THE NEWS WRAP: Apple sued by US Justice Department

The US Justice Department has sued Apple and five publishing houses, alleging a “conspiracy” to raise prices and limit competition for eBooks, but has already reached a partial settlement.

As the antitrust suit was announced, officials said three of the publishers agreed to end the scheme to force retailers, such as Amazon, to accept a new pricing plan that limited their ability to offer discounts for eBooks.

However, the case will proceed against Apple and the other two publishers – Macmillan and Penguin Group – “for conspiring to end eBook retailers’ freedom to compete on price”.

“As a result of this alleged conspiracy, we believe that consumers paid millions of dollars more for some of the most popular titles,” Attorney General Eric Holder said.

Solomon Lew seeks gag in trust fund fight

Billionaire retailer Solomon Lew has asked a court to restrict media coverage of a bitter legal stoush over tens of millions held in a $621 million family trust fund.

Counsel for Lew, Jack Fajgenbaum, QC, has asked the Victorian Supreme Court to prohibit media reporting that identifies parties to the case.

Lew’s move echoes a failed High Court bid last month by Gina Rinehart to suppress details of her family feud from being played out before the NSW Supreme Court.

Domino’s overpays pizza drivers

A complaint by Domino’s pizza drivers that they were being underpaid has backfired after the company’s “self audit” found they were actually receiving too much.
 

Casual drivers now face having their pay slashed by as much as $100 a fortnight, angering them and their union.

Employees received letters from store managers last week saying casual drivers working for less than 12 months would be paid less from this week.

Overnight

The Australian dollar dropped slightly this morning as the market awaits domestic jobs figures.

At 7am AEST, the Australian dollar was trading at 102.99 US cents, down from 103.02 cents yesterday.