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☆ Here are Friday's biggest analyst calls: Netflix, Nvidia, Eli Lilly, Disney, Levi's, Exxon, Walmart and more
▼ + stars: | 2023-10-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan reiterates Exxon as overweight JPMorgan said it's standing by its buy rating on the oil and gas giant. Seaport initiates Netflix as buy Seaport said it sees plenty of upside in shares of Netflix. JPMorgan upgrades Eaton to overweight from neutral JPMorgan said the industrial and electrical company is best in class. UBS reiterates Levi's as buy UBS said Levi's is still an attractive stock despite the company's disappointing earnings report Thursday. " JPMorgan upgrades Apellis to overweight from neutral JPMorgan said the pharmaceutical company is well-positioned for more upside.

Persons: Piper Sandler, Bernstein, Disney, XOM, Jefferies, TD Cowen, Cowen, Eaton, Eli Lilly, Doug McMillon, Berenberg, Morgan Stanley, Meta, Levi's, Oppenheimer downgrades O'Reilly, AutoZone, Oppenheimer, it's, Truist Organizations: Disney, Netflix, Hulu, JPMorgan, Exxon, Barclays, Nvidia, Intel, Gaudi, Citi, Discover Citi, DFS, Seaport, Bank of America, Energy, of America, Apple, Vegas, Prix, Clearway Energy, Walmart, United Auto Workers, Auto, Meta, UBS Locations: Parks, NVDA, China, ETN, TEL, AZO, ORLY

☆ These top 5 dividend stocks will consistently increase payments to investors, and are poised to rebound during a surprisingly strong 4th quarter, according to the CIO at a $250 billion hedge fund
▼ + stars: | 2023-10-06 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Consensus estimates for the third quarter were recently lowered with expectations for flat revenue growth and slightly positive earnings growth. The three stocks below are also growing revenues, earnings, cash flows, and dividends as they have fundamentally attractive businesses that are less cyclical. Motorola Solutions (MSI) is a video and telecommunications equipment, software, systems, and services provider with an annual yield of 1.28%. It has an annual yield of 1.38%. And Eaton Corporation (ETN), is a power management company with an annual yield of 1.68%.

Persons: Saira Malik, Malik, I'm Organizations: Investors, Treasury, Retail, Walmart, Motorola Solutions, Linde, Eaton Corporation

☆ U.S. online sales to grow 4.8% in crucial holiday season, report says
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Stephanie Keith/File Photo Acquire Licensing RightsOct 5 (Reuters) - Online sales during the crucial U.S. holiday season are expected to rise 4.8% from a year earlier as retailers go all out to woo inflation-hit consumers with even bigger discounts and promotions, a report from Adobe Analytics showed on Thursday. Adobe said the holiday season would see heavy discounts this year, especially in the toys, sporting goods and furniture categories, with markdowns peaking at 35%. Last month, Mastercard's (MA.N)SpendingPulse report forecast a 6.7% rise in online sales during the holiday season. Online discounts expected to be as high as 35% this holiday seasonWith Amazon.com (AMZN.O) hosting its second Prime Day sale in October, holiday shopping is expected to start as early as this month. Shoppers, especially the younger ones, are more likely to use buy-now-pay-later services to stretch their budgets, according to the report.

Persons: Stephanie Keith, Adobe, Savyata Mishra, Anil D'Silva Organizations: REUTERS, Adobe Analytics, Walmart, Adobe, Thomson Locations: New York City, U.S, Bengaluru

☆ 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

☆ Walmart changes pay and titles for corporate staff, Wall Street Journal reports
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kamil Krzaczynski/File Photo Acquire Licensing RightsCompanies Walmart Inc FollowSept 30 (Reuters) - Walmart (WMT.N) corporate staff are getting new titles and pay packages in the coming weeks to manage labor costs and simplify the structure of the company's workforce, the Wall Street Journal reported on Saturday. Starting in November, many corporate workers at Walmart and Sam's Club, its warehouse chain, will be reclassified into fewer groups of possible titles and pay, the report added. Around 4%, or 2,000, will receive an eventual reduction in stock-option awards as part of the change, the report said. The change is "good compensation hygiene," and ensures Walmart is "appropriately rewarding similar levels of work," Lupo said. Earlier this month, Walmart changed the hourly starting wage structure for entry-level store workers.

