The first bosses of Australia’s biggest supermarkets are getting ready to be interrogated over rising grocery prices and price gouging before a final showdown that will see the heads of Woolworths and Coles front angry senators. On Thursday, the chief executive of the German-headquartered Aldi chain Anna McGrath and MetcashContinue Reading
Supermarket giant Woolworths will put money into a $190m global investment fund to keep its stores at the forefront of emerging retail technology and address sustainability challenges in the sector. The venture capital fund, called W23 Global, will seek out early-stage start-up companies that are using tech to drive faster,Continue Reading
The boss of HelloFresh has taken aim at Australia’s biggest supermarkets over pricing as he promises a “price lock” on food for months to come. Tom Rutledge, chief executive of the popular meal delivery service, hit out at the big supermarkets for their alleged “sneaky” tactics and promotions, which heContinue Reading
Woolworths shares crashed more than five per cent on Wednesday morning despite the retailer recording a revenue bump over the past six months. Despite the increase, the retailer recorded a profit loss of $781m in the midst of a rolling “PR nightmare”. For the half-year ended December 31, 2023, WoolworthsContinue Reading
Australia’s foreign-owned beer “duopoly” behind the likes of VB and Toohey’s has been accused of freezing out small local brewers from pub taps with “anti-competitive” contracts. Independent brewers have long complained about being unable to compete with lucrative deals offered to venues by deep-pocketed multinationals, including cash rebates and otherContinue Reading
Endeavour Group’s quest to buy the iconic Rye Hotel on Victoria’s Mornington Peninsula has stumbled due to “competition concerns”. The Australian Competition and Consumer Commission (ACCC) said it’s concerned the purchase would create a takeaway alcohol monopoly in the small Victorian town. Endeavour Group owns BWS, which has a storeContinue Reading
The Australian share market shed more than 90 points on Thursday after signals from the US Federal Reserve overnight that rates would need to stay higher for longer triggered a broad sell-off. While the Fed didn’t raise rates in line with market expectations, it was its more hawkish tone thatContinue Reading
Gambling giant Tabcorp and eight Melbourne venues have been charged after allegedly allowing a 16-year-old to gamble at their venues almost 30 times in 2022. The venues charged include the Endeavour Group-owned Doncaster Hotel in Doncaster, Albion Charles Hotel in Northcote and Rose Shamrock & Thistle Hotel in Reservoir. OthersContinue Reading
The Australian share market has begun the week with a flat session, however, one company has seen its price tumble after a major government announcement. The ASX200 closed with a decline of just 4.60 points or down by only 0.06 per cent on Monday leaving the index at 7,289.50 points.Continue Reading
The European Union is demanding Australian winemakers stop using the term “prosecco” to label sparkling wine. A free-trade deal between the EU and the Australian government has been under negotiation for years but may soon finally come to fruition. If passed – and the EU gets its way – proseccoContinue Reading