as 'a big deal, a huge deal, bringing: stability and predictability' to the two trading partners. IG market analyst Tony Sycamore said global markets around the world jumped on these trade deals. 'In terms of the trade deals with Japan and Europe, the tariff rate that will be implemented came in lower than initially threatened and the market is looking very positively on it,' Mr Sycamore said. Uranium shares were one of the rare misses during Monday's trading, dragged down by news out of Boss Energy which flagged challenges out of its Honeymoon uranium project. Boss Energy shares plummeted 43.97 per cent to $1.90, Deep Yellow fell 8.34 per cent to $1.65 and Paladin Energy dropped 4.43 per cent to $6.91. 'That is the uranium sector in a nutshell,' he said. 'It is one where you have to be prepared for extraordinary volatility. 'This was a disappointing performance day and a disappointing report by Boss Energy.' In company news, Helloworld Travel shares soared 14.14 per cent to $1.69 after the business upgraded its guidance to somewhere between $58-$62m. Stealth Group's shares also soared 11.02 per cent to $0.70 after announcing a 50 per cent jump in pre-orders on the back of the soon to be released iPhone 17. Bubs Australia shares jumped 2.94 per cent to $0.18 after the infant formula maker announced Joe Cootes as its new chief executive, effective immediately.
