Australia news live: Coles in court showdown with competition watchdog over claims of fake discounts

Retailers face penalties if they profited from promotions that breached consumer law. Follow today’s news liveIMF finds Australia managing ‘soft-landing’ on economic recoveryThe International Monetary Fund released a report on Sunday saying the Australian economy was managing a “soft landing” but said inflationary pressures had “re-emerged” in recent months.Executive directors welcomed Australia’s progress toward a soft landing and internal balance, notwithstanding uncertainties regarding residual excess demand and supply capacity in the context of weak productivity growth.It was a very positive report about Australia and about the government’s economic plan, it was a powerful endorsement. … It described our budget management as effective. Continue reading...