Connect with us
Byron Bay News and Weather copy
Mt Warning News and Weather copy
Kyogle News
Grafton News and Events copy
Byron Bay News and Weather copy
Mt Warning News and Weather copy
Kyogle News
Grafton News and Events copy
previous arrow
next arrow

News and Reviews

Coles and Woolworths Face Scrutiny in ACCC Hearings Over Supermarket Practices

Published

on

By

Coles and Woolworths ACCC
Advertisements
Care Connect Home Care Packages

Coles and Woolworths Face Scrutiny in ACCC Hearings Over Supermarket Practices

 

By Robert Heyward

Coles and Woolworths are under the spotlight as they provide evidence at this week’s ACCC hearings, part of an ongoing inquiry into supermarket practices.

The National Farmers’ Federation (NFF) Horticulture Council is urging the ACCC to delve deeply into the supermarkets’ buying processes, which it claims exploit growers due to the perishable nature of their products.

“Horticulture underpins Australia’s national food security, supplying 98% of the country’s fresh fruit and vegetables,” said Jolyon Burnett, Chair of the NFF Horticulture Council. “Yet growers are at the mercy of Woolworths and Coles due to their dominant market position—one of the most significant retail duopolies in the developed world—and the time-sensitive nature of their produce.”

Burnett highlighted the limited bargaining power of growers, who are often forced to accept unfavourable terms to avoid their produce becoming unsellable. The ACCC has described these situations as involving “take-it-or-leave-it” terms and exploitative practices.

Adding to the challenge is the lack of long-term contracts with major supermarkets. Instead, growers face weekly purchasing arrangements that pit them against one another. “This practice has gone on for decades, leaving growers with stagnant prices for 15 years while supermarket profits soar,” Burnett noted.

Analysis reveals the disparity: a major supermarket has delivered a 13% annual return to shareholders over 25 years, far outpacing the 7.3% return of superannuation funds. “For growers, such returns are unthinkable,” Burnett stated. “Instead of sharing in the supermarkets’ billion-dollar profits, farmers’ productivity gains have been absorbed, resulting in a generational wealth shift to senior executives and shareholders.”

The NFF Horticulture Council is calling on the government to prepare for decisive action following the ACCC inquiry’s findings. Burnett emphasised the need for reforms to ensure fairness for both growers and consumers, including capping further market share growth by supermarkets and limiting vertical and horizontal integration.

“These supermarkets are already big enough,” Burnett concluded. “It’s time for a fairer system that supports the sustainability of Australian agriculture.”

 

For more local news, click here.

Advertisements
Tenterfield-The Bowlo

Ballina News

“Australian lightweight champion from lil ol’ Swan Bay”

Published

on

By

Sunny McLean with his coach, Scott Smith. Boxing Northern Rivers News
Advertisements
Care Connect Home Care Packages

“Australian lightweight champion from lil ol’ Swan Bay”

 

By Samantha Elley

Maddog boxing’s Sunny McLean has been going from strength to strength this past year, grabbing titles from each of the events he has been fighting in.

Sunny McLean and his coach, Scott Smith, who runs Maddox Boxing, were recently picked to represent Queensland as the fighter and coach team to compete in the national titles in Gosford.

Sunny won all his elimination bouts and beat the NSW champion in the gold medal fight, to become the newly crowned Australian champion in the lightweight division.

They were surprised with a visit from Jason and Andrew Moloney, world champion professional boxers.

“Every state in Australia was there with all the best fighters and the (Moloney brothers) came to support us, so we felt so special,” said Scott.

“They came to help me prepare Sunny for his last two fights in this event.”

Sunny was competing for Queensland as he already holds the title of QLD/NSW interstate champion.

“His first opponent, the referee stopped the fight in the 3rd round,” said Scott.

“His second opponent was the favourite from Tasmania and Sunny won that fight to go through for the gold medal against the NSW champion.

“Andy (co-trainer) and I worked out a plan to beat him and Sunny did exactly what he was asked and never last control of the situation.

“He is now the Australian lightweight champion from lil ol Swan Bay.”

