Good morning,

The spotlight of a Senate inquiry was curtailing the ability of Coles and Woolworths to ratchet up their shelf prices with the supermarket giants desperate to protect their reputations, former ACCC boss Alan Fels said.

Meanwhile, Star Entertainment was spying on the diary entries of special casino manager Nicholas Weeks, including his meetings with lawyers, as part of a “process of preparing for war” with the regulator, a NSW inquiry has been told.

And logistics boss Christine Holgate said Iran’s attack on Israel will disrupt international trade and supply chains as she advocated stronger cooperation with China amid improving relations. 

And for those in the legal field, The Australian is launching a new, free newsletter Ipso Facto with scoops, analysis and comment each week. Sign up here.

Five things to know this morning

1. Local stocks are set to open lower as Wall Street falls. Woolworths and Coles bosses front supermarkets inquiry.
2. Fugitive developer Jean Nassif borrowed $7.1m from his now collapsed Toplace empire, much more than the $3.3m he originally acknowledged, an investigation from administrators DvT has revealed ahead of today's creditors meeting.
3. Double-digit returns are on the cards for super funds this year with the median balanced option notching up 8.8 per cent growth over the nine months to the end of March, new research shows.
4. Senior executives at Harvey Norman and Latitude Finance allegedly signed off on a promotion campaign spruiking no interest and no deposit credit cards, in an advertising blitz that now sees the companies facing the ire of the corporate regulator.
5. Just one in three Australians retire on their own terms, with most pushed out of the workforce due to health issues or redundancy, according to a new survey from Colonial First State.