A number of people are feared to have been killed in a horror mass shooting at Sydney's Bondi Beach, 9News understands.

The Albanese government is set to move ahead with plans to stop major supermarkets price-gouging customers from next year.

Starting on July 1, the government is set to legislate new standards that could hit guilty parties with fines of up to $10 million.

Treasurer Jim Chalmers said this was a sign the government was putting Australians first.

READ MORE: Search for missing backpacker to resume after breakthrough find of her mobile

"We know that people are under pressure and we want to make sure and we will make sure that supermarkets aren't price-gouging," he said.

It is a move that has garnered support across the political spectrum, with Nationals leader David Littleproud saying he believes it will also protect other industries.

"This is about making sure not just consumers are protected, but also farmers," he said

"There's intimidation and retribution for them."

Whilst supermarkets may cry foul with the new rules, Littleproud is sceptical of their concerns.

LIVE UPDATES: People told to take shelter as police respond to reports of shooting in Bondi

"If the supermarkets haven't done anything wrong under the existing codes of conduct, then there is nothing to fear," he said.

"They only fear it because they've done the wrong thing by you."

The treasurer also announced rules would be introduced that would make it mandatory for large retailers to accept cash for the purchase of essential items.

This includes supermarkets and fuel retailers, but smaller businesses will be exempt from these rules.

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A search for a backpacker missing for more than two years will resume after her phone was found.

Tasmania Police confirmed they would join an independent search for Celine Cremer, a 31-year-old Belgian tourist.

She was reported missing on June 26, 2023, after last being seen on June 17, 2023 in Waratah, a town on the island's north-west.

LIVE UPDATES: People told to take shelter as police respond to reports of shooting in Bondi

She is believed to have gone on a bushwalk at Philosopher Falls, but didn't return.

Her empty white Honda CRV was found in a car park.

A private search party, organised by Cremer's family and friends, was set up over the weekend with the support of police.

They found her mobile phone in the Philosopher Falls area yesterday.

Police are now looking into she may have got lost while on the way back to her car.

READ MORE: Teenager falls to her death while trying to take photo at lookout

"The phone was found in an area that has been extensively searched previously and phone data, as well as the location it was found, supports our theory that Celine may have, using an app on her phone, elected to leave the Philosopher Falls track to take a more direct route back to her car as daylight faded," Inspector Andrew Hanson said.

"We suspect she dropped her phone and continued without it, becoming disoriented in dense terrain."

It's the first sign of Cremer since she went missing, and Tasmania Police will now officially join the search. 

An initial search effort lasted two weeks, but was hampered by winter weather, including sub-zero temperatures, snow, and rain.

READ MORE: Controversial adult film star insists she will visit Australia despite being barred

Hanson said search efforts were postponed today due to weather, but that authorities had a clear plan of attack.

"When the search recommences, we will work together with the independent searchers to specifically re-search the area where the phone was located and the likely route Celine may have taken after losing it," he said.

Hanson said a police liaison officer had informed Cremer's family in Belgium.

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Two women have been killed in a car crash on the NSW Central Coast while on their way home from the Lady Gaga concert in Sydney.

Emergency services were called to the Pacific Highway near Wadalba near Wyong about 2.15am today following reports that a Mercedes sedan and a Kia hatchback had collided.

The driver of the hatchback, a 45-year-old woman, and her passenger, a 38-year-old woman, both died at the scene.

LIVE UPDATES: People told to take shelter as police respond to reports of shooting in Bondi

It is understood the women were friends driving home from the Lady Gaga concert at Sydney's Accor Stadium.

Police believe the Mercedes veered onto the wrong side of the road, resulting in a head-on collision.

The crash caused the sedan to roll several times.

The 49-year-old male driver of the sedan was treated at the scene for arm and leg injuries by paramedics.

He was taken to John Hunter Hospital, where he remains in a serious condition.

The driver will be subjected to mandatory testing.

The road was closed in both directions following the crash.

The highway remains closed in the southbound direction.

READ MORE: Teenager falls to her death while trying to take photo at Sunshine Coast lookout

A crime scene has been set up and police are investigating.

Both cars were seized for forensic examination.

Speed and the manner of driving will be a focus of the investigation police say.

A report will be prepared for the coroner.

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