Persons: Kamil Krzaczynski, Kim Lupo, Lupo, Gursimran Kaur, Andrea Ricci, Marguerita Choy Organizations: REUTERS, Walmart, Wall Street, Sam's, Base, Workers, Thomson Locations: Chicago , Illinois, U.S, Bengaluru

In the past year, clothing retailers have sought to clear excess stock that had piled up due to a shift in consumer demand to essentials from discretionary items like clothing. But with fourth-quarter temperatures expected to start off warm, according to weather tracking firm Weather Trends International, stores carrying winter styles and gear could find themselves loaded with inventory at the end of the season. European company Pepco Group (PCOP.WA) also noted that the landing of its autumn and winter clothing inventory had coincided with persistent record-warm weather in its core Central and Eastern European markets. In the United States, temperatures could rise by 2 to 12 degrees Fahrenheit on average in the October-December period compared with last year, according to Weather Trends International. Abercrombie & Fitch (ANF.N) also said there was strong demand for "seasonless products" in the second quarter, particularly in the men's category, as customers picked out year-round clothing items and styles.

Persons: Helena Helmersson, Andy Bond, Bill Kirk, Clodagh, David Swartz, Robert Woods, Kristen D'Arcy, Abercrombie, Simon Wolfson, Ananya Mariam Rajesh, James Davey, Helen Reid, Matthew Lewis Organizations: Reuters, Pepco, Amazon.com, REUTERS, Walmart, Dick's Sporting, Costco Wholesale, Morningstar Research, Vision Brands, Fitch, Thomson Locations: United States, Europe, Cos, Eastern, Grafton, Dublin, Ireland, outerwear, Bengaluru, London

☆ Amazon has a poor man’s monopoly
▼ + stars: | 2023-09-27 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

The $1.3 trillion retailer run by Andy Jassy was sued on Tuesday by the U.S. Federal Trade Commission for alleged anticompetitive practices. She rose to prominence after publishing a paper in the Yale Law Journal in 2017 titled “Amazon’s Antitrust Paradox,” which painted the e-commerce giant as a sprawling monopoly that has gone unchecked by traditional antitrust policing. But Chinese competitors like Shein and Temu, which have different cost structures, are starting to encroach on Amazon’s market. It's possible that Khan and the FTC can nail Amazon in court for behaviors that in the past have given it an exclusive edge. Follow @thereallsl on XCONTEXT NEWSThe U.S. Federal Trade Commission filed an antitrust lawsuit against Amazon.com on Tuesday, asking the court to consider forcing the online retailer to sell assets.

Persons: Andy Jassy, Lina Khan, EBITDA, Walmart’s, hasn’t, Khan, Jonathan Guilford, Sharon Lam Organizations: Reuters, U.S . Federal Trade Commission, Yale Law, Investors, Walmart, Foods, Amazon.com, Alphabet's Google, Thomson Locations: Arkansas, It’s

☆ What Cramer thinks a potential government shutdown, auto strike mean for equities
▼ + stars: | 2023-09-27 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. Equities give up gains Stocks lost steam in midmorning trading Wednesday, with the S & P 500 down 0.07%, as equities gave up early gains and bond yields again strengthened. However, Jim Cramer said Wednesday that a potential shutdown of the federal government , in conjunction with an escalating strike by the United Auto Workers union, could "take out a big chunk of economic activity." As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Jim, we'll, Jim Cramer's Organizations: CNBC, Costco, Treasury, United Auto Workers, West Texas, Costco Wholesale, Federal Trade Commission, Citigroup, Walmart Locations: U.S

☆ Here are Wednesday's biggest analyst calls: Tesla, Apple, Microsoft, Mattel, Amazon, Costco & more
▼ + stars: | 2023-09-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

UBS reiterates Apple as neutral UBS said its survey checks show wait times for Apple's newest iPhone are shorter than compared to one year ago. Deutsche Bank reiterates Tesla as buy Deutsche said it sees "meaningful downside risk" in 2024 for Tesla, but that it's standing by its buy rating. " Bank of America reiterates Costco as buy Bank of America said it's standing by its buy rating after the company's earnings report Tuesday. "We initiate coverage of Leonardo DRS with a Buy rating and a $20 price objective, implying 23% upside potential." Bank of America reiterates Walmart as buy Bank of America said it sees gross margin expansion continuing for shares of the big box retailer.

