Target offers to settle with Estee Lauder, ADMA slams federal government for Privacy Amendment Bill, ACCC says online competition a priority: Midday roundup

Target has offered to settle with US cosmetics stalwart Estee Lauder over its sales last year of allegedly fake MAC cosmetics, according to a report in The Age.

The newspaper reports Target made an offer to Estee Lauder subsidiary Make-up Art Cosmetics today to settle the case. Estee Lauder is yet to accept the offer.

The retailer told Estee Lauder it will not infringe any of MAC’s trademarks by importing, distributing, advertising or offering to sell any products branded as MAC.

ADMA slams federal government for Privacy Amendment Bill

The Association for Data-driven Marketing and Advertising has accused the federal government of rushing through the Privacy Amendment Bill 2013, which it says will impose more regulation on Australian business.

ADMA chief executive Jodie Sangster said the bill, which is on track to become law in a matter of days, was “ill-considered”.

“It comes at a time when businesses large and small are already grappling with the most extensive changes to privacy legislation seen in the last 10 years.

“And now the government intends to impose yet more legislation without even considering the impact on business,” she said in a statement.

If passed, the bill will require businesses to report to the federal privacy commissioner the possibility of any “serious harm”, which could come from a data breach.

ACCC to make online competition and consumer issues a priority

The Australian Competition and Consumer Commission will make online competition and consumer issues a compliance and enforcement priority.

Speaking at a National Consumer Fraud Week event in Melbourne this morning, ACCC chairman Rod Sims said he welcomed the challenges of the online economy.

“Consumer protection matters on our radar include fake online reviews, group buying websites, price comparison websites, unfair contract terms online, product safety online, and consumer guarantee rights,” he says.

The ACCC recorded a 65% increase of online scams in 2012.

Australian sharemarket opens weaker

The Australian sharemarket has fallen this morning, as investors appear to remain cautious despite gains on Wall Street.

A US Federal Reserve meeting is scheduled for later this week, which analysts predict is causing the wariness among investors.

The S&P/ASX 200 benchmark was down 43.2 points to 4782.7, just after midday, while in the United States the Dow Jones climbed 0.7% to 15,179 overnight.