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Lobsters have long been a staple of the Maine economy, worth roughly $388 million last year alone, but climate change is putting the catch at risk. Now lobstermen and women, along with local entrepreneurs, are turning to a new and potentially even more lucrative staple: Seaweed. Seaweed is also a natural carbon sink, helping the ocean to absorb excess carbon dioxide from the atmosphere. Aquaculture in general, and seaweed in particular, is an essential economic driver for the state of Maine. Atlantic Sea Farms works with 27 lobstermen up and down the coast.
Persons: Bri Warner, Warner, Gamble Organizations: Toyota, Procter, Gamble, Gillette, CNBC, Kroger Locations: Maine, The, Portland , Maine
'X' logo is seen on the top of the headquarters of the messaging platform X, formerly known as Twitter, in downtown San Francisco, California, U.S., July 30, 2023. "I didn't always have access to other people who were doing (brand safety) work," he said of his time at Twitter. Before acquiring Twitter, Musk had criticized the platform for limiting free speech by removing certain content and having a politically liberal bias. Still, Brown said he felt supported in his brand safety work by Musk and Ella Irwin, Twitter's then-head of trust and safety, who resigned days before Brown. FALLING REVENUEOn Monday, Musk said X's declining ad revenue was primarily due to pressure from the Anti-Defamation League (ADL).
Persons: Carlos Barria, AJ Brown, Musk, Linda Yaccarino, Brown, NBCUniversal, Ella Irwin, Twitter's, AJ, Jonathan Greenblatt, X, Sheila Dang, Kenneth Li Organizations: REUTERS, Elon Musk, Twitter, Brand Safety Institute, BSI, Kroger, Defamation League, Anti, Defamation, ADL, Center, X, Thomson Locations: San Francisco , California, U.S, Dallas
The deal would give privately held C&S, primarily a supplier rather than an operator of grocery stores, a much more significant footprint. The stores that Kroger and Albertsons plan to shed are primarily in the Pacific Northwest and the Mountain states, along with some in California, Texas, Illinois, and the East Coast, the sources said. Bloomberg News reported about the talks between C&S, Kroger and Albertsons on Monday, as well as SoftBank's involvement but gave no information about the deal terms. Previously, Kroger and Albertsons said they may divest between 100 and 375 stores by placing them in a new company that Albertsons shareholders would own. In a regulatory filing Kroger said the upper limit for divestitures was 650 stores.
Persons: Rick Cohen, Cohen, SoftBank, Kroger, Ahold, Anirban Sen, Abigail Summerville, Juby Babu, Sherry Jacob, Phillips, Rashmi Aich, David Gregorio Our Organizations: Kroger, Albertsons Cos Inc, S Wholesale Grocers, Grand Union, Piggly, SoftBank Group Corp, Symbotic Inc, Albertsons, Bloomberg News, Thomson, & $ Locations: Pacific Northwest, California , Texas , Illinois, East Coast, New York, Bengaluru
The deal value and the number of stores included in the transaction could not be immediately learned. C&S lost one of its largest customers, Ahold Delhaize (AD.AS), when the supermarket group decided to transition to self-distribution in 2019. Kroger, Albertsons, C&S and SoftBank did not respond to Reuters' request for a comment. Reuters had reported in February that Kroger and Albertsons were advancing their plans to sell between 250 and 300 stores that they hope will alleviate U.S. antitrust concerns over their combination. In March, the companies reiterated that they would divest some stores to win the regulatory clearance required to go ahead with the merger.
