Quebec to force gas stations to report their prices. Will it lower fuel costs? - CBC.ca

Quebec wants to boost transparency around gas prices.

The province will force gas stations to report their prices to the government, and it's going to publish them online. 

Pierre Fitzgibbon, Quebec's economy minister, made the announcement on Thursday as he revealed a government-commissioned study that recommended making some changes to how Quebec regulates gas stations. 

The changes are meant to lower prices, especially in regions where it is more expensive. The study, conducted by Montreal economics professor Robert Clark, found that gas is more expensive in the Capitale-Nationale, Gaspésie and Côte-Nord regions in particular.

"We see that the price trend in some local markets is simply incoherent with what we would like to see in a competitive gasoline market. So clearly that bothers me," Fitzgibbon said.

In his report, Clark raised several possible explanations for the price disparities, including the structure of local markets and the concentration of gas station ownership.

'Floor price' to be removed

His report made several recommendations intended to protect consumers. Fitzgibbon said Thursday that Quebec would adopt two of them: the mandatory publishing of gas prices on a government website and repealing a floor price on gasoline.

The "floor price" was written into Quebec's Petroleum Products Act. It was intended to prevent larger players in the gas market from undercutting smaller players. 

Fitzgibbon said it was no longer useful and the amendment to remove it from the law would be introduced at the end of the parliamentary session. 

"We wanted to protect the independents from predators who wanted to concentrate the market so they could, of course, charge higher prices," he said. "Consolidation has taken place, and there has been a very high level of concentration for several years now. So, the clause as such hasn't really helped."

But Pierre-Olivier Pineau, a professor in the department of decision sciences at HEC Montréal, said the abolition of the gasoline "floor price" will have no affect on prices consumers see at the pump.

He said he thinks the best way to reduce the price of fuel is to reduce demand by encouraging alternative modes of transportation. 

"If sellers manage to raise prices, it's [thanks to] the very strong demand," he said. "That gives them power, and everything from carpooling, public transit, telecommuting — all those are tools to fight against the sellers' market power," Pineau said in an interview with Radio-Canada. 

WATCH | A closer look at last month's jump in gas prices: 

What's behind the jump in gas prices?

29 days ago

Duration 1:31

In 24 hours, prices rose an average of 15 cents per litre in Quebec and Ontario — that's the highest increase in nearly two years.

Fitzgibbon said he expects the measure — and the new transparent gas price registry — to lower prices. 

"I think daily or weekly transparency will mean that people will be able to go where it's cheaper, on the one hand, and on the other, well maybe it will have an effect, a positive pressure on the ecosystem too because it's going to be more visible," he said. "People, journalists are going to follow it, everyone's going to follow it."

Simon Bourassa, spokesperson for the Canadian Automobile Association's Quebec branch (CAA Québec), said the association was in favour of any measure that could lower the price of gasoline. 

CAA Québec has an online platform that keeps track of gas prices, but Bourassa said that forcing gas stations to report the price will help people shop around for it. 

"We hope it has a favourable effect on the price of gas," Bourassa said.

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After fighting the grocery code of conduct, Loblaw agrees to join - CityNews Toronto

World’s #1 golfer Scottie Scheffler arrested at PGA championship

In a span of four hours, the top-ranked golfer in the world was arrested wearing gym shorts and a T-shirt, dressed in an orange jail shirt for his mug shot, returned to Valhalla Golf Club in golf clothes and made his 10:08 a.m. second-round tee time.

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Loblaw's participation in grocery code 'a big step in the right direction': Trudeau - Canada News - Castanet.net

Photo: The Canadian Press

Prime Minister Justin Trudeau says with the biggest Canadian grocer now on board, the grocery code of conduct is much more likely to succeed. Shoppers browse goods in the produce section of a Toronto Loblaws on Friday, May 3, 2024. THE CANADIAN PRESS/Chris Young

Prime Minister Justin Trudeau says with the biggest Canadian grocer now on board, the grocery code of conduct is much more likely to succeed. 

On Thursday, Loblaw said it would sign on to the grocery code of conduct after months of negotiations to clarify parts of the agreement.

The code is meant to level the playing field for suppliers and smaller retailers in the Canadian food industry. 

