Australia competition watchdog takes GSK, Novartis over misleading marketing

The Australian Competition and Consumer Commission (ACCC) on Wednesday said it is taking local units of GlaxoSmithKline and Swiss healthcare company Novartis to court over false or misleading representations in the marketing of pain relief products.

It claims they represented Osteo Gel on its packaging and online as specifically formulated for treating osteoarthritis and was more effective than Emulgel, when they had identical formulas.

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Australia: Glencore involved in Paradise Papers

Glencore, the FTSE 100 mining giant, is facing fresh questions about the way it conducts its business following a massive data leak called the ‘Paradise Papers’.

More than 120,000 people and companies have been named in 13.4 million files, many of them leaked from offshore law firm Appleby. The documents have been reviewed by the German newspaper Süddeutsche Zeitung and the International Consortium of Investigative Journalists (ICIJ).

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UBS warns: Australian housing market built on $500 bn of liar loans

The UBS banking team has released its annual survey on factual inaccuracies in Australian mortgage applications, and the results aren’t pretty.

The latest detailed survey of more than 900 people who took out a home loan in 2017 has found that only 67 per cent responded that their mortgage was "completely factual and accurate", down from 72 per cent of 2016 borrowers.

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Glencore: Superior proposal for Rio Tinto’s coal mines

Glencore has sharply raised the stakes in the bidding war for Rio Tinto’s Hunter Valley coal mines by delivering a fresh $2.675 billion offer for the assets. In an announcement in London, Glencore said it would increase its offer by $125 million in an attempt to trump Yancoal’s $2.45 billion bid, which had been selected by Rio Tinto.

However, in a major sweetener Glencore said it would expedite payment to Rio Tinto with a cash settlement once the deal is completed.

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Australia fights against paedophiles with passport ban

Announced as a ‘world premiere’, the new legislative project will soon reach the Parliament and its main purpose is to stop the psychopaths who were convicted from leaving the Australian territory.

The measure will lead to the cancellation of 20.000 passports belonging to individuals who have served their sentence for pedophilia but are still in the forefront of some judicial services.

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