Persons: Ahold, SoftBank, Kroger's, Juby Babu, Anirban Sen, Abigail Summerville, Sherry Jacob, Phillips, Rashmi Organizations: S Wholesale Grocers, SoftBank, Kroger, Albertsons Companies Inc, Reuters, Bloomberg, Albertsons, Federal Trade Commission, Thomson Locations: Pacific Northwest, Southern California, Phoenix, Chicago, Bengaluru, New York
Crude oil prices pushed higher, adding to inflationary pressures at a time when investors are hoping to see central banks back away from interest rate hikes. Energy stocks rose along with crude oil prices after Saudi Arabia and Russia said they will extend their voluntary production cut of 1 million barrels of oil a day through the end of the year. Much of the information fueled hopes that the Fed might moderate interest rate increases to fight inflation, which has been easing for months. Wall Street expects the Fed to hold its benchmark interest rate steady at its next meeting later in September, just as it did at its previous meeting. The central bank has raised its main interest rate aggressively since 2022 to the highest level since 2001.
Persons: ” Stephen Innes, Russell, Cintas, Brent, Kroger, Alex Veiga, Damian J, Troise Organizations: Japan’s Nikkei, Management, Labor, Dow Jones, Nasdaq, New York Stock Exchange, Merck, Co, JPMorgan Chase, Microsoft, Energy, Chevron, New York Mercantile Exchange, Institute for Supply Management, GameStop, Dave, AP Business Locations: Asia, U.S, Seoul, Australia, Shanghai, Saudi Arabia, Russia
NEW YORK (AP) — Stocks wavered on Wall Street Tuesday as traders return from a long holiday weekend to face a relatively quiet week. The Dow Jones Industrial Average slipped 43 points, or 0.1%, to 34,792 as of 11:22 a.m. Eastern. Hong Kong’s benchmark fell 2.1%, as investors sold real estate shares which have gained recently following government efforts to support the ailing industry. Wall Street will also get updates on aspects of the manufacturing sector and consumer credit. Analysts are still concerned about the potential for a recession, but those concerns have lessened as inflation cools and the economy remains resilient.
Persons: — Stocks, Kroger, — Elaine Kurtenbach, Matt Ott Organizations: Dow Jones, Nasdaq, Labor, Technology, Microsoft, . Union Pacific, Energy, Chevron, Investors, The Institute for Supply Management, GameStop, Dave, Federal Reserve, Treasury Locations: U.S, Saudi Arabia, Russia, Europe, Asia
New York CNN —Labor Day is here, which means summer is winding down and schools are reopening. The first Monday in September also commemorates the American labor movement and contributions workers have made to the US economy. But if you have errands to run, here are the businesses and institutions that will be open and closed on Monday, September 4. Kena Betancur/VIEWpress/Corbis/Getty ImagesMost Walgreens and CVS (CVS) stores will be open during normal hours as well. CVS (CVS) said to call ahead to local stores as some pharmacy hours may be reduced, and other locations could be closed.
Persons: Kena Organizations: New, New York CNN, Labor, Walmart, Kroger, KR, Costco, Walgreens, CVS, United States Postal Service, FedEx, FedEx Office, Banks Labor, NASDAQ, New York Stock Exchange, Government Federal Locations: New York, Teterboro , New Jersey, State
Washington, DC CNN —Last week’s economic data increasingly gave investors hope that the Federal Reserve could hold interest rates steady this month, following a hike in July that brought rates to their highest level in 22 years. It’s hard to say definitively if or when the central bank will hike interest rates again this year. The Fed could hold rates steady for the rest of the year if both the job market and the broader economy continue to slow, helping bring down inflation. Higher for longer means keeping interest rates elevated for a prolonged period. China’s National Bureau of Statistics releases August inflation data.