Persons: Tesla, Goldman Sachs, Goldman, Brent, Morgan Stanley, Leonardo, Mattel, Evercore, TD Cowen, Levi's, William Blair, Berenberg, DA Davidson Organizations: Street, HSBC, Johnson, UBS, Apple, Deutsche Bank, Deutsche, Chevron, Bank of America, Occidental Petroleum, Costco, Kosmos Energy, of America, T Bank, MTB, Amazon, Electric Vehicle Supply, Leonardo DRS, BMO, Microsoft, Mattel, Biosciences, Twist Bioscience Corp, Walmart Locations: China, Europe, Berkshire

The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, January 5, 2023. These are the specific allegations included in the FTC's 172-page complaint:ONLINE SUPERSTORE, SERVICES MONOPOLIES*The agency alleged that Amazon had a monopoly in an online superstore market. *The agency also said that Amazon had a monopoly in the online marketplace for services, where Amazon has more than 70% of the market. PUNISHES SELLERS FOR LOWER PRICES ELSEWHERE* The complaint alleged Amazon uses a sophisticated network of web crawlers that identify which of its sellers offer their products more cheaply on other platforms. MONITORING PRICES* Amazon used the Project Nessie pricing system as an unfair method of competition.

Persons: Pascal, Nessie, Diane Bartz, Jamie Freed Organizations: REUTERS, Rights, U.S . Federal Trade Commission, Amazon.com, Amazon, Walmart, FTC, Amazon's, Thomson Locations: Lauwin, France, United States

Demonstrators hold placards next to a banner as they attend a protest against the sharing of Cauvery river water with neighbouring Tamil Nadu state, in Bengaluru, India, September 26, 2023. Schools and colleges were shut in the capital of the southern state of Karnataka, home to more than 3,500 tech companies. "I can shed my blood but I don't want to give water to Tamil Nadu," said one protester, Ravi Mallikarjuna. The delay provoked small demonstrations near a railway station in Tamil Nadu. The Cauvery river originates in the Karnataka region of Talakaveri, flowing through Tamil Nadu into the Bay of Bengal.

Persons: Dhanya, Santosh Babu, Ravi Mallikarjuna, Shivakumar, Ramachandra, Rupam Jain, Miral Fahmy, Clarence Fernandez Organizations: REUTERS, Inc, Walmart, Police, Farmers, Google, Schools, Supreme, Tamil, Ecological Sciences, Indian Institute of Science, Thomson Locations: Tamil Nadu, Bengaluru, India, BENGALURU, India's, Karnataka, Farmers, Bengal

☆ Amazon.com faces an array of US consumer, state antitrust lawsuits
▼ + stars: | 2023-09-26 | by ( Mike Scarcella | ) www.reuters.com time to read: +5 min

In the California case, Judge Ethan Schulman in San Francisco Superior Court in March ruled against Amazon's bid to dismiss the lawsuit. CONSUMERS' PRICE INFLATION CLAIMSAmazon faces a pair of consumer lawsuits in Seattle federal court. The consumer plaintiffs, Chun wrote, "allege the type of conduct that antitrust law is intended to prevent." E-BOOKSIn Manhattan federal court, a prospective class action from consumers accuses Amazon of artificially inflating the price of retail trade e-books on the site. U.S. District Judge Gregory Woods has not yet ruled on objections from Amazon and the plaintiffs to Figueredo's report and recommendation.

