Latest news with #price gouging
BreakingNews.ie
07-08-2025
- Business
- BreakingNews.ie
No evidence of price gouging in supermarkets
The consumer watchdog has said there is no evidence of price gouging in the grocery sector. The Competition and Consumer Protection Commission said it conducted fresh analysis of food prices due to widespread commentary on the cost of living. Advertisement However, it found the price increases are generally below the European average, and it sees no evidence for an in-depth study of the grocery sector. 'Food price increases have generally remained below the European average, which coincides with increasing competition in Ireland,' it said. "The data available on profit margins does not indicate that margins are notably high when compared to international comparators." Social Democrats TD Jennifer Whitmore said the report is worrying. Advertisement Ireland 'Significant' rise in use of prescription pain med... Read More Ms Whitmore told Newstalk: "If you go to anyone who is going to the supermarket or buying anything at the moment, they know how expensive things are and how difficult it is to keep the household budget. "There is clearly a problem here. The fact that the consumer commission hasn't been able to identify exactly what that problem is, or indeed make any recommendations in order to address it, I think that is concerning." 'Not all of the large supermarket chains publish their Irish profits,' she added. 'It is wholly unsatisfactory for the consumer regulator to be denied information that is necessary for it to do its job — and it is outrageous that the Government has not acted to force large supermarket chains to publish their profits.'
Yahoo
22-07-2025
- Business
- Yahoo
Boycott of McDonald's to begin this week: ‘This is about more than burgers and fries'
A grassroots advocacy group is calling for a week-long boycott of McDonald's, accusing the fast food chain of price gouging, unfair labor practices, and avoiding taxes. 'This is about more than burgers and fries, this is about power,' The People's Union USA said in a statement on Instagram. 'When we unite and hit corporations in their wallets, they listen.' The group, which has previously called for boycotts of Amazon, Nestlé, Walmart, General Mills, and Target, accused the Golden Arches of a litany of unsavory tactics. Earlier this month, People's Union leader John Schwarz said McDonald's had a record of 'silencing' workers and blocking union attempts, as well as seeking to 'exploit global supply chains and environmental loopholes' and engaging in performative diversity initiatives while the corporation's 'political donations and lobbying often support candidates and legislation that undermine equity, labor rights, and marginalized communities.' The calls for a boycott come at a delicate time for the fast food giant, following a string of difficulties including a fall 2024 E coli outbreak linked to its Quarter Pounders, as well as decreasing sales and a backlash to its January decision to roll back diversity programs, joining numerous companies that took similar steps with the election of Donald Trump. The Independent has contacted McDonald's for comment. Last fall, Democratic senators accused McDonald's of price gouging in a letter to its corporate leadership. 'McDonald's own reports indicate that the company's price increases may be outstripping inflation,' read the October message from Senators Elizabeth Warren, Bob Casey, and Ron Wyden. 'As a result, McDonald's net annual income rose by over 79% — to nearly $8.5 billion — from 2020 to 2023.' McDonald's has strongly denied price gouging allegations and says its individual franchisees set menu prices, with an emphasis on affordability. Last year, fast food workers in California across various brands including McDonald's formed a union associated with the Service Employees International Union, a major development in an industry with low union penetration. The People's Union USA, which began attracting significant attention earlier this year, has quickly racked up endorsements from prominent celebrities for its efforts, including author Stephen King, actor John Leguizamo, and actress Bette Middler. A GoFundMe for the movement has raised more than $125,000 in the last four months. Its leader, Schwarz, a father of three and meditation teacher who lives in Chicago, was sentenced to 90 days in jail for alleged exploitation related to a cafe he once reportedly owned. In 2007, the activist was sentenced by a Connecticut judge to 90 days in jail for disseminating voyeuristic material, The New York Times reports. Schwarz, 39 at the time of the incident in question, was accused of photographing an unconscious 18-year-old's exposed breast and texting the image to her cell phone, per the paper. The teen worked at the now-closed Sugar Cube Cafe, which Schwarz owned, according to state records obtained by the Times. 'This whole thing was a big scam,' Schwarz told the paper. 'It's going to be expunged. I passed my polygraph test three times. Three times. I did not take a photograph. I did not do anything inappropriate to anybody.' The activist responded to the charge using an Alford plea, in which defendants don't technically admit guilt, but acknowledge prosecutors likely have the evidence to convict them, according to the report. Solve the daily Crossword
