Higher food prices coming?

The CEOs of three of Canada’s major grocery chains doubled down on their expectation that food prices will soon rise at their stores.

Recent cost pressures on the industry, including rising minimum wages in some provinces, increased fuel and transportation costs and an ongoing trade war with the U.S., will soon result in some price inflation, said the chief executives of Metro Inc., Loblaw Companies Ltd. and Empire Co. Tuesday at Scotiabank’s back-to-school conference in Toronto.

Big gains on TSX

Canada’s main stock market posted its largest daily gain in more than two months on Tuesday as trade optimism produced a relief rally.

There is anecdotal evidence from the United States and Canada that they are closer to some sort of deal even though there is no concrete evidence, said Sid Mokhtari with CIBC Capital Markets.

FSA takes control of stock exchange following money laundering claims

But can Danske Bank take control when it faces the press on Wednesday to disclose the findings of its investigation into the activities of its Estonian branch

The Financial Supervisory Authority (FSA) has taken control of the Copenhagen Stock Exchange (CSE) following claims of money laundering. It has removed the executive board, which will no longer be able to exercise power on behalf of the CSE’s shareholders. Instead, decisions will be made by the FSA, which has commented that the issues at hand “have no private solution”. The takeover follows a review that revealed there was insufficient customer knowledge, and that the equity funds’ own system for monitoring complex and unusual transactions was inadequate.

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