Detached home dream dead

Vancouver councillors have ended two days of public hearings by voting to allow duplexes in most city neighbourhoods currently restricted to single-family homes.

Mayor Gregor Robertson says the decision is another step toward adding homes in the city for the so-called “missing middle,” which includes young families pushed out of Vancouver by soaring property prices.

Amazon under investigation

European authorities said Wednesday they have opened a preliminary antitrust investigation into Amazon over the e-commerce giant’s treatment of smaller merchants on its website.

EU Competition Commissioner Margrethe Vestager said she wants to examine how Seattle-based Amazon uses data it gathers through transactions, including those involving rival sellers, on its platform.

Forestry co. stocks tumble

Shares in Canadian forestry companies were down Wednesday after an analyst downgrade and lower-than expected building permits for the crucial U.S. housing sector.

CIBC analyst Hamir Patel said in a note that the bank has reduced its outlook on the industry, including downgrades on Interfor Corp., Resolute Forest Products Inc., and West Fraser Timber Co., as concerns mount about U.S. housing.

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.

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