Finance

Melbourne Lindt café re-opens following Sydney siege; Billson welcomes ACCC power to monitor petrol prices: Midday Roundup

Dan Wood /

The Lindt café in Collins Street in Melbourne’s CBD has re-opened this morning, following the tragic siege at the Lindt café in Sydney’s Martin Place on Monday.

The two Melbourne Lindt stores, the second of which is located at Southbank, closed on Monday after gunman Man Haron Monis took customers and staff hostage in Sydney.

The siege came to a tragic end in the early hours of Tuesday morning when two hostages, Katrina Dawson and Tori Johnson, died. Man Haron Monis was also killed.

Fairfax reports Melbournians have left flowers and cards at the Collins Street stores to pay their respects to the victims of the siege in Sydney.

Billson welcomes ACCC power to monitor petrol prices

Small Business Minister Bruce Billson says the move by the consumer watchdog to monitor the costs petrol will help strengthen the regulation of the industry.

The Australian Competition and Consumer Commission will monitor the prices, costs and profits relating to the supply of unleaded petrol products in Australia for the next three years, producing quarterly reports on the petroleum industry.

“I believe that competitive pressures alone are not sufficient to ensure efficient pricing and the protection of consumers in all retail fuel markets,” Billson said in a statement this morning.    

“I have listened to the many concerns of Australian consumers and business regarding issues of pricing and margins, of supply impacts, and of the state of competition in particular markets and mysteries of fuel pricing.”

“This action is in response to legitimate community concern and the goal of ensuring efficient prices through healthy markets that function to the benefit of motorists.”

Shares up on open

Shares are slightly up this morning, despite a sluggish lead from Wall St overnight.

The S&P/ASX200 benchmark was up 26.4 points to 5178.7 points at 12:11pm AEDT. On Tuesday, the Dow Jones closed down 0.65%, falling 111.97 points to 17,068.9 points.

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