Simone Del Rosario
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Albertsons sues Kroger, terminates $25 billion merger
Supermarket chain Albertsons announced Wednesday, Dec. 11, that it filed a lawsuit against Kroger. The suit comes after a district judge in Oregon blocked a $25 billion merger between the two companies. Albertsons claims Kroger didn’t do what was necessary to get regulatory approval for the deal. “Albertsons is seeking billions of dollars in damages… -
Inflation rate ticks up for second straight month ahead of next Fed decision
Consumer price inflation rose slightly in November 2024 at 2.7% annually, compared with 2.6% in October 2024. Monthly prices rose 0.3% from October, according to data released by the Bureau of Labor Statistics (BLS) on Wednesday, Dec. 11. Core inflation, which removes more volatile food and energy prices, rose 3.3% annually and 0.3% compared with… -
Kroger and Albertsons’ $25 billion mega-merger blocked by federal judge
A U.S. district judge blocked what would have been the largest U.S. merger in supermarket history on Tuesday, Dec. 10. The judge agreed with the Federal Trade Commission’s argument that Kroger’s $25 billion bid to takeover Albertsons would end up hurting shoppers. The FTC had argued eliminating the head-to-head competition between Kroger and Albertsons would… -
Rupert Murdoch blocked from changing family trust to cement Fox News control
Media mogul Rupert Murdoch lost in court trying to change the family trust to maintain his vision for Fox News and other properties. It’s the latest step in a real-life succession drama for the family that inspired the HBO series “Succession.” Rupert Murdoch, 93, wanted to change the family trust to take power away from… -
NY Gov. Hochul pitches $500 inflation checks as her popularity suffers
New York Gov. Kathy Hochul, D, wants to send inflation checks to millions of New Yorkers. Under her proposed budget for next year, the state would send $500 checks to families making up to $300,000, while individuals making up to $150,000 would receive $300. “We’re told inflation is getting better,” Hochul said during the policy announcement.… -
Macy’s activist investor may be ‘most truthful’ about retailer’s future
Macy’s is facing off with an activist investor for the fourth time in a decade. Activist investment firm Barington Capital and private equity firm Thor Equities say the company needs to cut spending, expand luxury brands and leverage its real estate portfolio. The investors say the real estate Macy’s sits on is worth as much… -
‘You’re not fired.’ Trump says he won’t try to remove Fed Chair Jerome Powell
In his first broadcast interview since the election, President-elect Donald Trump put to bed the notion he’d try to fire the chair of the Federal Reserve before his term expires in 2026. NBC’s Kristen Welker asked Trump during the hour-long exchange if he would try to replace Federal Reserve Chair Jerome Powell. “No, I don’t think… -
Nvidia dragged into US-China tit-for-tat over chip restrictions
The world’s second-most valuable company is caught in the back-and-forth between the United States and China. Beijing announced on Monday, Dec. 9, it launched an antitrust investigation into chipmaker Nvidia. China’s State Administration for Market Regulation said it suspects the company, crucial to the proliferation of artificial intelligence, is violating a promise it made during… -
Major surge in returns expected to increase during holiday season
Holiday shopping is expected to reach record highs this season, but a growing number of those purchases will be sent back, piling on to an already multibillion dollar problem for retailers. According to the National Retail Federation and return management company Happy Returns, returns in 2024 are projected to be 17% of all merchandise sales… -
There’s a new term to describe this job market’s vibes
Despite a strong jobs report for November, the job market vibe is mixed. The number of Americans reporting they want a new job is at a 10-year high, but many feel they have nowhere to go. Gallup is calling it the “Great Detachment,” years after the “Great Resignation” took hold. In workplaces around America, employees feel… -
Why November’s 227,000 jobs added is not as impressive as it seems
The U.S. jobs market beat expectations in November, adding 227,000 jobs after a bleak October report driven by hurricanes and strikes. At the same time, the unemployment rate ticked up to 4.2% from 4.1% in October, according to Labor Department data. Payroll employment has averaged 186,000 jobs added per month over the last 12 months.… -
Ramaswamy says DOGE will scrutinize Rivian loan and CHIPS Act awards
Department of Government Efficiency co-chair Vivek Ramaswamy is going to put President Joe Biden’s “last-minute spending spree” under a microscope. He claims the funding awarded months before a power transition is inappropriate and will receive special scrutiny. High on his list of spending to claw back is a $6.6 billion loan to EV maker Rivian… -
Anthem cancels controversial anesthesia policy after widespread outrage
Anthem Blue Cross Blue Shield is canceling a proposed policy change on anesthesia coverage after extensive backlash. On Nov. 1, Anthem announced they would soon cap anesthesia coverage to a certain time limit and would deny anesthesia claims that exceeded the allotted minutes. While the American Society of Anesthesiologists promptly reacted to the proposal, the…
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