Supermarket Crackdown: Australia Briefing

Good morning and welcome back, it’s Ainsley here with all the news you need to kick off your working week.

Today’s must-reads:

• Woolworths, Coles face possible <-bsp-bb-link state="{"bbDocId":"SFIKVHT1UM0W","_id":"00000190-4730-d497-a7fb-ef3d666a0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">fines
• Deal struck to keep Armaguard <-bsp-bb-link state="{"bbDocId":"SFJXTJT0G1KW","_id":"00000190-4730-d497-a7fb-ef3d666a0001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">afloat
• Aware Super hunts for real-estate <-bsp-bb-link state="{"bbDocId":"SFCUTYT1UM0W","_id":"00000190-4730-d497-a7fb-ef3d666a0002","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">assets

What’s happening now

The government is cracking down on unfair prices at the major supermarket chains, meaning Woolworths, Coles and their peers face potential multimillion dollar fines for <-bsp-bb-link state="{"bbDocId":"SFIKVHT1UM0W","_id":"00000190-4730-d497-a7fb-ef3d666c0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">anti-competitive behavior. Any supermarket with annual sales of more than A$5 billion must adhere to a strengthened Food and Grocery Code of Conduct, Treasurer Jim Chalmers said.

Armaguard will get a A$50 million ...