Persons: Benoit Tessier, Rob Bonta, Ethan Schulman, Amazon's, Schulman, Richard Jones, Jones, John Chun, —, Chun, Ricardo Martinez, Valerie Figueredo, Gregory Woods, Mike Scarcella, Chris Sanders, Matthew Lewis Organizations: REUTERS, U.S . Federal Trade Commission, Amazon.com, Big Tech, FTC, GENERAL, District of Columbia, Walmart, Costco, Amazon, San Francisco Superior Court, District, U.S, Thomson Locations: Bretigny, Paris, France, CALIFORNIA, WASHINGTON, GENERAL California, District, Washington ,, California, Columbia, San Francisco, Seattle, U.S, Maryland, Manhattan, Washington

☆ Three stocks to play as student loan repayment slashes borrowers’ budgets, Jefferies says
▼ + stars: | 2023-09-26 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

Federal student loan payments are coming back in October and a trio of stocks are set to shine as borrowers cut their spending, according to Jefferies. Payments on federal student loans had been paused since March 2020 as part of a package of Covid-era relief measures. A recent poll of about 630 U.S. consumers with student loan debt found that the majority expect to pay $500 or less each month, Jefferies found. Walmart beat Wall Street's estimates for sales and earnings in its fiscal second quarter and hiked its full-year earnings forecast. Shares have popped 21% this year, leaving analysts to only see 3% further upside from here, according to LSEG.

Persons: Jefferies, That's, Randal Konik, WMT, — CNBC's Michael Bloom Organizations: Jefferies, Walmart, Wall, Costco Locations: Maxx, HomeGoods, Sierra

☆ Costco delivers a strong quarter, and we see two catalysts ahead that could boost the stock
▼ + stars: | 2023-09-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

Total revenue for the reported quarter increased 9% year over year to $78.94 billion, beating analysts' expectations of $77.9 billion, according to estimates compiled by LSEG, formerly known as Refinitiv. COST YTD mountain Costco YTD Bottom line It was another good quarter down from Costco, as its leadership on price continues to drive people to its stores. Meanwhile, Costco has virtually been unaffected by the inventory and theft troubles facing the industry, a sign of operational excellence. Costco's reported gross margins, excluding membership fees (which flow directly into profits), expanded 42 basis points from last year to 10.6%. Core merchandise was a 51-basis-point improvement on a reported basis and 28-basis-point improvement excluding the decline in the price of gasoline from the year-ago period.

Persons: Tuesday's, it's, Costco's, Richard Galanti, Galanti, they've, Jim Cramer's, Jim Cramer, Jim, Gary Hershorn Organizations: Costco Wholesale, Costco, LSEG, Walmart, CNBC, People, Corbis, Getty Locations: United States, Costco, U.S, Canada, Bayonne , New Jersey

☆ Final Trades: ARM, WMT, VC
▼ + stars: | 2023-09-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: ARM, WMT, VCThe final trades of the day with the Fast Money traders.

Organizations: ARM, Fast Money

☆ Shein shifts shipping strategy to bring China-made goods closer to US shoppers
▼ + stars: | 2023-09-22 | by ( Katherine Masters | ) www.reuters.com time to read: +4 min

The move also marks a strategy shift for Shein, which has traditionally flown goods directly from China to shoppers. Goods eligible for QuickShip are delivered significantly faster than Shein's standard shipping times, which can range from nine to 14 days, according to estimates on its website. Importing high-demand products in bulk helps Shein save money, a person familiar with Shein's strategy said, as ocean shipping is significantly less costly than air freight. Shipping goods by air directly from China is a strategy that helps the e-tailer avoid unsold inventory piling up in warehouses, according to Juozas Kaziukenas, founder of e-commerce analytics firm Marketplace Pulse. Prior to 2020, Shein imported no clothing by ocean freight, according to the ImportGenius data.

