Core Viewpoint - Kroger and Albertsons are increasing the number of grocery stores sold to C&S Wholesale Grocers to address federal regulators' concerns regarding their proposed $25 billion merger, now involving the sale of an additional 166 stores [1][2]. Group 1: Updated Divestiture Agreement - The updated divestiture agreement will see C&S pay approximately $2.9 billion in cash for the stores, an increase from the original $1.9 billion payout [1]. - The new agreement will result in C&S acquiring a total of 579 stores, along with access to the Albertsons Signature and O Organics private label brands [1]. Group 2: Regulatory and Employment Commitments - Kroger's CEO emphasized that the updated plan ensures no store closures due to the merger, all frontline associates will remain employed, and existing collective bargaining agreements will continue [2][4]. - The agreement aims to maintain industry-leading healthcare and pension benefits for associates, alongside bargained-for wages [4]. Group 3: C&S Wholesale Grocers' Perspective - C&S Wholesale Grocers' CEO expressed confidence that the expanded divestiture package will provide the necessary resources for the stores to continue serving their communities effectively [4]. - C&S looks forward to integrating storied banners, quality private label brands, and experienced retail associates into its operations [4]. Group 4: Legal and Market Concerns - The Federal Trade Commission (FTC) and eight states have filed a lawsuit to block the merger, citing concerns over potential price increases, store closures, and job losses in the grocery market [6]. - Union representatives have raised concerns about C&S's ability to maintain store operations without adequate IT infrastructure and customer loyalty [8].

Electric vehicle-maker Tesla announced Saturday that it cut the price of its Full Self-Driving (FSD) driver assistant software by one-third as the company reaffirmed its commitment to self-driving technology. The change slashes the price for FSD software to $8,000 from $12,000 for U.S. customers. Tesla CEO Elon Musk believes the technology will eventually become a major source of revenue for Tesla, the world's most valuable automaker. However, the company has struggled and failed for years in its aim to ach ...

Ford Motor Co. celebrated the Mustang's 60th anniversary on Wednesday with the pony car now in its seventh generation, having become an icon of the American auto industry. The Ford Mustang debuted April 17, 1964, at the New York World's Fair and has carved out a unique legacy in the decades since its launch, even as its features have changed over time."Mustang has stylistically and performance-wise been a vehicle that appealed to the masses — anybody who wants a cool-looking car that goes fast, Mustang is t ...

Apple has removed popular messaging apps like WhatsApp, Telegram and Signal from its iPhone app store in China after the Chinese government ordered the company to do so, The Wall Street Journal reported Friday. "We are obligated to follow the laws in the countries where we operate, even when we disagree," an Apple spokesperson told the Journal, confirming Chinese officials demanded the tech giant scrub a number of apps over national security concerns. Ticker Security Last Change Change % AAPL APPLE INC. 167 ...

Netflix showed that its password-sharing crackdown continues to bear fruit, delivering its strongest first-quarter customer additions since the pandemic and further strengthening its position as the dominant global streamer. The company added 9.33 million subscribers in the first quarter, more than five times the number of customers it added during the same period a year earlier, with its efforts to limit password sharing continuing to bear fruit. Netflix began limiting password sharing in earnest about a y ...

During his "My Take," Thursday, "Varney & Co." host Stuart Varney reacted to Google firing employees after sit-in protests over its Project Nimbus contract with Israel, arguing the tech giant set an example for other businesses that face similar "disruptive behavior." STUART VARNEY: Finally, management gets a backbone. After sit-ins and disruption at its offices in California and New York, Google fired 28 workers.  'GOOGLERS AGAINST GENOCIDE' LEAD SIT-INS, PROTESTS COAST-TO-COAST AT TECH GIANT'S OFFICEIt's ...

Disneyland cast members such as the performers who portray characters like Mickey Mouse, Donald Duck and Cinderella have taken another step in their efforts to unionize. The employees are looking to join the Actors' Equity Association (Equity), which represents workers in live theatrical performance, and the union announced Wednesday that it has filed a petition with the National Labor Relations Board to hold a union election. The cast members seeking to organize have dubbed themselves "Magic United," and a ...

United Airlines released its first quarter earnings on Tuesday in which it indicated that it lost about $200 million due to the temporary grounding of the Boeing 737 Max 9 earlier this year. The Chicago-based airline announced that it had a pre-tax loss of $164 million for the quarter, which was an improvement of $92 million from the same quarter a year ago, and noted that the loss was caused by the 737 Max 9 grounding."These earnings reflect the approximately $200 million impact from the Boeing 737 Max 9 g ...

Tesla is asking its shareholders to reinstate CEO Elon Musk's pay package and to move the company's incorporation from Delaware to Texas, months after a judge rejected the chief executive's $56 billion compensation. Tesla shareholders voted to approve Musk's pay package in 2018, but a Delaware judge voided it in January, siding with investors that sued to challenge the compensation package, which is the largest ever for a U.S. executive. This is a developing story and will be updated. ...

Ford Motor Co. is celebrating the Mustang's 60th anniversary on Wednesday when it will unveil a special edition of the classic pony car to commemorate its legacy. In honor of the Mustang, which made its debut at the 1964 New York World's Fair, Ford is holding an event at Charlotte Motor Speedway in North Carolina. Joe Bellino, Mustang Brand Manager, told FOX Business that the company is "planning for just over 2,000 Mustang owners and fans to be in attendance and they'll be able to bring their own personal ...