Business

Woolworths chief executive Amanda Bardwell has conceded the supermarket giant’s performance is not up to scratch and vowed to restore it to growth after profits slumped.

Woolworths shares have tanked by double digits in early trading, a day after Coles posted its best gains in five years.

THE ECONOMIST: Legal challenges loom as Donald Trump’s attempt to fire the Fed’s Lisa Cook leaves credibility under a cloud.  

A sharp rebound of inflation will “unsettle” the Reserve Bank and risks delaying the next dose of mortgage relief for Aussie borrowers.

The Universal Postal Union says 25 countries, including Australia, have suspended goods consignments to the United States amid uncertainty over a Trump administration tax rule.

The Reserve Bank is keeping a close eye on inflation and jobs data as it considers its next move on interest rates.

THE NEW YORK TIMES: Disruptions to trade flows are already becoming apparent and Japanese manufactures are finding the uncertainty unnerving.

The boss of Australia’s biggest retail landlord Scentre Group says the company is engaging with governments and potential capital partners to transform its vast land holdings into thousands of new dwellings.

A fourth interest rate cut looks likely later this year after the Reserve Bank revealed growing confidence that unemployment and inflation were on the right track.

The unprecedented move constitutes a sharp escalation in the US President’s battle to exert greater control over what has long been considered an institution independent from day-to-day politics.

Ebbing iron ore prices have caused a 41 per cent profit crunch at Andrew Forrest’s Fortescue, as the deadline for one of its leading decarbonisation projects gets punted back to next year.

Coles boss Leah Weckert says the supermarket giant is harnessing the popularity of its premium private-label range as shoppers look for affordable treats and ways to recreate restaurant experiences at home.

THE ECONOMIST: How Donald Trump, debt and tariffs undermine the Federal Reserve’s fight against inflation in the US.

Intel has warned of ‘adverse reactions’ from investors and employees to the Trump Administration taking a stake in the company.

Supermarket giant Coles has announced an eye-watering full-year profit as Australians spend more in each shop.