DIRS.INFO The most relevant business & tech news

☆ Ocado upgrades technology arm, sending shares soaring
▼ + stars: | 2024-07-16 | by ( ) www.cnbc.com time to read: +2 min

Britain's Ocado lifted its annual guidance on Tuesday, citing an improvement in the profitability of its warehouse technology business, reassuring investors and sending its shares up by 18%. The group runs an online grocer in Britain through a joint venture with Marks & Spencer and also sells its cutting-edge warehouse technology to retailers around the world. Citi analysts said the share price reaction was to be expected given the upgrades to technology and cash expectations, plus weakness in recent days. It also forecast underlying cash flow would improve by 150 million pounds, ahead of a previous expectation of 100 million pounds, and said liquidity remains strong at 1.05 billion pounds. First-half underlying earnings, or adjusted EBITDA, Ocado's preferred measure, was 71.2 million pounds, up from 16.6 million pounds.

Persons: Britain's Ocado, Spencer, Tim Steiner, I'm, We've, Steiner, Ocado, Sobeys, Kroger, Ocado's Organizations: Marks, Citi Locations: Britain, United States

☆ Canada's grocery chains pledge to help cut food prices, government says
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +1 min

A person pushes a shopping cart through the produce section of a grocery store in Toronto, Ontario, Canada November 22, 2022. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOTTAWA, Oct 5 (Reuters) - The Canadian government, under political pressure to tackle high inflation, said on Thursday the country's five major grocery chains had made an initial commitment to help stabilise food prices. Innovation Minister Francois-Philippe Champagne said Canadians would soon see discounts on a number of food products, as well as price freezes and price-matching campaigns. This is Day One of a fight that we are fighting on behalf of Canadians," Champagne told reporters when asked whether tax increases were still possible. Champagne also said Ottawa would establish a special grocery task force to monitor whether the chains were living up to their commitments to keep food prices under control.

Persons: Carlos Osorio, Francois, Philippe Champagne, Justin Trudeau, Champagne, David Ljunggren, Jane Merriman Organizations: REUTERS, Rights OTTAWA, Canadian, Innovation, Walmart, Costco, Thomson Locations: Toronto , Ontario, Canada, Ottawa

TORONTO, Sept 18 (Reuters) - Canada's plan to bring down food prices by tightening regulation could backfire and fail, raising the cost of doing business in the country without providing relief to consumers, lawyers and economists said. Canada's weak competition law has been long blamed for allowing a few players to dominate industries ranging from banks to telecoms and groceries. The proposed amendment will drop the so-called efficiencies defense provision, giving Canada's antitrust regulator - the Competition Bureau - the power to block deals it deems as increasing market concentration, irrespective of any cost efficiencies. Trudeau's move comes as many Canadians reel under an affordability crisis with food prices jumping 25% since the start of the COVID-19 pandemic in 2020. Food inflation stood at around 35% in Germany and the United Kingdom - well above the 25% level of food inflation in Canada since the start of the pandemic, Scotiabank research showed.

Persons: Justin Trudeau, Pierre Poilievre, Omar Wakil, Torys, Wakil, Derek Holt, Denny Thomas, Deepa Babington Organizations: Competition, Liberal, Conservative, Loblaw Co, Co, Metro Inc, Scotiabank, Antitrust, Rogers Communications, Shaw Communications, Thomson Locations: Canada, Ukraine, Germany, United Kingdom

☆ Canada gov't vows draft law soon to tackle inflation, housing crisis
▼ + stars: | 2023-09-18 | by ( Steve Scherer | ) www.reuters.com time to read: +2 min

A for sale sign is displayed outside a home in Toronto, Ontario in Toronto, Ontario, Canada December 13, 2021. Prime Minister Justin Trudeau last week announced a tax break designed to boost the construction of new rental apartment buildings and relieve pressure on the Canadian housing market. Later on Monday, the heads of major grocery chains will meet government ministers who are demanding to see a plan to counter soaring food prices. Canadian retailers say they are not to blame for surging food prices, and instead point to food manufacturers and producers for passing on higher costs to the grocers. The grocery chains attending the meeting in Ottawa are Loblaws (L.TO), Sobeys (EMPa.TO), Metro (MRU.TO), Walmart (WMT.N) and Costco (COST.O), which together represent 80% of the Canadian market.

