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After an initial period of extreme uncertainty, the rhetoric around the Australian property market appears to have shifted into a new phase in response to the ongoing coronavirus pandemic.

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On this episode of The nestegg Podcast, host Grace Ormsby is joined by the founder and CEO of Upside Realty, Adam Rigby, to delve into how COVID-19 has been affecting different demographics within the property sector, including renters, landlords, investors and retirees.

Adam touches on the pros and cons of potentially removing stamp duty, his predictions for marketplace trends over the coming months, and the importance of picking quality over timing when considering an investment.

Thanks Adam, for sharing your insights with the nestegg podcast team!

You can keep up to date with what Upside Realty are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Tuesday, 02 June 2020

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Why listed tech giants are copping heat in Australia

By Cameron Micallef · May 27 2019

Reading:

Invest

Why listed tech giants are copping heat in Australia

By Cameron Micallef
May 27 2019

Reading:

Why listed tech giants are copping heat in Australia

By Cameron Micallef · May 27 2019

Reading:

Tech giants listed on the Nasdaq have had warning shots fired at them from the competition regulator here at home.

The Australian Competition and Consumer Commission has flagged mergers and acquisitions by digital platforms that threaten natural competition in the market.

Over the past 12 years, Facebook has acquired 66 companies for a value of US$23 billion, while Google between 2004 and 2014 acquired 145 companies also valued at US$23 billion.

During his address to the 2019 Competition Law Conference, ACCC chair Rod Sims stated that

“There is a growing debate, both in Australia and overseas, as to whether the process of competition for the market is adequately protected by the forward-looking substantial lessening of competition test applied to mergers,” said Mr Sims.

“Arguably, Facebook’s acquisition of Instagram eliminated the threat of a substantial potential competitor,” said Mr Sims.

Under section 50 of the Competition and Consumer Act in Australia, mergers that would threaten competition or likely to threaten competition can be blocked by the ACCC.

Mr Sims has challenged the application of merger laws under these circumstances, which involve the removal of a potential competitor.

In commenting on the consideration of the Facebook-Instagram and Google-Waze mergers, the Competition and Markets Authority in the UK noted: “With the benefit of hindsight, a key challenge posed by such cases in digital markets relates to assessing what may be a small possibility of a large reduction in competition,” said Mr Sims.

“The Digital Competition Expert Panel in the UK led by Jason Furman recommended that a ‘balance of harms’ approach be introduced for assessing mergers under UK competition law. The ‘balance of harms’ approach enables the decision-maker to take into account the magnitude of the foregone benefits to competition the target could bring, and the likelihood of these benefits being achieved,” said Mr Sims.

The ACCC will provide its final report to the DPI and the Treasurer on 30 June.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.