Canadian retailer and supermarket chain shares fall as Amazon announces its plan to buy Whole Foods, consumers can expect meat prices in grocery stores and butchers to rise up to 9 per cent this year, and Canadian home prices are predicted to fall between 20 to 40 per cent over the next five years. These are the stories we’re following this week:
- Amazon’s surprising acquisition of Whole Foods led to a fall in Canadian retailer and supermarket chain shares by up to 3.36 per cent — the biggest hit since October 2008. Via The Toronto Star
- The Canadian Food Inspection Agency is expanding its nation-wide recall of Robin Hood’s All-Purpose Flour to cover a product commonly used by hotels and restaurants. Via CTV News
- Canada’s annual Food Price Report indicates meat prices are set to increase between seven and nine per cent this year, with food inflation expected to rise between three and four per cent. Via CBC News
- Workers from a Honda dealership arrived to work earlier this week to discover a crew of thieves pulled off a bold overnight heist and got away with at least 16 brand new wheels. Via The Drive
- A severe downturn appears to be on the horizon as Capital Economics warns Canadian home prices could fall between 20 to 40 per cent over the next five years. Via BNN
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