13:55:24 EDT Thu 09 May 2024
Enter Symbol
or Name
USA
CA



Empire Company Ltd
Symbol EMP
Shares Issued 151,912,608
Close 2023-09-14 C$ 36.27
Market Cap C$ 5,509,870,292
Recent Sedar Documents

Globe says Loblaw, rivals see Liberals target grocers

2023-09-15 08:40 ET - In the News

See In the News (C-L) Loblaw Companies Ltd

The Globe and Mail reports in its Friday, Sept. 15, edition that the federal government is taking aim at high food prices with sweeping changes to the Competition Act that target large grocery chains, and is threatening them with tax measures if food prices do not stabilize. The Globe's Irene Galea and Jason Kirby write that the proposed changes to the Competition Act follow promises by Ottawa last fall to overhaul Canada's four-decade-old competition regulations and improve affordability amid a cost-of-living crisis. On Thursday, Prime Minister Justin Trudeau laid out the proposed changes. Grocery stores are frequently criticized for having low competition and high prices. The PM said, "Businesses should be competing for your business, not unfairly profiting from it." The first legislative amendment to the Competition Act would give the Competition Bureau the power to compel companies to provide information for market studies. Industry Minister Francois-Philippe Champagne said the Competition Bureau's market studies of the grocery industry this summer were hampered by a lack of co-operation by companies. Mr. Champagne added: "Companies did not necessarily voluntarily provide that information. This will fix that."

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