Rate-sensitive sectors including consumer stocks dragged the local sharemarket lower,despite a US equities rebound overnight following its steep sell-off.
The boss of Metcash Food calls for even stronger merger laws,while Aldi Australia’s boss explains why it has no stores in Tasmania.
Woolworths and Greenlife Industry Australia have formed an unlikely alliance against the hardware giant,whose managing director says the industry code of conduct is for grocery retailers.
While Woolworths and Coles point the finger at the behaviour of other big retailers,it’s a brain twister as to how giving suppliers more help will benefit customers at the checkout.
Treasurer Jim Chalmers said the government would reform competition rules for supermarkets to drive down prices and address claims of market manipulation.
The review,led by Craig Emerson,recommended potentially huge fines and a mandatory code of conduct to ensure farmers get fairer prices and consumers receive greater savings.
Why shouldn’t taking a stand (either way) on the Voice be seen as part of a company’s environmental and social governance responsibility?
Opposition backbenchers are putting pressure on Peter Dutton to live up to his repeated claim that the Coalition is now the party of the working classes.
The proposed powers – which are also backed by the Nationals – could be used to force Woolworths and Coles to sell assets if the supermarkets grow too big.
Governments are already engaged in shadow-boxing matches with the supermarkets,which can’t afford to stand flat-footed.
The chairs of some of Australia’s biggest businesses have defended company profits.