Persons: hasn’t, ” Leslie Thompson, Thompson, Jerome Powell, Powell, Susan Collins, Powell’s Jackson, there’s, Raphael Bostic, Olesya Dmitracova, ” Patrick Hummel, David Lesne, Juan Perez, Carrascosa, Barnes & Noble Organizations: CNN Business, Bell, DC CNN, Federal, Financial, Spectrum Wealth Management, CNN, Fed, Kansas City, Boston, Yahoo, Finance, Atlanta Fed, Volkswagen, Renault, UBS, French, Swiss, Barnes &, The Reserve Bank of Australia, US Commerce Department, Eagle, Express, P Global, Institute for Supply Management, Bank of Canada, US Labor Department, Kroger, China’s National Bureau of Statistics Locations: Washington, Jackson Hole , Wyoming, Cape Town , South Africa, Europe
US search spend on retail media properties is expected to grow 18.7% this year, while search spend outside retail media is expected to grow just 5%, per Insider Intelligence. Despite offering Shopping Ads and analytics and order management tools, industry analysts usually don't consider Google as a retail media operator. AdvertisementAdvertisementHowever, not all retail media spend is coming at the expense of Google and traditional advertising channels. Forrester's second-quarter marketing CMO pulse survey found that the majority of retail media spend is coming from existing trade and shopper marketing budgets. Retailers are cannibalizing those budgets to fuel growth of their retail media networks, said Nikhil Lai, senior analyst at Forrester.
Persons: , Alex Brownsell, Bill Fisher, Nikhil Lai, Forrester's Lai Organizations: Google, Walmart, Service, Retail, Intelligence, Kroger, Forrester, Apple, Instacart Locations: Amazon, Wall, Silicon, Instacart
All three major U.S. stock indices rebounded this past week following a lackluster August, delivering their best one-week performances since July. Here's a quick update on the past week: The August ADP employment report numbers came in lower than expected. Earnings : No Club companies report next week. Over 99% of S & P 500 companies have now reported earnings results for the second-quarter season, according to FactSet. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Nonfarm payrolls, Dow Jones, Buster's, Jim Cramer's, Jim Cramer, Jim, Michael M Organizations: Dow Jones, Nasdaq, Federal Reserve, Labor, U.S . Labor Department, ISM Manufacturing, Broadcom, VMware, PMI, Photonics, Akoustis Tech, GameStop, Eagle Outfitters, SAIC, Brands, ABM Industries, Kroger, KR, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: U.S, Asana, ASAN, New York City
Stocks are looking to maintain momentum in the holiday-shortened week ahead even as Wall Street contends with a seasonally weak period for markets ahead of the Federal Reserve's September rate decision. Some technical indicators have investors hopeful the bullish momentum could continue in the week ahead. For example, the major indexes broke above their respective 50-day moving averages this past week — a sign of improving short-term momentum. Central bank policymakers convene for a two-day meeting starting Sept. 19 and announce their interest rate decision Sept. 20. Week ahead calendar All times are ET.
Persons: Sam Stovall, We've, Ryan Detrick, Quincy Krosby, CFRA, , HSBC's Max Kettner, Savita Subramanian, John Luke Tyner, Carson Group's Detrick, Detrick, FactSet, Kroger Organizations: Dow Jones Industrial, Nasdaq, Wall, Dow, Carson Group, Fed, LPL, Bank of America, Aptus Capital Advisors, Labor, PMI, PMI Services, Consumer Credit Locations: U.S, CFRA, China
A 57-year-old UPS driver died after collapsing while making deliveries in the Texas heat last week. UPS drivers' heat-related injuries and deaths in recent years have highlighted the dangers of the job. In their newly ratified contract, UPS workers won AC installation in new vehicles starting next year. AdvertisementAdvertisementA 57-year-old UPS driver in Texas has died after collapsing while making deliveries in the heat last week. Following months of negotiations with Teamsters, UPS announced in June that it would install air conditioning in new trucks starting next year.
Persons: Christopher Begley, Begley, Dave Reeves, Tony Rufus, Esteban Chavez Jr, Chris Begley Organizations: Weather, UPS, WFAA, Teamsters, CBS News, Teamster, FedEx Locations: Texas, Farmersville , Texas, Farmersville, CBS News Texas, North Central Texas, Memphis, Pasadena , California, Scottsdale , Arizona
Self checkout could be making Americans lonelier
  + stars: | 2023-08-29 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +3 min
Self checkout might be making Americans lonelier. Most customers prefer self checkout. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyAdvertisementAdvertisementAmericans are lonelier than ever, and self checkout could be part of the problem. The option was especially popular with Gen Z respondents, 84% of whom said they prefer self-checkout. Self checkout is just one of many potential drivers of loneliness in the US.