 

For more local news, click here.

Advertisements
Tenterfield-The Bowlo
Continue Reading

News and Reviews

Millions of Aussies Gain Big From Surprising Super Fund Performance

Published

on

By

NSW-Northern-Rivers-Breaking-News
Advertisements
Care Connect Home Care Packages

Millions of Aussies Gain Big From Surprising Super Fund Performance

 

By Ian Rogers

Millions of Australians are reaping unexpected rewards from their superannuation funds in 2024, thanks to a surprising surge in global share markets. Many super members are thousands of dollars better off without even realising it, as median growth funds post impressive gains.

Super Funds Shine in 2024

According to Chant West, the median growth fund – comprising 61-80% in growth assets – has delivered a 10.3% return year-to-date, well above the typical long-term target of 6%.

What This Means for Members:

  • Male Example: A 44–49-year-old man with an average super balance could see their fund grow by $24,432, even without contributing extra.
  • Female Example: A woman in the same age group could gain $16,284, highlighting the power of compounded returns.

“Super fund members in higher-risk portfolios fared even better, benefitting from the strength of global share markets,” said Mano Mohankumar, Senior Investment Research Manager at Chant West.

October: A Mixed Month

While October saw declines in both shares and bonds, super funds managed to post flat returns, thanks to a 3.9% boost from unhedged assets driven by the Australian dollar’s fall.

Key factors influencing performance included:

  • US Election Anxiety: Market jitters around the US presidential race dampened returns in October.
  • Interest Rate Movements: The US Federal Reserve’s smaller-than-expected 0.25% rate cut calmed markets but tempered expectations for further reductions.

A Strong Year Overall

2024 is shaping up to be a standout year for super funds, following a better-than-expected return of 9.9% in 2023.

“If funds maintain this momentum, it would be a tremendous outcome for super members,” Mohankumar said.

Super: A Long-Term Game

Since the introduction of compulsory super in 1992, the median growth fund has achieved an average return of 8% per annum, outpacing inflation at 2.7%. This translates to a real return of 5.3%, well above the target range of 3.5%.

Even over the past 20 years – which included major economic downturns like:

  • The Global Financial Crisis (2007–2009)
  • The COVID-19 Pandemic (2020)
  • High Inflation and Rising Interest Rates (2022)

Super funds still delivered 7.2% per annum, comfortably exceeding expectations.

What Should Members Do?

Mr. Mohankumar reminded Australians of the importance of focusing on long-term outcomes:

“Superannuation is a long-term proposition. While there will be ups and downs, the system’s strong historic performance speaks for itself.”

Key Takeaways

  1. Significant Growth: Median growth funds are on track for a stellar year, boosting Australians’ super balances.
  2. Currency Boost: The falling Australian dollar provided a surprising tailwind for unhedged assets in October.
  3. Steady Over Time: Despite short-term volatility, super funds have consistently delivered strong long-term returns.

With rate cuts potentially on the horizon in 2025, the outlook for super fund performance remains optimistic. Members are encouraged to stay invested and focus on long-term growth to secure their financial future.

 

For more local news, click here.

Advertisements
Tenterfield-The Bowlo
Continue Reading

News and Reviews

Sprucing Up Your Garden For Christmas

Published

on

By

A couple creating a Christmas Garden
Advertisements
Care Connect Home Care Packages

Sprucing Up Your Garden For Christmas

 

By Liam Jennings

As the holiday season approaches, and it turns to the 1st of December, gardens everywhere are beginning to sparkle with festive cheer. This year, why not turn your outdoor space into a Christmas wonderland? With a little creativity, your garden can become the perfect backdrop for seasonal celebrations, family gatherings, or simply a cozy retreat to soak in the festive spirit.

Embrace Natural Decorations

One of the joys of decorating a garden for Christmas is the opportunity to use nature itself. Native trees and shrubs can be transformed into holiday centrepieces with a few simple additions. Wrap fairy lights around branches, hang baubles from limbs, or drape garlands for an enchanting look.

