President Biden faces calls to take on grocery store price-fixing issue

seekingalpha05-14

A group of Democratic lawmakers is calling on President Joe Biden to investigate grocery store chains for price manipulation. In an interview on Monday, Senator Elizabeth Warren (D-Mass.) highlighted ...

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In an interview on Monday, Senator Elizabeth Warren (D-Mass.) highlighted ...</p>\n\n<a href=\"https://seekingalpha.com/news/4105368-president-biden-faces-calls-to-take-on-grocery-store-price-fixing-issue\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>President Biden faces calls to take on grocery store price-fixing issue</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPresident Biden faces calls to take on grocery store price-fixing issue\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-14 02:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4105368-president-biden-faces-calls-to-take-on-grocery-store-price-fixing-issue><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A group of Democratic lawmakers is calling on President Joe Biden to investigate grocery store chains for price manipulation. In an interview on Monday, Senator Elizabeth Warren (D-Mass.) highlighted ...</p>\n\n<a href=\"https://seekingalpha.com/news/4105368-president-biden-faces-calls-to-take-on-grocery-store-price-fixing-issue\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GIS","symbol_name":"通用磨坊","start_time":0,"source_url":"https://seekingalpha.com/news/4105368-president-biden-faces-calls-to-take-on-grocery-store-price-fixing-issue","article_id":"2435169306","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1409896506/image_1409896506.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2435169306","pubTimestamp":1715623749,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"A group of Democratic lawmakers is calling on President Joe Biden to investigate grocery store chains for price manipulation. 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In an interview on Monday, Senator Elizabeth Warren (D-Mass.) highlighted that big food companies want to \"keep these huge profits\" and are hiring plenty of lobbyists to keep Congress from acting. Warren said President Biden should use executive authority to take additional enforcement action against rising food prices without the help of Congress. Earlier in the year, Warren and Representative Mary Gay Scanlon (D-Penn.) led a group of 14 lawmakers in sending a letter to Federal Trade Commission Chair Lina Khan asking the agency to revive enforcement of the 1936 Robinson-Patman Act, which they called a critical tool to promote fair competition in the food industry. In the letter, the lawmakers called on the FTC to investigate potential RPA violations and, when merited, bring lawsuits under the RPA to protect consumers, small businesses, farmers, and workers. The letter was sent after the FTC released a report that indicated consumers felt the negative effects of supply chain disruptions in the form of skyrocketing prices for groceries and product shortages for essentials due in part to excessive consolidation of food suppliers. Some Republicans have warned that the anti-gouging legislation could prolong shortages of some goods and services. While food prices have seen only small rises in recent CPI reports, the spike between 2020 and 2023 is still being felt by U.S. households. Companies such as Kraft Heinz (NASDAQ:KHC), General Mills (NYSE:GIS), PepsiCo (PEP), Mondelez International (NASDAQ:MDLZ), Kellogg (K), J.M. Smucker (SJM), Lamb Weston (LW), Pilgrim's Pride (PPC), BellRing Brands (BRBR), and Post Holdings (POST) have not seen sizzling earnings reports due in part to consumers pushing back on pricing and the dominant collective position of Kroger (KR), Albertsons (ACI), Target (TGT), Costco (COST), and Walmart (WMT) in setting supplier terms.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.23.1","shortVersion":"4.23.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2435169306"}