Reported about 10 hours ago
The Australian government has introduced a bill that could impose fines reaching billions of dollars on major supermarket chains like Woolworths and Coles if they violate a new mandatory code of conduct designed to protect suppliers. This legislation comes amid concerns that these large grocers misuse their market power to dominate competition and mistreat suppliers, an allegation they deny. From April next year, the law will apply to supermarkets allowing fines of up to 10% of their annual turnover for breaches, aiming to bolster fairness for consumers and suppliers in Australia's concentrated retail sector.
Source: YAHOO