Good morning, and welcome to Monday. Nick Visser here to guide you through the day's news. Here's what's on deck.
Federal Court Hearing on Grocery Discounts
The federal court will hold a hearing today on the Australian Competition and Consumer Commission's (ACCC) case against Coles and Woolworths. This follows the consumer watchdog's lawsuit filed in 2024, which alleges that the grocery giants misled shoppers by using "illusory" discounts on hundreds of products. The hearing is scheduled to take place in Melbourne, with the court noting that the ACCC is seeking "a significant penalty" for the alleged breaches of consumer law. This case highlights ongoing concerns about transparency and fairness in retail pricing practices.
Labor Releases Budget Figures
Last night, the Labor party released numbers indicating that the federal budget would be $14 billion worse off over two years if the Coalition had won the 2025 election. Treasurer Jim Chalmers stated that these figures demonstrate how Angus Taylor and Jane Hume "blew up their economic credibility" during the election campaign. The release aims to underscore the fiscal differences between the major parties and their approaches to economic management.
Winter Olympics Medal Update
Australia has secured up to five medals at the Winter Olympics in Milan, with skier Matt Graham recently earning a bronze in the new dual moguls event. After his achievement, Graham told reporters, "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." His performance adds to Australia's growing tally and showcases the nation's competitive spirit in winter sports.
Stick with us for more updates throughout the day.