Persons: it's, PlayUSA, Gen, Darryl Jones, he's, Jones Organizations: Service, Los Angeles Times, US, Kroger, Amazon, Albertsons, Times Locations: Wall, Silicon, PlayUSA, Tennessee, Southern California
[1/2] The 79th Venice Film Festival - Awards Ceremony - Venice, Italy, September 10, 2022 - Director Laura Poitras poses with the Golden Lion Award for Best Film. REUTERS/Guglielmo Mangiapane/File Photo Acquire Licensing RightsAug 28 (Reuters) - The Venice International Film Festival is the oldest film festival in the world, with its 80th edition opening this week. WHEN IS THE VENICE FESTIVAL? The festival opens on Aug. 30 with the premiere of Italian World War Two film "Comandante", directed by Edoardo De Angelis. There are several categories making up the official selection of films shown, the top being those competing for the coveted Golden Lion award.
Persons: Laura Poitras, Guglielmo Mangiapane, Edoardo De Angelis, El Conde, Pablo Larrain, Luc Besson, Ferrari, Michael Mann, Nikolaj, Saverio Costanzo, Maestro, Bradley Cooper, Stefano, Allem, Timm Kroger, David Fincher, Bertrand Bonello, Priscilla, Sofia Coppola, Agnieszka Holland, Pietro Castellitto, Ava DuVernay, Matteo Garrone, Giorgio Diritti, Holly, Szumowska, Michal Englert, Michel Franco, Stephane Brize, William Friedkin, Woody Allen's, Roman Polanski, Henry Sugar, Wes Anderson, Harmony Korine, Travis Scott, Crispian Balmer, Mark Heinrich Our Organizations: Golden, Film, REUTERS, Society, Hollywood, Thomson Locations: Venice, Italy, VENICE, Spanish, Chile, Denmark, Austria, Switz, Canada, France
Instacart’s mixed bag has valuation opportunities
  + stars: | 2023-08-28 | by ( Anita Ramaswamy | ) www.reuters.com   time to read: +4 min
If it doesn’t push valuation too hard, a public listing could be seamless. Instacart booked net income in 2022, a rarity for a growth company hitting the public market. That brings Instacart’s enterprise value to roughly $17 billion, less than half of what it was worth in 2021 but still higher than the internal valuation it inked last year. Follow @AnitaRamaswamy on XCONTEXT NEWSGrocery-delivery business Instacart filed paperwork to go public on Aug. 25 under the formal name Maplebear. The company, which did not share its target price range in the filing, grew revenue by 39% in 2022 to $2.6 billion.
Persons: Eric Cohn, Cheney Orr, Fidji Simo, Instacart, Simo, Apoorva Mehta, Domino's, Lauren Silva Laughlin, Sharon Lam Organizations: Safeway, REUTERS, Reuters, Nasdaq, Kroger, Aldi, Costco Wholesale, Companies, Thomson Locations: Tucson , Arizona, U.S, Cava
New York CNN —A brand of frozen mixed vegetables and sweet corn sold at Kroger and Food Lion is being recalled because of potential bacterial contamination. The Food and Drug Administration announced this week that Twin City Foods, which packages the affected food, is “voluntarily recalling a limited quantity” of the frozen vegetables because there’s a “potential for these products to be contaminated with Listeria monocytogenes.”Affected food includes various sizes of Kroger and Food Lion branded super sweet corn, Kroger and Food Lion branded mixed vegetables carrots, super sweet corn, green beans and green peas. Listeria is a hardy germ that can continue to grow while refrigerated and can cause “serious and sometimes fatal infections” in the elderly, young people and those with weakened immune systems. However, the FDA said that “there have been no actual consumer reports of human illness or other complaints associated with this product.” A customer’s third-party lab results from the sweet cut corn sparked the recall. People that have bought an affected frozen vegetables product are being told not to eat it and to “immediately return the product to the store where they purchased it for a full refund.”
