Canada Bread has agreed to pay $50 million after admitting to colluding with competitors in Canada’s bakery industry to fix bread prices. “Fixing the price of bread—a food staple of Canadian households—was a serious criminal offence,” said Commissioner of Competition Matthew Boswell in a June 21 release. “Our continuing investigation remains a top priority. We are doing everything in…
Accusing Grocers of ‘Greedflation’ Is Pointless, but People Want a Scapegoat
Commentary As food prices rise, many are quick to blame grocers for profiteering and taking advantage of consumers. The notion of “greedflation” has emerged as one of the most talked about issues in the last month. Food inflation in Canada is at a 41-year high, at 10.3 percent, and chances are that consumers won’t get…
Loblaw Financial Wins Supreme Court Case Over Tax Treatment of Barbados Subsidiary
OTTAWA—The Supreme Court of Canada has sided with Loblaw Financial Holdings in a dispute over the tax treatment of a subsidiary the company ran in Barbados. In a 7-0 ruling today, the top court says Canadian provisions at issue in the case did not apply to the company, Glenhuron Bank Ltd., meaning tax on its…
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