Business

Grocery chain Albertsons to acquire Rite Aid

Grocery chain Albertsons announced plans Tuesday to acquire Rite Aid in a cash and stock deal, as the traditional grocery industry continues to look for growth by broadening offerings, not just store base. loading… div > div.group > p:first-child”> A combined Albertsons and Rite Aid would have a value of roughly $24 billion, including debt. […]

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Business

AT&T Loses Bid to Obtain White House Call Logs

Advertisement loading… WASHINGTON — A federal judge blocked AT&T’s ability to obtain communication logs between the Justice Department and the White House on Tuesday, hampering the phone giant’s argument that politics played a role in the government’s decision to halt a merger with Time Warner. Judge Richard J. Leon of United States District Court in […]

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Business

Ad Verification by Facebook Post Russian Fiasco

If Facebook does what it says, the snazziest company in the digital universe could use the oldest mailing systems in modern history to keep the US elections from foreign interference. Katie Harbath, the director of government outreach and global politics, told a gathering of National Association of Secretaries of State that the company will dispatch […]

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Business

Jewel-Osco owner Albertsons to buy drugstore chain Rite Aid — but Chicago shoppers won't see much impact

Albertsons, parent company of Jewel-Osco, announced plans Tuesday to buy drugstore chain Rite Aid in a deal that could help the combined company survive competitive pressure from giants like Walmart and Amazon amid the rise of online shopping. loading… Locally, the immediate impact for consumers appears minimal. Under the proposed deal, all Albertsons-owned store pharmacies […]

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Business

Slip in Walmart sales sends stock and Dow plunging

CLOSE The world’s biggest brick-and-mortar retailer, Walmart, is taking a page from Amazon’s playbook to boost its online sales, and it’s turning to the cloud. Jane Lee reports. Video provided by Reuters Newslook loading… A Walmart store in Landover, Maryland.(Photo: SAUL LOEB, AFP/Getty Images) Walmart’s online sales during the all-important holiday season slipped significantly from the […]

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Business

Walmart has big year of e-commerce investments planned to bring growth back to 40 percent

Investors are spooked that a cooling off of Walmart’s online sales could mean the company isn’t positioned to fend off Amazon‘s internet dominance after all. loading… div > div.group > p:first-child”> That fear sent shares tumbling more than 9 percent Tuesday, when Walmart said e-commerce sales grew just 23 percent during the latest quarter, lagging […]

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