Persons: Organizations: New, New York CNN, Kroger, Food, Drug Administration, Twin City Foods, Food Lion, FDA Locations: New York
US antitrust regulator names Henry Liu to head competition unit
  + stars: | 2023-08-22 | by ( ) www.reuters.com   time to read: +2 min
Federal Trade Commission seal is seen at a news conference in Washington, U.S., July 24, 2019. REUTERS/Yuri Gripas/File Photo Acquire Licensing RightsAug 22 (Reuters) - The U.S. Federal Trade Commission (FTC) said on Tuesday that Henry Liu, a partner at law firm Covington Burling, would be the new director of the commission's Bureau of Competition. "I'm excited to have Henry at the helm of the Bureau of Competition," Chair Lina Khan said in a statement. At Covington & Burling, where he worked for 14 years, Liu rose to be a partner in litigation and antitrust practices, according to the statement. Liu went to Yale Law School, graduating in 2007, according to his LinkedIn page.
Persons: Yuri Gripas, Henry Liu, Covington, Liu, Henry, Lina Khan, R, Guy Cole Jr, Bill Clinton, Diane Bartz, Ismail Shakil, Rami Ayyub, Cynthia Osterman Organizations: Federal Trade Commission, REUTERS, U.S . Federal Trade Commission, Competition, Meta's Facebook, Amazon.com, FTC, Big Tech, Justice Department, Albertsons, Covington &, Yale Law School, U.S ., Appeals, Sixth Circuit, Thomson Locations: Washington , U.S, commission's, Covington, Covington & Burling, Washington, Ottawa
Customers who link their bank accounts to Instacart are at particular risk, per a cybersecurity expert. "Just like you can get a bad Uber driver, you can get a bad Instacart shopper," Hatter said. Instacart told Insider that it runs background checks on its shoppers. Instacart shoppers have had to contend with declining earnings lately. Are you an Instacart shopper or customer with a story to share?
Persons: Dave Hatter, Hatter, Instacart, Kroger, KDFW Organizations: Shoppers, Service, Paypal, Kroger, KDFW Locations: Wall, Silicon, Cincinnati, Northern Kentucky, Instacart, Texas, Ohio
George Frey | ReutersDrugmakers aren't the only ones feeling the impact of the weight loss industry gold rush. Retailers with pharmacy businesses, such as Walmart , Kroger and Rite Aid , said increased demand for prescription weight loss drugs helped boost sales for the second quarter. Are weight loss drugs profitable? A selection of injector pens for the Saxenda weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. For one, branded drugs don't directly compete with other medications because they have patent protections.
Persons: George Frey, Reuters Drugmakers, Arun Sundaram, it's, Elon Musk, Eli Lilly, Doug McMillon, Matthew Schroeder, Schroeder, Rodney McMullen, CFRA Research's Sundaram, Michael Lasser, Jim Vondruska, USC's Schaeffer Organizations: KR NOVO.B, Novo Nordisk, Pharmacy, Reuters, Walmart, Kroger, Rite, CFRA Research, CNBC, Nordisk, Elon, Pfizer, UBS, USC's, USC's Schaeffer Center for Health, Association Locations: Provo , Utah, U.S, GLP, Chicago , Illinois
Jaewon Kang — Reporter at The Wall Street Journal
  + stars: | 2023-08-19 | by ( Jaewon Kang | ) www.wsj.com   time to read: 1 min
Jaewon KangJaewon Kang covers food retail from The Wall Street Journal's corporate bureau in Chicago. She writes frequently about changes across the U.S. food industry and consumer behavior. Jaewon previously covered private equity for the Journal in New York. Before joining the Journal, she was a reporter at the Deal where she wrote about the telecommunications industry. She studied journalism and comparative literature at New York University.
