Business

THE NEWS WRAP: Log of 12,000 Vodafone complaints handed to regulators

Oliver Milman /

A report is to be handed to the Australian Communications and Media Authority and the Australian Competition and Consumer Commission over alleged failures in Vodafone’s service.

 

Adam Brimo, the creator of Vodafail.com, has compiled nearly 12,000 customer complaints on the site. Customer service, network coverage and complaint handling are the main topics raised by unhappy customers.

 

Vodafone is already facing a class action supported by 19,000 customers, including many small businesses.  

 

Air NZ grabs stake in Virgin Blue but denies takeover

 

Air New Zealand has denied that it is set to launch a takeover bid for Virgin Blue after taking a significant stake in the airline.

 

Regulatory approval has been granted for Air NZ to take a 14.99% share of Virgin Blue. Richard Branson’s Virgin Group has a 26% share of the company. However, Air NZ said that it not looking for a merger.

 

Rinehart increases Fairfax stake

 

Mining entrepreneur Gina Rinehart doubled her stake in Fairfax Media last month, according to The Australian.

 

Rinehart, who is Australia’s richest woman, now has a 4% stake in Fairfax, worth $120 million. The deal increases Rinehart’s media interests after she took a 10% stake in Ten Network Holdings in November.

 

Overnight

 

The Australian dollar dropped from parity to 98.9 US cents. On Wall Street, the Dow Jones Industrial average fell 0.05% in weak trade.

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