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The Latest Breaking News from Sobeys

Ocado to axe 1,000 jobs amid £150 million cost-cutting overhaul

The group confirmed around 5 per cent of its global workforce is being cut

Evening Standard

Ocado plans cost-cutting drive with up to 1,000 jobs at risk, says report

Ocado Group declined to comment but said the business regularly reviewed operations to ensure it was set up for ‘long-term success’.

Evening Standard

Ocado says Canadian partner closing robotic warehouse in latest setback

Shares in Ocado fall almost 10% after revealing Sobeys will close Calgary site that uses UK group’s delivery technology

The Guardian - UK

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Ocado shares slide as Canadian grocery partner shuts robotic warehouse

It comes months after another US grocery chain decided to shut three Ocado-run warehouses and scrap plans for new sites.

Evening Standard

Trump’s tariffs could push grocery prices even higher, but there are steps Canada could take to protect consumers

The first months of Donald Trump’s presidency have been defined by a single word: tariffs. He has framed tariffs as a panacea to the woes of the American economy, promising they will restore the country’s manufacturing sector and reduce the national deficit.

The Conversation

The future is delayed at Ocado (again)

As shares drop by 12%, the ‘permanent shift to online grocery shopping’ its boss predicted during Covid looks absurd

The Guardian - UK

Inflation is down overall, so why are my grocery bills still going up?

Despite Canada’s inflation rate falling to its lowest point in two years, food prices remain high. The Consumer Price Index slowed to 2.8 per cent in June compared to last year, but food prices increased by 8.3 per cent. Food prices in stores increased by 9.1 per cent.

The Conversation

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Increasing monopoly power poses a threat to Canada's post-pandemic economic recovery

Canada is currently grappling with a significant economic issue: market concentration. A select few corporations dominate key sectors, leading to reduced competition, rising prices and limited purchase options for consumers.

The Conversation

The Indigo Cyberattack Is a Warning of Things to Come

Those handling state secrets or critical infrastructure seem to fare no better than a bookstore chain

The Walrus

Will Groceries Ever Be Affordable?

Food insecurity expert Sylvain Charlebois explains why flawed business regulations are making food unaffordable

The Walrus

Rising Food Prices: Could a Grocer Code of Conduct Help?

The clock is ticking as retailers and suppliers hammer out new guidelines to boost transparency

The Walrus

Why Loyalty Ventures Shares Are Getting Hammered Today

Loyalty Ventures Inc (NASDAQ: LYLT) shares are trading lower by 49.68% at $5.54 after the company said it will reevaluate its 2022 revenue and EBITDA guidance and said its AIR MILES reward program and AIR MILES sponsor Sobeys were unable to align on extension terms.

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