Canada’s five largest grocery chains, including Loblaw, Metro, and Walmart, have agreed to work with the government to stabilize food prices and lower food inflation. This comes after a “historic” meeting with the federal government. The details of how they will work together are not yet clear, but it is seen as a positive step forward. Meanwhile, contract talks between Ford Motor Co. and Unifor union officials are ongoing ahead of a strike deadline. The union has asked workers to “prepare for all scenarios, including strike action” as they negotiate on pensions, wages, electric vehicle transition, and investment. In the stock market, the TSX composite index in Canada fell almost 130 points, while US stock markets ended the day flat. Bank of America expects a “soft landing” for the US economy, but warns of a potential “error of over-hiking” rates by the Federal Reserve that could impact inflation. The backlog of air passenger complaints in Canada has reached a new peak, with over 57,000 complaints at the Canadian Transportation Agency. Dissatisfaction over cancellations and compensation continues to persist.
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