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Loblaw Cos. Ltd. reported its third-quarter profit and revenue rose compared with a year ago. The parent company of Loblaws and Shoppers Drug Mart reported a profit available to common shareholders of $621 million or $1.95 per diluted share for the 16-week period ended Oct. 7. The result compared with …
Read More »Winnipeg man charged with money laundering after year-long probe into drug profits – Winnipeg
Descrease article font size Increase article font size The Manitoba RCMP’s organized crime unit says it has charged a Winnipeg man with money laundering — among other charges — as part of Project Doom, an investigation into suspicious activities in local casinos that began last October. Police said 30-year-old Mohammad …
Read More »Canadians showing more support for striking workers amid inflation, corporate profits
It was Samantha Henry’s first time on strike, and one that made headlines across the country. “Some people thought the strike would only last a week, a couple of days. And we went into almost five weeks,” said Henry, one of some 3,700 Metro employees in the Toronto area who …
Read More »‘Profits are profits’: As food prices soar, Liberal MP says Canada needs more competition
As an “unlikely alliance” between Canada’s independent grocers and the country’s three largest chains is forming, a Liberal MP is arguing that shoppers need more competition amid soaring food prices and accusations that grocery stores are at fault for higher food inflation. Read more: Grocery CEOs defend ‘reasonable profitability’ in grilling over soaring …
Read More »Canada’s highest-paid CEOs made average of $14.3M in 2021, shattering records: report – National
Canada’s highest-paid CEOs and other top executives shattered records for compensation in 2021, according to a new report, earning an average of $14.3 million as soaring inflation began to take hold. The average calculated in the report from the Canadian Centre for Policy Alternatives (CCPA), released Monday, far surpasses the …
Read More »Inflation driven by profits in few sectors, including oil and gas: report – National
A new report by the Centre for Future Work found that growth in corporate profits this year compared to pre-pandemic has been concentrated in a small number of sectors where consumer prices have also risen the fastest. Report author and economist Jim Stanford analyzed the profits of the 52 business …
Read More »NDP calling for probe of grocery store profits as food prices continue to rise
The federal NDP is calling for a parliamentary probe of the rising cost of food to determine whether major grocery store chains are raking in excess profits. While Canada’s inflation problem seems to be easing off, the cost of groceries has risen 10.8 per cent in the past year, according to Statistics …
Read More »After UN chief calls out ‘scandalous’ profits, Ottawa offers no plan to hike taxes on oil and gas industry
Canada’s Ministry of Finance says it’s aiming to make everyone pay “their fair share of tax” but is not committing to an elevated tax on energy companies who are reporting sizeable windfalls while consumers feel pinched at the gas pumps. The ministry’s statement comes on the heels of United Nations Secretary General Antonio Guterres …
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