Woolworths boss Brad Banducci has announced his resignation, amid scrutiny over alleged price-gouging tactics used by the Australian supermarket giant.

Woolworths - the nation's largest retailer - and its rival Coles control 65% of the market, and both have been facing intense criticism over their business models as the country battles a cost-of-living crisis.

In a statement to the Australian Stock Exchange (ASX) on Wednesday, Woolworths Group announced Mr Banducci would retire in September.

In the ASX statement, the company also announced a massive half year profit of A$929m (£482m; $608m), in part thanks to growing margins on its food businesses.

On Monday night, the Australian Broadcasting Corporation aired an investigation which accused both Coles and Woolworths of price-gouging and unfair dealings with suppliers and farmers.

Four Corners reporter Angus Grigg spoke to insiders, experts, and the bosses of both supermarkets, and said Mr Banducci's reaction was "startling".

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