Persons: Carlos Osorio, Justin Trudeau, Chrystia Freeland, Trudeau, Karina Gould, Steve Scherer, David Ljunggren, Bernadette Baum Organizations: REUTERS, Rights, Liberal, Finance, Competition, Conservatives, Metro, Walmart, Costco, Thomson Locations: Toronto , Ontario, Canada, Ottawa

[1/4] A person shops in the poultry section at a grocery store in Toronto, Ontario, Canada November 22, 2022. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOTTAWA, Sept 18 (Reuters) - Canada's five major grocery chains have agreed to help the government in its bid to stabilize soaring prices, a senior minister said on Monday, following talks to address an issue that is hurting the ruling Liberals. Innovation Minister Francois-Philippe Champagne made the announcement after two hours of what he said were difficult discussions with the chains. "They have agreed to support the government of Canada in our efforts to stabilize prices in Canada," Champagne told reporters, without giving details. "We're all committed to finding solutions to stabilize prices ... it's an industry issue.

Persons: Carlos Osorio, Francois, Philippe Champagne, Champagne, Eric La Fleche, We're, It's, Justin Trudeau, Karina Gould, Trudeau, Steve Scherer, David Ljunggren, Bernadette Baum, Bill Berkrot Organizations: REUTERS, Rights, Innovation, Metro, Walmart, Costco, Conservatives, Liberal, Thomson Locations: Toronto , Ontario, Canada, Ottawa, it's

Prime Minister Justin Trudeau said on Thursday he had invited the heads of Canada's five largest grocery chains, including Sobeys (EMPa.TO), Metro (MRU.TO) and Loblaw (L.TO), to Ottawa next week to discuss how they planned to control sky-rocketing food prices. Trudeau's move comes when governments across the globe, especially in Europe, have expressed concern over soaring food prices as they seek to address a cost-of-living crisis that has intensified after the pandemic subsided and since the Russia-Ukraine war began. However, after a similar move from the French government in June, analysts were skeptical about Trudeau's warning. They argued it was a "political" tactic and might be ineffective in lowering lingering food inflation. "Both PM Justin Trudeau and François-Philippe Champagne (Canada's industry minister) spoke tough about this topic and it is difficult to envision what teeth they have to hold grocers accountable," said Ben Jang, portfolio manager at Nikola Wealth.

Persons: Justin Trudeau, Trudeau's, François, Philippe Champagne, Ben Jang, Michael Ashley Schulman, Allan Small, Granth Vanaik, Pooja Desai Organizations: Metro, Loblaw, Nikola Wealth, Running, Capital Advisors, iA, Wealth, Carrefour, Lipton, Nestle, PepsiCo, Unilever, Thomson Locations: Ottawa, Europe, Russia, Ukraine, Bengaluru

☆ Argentine Cerundolo brothers chalk up victories at US Open
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

Aug 9, 2023; Toronto, Ontario, Canada; Francisco Cerundolo (ARG) goes to forehand a ball to Tommy Paul (not pictured) at Sobeys Stadium. His 21-year-old brother also came from behind to beat Ilia Ivashka 2-6 6-7(4) 6-3 6-3 6-3, winning a Grand Slam match for the first time. "A crazy triumph for my family and for Argentina today. I'm very happy for Juan Manuel," Francisco told ESPN. Francisco next meets Czech Jiri Vesely while Juan Manuel takes on Spain's Alejandro Davidovich Fokina.

Persons: Francisco Cerundolo, Tommy Paul, John E, Juan Manuel, American Zachary Svajda, Ilia Ivashka, Francisco, Czech Jiri Vesely, Spain's Alejandro Davidovich Fokina, Angelica Medina, Peter Rutherford Organizations: U.S ., Flushing, ESPN, Thomson Locations: Toronto , Ontario, Canada, Sobeys, Argentina, American, Flushing Meadows, Czech, Mexico City

☆ Zverev takes down Medvedev to reach Cincinnati quarter-finals
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

Aug 8, 2023; Toronto, Ontario, Canada; Alexander Zverev (GER) celebrates after winning the first set against Tallon Griekspoor (NED) (not pictured) in second round play at Sobeys Stadium. Mandatory Credit: Dan Hamilton-USA TODAY Sports/File photo Acquire Licensing RightsAug 17 (Reuters) - Alexander Zverev upset third seed Daniil Medvedev 6-4 5-7 6-4 on Thursday in a windy clash between former champions to secure his spot in the Cincinnati Open quarter-finals. "Very difficult conditions but also a very difficult opponent," German 16th seed Zverev said in his on-court interview. You have to win the match yourself and that's what I did today and I am pleased with that." Zverev seized his opportunity and sealed the high-quality encounter on his first match point when Medvedev sent a service return long.