Speaking to media after a news conference in Winnipeg, Trudeau said Loblaw’s participation is a big step in the right direction. 

Last December, Loblaw said it wouldn’t sign the code as it stood then over concerns it would raise prices for Canadians. 

In recent months, pressure has mounted for governments to make the code, which is meant to be voluntary, into law so that all the grocers have to participate. 

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What is the grocery code of conduct, and how could it impact food prices for Canadians? - The Globe and Mail

Open this photo in gallery:

Various brands of bread sit on shelves in a grocery store in Toronto in November, 2017.Doug Ives/The Canadian Press

Canada’s grocery code of conduct is a set of rules and guidelines that seek to improve fair dealings in the industry, especially between big grocers and their suppliers. These suppliers include both farmers, as well as producers of various kinds of processed foods.

Loblaw Cos. Ltd., one of two large grocers that had held out on agreeing to comply with the code of conduct, announced Thursday that they were ready to abide by the rules set out in the code if other retailers such as Walmart also came on board.

What is the grocery sector code of conduct?

In recent years, suppliers have complained about unfair “compliance fines” slapped on by large grocers if their product orders don’t arrive on time, even when the disruptions are caused by supply chain problems that are out of companies’ control.

Big grocers such as Loblaw, on the other hand, have called out suppliers for “outsized cost increases,” as big box stores face anger from consumers over food inflation.

The code of conduct sets out processes to resolve disputes in the grocery industry and addresses issues such as arbitrary fees, cost increases imposed without notice and late payments.

“Parties to the code have an obligation to negotiate with one another in good faith and conduct business in the spirit of fair and ethical dealing,” the proposed code says. “Parties to the code may not alter contracts unilaterally.”

To ensure compliance, sanctions are proposed against repeated violations, including potentially publicizing consistent bad behaviour.

Who designed the code of conduct?

In 2021, a working group of federal, provincial and territorial ministers of agriculture called for the formation of an industry group to improve transparency and fair dealing practices between suppliers and retailers in Canada.

This new steering committee consisted of small, medium, and large enterprises “including retailers, manufacturers, distributors, wholesalers, processors and producers,” according to the group’s website.

Why was the code created?

Initial government consultations around the need for a national code of conduct for grocery industry stakeholders were triggered in response to contentious fees being charged to suppliers by large grocery retailers, which have significant bargaining power because of their scale and monopoly in the Canadian market.

Subsequently, the industry committee behind the grocery code was formed, and they held consultations for more than two years, presenting their proposed code in 2023.

The federal government wanted the code to be a national industry-lead venture, instead of trying to legislate individual codes in each province and territory. Since it is not enforceable by law, compliance to the code has been voluntary, but the government has threatened to bring in legislation if Walmart and Loblaw continued to hold out.

How does the grocery code of conduct affect consumers?

The code intends to prevent big retailers from unilaterally jacking up fines and fees for suppliers, which have complained that they lack the leverage to negotiate with five grocery companies controlling roughly 80 per cent of the Canadian market.

Loblaw and Walmart have said they are concerned the new rules would swing the power balance too far, resulting in higher food prices for Canadians.

“A one-sided code that removes a retailer’s ability to hold vendors accountable to their commitments would risk higher prices,” Loblaw chair Galen Weston told MPs in an agriculture committee meeting in December, 2023.

Food groups representing suppliers and independent grocers contested Weston’s statements, saying his example of a similar grocery code in Australia supporting manufacturers’ requests for increasing prices “essentially 100 per cent of the time” was misinforming Parliament.

There’s no evidence that a grocery code of conduct would raise food prices for Canadians, said Michael Medline, the president and CEO of Sobeys’s parent company.

Are there other ways in which consumers are involved?

While the code of conduct largely deals with the supplier-retailer relationship, there is also a small technical framework for retailers to be able to charge suppliers for resolving consumer complaints.

Apart from this, the code does not directly deal with consumers or the prices they are charged by retailers. Instead, the new system hopes to bring about “fair and ethical dealings” across the industry.

With reports from Susan Krashinsky Robertson and The Canadian Press

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What's open and closed on Victoria Day 2024 - CBC.ca

Ottawa

The Victoria Day federal holiday falls on May 20, 2024. By law, many public facilities and private businesses will be closed with a few exceptions. Here's the rundown.