Persons: Chen Lin, ImportGenius, Shein, AWEIGH Shein, Juozas Kaziukenas, Katherine Masters, Matthew Lewis Organizations: REUTERS, Reuters, Walmart, UBS, U.S . House, PDD Holdings, Shipping, Thomson Locations: Singapore, China, U.S, Whitestown , Indiana, Shein, Indiana, Cherry Valley , California, York

☆ Monthly Meeting Q&A with Jim Cramer on 20 stocks in everything from tech to health care to retail
▼ + stars: | 2023-09-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

Jeff Marks: The upcoming earnings report should be good considering how strong the beer business is doing. Jim Cramer: Estee Lauder CEO Fabrizio Freda was adamant that this quarter wouldn't be any good so everyone is selling it. (Ronald) Jim Cramer: There is no pressure that could pull oil down with the Saudi Arabia oil cuts and Russia export cuts. Jeff Marks: These oil stocks have become great hedges to inflation again, much like they were last year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jeff Marks, Jim Cramer, Johnson, Arbitrageurs, Greg, There's, We're, Elliott Management's, I'd, Elliott, Morgan Stanley, Carey, we've, James Gorman, Jim, Estee Lauder, Fabrizio Freda, there's, Dave Cote, Darius Adamczyk, Vimal Kapur, Darius, hasn't, —, Ronald, Rick, We've Organizations: Investing Club, Broadcom, VMWare, AAA, Constellation Brands, Modelo, Elliott Management, Cisco, Palo Alto Networks, Honeywell, Morgan, Morgan Stanley Laguna, GE Healthcare, Natural Resources, Devon Energy, Halliburton, HAL, Costco, Walmart, Kirkland, CNBC Locations: Canada, Johnson, Mel , Pennsylvania, Manville, New Jersey, U.S, Carey , Virginia, Asia, Kyle , Wisconsin, PANW, Omar , Colorado, Saudi Arabia, buybacks, GEHC

Operating income in the FedEx unit, which delivers packages for retailers like Walmart (WMT.N), jumped 59% for the quarter ended Aug. 31. Analysts expect customer gains from UPS to be less durable than those from Yellow. "UPS will likely be able to regain much of its lost market share," Edward Jones analyst Matt Arnold said. Without offering a specific forecast, FedEx said it was "well-positioned" for the upcoming holiday season, when volume typically doubles due to e-commerce sales. FedEx tempered its full-year revenue forecast on Wednesday.

Persons: Raj Subramaniam, Edward Jones, Matt Arnold, D.E, Shaw, Lisa Baertlein, Priyamvada, Bill Berkrot, Leslie Adler Organizations: FedEx, UPS, Wall, United Parcel Service, Walmart, FedEx Freight, Thomson Locations: Memphis , Tennessee, Los Angeles, Bengaluru

WhatsApp has more than 500 million users in India, though regulators there have capped its in-app WhatsApp Pay service to only 100 million people. People shopping on WhatsApp could also pay using popular services like Alphabet Inc's (GOOGL.O) Google Pay, Paytm (PAYT.NS) and Walmart's (WMT.N) PhonePe but only after being redirected outside WhatsApp. Payments via those rival services - and any others that run on India's instant money transfer system UPI - will now be possible directly within WhatsApp, Meta said in a blog post. While WhatsApp Pay users will remain capped in India, there is no such limit on the number of users permitted to transact with businesses on WhatsApp using the other methods, a Meta spokesperson said. With some 300 million people spending about $180 billion via India's using UPI each month, the new transaction options could serve as a powerful lure to attract businesses to pay Meta for access to WhatsApp users.

Persons: Dado Ruvic, WhatsApp, Meta, Mark Zuckerberg's, Mukesh Ambani, Aditya Kalra, Katie Paul, Munsif Vengattil, Lisa Shumaker Organizations: REUTERS, Meta, Google, UPI, Facebook, Thomson Locations: India, WhatsApp, Chennai, Bangaluru, New Delhi, New York

☆ Target to hire 100,000 workers, start holiday promotions in October
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

Shoppers wait in line at Target on the Thanksgiving Day holiday in Burbank, California, November 22, 2012. REUTERS/Jonathan Alcorn/File Photo Acquire Licensing RightsSept 19 (Reuters) - Target (TGT.N) said on Tuesday it would hire nearly 100,000 employees for the holiday season, a number that has been consistent over the last two years, and offer discounts as early as October to attract inflation-weary shoppers. In 2022, Amazon.com (AMZN.O) had announced plans to hire 150,000 employees across its operations for the holiday season, while retail bellwether Walmart (WMT.N) had said it would add 40,000 workers in seasonal and full-time roles. Macy's said on Monday it would hire more than 38,000 full and part-time seasonal workers, fewer than the 41,000 workers it had announced to hire in 2022. In a bid to draw shoppers, Target said it would start offering items under $25 across categories including apparel, home goods, and essentials and was hosting a "Deal of the Day" program starting October.

