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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

☆ A 72-year-old woman in Phoenix got her power cut over a $51 bill when it was 107 degrees — and she died. Her memory is behind efforts to stop future deaths.
▼ + stars: | 2023-07-25 | by ( Associated Press | ) www.businessinsider.com time to read: +4 min

Stephanie Pullman, 72, died after her power was shut off over a $51 late bill. Pullman's death in 2018 led to changes in how power companies deal with overdue bills in the summer. A recent heatwave in Arizona has the governor asking power companies to put policies in writing. The medical examiner's office said Pullman died from "environmental heat exposure " combined with cardiovascular disease after the shutoff. Electric utilities can choose to pause disconnections from June 1 through October 15 or pause them on days forecasted to be above 95 degrees Fahrenheit or below 32 degrees Fahrenheit.

Persons: Stephanie Pullman, Stacey Champion, Pullman, Patrick T, Fallon, Katie Hobbs Organizations: Service, Arizona Public Service, Getty, Arizona Corporation Commission, APS, Tucson Electric Power, ACC, National Weather Service, Gov Locations: Arizona, Wall, Silicon, sweltering Arizona, Phoenix, Mohave, Santa Cruz, Maricopa County, shutoffs

☆ I spent 8 hours in the world's biggest mall in Dubai. It's like an indoor city and has everything — an aquarium, an ice rink, and a Texas Roadhouse.
▼ + stars: | 2023-05-19 | by ( Chloë James | ) www.businessinsider.com time to read: 1 min

Despite living in the United Arab Emirates for two years, I've only ever visited the mall for a few hours — mainly to shop at the massive Zara. James said she usually only visits the Dubai Mall for the Zara, not the wide array of amenities. Chloe James/InsiderI set out to spend a full day there to experience all the Dubai Mall offers. Situated in downtown Dubai, you can reach Dubai Mall by metro or car. If you're arriving by car, prepare to navigate a 14,000-space parking lot, with multiple entrances into the mall.

☆ Energy, consumer weigh on Toronto stocks ahead of BoC decision
▼ + stars: | 2023-01-24 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

Jan 24 (Reuters) - Canada's main stock index fell on Tuesday, as energy and consumer discretionary stocks dragged the index lower ahead of the Bank of Canada's interest rate decision on Wednesday, while data showed U.S. business activity contracted. ET (1522 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 68.95 points, or 0.33%, at 20,562.63. Commodity-linked stocks took a dive, with both energy (.SPTTEN) and materials (.GSPTTMT) down 0.7% and 0.6%, respectively, as commodity prices slipped. Looking ahead, another interest rate hike by the Bank of Canada (BoC) is looming large, with traders leaning towards a 25-basis-point hike on Wednesday. The BoC had hiked its overnight lending rate all through 2022, with the current rate sitting at an over 16-year high.

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