09:11:28 EDT Thu 09 May 2024
Enter Symbol
or Name
USA
CA



Empire Company Ltd
Symbol EMP
Shares Issued 151,300,850
Close 2023-11-03 C$ 39.66
Market Cap C$ 6,000,591,711
Recent Sedar Documents

Globe says politicians cloud outlook for Metro, others

2023-11-06 07:02 ET - In the News

See In the News (C-MRU) Metro Inc

The Globe and Mail reports in its Saturday edition that government interference is the latest worry for investors. The Globe's David Berman writes that there is something about politicians trying to appeal to voters that can push a good stock into a steep descent. First Quantum Minerals is a prime example. At first its mine in Panama got the government's nod, but following protests, the mine will now face a binding referendum in December. CIBC analyst Bryce Adams said the best-case scenario for would be a landslide vote in favour of approving First Quantum's mine. The worst-case scenario: expropriation of the mine, which would reduce his estimate of the net asset value of First Quantum to $9.24 a share from $27.42. Closer to home, Canada's big grocery stores, Loblaw, Metro, Costco, Walmart and Empire's Sobeys, have come under fire from Prime Minister Justin Trudeau. The PM has made these companies central to Ottawa's battle against inflation and has even threatened the sector with punitive taxes. Picking a villain might make good politics when many Canadians are struggling to pay their bills, but it is unclear exactly how grocers are to blame for inflation when producers are also raising prices.

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