‘We’ve got to break them up’: farming groups say supermarkets use market power to distort prices

Claim comes amid state and federal inquiries into Australian grocery sector and what producers say is a widening gap between wholesale and shelf prices

Farming groups have accused the major supermarkets of using their power to distort the market, leading to elevated prices for shoppers and low prices for producers.

The claim comes amid falling global prices for agricultural goods that have failed to dent grocery bills, and growing scrutiny of supermarket pricing practices through newly announced federal and state parliamentary inquiries.

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Queensland launches inquiry into grocery price gouging following premier’s meeting with major supermarkets

Executives of Woolworths, Coles and Aldi have agreed to appear at hearings, Steven Miles said, amid concerns from farmers and consumers

Queensland’s state government will launch an inquiry into alleged grocery price gouging – despite the jurisdiction having few powers to combat the issue, the premier said.

The premier, Steven Miles, said terms of reference are being drafted and the committee will be formed in the first sitting week of parliament for the year, next month.

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‘Greedy and dishonest’ touts sold tickets worth £6.5m, court hears

Ed Sheeran and Little Mix fans among those targeted by firm that resold on Viagogo and StubHub

Ticket touts acting out of “greed and dishonesty” sold tickets worth £6.5m to music fans, a court has heard, as a woman known as the “Ticket Queen” pleaded guilty to fraudulent trading nearly seven years after being named in an Observer investigation.

TQ Tickets Ltd, owned by Maria Chenery-Woods of Norfolk, used fake identities to hoover up large numbers of tickets for acts such as Ed Sheeran and Little Mix, prosecutors for National Trading Standards said.

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BT scraps above-inflation price rises for mobile and broadband customers

UK’s mobile and broadband firms were accused of ‘greedflation’ last year by the Guardian

BT has become the first major telecoms company to scrap controversial above-inflation price rises for mobile and broadband customers – but not before pushing through a final increase this year.

The owner of mobile operator EE has moved to address the pressure on consumers from rising household costs during the cost of living crisis, after telecoms companies were criticised for increasing bills.

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French post office opens changing room for online shoppers

Customers can collect their parcels and try on items in one trip during trial at La Poste branches

It is an increasingly common irritant of modern life. You order an item of clothing online; you wait with anticipation for it to arrive, and five minutes after it has arrived you’re packaging it up because it doesn’t fit.

For shoppers in France, however, the national post office may have the answer – or at least a way of making the process less logistically challenging. It is experimenting with in-store changing rooms to cater to people who want to quickly return purchases they do not want.

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Queensland farmers call for probe into price gouging after premier writes to grocery giants

Peak body says farmers aren’t getting ‘fair value’ as Steven Miles demands answers from supermarkets on overcharging claims

A peak body representing Queensland farmers has increased pressure for an inquiry into price gouging after the state’s premier wrote to the big supermarket chains demanding answers over a “widening gap” between the prices farmers receive and those customers pay.

The Queensland premier, Steven Miles, sent a letter to the CEOs of Coles, Woolworths, IGA and Aldi on Friday telling them about his “growing concern” about the disparity between checkout prices and the value farmers receive for their stock.

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UK shoppers spent £13.7bn on groceries in run-up to Christmas

Consumers buy more items – including plenty of parsnips and sprouts – to beat last year’s spend by 7%

UK shoppers spent £13.7bn on groceries in the run-up to Christmas – 7% more than a year before – as they sought out bargains and switched to discounters to try to offset price inflation.

The number of items bought rose by 2% in December as prices climbed by 6.7%, according to analysts at Kantar, although that was down from 9.6% in November – making it the biggest monthly drop in inflation the data firm has ever recorded.

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Call to end ‘cruel’ winter rises as energy bills go up by £100 a year

Campaign groups call on regulator to abolish January bill increase, saying households are facing an ‘assault from all sides’

Midwinter energy price increases should be abolished to protect households from unaffordable bills “at the worst possible time”, according to a coalition of leading charities.

Charities and campaign groups have called on Ofgem, the energy regulator, to scrap future January bill increases as it prepares to raise the cap on energy prices by 5% from Monday.

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Inflation calculator: find out how much UK household price rises affect you

This online tool will help you discover what is contributing to your household’s cost of living increases

Inflation has been soaring in the UK, with people being hit by higher prices for everyday essentials, but cost of living pressures are finally starting to ease.

The latest inflation rate for the 12 months to November 2023 means that goods and services cost 3.9% more than they did a year ago – in most cases, surpassing any pay rises workers can expect to receive.

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UK telecoms firms told to safeguard at-risk customers in switch to digital landlines

Minister’s move follows reports of pensioners left unable to call for help

Telecoms providers have been forced to pause plans to impose digital phone lines on vulnerable customers after reports of pensioners left unable to call for help during power cuts.

Companies including BT and Virgin Media have been forced by Michelle Donelan, the technology secretary, to sign a charter to safeguard at-risk households during the nationwide switchover from analogue to internet-based landlines.

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Lifetime Isas: calls to increase price cap that ‘fines’ first-time buyers

People who want to buy property costing more than £450,000 say they unfairly face losing money

Campaigners are pressing for changes to a UK government scheme for would-be first-time buyers that “fines” people if they use it to buy a home costing more than £450,000.

