The Reserve Bank of Australia maintained its official interest rate at 4.35% due to a slowing economy and rising unemployment. This decision offers little relief to mortgage holders facing increased costs from previous rate hikes. Higher fuel prices are contributing to inflation.
The Australian Competition and Consumer Commission (ACCC) has sued Grill'd, alleging the burger chain engaged in greenwashing by misrepresenting its 'Tree Day Tuesday' campaign. The ACCC claims Grill'd overstated donations towards tree planting, with only 4% of eligible burger sales resulting in a donation due to restrictive terms.
The Australian Competition and Consumer Commission (ACCC) has sued Grill'd, alleging the burger chain engaged in greenwashing by overstating donations for its Tree Day Tuesday campaign. The ACCC claims Grill'd misrepresented that $1 from every Tuesday burger would be donated, when restrictive terms meant only 4% of sales qualified, resulting in only $250,000 donated over three years.
Choice investigation found unsafe and banned products like toy lighters, gel blasters, and flick knives being sold on Australian online marketplaces. The consumer group has lodged a 'super' complaint with the ACCC, urging stricter product safety laws.
The closure of the Strait of Hormuz until August could trigger a global recession comparable to the 2008 crisis, according to Bloomberg citing Rapidan Energy Group. Analysts predict significant oil price hikes and demand reduction, potentially exacerbating existing economic vulnerabilities.
There have been tense exchanges in the Federal Court, with the judge overseeing the bombshell case between the ACCC and Woolworths questioning the consumer watchdog's case.
There have been tense exchanges in the Federal Court, with the judge overseeing the bombshell case between the ACCC and Woolworths questioning the consumer watchdog's case.
Woolworths misled customers through its 'Prices Dropped' promotion by temporarily inflating product prices before offering 'discounts', the ACCC alleged in federal court in Sydney. The consumer regulator claims 266 products between September 2021 and May 2023 used 'was/is' pricing tactics to create illusory discounts, with the final discounted price often higher than the original long-term price.
The sequel to Australia’s supermarket pricing wars is about to kick off in the federal court as the ACCC takes on Woolworths over what it argues are misleading pricing practices.
