Kroger-Albertsons Merger Blocked by Federal Judge

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In a major blow to Kroger and Albertsons, a federal judge has blocked their $24.6 billion merger. The ruling, in favor of the Federal Trade Commission (FTC), found that the proposed union would lessen competition for grocery shoppers. The FTC had argued that the merger would eliminate head-to-head competition between the top two traditional grocery chains, leading to higher prices for shoppers and reduced bargaining leverage for unionized workers. Kroger and Albertsons had tried to convince the judge that selling off 579 of the stores would preserve competition, but the effort was unsuccessful. The ruling essentially scuttles the merger, which would have seen Kroger own approximately 5,000 stores across the US.

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Vietnamese Real Estate Tycoon Faces Death Sentence for Fraud

Truong My Lan to Raise $9 Billion or Face Execution

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A Vietnamese court has upheld a death sentence for real estate tycoon Truong My Lan.**

Why?
For her role in a $12 billion financial fraud - the biggest on record in Vietnam.

What happens next?
Lan can request a review of the case and commute her sentence to life imprisonment if she raises 75% of the sums she embezzled, which totals $9 billion.

Stay tuned for updates.

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Labour Warned Over Potential National Insurance Hike

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A potential rise in employer national insurance contributions could hurt businesses and limit pay rises, experts warn.

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  • The hospitality sector, where staffing costs are the biggest business expense, would be particularly affected.
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Government Eases Row Over 'Rogue' Operator Claim

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Jamie Dimon's African Visit and Trump's False Endorsement Claim

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JPMorgan Chase CEO Jamie Dimon to Visit Africa:** In a push for growth, JPMorgan Chase CEO Jamie Dimon plans to travel to Africa in mid-October, visiting Kenya, Nigeria, South Africa, and Ivory Coast. Trump's False Endorsement Claim: Donald Trump falsely claimed that Jamie Dimon had endorsed him for president on his social media platform. Dimon has not endorsed Trump or made any endorsements in the 2024 presidential race. Market Impact: Overseas markets, including Africa, have been a key focus area for JPMorgan to generate growth. Tags: #business #finance #JPMorgan #Africa #Trump Category: news

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In a major move to improve online trust, the FTC has finalized a rule banning fake reviews, including those made with AI. The new rule, which will start being enforced 60 days after it’s published, aims to make it easier for people to find reliable reviews, especially on merchants like Amazon and Yelp. The rule prohibits marketers from using deceptive practices, such as AI-generated reviews, censoring honest negative reviews, and compensating third parties for positive reviews. The maximum civil penalty for fake reviews is $51,744 per violation. This decision was the result of a 5-to-0 vote, and it’s a long-awaited step towards a more trustworthy online review system. **Are fake reviews ruining your online shopping experience? The FTC has got your back!

Global Markets Tumble Amid Fears of US Economic Slowdown

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Markets Plunge Worldwide Amid US Economic Fears

  • *US stocks drop sharply
  • Dow Jones sheds 1.9%
  • S&P 500 down by 2.9%
  • Nasdaq composite falls 3.4%
  • *Global sell-offs
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  • South Korea’s Kospi loses 8%
  • Europe’s FTSE 100 down 2%
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