Persons: Alexander Zverev, Tallon Griekspoor, Dan Hamilton, Daniil Medvedev, Zverev, Medvedev, Carlos Alcaraz, Tommy Paul, Novak, Frenchman Gael Monfils, Frank Pingue, Ed Osmond Organizations: Sobeys, Cincinnati, Thomson Locations: Toronto , Ontario, Canada, Russian, Toronto

☆ Sinner beats De Minaur to win Canadian Open title
▼ + stars: | 2023-08-13 | by ( ) www.reuters.com time to read: +2 min

[1/5] Aug 13, 2023; Toronto, Ontario, Canada; Jannik Sinner (ITA) hoists the National Bank Open trophy after defeating Alex de Minaur (not pictured) in the championship game at Sobeys Stadium. Mandatory Credit: John E. Sokolowski-USA TODAY SportsTORONTO, Aug 13 (Reuters) - Italian seventh seed Jannik Sinner secured his first Masters 1000 title with a dominant 6-4 6-1 win over Australian Alex de Minaur in the Canadian Open final on Sunday. Sinner, appearing in his third Masters 1000 final after runner-up efforts at the Miami Open in 2021 and this year, broke De Minaur five times and saved two of four break points to lift the biggest title of his career. I was a break up a couple times and he broke back but I tried to stay calm mentally. I was prepared for a long battle," Sinner, the first Italian to win the event, said during his on-court interview.

Persons: Alex de Minaur, John E, Jannik Sinner, De, De Minaur, Sinner, Frank Pingue, Pritha Sarkar Organizations: National Bank, Sobeys, Sports TORONTO, Canadian, Miami, Wimbledon, Thomson Locations: Toronto , Ontario, Canada, Toronto

☆ De Minaur shocks Medvedev to reach semis in Toronto
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

[1/2] Aug 11, 2023; Toronto, Ontario, Canada; Alex De Minaur (AUS) reacts after winning a point against Daniil Medvedev (not pictured) at Sobeys Stadium. Mandatory Credit: John E. Sokolowski-USA TODAY SportsAug 11 (Reuters) - Alex de Minaur pulled off a gritty 7-6(7) 7-5 upset of second seed Daniil Medvedev at the Canadian Open on Friday to reach his first semi-final at a Masters 1000 event where he will face Spaniard Alejandro Davidovich Fokina. The 24-year-old De Minaur had to rally from a break down twice in the second set before showing his resilience again thanks to his brilliant return game, sealing victory on the Russian's seventh double fault. Up next is a meeting with red-hot Spaniard Alejandro Davidovich Fokina, who swept aside American Mackenzie McDonald 6-4 6-2 earlier on Friday. Davidovich Fokina holds a 2-1 lead over De Minaur in their head-to-head meetings.

Persons: Alex De Minaur, Daniil Medvedev, John E, Alex de Minaur, Alejandro Davidovich Fokina, Minaur, Mackenzie McDonald, Davidovich Fokina, De, Rory Carroll, Ken Ferris Organizations: Thomson Locations: Toronto , Ontario, Canada, Sobeys, Toronto, De Minaur, Los Angeles

[1/4] Aug 11, 2023; Toronto, Ontario, Canada; Carlos Alcaraz (ESP) reaches for but misses a shot played by Tommy Paul (USA) (not pictured) during quarter finals play at Sobeys Stadium. Mandatory Credit: Dan Hamilton-USA TODAY SportsAug 11 (Reuters) - Carlos Alcaraz's U.S Open preparations suffered a setback on Friday as the world number one fell to American Tommy Paul 6-3 4-6 6-3 in the quarterfinals of the Canadian Open. For the third consecutive match, the Spaniard got off to a sluggish start on the hard courts in Toronto, falling behind early and double faulting to hand Paul the first set. But Paul took control in the decider, smoking a backhand at the charging Alcaraz that he could not put back in play for a break and pouncing on a poorly executed drop shot from Alcaraz on match point to dismiss the top seed. Reporting by Rory Carroll in Los Angeles; Editing by Ken Ferris and William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Alcaraz, Tommy Paul, Dan Hamilton, Carlos Alcaraz's, American Tommy Paul, Paul, Alcaraz, Monfils, Alex de Minaur, Daniil Medvedev, Alejandro Davidovich Fokina, Minaur, de Minaur, Mackenzie McDonald, Davidovich Fokina, De, Rory Carroll, Ken Ferris, William Mallard Organizations: Sobeys, Canadian, Thomson Locations: Toronto , Ontario, Canada, USA, Carlos Alcaraz's U.S, American, Toronto, De Minaur, Los Angeles

