Competition Bureau probes alleged anticompetitive conduct by Loblaws, Sobeys owners
CTV
Canada's Competition Bureau has launched investigations into the parent companies of grocery chains Loblaws and Sobeys for alleged anticompetitive conduct, court documents reveal, with Sobeys' owner calling the inquiry 'unlawful.'
Canada's Competition Bureau has launched investigations into the parent companies of grocery chains Loblaws and Sobeys for alleged anticompetitive conduct, court documents reveal, with Sobeys' owner calling the inquiry "unlawful."
The Federal Court documents show the Commissioner of Competition launched the probes on March 1, saying there's reason to believe the firms' use of so-called property controls limits retail grocery competition.
The commissioner claims the controls that the grocery giants have baked into lease agreements are designed to restrict other potential tenants and their activities and are hampering competition in the grocery market.
The Competition Bureau revealed its investigation into the use of property controls in the grocery sector in February.
At the time, deputy commissioner Anthony Durocher told a House of Commons committee that property controls can be a barrier both for independent grocery stores and chains looking to expand, as well as for foreign players looking to enter Canada.
That’s why in a report last June, the bureau recommended the government limit their use in the grocery sector in order to help boost competition and make it easier for new supermarkets to open.
Industry minister François-Philippe Champagne has said he’s seeking a foreign grocer to strengthen competition in the Canadian market.
Wednesday wasn't just a good day for Donald Trump. The wealth of the world's 10 richest people also soared by a record amount, according to Bloomberg's Billionaire Index.
Donald Trump's impending return to the White House has raised worries that he could complicate the Canada-U.S. trade relationships.
Stock prices, bond yields and bitcoin surged Wednesday as voters returned former U.S. president Donald Trump to the White House and the Republican party gained control of the Senate.
Employers at British Columbia ports say they are going ahead with locking out more than 700 foremen across the province after strike activities from union members began.
Warren Buffett is collecting a steady stream of profits from all of Berkshire Hathaway's assorted businesses, including Apple, without any major acquisitions.
Dockworkers at the Port of Montreal started a new strike Thursday morning, forcing the indefinite shutdown of two container terminals at the country's second biggest port.