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Grocery’s power imbalance has politicians, shoppers questioning rising prices – Business News

The flyer for the Victory Meat & Produce Market, a small grocer in New Brunswick, recently featured fresh local turkey for $3.99 a pound, two bags of carrots or onions for $4 and a bunch of celery for $2.29 — prices that rival its national competitors.

For 81 years, the independent store has offered quality products at affordable prices, earning it a loyal customer base despite the increasing dominance of national grocery chains.

“We have long-term relationships with suppliers and local growers, and staff that have been here for 20 years,” said Alex Scholten, co-owner of

Banks are in turmoil. Here’s how Canadians might be affected

All eyes are on the global banking sector after a sudden turmoil brought down or threatened a handful of US banks and one major European bank this month.

The collapse of Silicon Valley Bank (SVB), followed by the near death of two other regional institutions — First Republic and Signature Bank — left market-watchers jittery and fearful of a domino effect like the one that led to the global financial crisis of 2008 .

And that was before Credit Suisse — one of the biggest banks in the world, safely housed in Switzerland, of all places — came crashing down

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