Key events
Jonathan Barrett
Court battle begins over Coles’ grocery prices
A highly anticipated federal court battle between the competition regulator and supermarket giant Coles begins today, testing allegations the retailer offered “illusory” discounts on hundreds of everyday products.
The Australian Competition and Consumer Commission (ACCC) is seeking large penalties and community service orders against Coles, which, along with Woolworths, controls two-thirds of the Australian grocery market.
A similar case against Woolworths is expected to be heard at a later date.
The 10-day hearing in Melbourne will scrutinise pricing practices involving hundreds of products, from instant coffee to chocolate biscuits, over an extended period.
The regulator alleges that Coles temporarily inflated prices before marking the items as discounted under promotions like “Down Down,” in a practice known as “was/is” pricing.
Coles is defending the claims, arguing pricing was a response to increased costs from suppliers.
The case starts during a period of reigniting inflation, with groceries and other household costs rising strongly again.
Krishani Dhanji
Labor releases numbers showing budget would be $14bn worse off under Coalition
The government has released figures that, it says, show the federal budget would be $14bn worse over two years if the Coalition had won the 2025 election.
The figures released by Labor claim those budget deficits would add $22bn to gross debt over the coming decade, resulting in $8.4bn in extra interest payments, based on the Coalition’s costings that were released ahead of the election.
The Coalition’s nuclear plan is not included in the figures.
The treasurer, Jim Chalmers, says the numbers demonstrate Angus Taylor and newly elected deputy leader, Jane Hume “blew up their economic credibility” during the election campaign.
Chalmers said:
Angus Taylor is the poster child for the Coalition’s economic insanity. These figures show Angus Taylor has no credibility on the economy and that’s exactly why the Liberal Party is a complete bin fire.
Angus Taylor and Jane Hume blew up their election campaign, they blew up their economic credibility, and these numbers show they would have blown the budget too.
Aussie medal party continues with dual moguls bronze
Australian skier Matt Graham bounced back from individual disappointment to add another medal to the one he collected eight years ago in Pyeongchang and continue the Aussie success story at Milan-Cortina, AAP reports.
He became the country’s third moguls medallist at the Games on Sunday. It was Australia’s record-extending fifth medal of the Olympics and was hard-won given Graham’s multiple injuries that have included a fractured neck, collarbone, broken ribs and lung contusions.
Graham clawed his way on to the podium with a win over Japan’s Takuya Shimakawa in the small final, which decided the bronze medal. The Australian outscored his rival 20 to 15. The Canadian all-time great Mikael Kingsbury won the gold medal after taking silver in the individual.
Allow Instagram content?
This article includes content provided by Instagram. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. To view this content, click ‘Allow and continue’.
Good morning
Good morning, and welcome to Monday. Nick Visser here to guide you through the day’s news. Here’s what’s on deck:
The federal court will hold a hearing on the Australian Competition and Consumer Commission’s (ACCC) case against Coles and Woolworths today after the consumer watchdog sued the grocery giants in 2024 over allegations they misled shoppers using “illusory” discounts on hundreds of products. The hearing will take place in Melbourne, with the court noting the ACCC is seeking “a significant penalty” for the alleged breaches of consumer law.
Australia is up to five medals at the Winter Olympics in Milan after skier Matt Graham took home bronze in the new dual moguls events. “This means a lot, the other day was a bit bittersweet, coming fifth when I knew I had enough to get on the podium so today was a bit about redemption, I was fired up,” he told reporters after the achievement.
Stick with us.
