The Australian Competition and Consumer Commission, or ACCC, stated that Coles Supermarkets Australia and Brownes Foods Operations have each paid A$39,600 in penalties after the ACCC issued each company with two infringement notices for separate alleged contraventions of the Dairy Code of Conduct.
The ACCC said Coles breached the Code by publishing two separate milk supply agreements that required the supplier to provide milk exclusively to Coles, while also imposing a cap on the maximum volume of milk that could be produced. Brownes breached the Code by publishing two milk supply agreements that did not clearly specify the minimum prices that applied throughout the entire supply period.
Shares of Coles Group are trading at A$21.46, up 0.023%.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.