Persons: Jonathan Alcorn, Macy's, Steve Sadove, Ananya Mariam Rajesh, Deborah Sophia, Rashmi Aich, Anil D'Silva Organizations: REUTERS, Mastercard, Challenger, Walmart, Thomson Locations: Target, Burbank , California, U.S, Bengaluru

Shoppers wait in line at Target on the Thanksgiving Day holiday in Burbank, California, November 22, 2012. REUTERS/Jonathan Alcorn/File Photo Acquire Licensing RightsSept 19 (Reuters) - Target (TGT.N) said on Tuesday it would hire nearly 100,000 employees for the holiday season, like in the past two years, and start offering discounts for the festive period as early as October. However, Amazon.com (AMZN.O) on Tuesday announced plans to hire 250,000 workers for the holiday season, higher than the 150,000 it planned to bring in last year. Macy's said on Monday it would hire more than 38,000 full and part-time seasonal workers, fewer than the 41,000 workers it had announced to hire in 2022. Major retailers, including Target, have warned of a hit to profit resulting from inventory theft.

Persons: Jonathan Alcorn, Macy's, Jessica Ramirez, Jane Hali, Sarah Henry, Henry, Ananya Mariam Rajesh, Deborah Sophia, Arun Koyyur, Anil D'Silva Organizations: REUTERS, Mastercard, Challenger, Tuesday, Retail bellwether Walmart, Associates, Target, Logan Capital Management, Thomson Locations: Target, Burbank , California, United States, Bengaluru

☆ 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

☆ Amazon opens its biggest last-mile delivery center in Latin America
▼ + stars: | 2023-09-14 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +2 min

MEXICO CITY, Sept 14 (Reuters) - Amazon (AMZN.O) on Thursday inaugurated its largest last-mile delivery center in Latin America, a warehouse in Mexico's capital, as it seeks to offer faster deliveries in one of the region's most populous cities. The new Mexico City site, measuring 30,000 square meters (more than 322,000 square feet), is the largest Latin America "delivery station" for Amazon, referring to warehouses that specialize in last-mile deliveries to consumers. Amazon also operates larger warehouses known as "fulfillment centers," which can be over 92,900 sq meters (a million square feet). Altogether Amazon operates about 40 warehouses throughout Mexico, employing more than 8,000 people directly and another 32,000 indirectly. Some 22 million people live in and around Mexico City, one of the biggest urban centers in Latin America.

Persons: Mercado, Diana Frances, Ken Salazar, Andres Manuel Lopez Obrador, Daina Beth Solomon, Sandra Maler Organizations: MEXICO CITY, Mercado Libre, Walmart, Amazon, Thomson Locations: MEXICO, Latin America, Mexico, Argentina, America, Mexico City

Walmart's logo is seen outside one of the stores ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 27, 2019. The merchandise mix Walmart (WMT.N) will carry rests not purely on retail executives' judgment but rather on software it developed around 2019. Its machine-learning algorithm relies on weather patterns and each store's past sales data to predict inventory needs of its more than 4,700 U.S. locations, a Walmart tech executive told Reuters. Walmart executives say it is aided by its large tech team in India, spanning three cities and employing 11,500. Software directs Walmart workers to use the quickest route while assembling online orders for pickup and delivery, Vasudev said.

Persons: Kamil Krzaczynski, D.A, Davidson, Michael Baker, Doug McMillon, Thomas Hayes, Hari Vasudev, Vasudev, David Klink, Huntington, Nandan Mandayam, Siddharth Cavale, Mark Porter Organizations: REUTERS, Walmart, Reuters, Target, Shoppers, Amazon, New, Great, U.S, Walmart's India, Software, Workers, Hunting Private Bank, Thomson Locations: Chicago , Illinois, U.S, United States, Bentonville , Arkansas, New York, India, Bengaluru, Target's, Walmart's

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