Most municipal services will close, beach washrooms and splash pads will open

CBC News · Posted: May 17, 2024 4:00 AM EDT | Last Updated: 6 hours ago

People pose for photos among the tulips in Ottawa's Commissioner's Park on May 4, 2024. (Justin Tang/The Canadian Press)

The Victoria Day long weekend — or May Two-Four, as it's known by some — marks the beginning of the summer season for many Canadians.

The federal holiday on Monday means most businesses and public facilities won't be open, barring a few exceptions.

Here's a look at what's open and closed in Ottawa on Victoria Day this Monday, May 20. 

Retail

• Certain areas of the city, such as the Glebe and ByWard Market, can open stores on holidays under the province's Retail Business Holidays Act if they want. This also applies to grocery stores.
• The Rideau Centre and Tanger Outlets will be open from 10 a.m. to 6 p.m.
• Bayshore Shopping Centre, St. Laurent Shopping Centre and Place d'Orléans will be closed.

Groceries

• Most grocery stores in the city will be closed, but there are a few exceptions in places under the act mentioned above. 

Alcohol

• All LCBOs and most Beer Stores will be closed.
• Three Beer Store locations will be open from 11 a.m. to 6 p.m.: 1860 Bank St., 1984 Baseline Rd. and 548 Montreal Rd.

Parking and transit 

• All City of Ottawa parking regulations and restrictions will apply.
• OC Transpo will run a Sunday schedule.
• Para Transpo will operate on a holiday service, with regular bookings automatically cancelled. The reservation line is open 7 a.m. to 5 p.m. Monday and the cancellations and information line, from 6 a.m. to 12:30 a.m.
• The taxi coupon line will remain open. 
• OC Transpo's on-demand pilot will run Sunday and Monday.
• The OC Transpo customer service line will operate from 7 a.m. to 9 p.m.
• OC Transpo's Rideau Centre customer service centre will be open.

Ottawa's Hurdman LRT station around sunrise one morning earlier this month. Under Sunday service, the Confederation Line runs roughly from 8 a.m. to 11:30 p.m. (CBC)

Recreation

• City pools, arenas and fitness centres will be operating on modified schedules. The city suggests reaching out to facilities directly to find their schedules.
• Most city art centres, theatres, galleries, archives and museums will be closed. Les Lye Studio Theatre will be open for a rehearsal.
• The National Gallery of Canada and agriculture, aviation, history, nature, science and war museums are open.
• The Ottawa Art Gallery is closed.
• Splash pads will open on May 18. If weather delays the opening, it will be posted to the City of Ottawa website. 
• Washrooms will open at Mooney's Bay, Britannia Beach, and Petrie Island — if water quality permits — on May 18. 

City services

• There will be no garbage, recycling, green bin or bulky item collection. Pick up will resume on Tuesday and collection will be delayed by one day for the rest of the week.
• Ottawa City Hall and client service centres at Ben Franklin Place, 580 Terry Fox Dr. and 255 Centrum Blvd. will be closed.
• The provincial court at 100 Constellation Dr. will also be closed.
• The city's 311 contact centre will be open for urgent matters.
• The Trail Road Waste Facility will be open from 9 a.m. to 5 p.m. 
• All branches and services of the Ottawa Public Library will be closed. Digital content will still be available through its website.

Health, dental, and child care services

• The Sexual Health Clinic and satellite clinics will be closed.
• The Health811 line will be open.
• City child-care centres will be closed. The Parenting-In-Ottawa drop-ins will be closed.
• The city's dental clinics will be closed.
• The Site program office and supervised consumption services at 179 Clarence St. will be closed. The Site Mobile Van will operate from 5 p.m. to 11:30 p.m.

Corrections and clarifications|Submit a news tip|

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The Most Splendid Housing Bubbles in Canada: Spring Rally Fizzles, Prices -14% from Peak in Feb 2022, Below Sep 2021 - WOLF STREET

New listings rise, inventory does 2nd biggest jump on record. Toronto prices -15% from peak, but Vancouver only -3.4%, Calgary sets new high.

By Wolf Richter for WOLF STREET.