Martin Lewis, the founder of MoneySavingExpert.com, is among those calling for an urgent revamp of the rules that apply to lifetime Isas, which let people save for a first home or for their retirement.

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Currys boss: minimum wage hike shows government does not ‘care’ about retail

Planned 10% UK increase as business rates rise will put pressure on already overburdened industry, says Alex Baldock

The boss of Currys has accused the government of failing to “understand or care” about UK retailers by pushing through a “big hike” in the UK’s minimum wage.

Alex Baldock’s comments come weeks after chancellor Jeremy Hunt announced plans to increase the legal minimum wage for the UK’s lowest paid workers to £11.44 an hour, representing a hike of almost 10%, from April 2024. The move will force employers to pay full time workers around £1,800 more per year.

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Thames Water appoints Chris Weston as boss with up to £2.3m package

Former British Gas executive tasked with leading turnaround in face of debts and controversy over sewage

Thames Water has appointed a former British Gas executive as its new boss with a pay package of up to £2.3m a year and tasked with leading a crucial turnaround as it faces mounting debts and controversy over dumping sewage in Britain’s waterways.

Chris Weston replaces Sarah Bentley, who resigned with immediate effect in June amid a backlash over the firm’s poor environmental track record. Weston will take up the role on 8 January.

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UK ad watchdog to crack down on ‘biodegradable’ and ‘recyclable’ claims

Consumers left angry and dismayed when they found out the truth about these terms, says Advertising Standards Authority study

Plastic bottles, takeaway cups and food packaging that could take an unlimited amount of time to break down are being advertised as “biodegradable”, with the advertising regulator calling for more clarity on such claims from businesses.

British consumers believe they are making green choices while disposing of waste when they are often not, according to a new report. The study, from the Advertising Standards Authority (ASA), based on extensive interviews with consumers, found widespread misunderstandings around common terms such as “biodegradable”, “compostable” and “recyclable”, leaving participants angry when they discovered what they meant.

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Iceland boss hits out at parent ‘exploitation’ in baby milk market

Richard Walker calls for price cap on infant formula as competition watchdog finds evidence of greedflation

The boss of Iceland has hit out at “exploitation” of new parents and joined calls for a price cap on baby formula after the competition watchdog found evidence of greedflation by leading manufacturers.

The Competition and Markets Authority (CMA) on Wednesday revealed manufacturers had increased prices by more than their costs during the inflation crisis, fattening profit margins and imposing an average 25% increase on shoppers in two years. It warned competition could be hampered because the market is dominated by two companies, Danone and Nestlé, which between them account for 85% of sales.

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Leading brands misled consumers about ‘premium’ dishwashing tablets, Australian court finds

Procter & Gamble, maker of 30-Minute Miracle and Fairy, and Finish Ultimate Plus manufacturer Reckitt Benckiser engaged in misleading conduct, the federal court ruled

Two big names in the highly competitive Australian dishwashing tablet market violated consumer law with unscientific claims that their premium products were better than others in their own range, a court has found.

Procter & Gamble, the maker of 30-Minute Miracle and Fairy dishwashing tablets, was found to have engaged in misleading conduct, making representations that were liable to give consumers the wrong impression.

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One in four adults in UK to buy now, pay later for Christmas, study shows

Citizens Advice warns such credit schemes risk delivering ‘knockout blow’ to household finances

More than a quarter of adults in the UK will use buy now, pay later to help with festive spending, research suggests, with the proportion rising to more than half of parents with young children.

The survey for Citizens Advice also found 11% of respondents used such credit schemes to pay for groceries, a proportion that rose to 35% for regular BNPL users.

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Ukraine war has marked a turning point in Europe’s gas consumption, says IEA

Global energy watchdog says Russia cutting supplies has prompted efficiency upgrades and move to heat pumps

The Ukraine crisis has marked a turning point for Europe’s gas consumption, which is expected to fall again this year as homes and firms embrace efficiency upgrades and heat pumps, according to the global energy watchdog.

A report from the International Energy Agency found that the continent’s developed economies reduced their gas use by 15% in 2022 after Russia cut off flows after its invasion.

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Dick Smith criticises Facebook after scammers circulate deepfake video ad

Businessman warns people to ‘never ever’ purchase from advertisers on Facebook and Instagram after ‘totally fraudulent’ video appears

Australian businessman Dick Smith has urged people to stop buying anything from Facebook or Instagram after a deepfake video of him spruiking an investment opportunity was circulated by scammers online.

Smith posted a message on his personal website on Monday afternoon about the video, which was designed to appear like a segment on A Current Affair, featuring host Ally Langdon apparently interviewing him, Gina Rinehart and Andrew Forrest.

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Thousands of HSBC customers in UK unable to access online banking services

Consumers report problems using bank’s app on one of the busiest shopping days of year, Black Friday

Thousands of HSBC customers reported they were unable to access its online and mobile banking services on one of the busiest online shopping days of the year – Black Friday.

More than 4,000 customers said they could not access their accounts via the HSBC app on Friday, according to Downdetector, which tracks and collates website outages and complaints.

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