Good morning,

A Greens-led Senate inquiry has hit out at the powerful supermarket chains with recommendations to curtail their power, heighten regulatory oversight and possibly break them up.

ANZ Bank chief executive Shayne Elliott says Australia’s economy may have passed the worst of its challenges while avoiding a hard landing despite “very real stresses in the economy”.

And a faster approval processes for new energy projects is needed , AGL chief executive Damien Nicks says. His comment came as the power giant upgraded its annual earnings guidance for the second time in three months. 

Five things to know this morning

1. ASX futures are pointing to a steady start after mixed Wall Street trade. Apple edges up following iPad unveil. Tesla falls amid deeper Autopilot probe, China push. Disney tumbles on disappointing earnings.
2. Iluka Resources boss Tom O’Leary says China is weaponising its domination of the rare earth market, driving down prices to keep alternative sources out of the market while buying up access to deposits in Australia..
3. A report into the causes of the Callide C power plant explosion in 2021 should not be made public because it was commissioned to protect the Queensland government’s legal position, the Federal Court heard on Tuesday.
4. The future of budget carrier Bonza is looking desperately grim, with the Federal Court told on Tuesday the airline’s fleet is to be removed from Australia and there’s nothing administrators can do to stop that from happening.
5. Energy transmission company Transgrid has been using as many Australian-made products as it could to build its new electricity transmission lines, but supply constraints meant much of it would come from overseas, chief executive Brett Redman told a conference on Tuesday.