THE NEWS WRAP: Brumby’s promises to behave after carbon tax blame claim
Bakery chain Brumby’s has promised the consumer watchdog that it will not make any further claims about the impact of the carbon tax upon its prices.
The Australian Competition and Consumer Commission said it has accepted a court-enforceable agreement from Brumby’s parent company, Retail Food Group, that it will not falsely link price rises to the carbon tax.
The undertaking follows an internal memo sent by Brumby’s managing director to franchisees, in which he said that they should “let the carbon tax take the blame” for price hikes.
Inghams put up for sale
Inghams Enterprises, Australia’s largest poultry producer, has been put up for sale, raising the possibility of another Australian brand falling into foreign ownership.
The company, which was founded in 1918 and has production and processing facilities in Australia and New Zealand, has notched up $2 billion in sales so far this calendar year.
Yahoo appoints latest CEO
Yahoo has appointed its third chief executive in the space of a year, after hiring former Google executive Marissa Mayer.
Mayer takes the helm at a difficult time for Yahoo, which has struggled to compete with the growth of rivals such as Facebook and Google. In May, CEO Scott Thompson had to step down after admitting he had faked parts of his CV.
The Dow Jones Industrial Average fell by 29.52 points, or 0.23%, to 12,747.57. The Australian dollar was up to US102.48 cents.