Big two are much more profitable than overseas peers, analysis shows Supermarkets’ ‘cosy’ duopoly, Kevin Spacey cleared, Sinéad O’Connor dies | The Guardian
| | 27/07/2023 Supermarkets’ ‘cosy’ duopoly, Kevin Spacey cleared, Sinéad O’Connor dies |
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| | Morning everyone. While the cost of living is hitting Australians hard in the pocket, it hasn’t hurt the profits of the country’s big two supermarkets. In fact, a Guardian Australia investigation shows that Coles and Woolworths have fattened their margins since the pandemic when compared with the big two British chains, Tesco and Sainsbury’s. Our reporting also shows that supermarkets are almost never the cheapest place to buy fresh food. We have reports and appreciation after the death of Sinéad O’Connor, Kevin Spacey has wept after being cleared of sexual assault; and in sport it’s Matildas time, the final Ashes Test and a swimming world record. |
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| Australia | | ‘An emotional toll’ | State officials, vets and volunteers endured an agonising and draining two days as they struggled in vain to save a pod of whales stranded on a remote beach in Western Australia. | Exclusive | Coles and Woolworths have consistently expanded profit margins for their food businesses at the same time as counterparts in Europe report falling or mixed profitability, accounts show, with spikes of 5.3% and 5.9% respectively for the big two. Retail analysts blame lack of competition. In addition, an industry insider says our survey of 61 retailers showing supermarkets are more expensive for fresh food is “damning”. | PwC questions | Consultancy giant PwC promoted the work of a company it part-owned in a report it produced for the federal government about Australia’s digital mental health strategy – while being paid $1m for the “independent” advice. And it emerged that PwC made a confidential settlement with the ATO months before its tax scandal became public. | Cancer cost | The financial toll of cancer is leading Australians to delay or stop care, according to a new study, with some estimates finding most patients were paying over $10,000 in out-of-pocket expenses. | ‘Disproportionate’ | Queensland’s “blue card” system for a working with children check is being applied for jobs with no direct involvement with children, and could “disproportionately disadvantage” Indigenous people. |
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| Full Story | | You’re cutting back, but will that save the economy? As Australian cut back on everything from concerts to pets, Jonathan Barrett breaks down some surprising changes in our spending and Greg Jericho reflects on the lessons learned from past recessions. | |
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| In-depth | | Sydney is leading a rebound in house prices across Australia with a median price “hyper-growth” of $500 a day during the first half of the year, according to Domain. The latest fall in inflation could also help prices with expectations growing that the Reserve Bank will maintain its pause on rate hikes. But it still might not be safe to bet on it. Find out why here. |
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| Not the news | | Geoff Wilson (pictured right) has completed the only wind-assisted crossing of the Sahara and the fastest unsupported crossing of Greenland. Now he is about to embark on Project Zero, a seven-leg two-year expedition that will promote the concept of “carbon neutral exploring”. He talks to Dwayne Grant about a journey that starts with a treacherous seven-week voyage across the Southern Ocean. |
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| The world of sport | | Women’s World Cup | Matildas fans will be hoping that the second-string forwards can step up amid the absence of Sam Kerr and Mary Fowler when the team take on Nigeria tonight. In the same in group, it was heartbreak for Ireland last night who went down 2-1 to Canada in Perth. | Swimming | Mollie O’Callaghan finished strongly to break the longest-standing world record in women’s swimming, claiming the 200m freestyle title in a time of 1min 52.85sec at the world championships in Japan. | Men’s Ashes | Pat Cummins insists Australia feel a strong sense of unfinished business as they attempt to claim a first series win on English soil since 2001 when the fifth Test starts at the Oval today. | Rugby union | After two very poor performances, the Wallabies are banking on the inspiration of underdog status in the hunt for a Bledisloe Cup upset this Saturday. |
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| What’s happening today | Canberra| Australian Electoral Commission to release details of new House of Representatives seat counts. | Wellington | Prime minister Anthony Albanese will be in New Zealand for the annual leaders’ meeting. | Canberra | International Agricultural Research Centre chief Andrew Campbell addresses the National Press Club. |
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| Brain teaser | And finally, here are the Guardian’s crosswords to keep you entertained throughout the day – with plenty more on the Guardian’s Puzzles app for iOS and Android. Until tomorrow. | |
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