Home prices in Canada were unchanged for the second month in a row in April from March, after a series of declines, seasonally adjusted, according to the Composite MLS Home Price Index from the Canadian Real Estate Association (CREA) on Wednesday, as prices of single-family houses inched up 0.1% for the month, while condo prices dipped 0.4%.

Year-over-year, the index declined by 0.9% seasonally adjusted, the first year-over-year decline since July, and by 1.8% not seasonally adjusted. From the peak in February 2022, the index has fallen by 14% and is back where it had first been in September 2021.

Home sales fell 1.7% in April from March and sank further below the 10-year average. Sales were still 10% higher than the starved levels in April a year ago – “however, a significant part of that gain likely reflected the timing of the Easter long weekend,” CREA pointed out.

New listings rose by 2.8% in April from March, and with the decline in sales, overall inventory jumped by 6.5% to the highest level since before the pandemic, and the second biggest jump on record, according to CREA.

Supply rose to 4.2 months, up from 3.9 months in March, and the highest supply since the beginning of the pandemic.

The Bank of Canada has tightened policy via rate hikes and QT to crack down on inflation. It hiked its overnight rate to 5.0% by July, where it still is, and it has shed 64% of its pandemic QE assets. This has put a damper on the housing market that had incredibly ballooned from already dizzying levels, fueled by the BOC’s free-money policies.

Home Prices in the most splendid Housing-Bubble Markets.

Greater Toronto Area, single-family houses: The MLS Home Price Benchmark Index for single-family houses (all prices in Canadian dollars):

• Month-to-month: +0.3% to $1,321,400; below October 2021
• From peak in February 2022: -15.1%, or -$235,600
• Year-over-year: +0.2%.

Greater Toronto Area, Condos:

• Month-to-month: +0.3% to $684,100, below November 2021
• From peak in February 2022: -12.4%
• Year-over-year: -0.8%

Hamilton-Burlington metro single family houses (in the “Greater Toronto and Hamilton Area”): Single-family benchmark price:

• Month-to-month: +1.2% to $905,900, back to June 2021
• From peak in February 2022: -20% or -$224,400
• Year-over-year: -0.8%

Hamilton-Burlington condos:

• Month-to-month: +0.7%, to $533,200, back to October 2021
• From peak in April 2022: -16.2%
• Year-over-year: -0.9%

Greater Vancouver single-family houses:

• Month-to-month: +0.5% to $2,004,100, back to January 2022.
• From peak in April 2022: -3.4% or -$59,500
• Year-over-year: +6.5%, the smallest gain since October.

Greater Vancouver condos:

• Month-to-month: -0.2% to $764,800, back to April 2022.
• Year-over-year: +3.5%, the smallest gain since July.

Victoria, single-family houses:

• Month-to-month: -0.1%, to $1,124,900, back to October 2021
• From peak in April 2022: -11.2% or -$142,000
• Year-over-year: -0.1%

Ottawa, single family houses:

• Month-to-month: +0.2% to $711,800, below June 2021
• From peak in March 2022: -11.1% or -$88,900
• Year-over-year: +2.2%.

Calgary, single family houses:

• Month-to-month: +0.4% to new high of $668,100
• Year-over-year: +11.9%.

Montreal, single family houses:

• Month-to-month: -0.4%, to $610,000, below January 2022
• From peak in May 2022: -4.2%
• Year-over-year: +3.6%.

Halifax-Dartmouth, single family houses:

• Month-to-month: +2.1% to $541,200
• From peak in February 2022: -3.6%
• Year-over-year: +4.7%.

Quebec City Area, single-family houses:

• Month-to-month: +1.5% to $400,600
• Year-over-year: +7.3%
• Eked out new high.

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Ontario's 'Crypto King' arrested after Durham police's largest fraud investigation ever - CBC.ca

Ontario's self-proclaimed Crypto King was arrested and charged with fraud and money laundering this week after what Durham Region's police chief called the "largest fraud investigation" the region had ever seen.

Aiden Pleterski, 25, was arrested on May 14 and then released on bail the same day, with his parents putting up a $100,000 surety, according to court documents.

"It's alleged that Pleterski solicited funds from investors promising massive profits and also guaranteeing no loss for the original money put out by investors," Chief Peter Moreira told reporters at a news conference in Whitby, Ont. Thursday.

"These investors became concerned when they were unable to access money held by Pleterski and came forward to police."

