Australian supermarkets: billion dollar penalty put forward

Apr 8, 2024 · Australian supermarkets could face billions of dollars in penalties for severe abuses of power, under a new proposal tabled on Monday. ... Billion-dollar fines under supermarket proposal. April 8, 2024 ... Each company reported profits of more than $1 billion last financial …

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Australian Supermarkets: Billion Dollar Penalty Put Forward

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Australia Introduces Bill Imposing Big Fines For Supermarket …

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Nov 27, 2024 · Woolworths reported Australian food sales of A$48 billion (RM138.4 billion) in 2023, while Coles had A$37 billion and Metcash A$10 billion. ALDI does not disclose its …

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Australia Introduces Bill Imposing Big Fines For Supermarket …

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Nov 27, 2024 · Woolworths reported Australian food sales of A$48 billion (S$41.86 billion) in 2023, while Coles had A$37 billion and Metcash A$10 billion. Aldi does not disclose its earnings.

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Australia Proposes Mandatory Code Of Conduct For Supermarkets, …

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Apr 8, 2024 · SYDNEY – Australia’s major supermarkets could face fines of up to A$10 million ($6.6 million) if suppliers and growers are not treated fairly, an independent government …

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Big Supermarkets To Face Fines Of At Least $10m - ABC News

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Jun 27, 2024 · Australia's biggest supermarkets will soon face the threat of multi-billion-dollar fines if they're found to be rorting and bullying local suppliers. Live Stories More than 490 killed in …

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Australia Introduces Bill Imposing Big Fines For Supermarket ... - MSN

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The legislation would impose fines of up to 10% of annual turnover for breaches of the code, which mainly covers dealings with suppliers. Woolworths reported Australian food sales of …

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Senate Inquiry Calls For Laws To Make Price ... - Sky News Australia

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May 7, 2024 · It noted major supermarket chains Coles and Woolworths had combined sales of around $80 billion in the 2023 financial year and accounted for two-thirds of the food and …

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Will Australia impose billion-dollar fines on big supermarket chains?

CANBERRA (Reuters) - The Australian government on Wednesday introduced a bill into parliament that would impose potentially billion-dollar fines on big supermarket chains that fail to comply with an industry code of conduct ensuring they do not mistreat suppliers. ...

Could Australia's supermarkets be fined $10 million if they don't deal fairly?

Australia's supermarkets could face fines of up to $10 million if they don't deal fairly with suppliers, under new recommendations for a mandatory Code of Conduct. (ABC News) Australia's supermarket giants face multi-billion dollar fines under a mandatory code of conduct being proposed to protect suppliers and consumers. ...

Could Australia's supermarket giants be fined billions?

Add articles to your saved list and come back to them any time. Australia’s supermarket giants could be fined billions of dollars – the highest penalties for any industry – if they breach a revamped and mandatory code of conduct designed to fix an imbalance of bargaining power between the major grocery stores and small suppliers. ...

Should excessive prices be a crime in Australia?

The committee therefore recommended the Australian government amend laws to “make it an offence to charge excessive prices, in terms similar to the European Union provisions”. ...

Should Australian supermarkets have an anonymous retribution channel?

Emerson recommends the Australian Competition and Consumer Commission (ACCC) establish an anonymous channel to receive complaints about retribution and other code breaches. The government said in a statement that it was “cracking down on anti-competitive behaviour in the supermarket sector so people get fairer prices at the checkout”. ...

Are Australian supermarkets as competitive as they can be?

Our efforts will help to ensure our supermarkets are as competitive as they can be so Australians get the best prices possible,” Treasurer Jim Chalmers said on Monday in a joint statement with the assistant competition minister, Andrew Leigh, and the agriculture minister, Murray Watt. ...