Persons: Jaewon Kang Jaewon Kang Organizations: The, Kroger, Albertsons, Journal, New York University Locations: Chicago, U.S, New York
Kroger has quietly become the biggest sushi seller in the US, The Wall Street Journal reported. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Sushi sales at US retailers were up 72% in the past year, according to a report by The Wall Street Journal. It began selling sushi in the early 1990s, but realized it had become the country's biggest sushi retailer in 2020 when reviewing data from the research firm Circana Group, the Journal noted. "The California Crunch roll is our most popular cooked sushi roll, and the Rainbow Roll is the most popular raw sushi roll," the spokesperson told Insider by email.
Persons: Kroger, sushi's, Stuart Aitken, it's Organizations: Street Journal, Service, Wall Street, Circana Group, Kroger Locations: Wall, Silicon, West Coast, California, Ohio, , New York
Boston Market, founded in 1985, sparked the rotisserie chicken craze in the late 1980s and 1990s. Between 2017 and 2022, the Golden, Colorado-based chain closed 161 stores, according to market research firm TechnomicAbout 50 more stores have closed this year. "Boston Market repeatedly has breached its payment obligations to US Foods," the suit states. Boston Market began serving its homestyle meals of spit-roasted rotisserie chickens, made-from-scratch cornbread, and creamy mac and cheese in 1985. Boston Market also faced competition from grocery stores like Costco and Kroger, which began selling rotisserie chickens in 1994.
Persons: Brenda Rivera, Rivera, Seth Wenig, Joseph Petrecca, McDonald's, Jay, Pandya, Tim Powell, That's, It's, it's Organizations: Boston, McDonald's, Service, New Jersey's Labor Department, The, Boston Market, Engage Brands, Restaurant Business, US Foods, Costco, Kroger, Sun Capital Partners, Sun Capital, Restaurant, Group, Companies Locations: New Jersey, Wall, Silicon, California, Boston, , Colorado, Jersey, Massachusetts, Arizona, Orange County , California, Huntington Beach , California
No-frills discounter Aldi is the latest grocer to shake up the industry with big moves. It's also had to race to keep up with competitors' online options, prompting Aldi to expand curbside pickup to more stores. But the deal has big implications for publicly traded competitors including Walmart and Kroger, as well as regional grocers. CNBC spoke to Jason Hart, the CEO of Aldi U.S., about why the company is doing the deal and how it sees Aldi fitting into a fast-changing grocery landscape. Why was Aldi interested in acquiring Winn-Dixie and Harveys Supermarket?
Persons: Kroger, Joe's, It's, Jason Hart, we've Organizations: Winn, Dixie, Southern, Aldi, Albertsons, Companies, Amazon, Walmart, Kroger, CNBC Locations: Southern U.S, Florida , Alabama, Georgia, Louisiana, Mississippi, Germany, Winn
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Persons: Dow Jones Organizations: kroger
The impact of new weight loss treatments is being felt well beyond the health-care industry . During the second quarter, which beat expectations , shoppers were still focused on health and wellness, CEO Doug McMillon said Thursday. Some companies already bar weight loss medications from their insurance plans to keep costs down. Executives said it was tied to an increase in specialty drug use for weight loss and diabetes. Eli Lilly's Mounjaro hasn't yet been approved for weight loss, though some people are taking it off label for that reason.
Persons: Eli Lilly, Joe Scalzo, Scalzo, Atkins, Regeneron, George Yancopoulos, Doug McMillon, WMT, Kroger, Paul Sarvadi, Eli Lilly's Mounjaro, Stephan Tata, Tata hedged, Tata Organizations: Analysts, Novo Nordisk, Co, Simply, Atkins, Walmart, WMT KR, Kroger, Cardinal Health, Drug Administration, Tata Locations: U.S
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