Those complaints about Pleterski and his company AP Private Equity, in July 2022, kicked off a joint-investigation between Durham Regional Police and the Ontario Securities Commission (OSC) dubbed Project Swan, according to Moreira. 

Durham police say they first received complaints about investment fraud concerning Pleterski in July 2022. (aiden_pletersik/Instagram)

During the 18-month investigation, police executed more than 40 court orders to gather evidence, reviewed thousands of financial documents and conducted "countless" interviews. Four other Ontario-based police services also helped with the investigation along with the Canada Border Services Agency and the U.S. Department of Homeland Security.

One of Pleterski's associates, Colin Murphy, 27, was arrested four days before him and was also charged with fraud over $5,000. CBC Toronto previously reported on Murphy's sentencing for contempt of court in a lawsuit from an investor trying to recover $120,000 given to Murphy to invest with Pleterski. He was sentenced to five months in jail, but was released in March pending an appeal of the sentence.

On Thursday, police wouldn't say how many victims came forward as part of their investigation, only that "millions" of dollars were allegedly defrauded by Pleterski and Murphy.

Pleterski still posting on social media

For his part, Pleterski has posted several TikTok videos since he was released on bail. Following the news conference on Thursday he posted a message to his Instagram that said: "So many of you guys are supportive, y'all are amazing."

Pleterski's arrest is just the latest twist in a CBC Toronto investigation into the Crypto King, which has also included the arrest of one of his investors, for allegedly kidnapping him in December 2022, and a Canadian NBA star successfully suing to get out of his $8.4 million purchase of a lakefront mansion where Pleterski used to live.

CBC Toronto's extensive reporting on Pleterski over nearly two years revealed that investors have been trying to track down more than $40 million they gave him to invest in cryptocurrency and foreign exchange. Pleterski was forced into bankruptcy by some investors in the summer of 2022. Since then, a Toronto-based bankruptcy proceeding that's being heard in Ontario Superior Court has recovered about $3 million for roughly 160 investors.

An investigation by a licensed insolvency trustee found Pleterski only invested about two per cent of investor funds while spending nearly $16 million on himself — renting private jets, going on vacations, adding luxury cars to his collection and leasing a lakefront mansion prior to his bankruptcy.

Last fall, Pleterski was still jet-setting to U.K., Miami and Australia. 

A placard on display at the news conference shows photos of Aiden Pleterski, 25, and Colin Murphy, 27. (Nicole Brockbank/CBC )

Stephen Henkel, senior investigator for the OSC, said "the size of the alleged fraud was massive" and spanned several jurisdictions.

"The investigative team included forensic accountants from the OSC," he said. 

"This specialized skill set was vital in the investigation because it enabled us to analyze huge volumes of financial information, quantify the alleged fraud and follow the money." 

Neither Pleterski nor Murphy were registered "in any capacity" with the regulator, according to Henkel, meaning they were not legally permitted to engage in the business of trading securities or providing investment advice.

"It is critical that all those considering whether to purchase digital assets or any investment product first check whether the person or the business they deal with is registered with Canadian securities regulators," Henkel said.

Police urge victims to come forward

Both Durham police and the OSC urged anyone who may have been a victim of Pleterski, Murphy or AP Private Equity to come forward to police.

"This was a very long investigation, we spoke to multiple witnesses ... we know that there's are plenty more out there," said Det. Dave Jaciuk from Durham police's financial crime unit. 

"A lot of lives have been devastated by this."

Fraud-recovery lawyer Norman Groot has been following the Crypto King's case since he was forced into bankruptcy and is representing the investor who sued Murphy to recover the $120,000 he gave him. Groot told CBC Toronto the charges are "a long time coming."

Norman Groot, a fraud-recovery lawyer, said the charges against Pleterski and Murphy are "a long time coming." (Paul Borkwood/CBC)

"It's a positive result for many of the victims," he said. "They've been hoping for this, and the conditions that are likely placed on his bail release should put a dent on his lifestyle of flaunting this money all over the world."

Pleterski's bail conditions include surrendering his passport, not contacting investors, refraining from making any social media posts involving financial matters like investments, and not buying or trading cryptocurrencies, according to court records.

His next court appearance is set for June 10. 

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