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Business

3M Settles Minnesota Lawsuit for $850 Million

3M Co. has settled a lawsuit with Minnesota’s Attorney General Lori Swanson for $850 million, putting an end to eight years of litigation over a former Scotchgard ingredient that got into the state’s drinking water. loading… The funds will be used to finance projects that involve drinking water and water sustainability, according to statements from 3M […]

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Business

Why I Am Not Buying Walmart Shares On Today's Pullback

Before initiating  a new position, however, one must be comfortable with the underlying fundamentals, and understand the causes behind the market’s disappointment with WMT’s report.  Using classical methods for analyzing retail stocks, Walmart’s quarter looked just fine to me.  The key metric for a retailer is comparable store sales–“comps” in retail jargon–and WMT’s 2.6% comps […]

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Business

Walmart shares fall 10% as online sales slow

Walmart shares suffered their biggest percentage fall for more than three decades on Tuesday after reporting disappointing online sales figures for the Christmas period. loading… Online sales were 23% higher in the three months to December. However, that was less than half the growth recorded in the previous quarter and lower than in the same […]

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Business

Albertsons Might Be Buying a Lemon in Rite Aid

When Albertsons announced on Tuesday it was buying Rite Aid(rad), it touted a better ability to serve pharmacy customers as one of the deal’s many potential benefits. loading… But in Rite Aid, Albertsons, which operates grocers such as Safeway and Jewel-Osco on top of its namesake chain, is buying a severely diminished drugstore chain. Even […]

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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 […]