The swashbuckling Spaniard got off to a nightmare start as Hurkacz jumped out to a 3-0 first set lead in just six minutes en route to capturing the first set. FOKINA TOPPLES RUUDEarlier, Alejandro Davidovich Fokina battled back from a third set deficit to beat Casper Ruud 7-6(4) 4-6 7-6(4) and deny the third seed a place in the Canadian Open quarter-finals. Ruud was two points away from victory at 5-3 30-0 before Davidovich Fokina served his way out of trouble. Ruud dug himself into an early hole in the breaker with some tentative serving and poor forehands and Davidovich Fokina claimed the win with a drop shot. Up next for Davidovich Fokina is American Mackenzie McDonald, who reached his first quarter-final of a Masters 1000 tournament by dispatching Canadian Milos Raonic 6-3 6-3.

Persons: Carlos Alcaraz, Hubert Hurkacz, Dan Hamilton, Hurkacz, Tommy Paul, Marcos Giron, Scot Andy Murray, Italy's, FOKINA TOPPLES RUUD, Alejandro Davidovich Fokina, Casper Ruud, Ruud, Davidovich Fokina, Fokina, Mackenzie McDonald, Milos Raonic, Raonic's, McDonald, FRITZ FIZZLES Australia's Alex De Minaur, Taylor Fritz, Fritz, De Minaur, Daniil Medvedev, Italy's Lorenzo Musetti, Medvedev, Rory Carroll, Ken Ferris Organizations: Sobeys, Wimbledon, Canadian, Thomson Locations: Toronto , Ontario, Canada, Toronto, Alcaraz, Marcos Giron ., Norwegian, Los Angeles

☆ Monfils magic downs Eubanks in Toronto
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +1 min

[1/5] Aug 7, 2023; Toronto, Ontario, Canada; Gael Monfils (FRA) serves against Christopher Eubanks (USA) (not pictured) in first round play at Sobeys Stadium. Mandatory Credit: Dan Hamilton-USA TODAY SportsAug 7 (Reuters) - Frenchman Gael Monfils put on an impressive display of speed and skill to beat American Christopher Eubanks 7-6(3) 6-7(4) 6-1 to advance to the second round of the Canadian Open in Toronto on Monday. Eubanks battled back from a 4-1 deficit in the second set breaker and leveled the match with a perfectly executed serve and volley in the first meeting between the pair of popular players. But Monfils broke Eubanks in the first game to jump out to an early lead he would not relinquish in the deciding set. Next up for Monfils is a second round meeting with Stefanos Tsitsipas, who enjoyed a first round bye, at the Masters 1000 tournament.

Persons: Gael Monfils, Christopher Eubanks, Dan Hamilton, Frenchman Gael Monfils, American Christopher Eubanks, Monfils, Eubanks, Stefanos Tsitsipas, Rory Carroll, Stephen Coates Organizations: Sobeys, Frenchman, American, Canadian, Wimbledon, Monfils, Thomson Locations: Toronto , Ontario, Canada, Toronto, Los Angeles

☆ Canada's grocery industry needs more players to tame inflation - competition bureau
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

June 27 (Reuters) - More players in Canada's grocery sector are crucial to combat soaring prices of essential goods amid persistent inflation, the country's competition watchdog said in a report on Tuesday. The report is the result of a months-long investigation by the Competition Bureau Canada as stubbornly high grocery prices weigh on the cost of living. These operators have also faced pressure from Canada's opposition New Democrats Party (NDP) for high grocery prices. Domestic retail giants have benefited from demand for essential grocery items, even as the prices of store-bought food outpaced the annual inflation rate for 10 consecutive months last year. Government data on Tuesday showed that grocery prices continued to surge, rising 9% year-over-year in May, while remaining nearly unchanged from the increases recorded in April.

Persons: Juveria, Anil D'Silva Organizations: Competition Bureau Canada, Metro, New Democrats Party, Domestic, NDP, Thomson Locations: Australia, Bengaluru

☆ Swiatek confused, disappointed by Halep's failed drugs test
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +2 min

[1/2] Aug 14, 2022; Toronto, ON, Canada; Simona Halep (ROU) reacts to winning a point against Beatriz Haddad Maia (BRA) (not pictured) in the women's final of the National Bank Open at Sobeys Stadium. Two-times major winner Halep was provisionally suspended by the International Tennis Integrity Agency this month after she tested positive for the banned blood-booster roxadustat. Halep had described the ban as the "biggest shock of her life" and denied knowingly taking any banned substance. Hopefully it's going to be more clear for fans and for us," Swiatek added. Reporting by Shrivathsa Sridhar in Bengaluru; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Sobeys"

15 mentions found