Potted plants, too, can be dressed for the season. Tie ribbons around pots or use small ornaments to decorate leafy greens. You might even create a “living Christmas tree” by adorning a large potted plant with festive trimmings.

For those who love crafting, consider making your own decorations using natural materials. Pinecones, dried flowers, and twigs can be sprayed with metallic paint, dusted with glitter, or left in their rustic form for a more organic look. String these items together to create unique garlands or hang them individually from garden structures.

Lighting Up the Night

Christmas lights are a staple of festive decorating, and they truly shine when used outdoors. Solar-powered string lights are an energy-efficient option that works perfectly in gardens. Wrap them around trees, fences, or pergolas to create a soft, glowing ambiance.

For a more dramatic effect, consider adding pathway lights or lanterns. These can guide guests through your garden while adding a touch of magic to the setting. LED projectors are another popular choice, casting seasonal patterns like snowflakes or stars across walls, fences, or even the ground.

If you’re feeling adventurous, light-up garden sculptures such as reindeer, stars, or Santa sleighs can take your garden’s festive charm to the next level. These statement pieces are a surefire way to captivate visitors.

A christmas garden with heaps of christmas lights

Photo by Broadsheet

Festive Garden Tablescapes

For those planning outdoor Christmas gatherings, a beautifully decorated garden table is a must. Start with a festive tablecloth or runner, and layer it with greenery such as eucalyptus, holly, or ivy. Candles or LED tea lights in glass holders add a warm, inviting glow.

Incorporate ornaments, small figurines, or themed tableware to tie everything together. Miniature Christmas trees or floral arrangements can serve as elegant centrepieces. If space allows, set up a hot chocolate or mulled wine station nearby, complete with festive mugs and toppings.

Incorporate Seasonal Plants

Certain plants are synonymous with Christmas and can add an extra layer of festive cheer to your garden. Poinsettias, with their vibrant red and green leaves, are a classic choice and can be placed in pots around the garden. Other options include holly, mistletoe, or even seasonal herbs like rosemary and thyme, which can double as fresh ingredients for holiday meals.

For a Southern Hemisphere twist, use plants that thrive in warm climates but evoke a Christmas feel. Think of bright red bottlebrush flowers, festive grevilleas, or even a potted palm decorated with lights and ornaments. These unique touches can create a memorable and seasonally appropriate look.

DIY Christmas Garden Projects

Get the whole family involved in decorating with fun DIY projects. Create homemade wreaths using branches, leaves, and berries from your garden. These can be hung on gates, fences, or garden doors.

Another idea is to set up a “Christmas tree” using a ladder. Place it in your garden and decorate it with lights, garlands, and ornaments. This creative take on a traditional tree is easy to assemble and can be customised to suit your style.

For those with kids, setting up a “Santa’s workshop” area in the garden can be a delightful activity. Use garden tools and a few decorations to create a festive play space where children can imagine themselves as Santa’s helpers.

A christmas garden

Welcoming Wildlife to Your Festive Garden

Christmas is a time of giving, and what better way to share the spirit than by creating a welcoming space for wildlife? Decorate bird feeders with edible ornaments like seed balls or fruit garlands. These not only look festive but also provide food for feathered visitors.

Butterflies and bees can be drawn to flowering plants, so consider adding blooms to your garden that will thrive during the season. For nocturnal wildlife, leave small water dishes or create sheltered spaces where they can safely rest.

Bringing It All Together

As you transform your garden into a festive paradise, don’t forget the joy it can bring to others. Invite friends and family to admire your handiwork or use the space for a Christmas picnic under the stars. With a little imagination and effort, your garden can become the heart of your holiday celebrations.

So, grab your lights, ornaments, and greenery, and start planning your garden Christmas decorations today. Whether you go all-out with dazzling displays or keep it simple with understated charm, your festive garden is sure to be a highlight of the season.

 

For more local news, click here.

Advertisements
Tenterfield-The Bowlo
Continue Reading

NRTimes Online

National News Australia

Facebook

Latest News

Verified by MonsterInsights