Telecommunications provider TPG Telecom has reported a fall of 56% in net profits for the financial year 2019 compared to last year, with the company attributing the fall from $397.5 million to $175 million to its being forced to give up plans for a mobile network.

The Australian consumer watchdog has told customers of telco Singtel Optus to check whether they have been notified by the company about any refunds they may be entitled to in connection with its direct carrier billing third-party billing service.

The competition regulator, the Australian Competition and Consumer Commission, has instituted proceedings in the Federal Court against Optus Internet and Optus Mobile, alleging the company misled consumers about the need to move to the NBN or risk being disconnected.