Good afternoon, Australia's biggest retailer Woolworths has surprised the market with a profit downgrade driven by slowing sales at its supermarkets as cost-of-living pressures hit shoppers, while new boss Amanda Bardwell faces a challenge in winning back the trust of its customers. Superannuation funds spent more than $400m on marketing and sponsorships in a year, while four funds dished out millions to the construction union. Falls by supermarket giants Woolworths and Coles helped drag down the sharemarket, and economists tipped a slowing in underlying inflation won't be enough for the RBA to cut interest rates soon. |