Woolworths tries to repair its relationship with suppliers; Labor to get a new small business spokesperson: Midday Roundup

Woolworths is attempting to win back the affection of small businesses after the supermarket giant’s satisfaction rating with suppliers fell to its worst level in seven years.

The supermarket giant held a meeting with suppliers earlier this month in an attempt to tackle issues causing the dissatisfaction, according to The Australian.

However suppliers reportedly remain furious with Woolworths, saying there is a “disconnect” between what the retail giant does and what could be considered reasonable behaviour.

“Empathy is a critical ingredient in our relationship with ­Woolworths,” one Woolies supplier told The Australian.

“It sends a clear signal that they at least understand and ­acknowledge the challenges ­suppliers have and how we do try to do things for them. In the day-to-day business environment, Woolworths’ words and behaviours do not match up or currently deliver to that.”

Labor to get a new small business spokesperson

Labor will soon get a new small business spokesperson after Queensland MP Bernie Ripoll announced his retirement.

Late last week Opposition Leader Bill Shorten said he received two nominations for Labor’s frontbench after Senator Jan McLucas also revealed she would not contest the next election.

Brisbane MP Jim Chalmers and Senator Katy Gallagher will fill the absent roles, with one MP to become the opposition spokesperson for human services and the other Labor’s spokesperson for financial services.

Gallagher has a passion for health and is expected to take on the human services role, while Chalmers has a PhD in commerce and is expected to become Labor’s spokesperson for financial services, which includes small business.

Shares up after open

Aussie shares have nudged higher this morning following an early loss when markets opened.

Michael McCarthy, chief market strategist for CMC Markets, said the sharemarket is off to a modest start this morning ahead of a “packed economic calendar”.

“Despite surging European shares, a mid-session sentiment reversal in the US on Friday night could see enthusiasm wane over the trading day,” McCarthy said.

“Gains for oil may see energy stocks in the spotlight, but falling metals prices mean commodity influences are a mixed bag. The busy week ahead may dull investor appetites today.”

The S&P/ASX 200 benchmark was up 40.3 points to 5082.4 points at 11:47am AEST. On Saturday, the Dow Jones closed 113.35 points higher, up 0.70% to 16,314.67 points.