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NEW YORK/SAN FRANCISCO, Dec 16 (Reuters) - PepsiCo plans to roll out 100 heavy-duty Tesla Semis in 2023, when it will start using the electric trucks to make deliveries to customers like Walmart and Kroger, the soda maker's top fleet official told Reuters on Friday. PepsiCo is the first company to experiment with the battery-powered Tesla Semis as a way of cutting its environmental impact. When Tesla starts building them, PepsiCo "will rotate those up" into its fleet, he said. PepsiCo declined to share details on the price of the trucks, a figure that Tesla has kept quiet. O'Connell said that a 425-mile (684-km) trip carrying Frito-Lay products brings the Semi's battery down to roughly 20%, and recharging it takes around 35 to 45 minutes.

PepsiCo, which ordered the Semis in 2017, is the first company to experiment with them as a way of cutting its environmental impact. PepsiCo is deploying 36 electric trucks from Tesla, with 15 in Modesto and 21 in Sacramento, so far. When Tesla starts building them, PepsiCo "will rotate those up" into its fleet, he said. PepsiCo declined to share details on the price of the trucks, a figure that Tesla has kept quiet. O'Connell said that a 425-mile (684-km) trip carrying Frito-Lay products brings the Semi's battery down to roughly 20%, and recharging it takes around 35 to 45 minutes.

☆ Washington state court blocks Albertsons special dividend
▼ + stars: | 2022-12-16 | by ( Mike Scarcella | ) www.reuters.com time to read: 1 min

Dec 16 (Reuters) - Washington's state supreme court on Friday blocked Albertsons Companies Inc (ACI.N) from paying a special dividend ahead of its acquisition by Kroger Co (K.N), a court order showed. The court extended a block put in place by a lower court, and said the block would remain in place until a further order of the court. Reporting By Mike Scarcella in Washington, DC; writing by Peter Henderson; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Small Banks Warn They Might Have to Drop Zelle Over Scam Payment Costs
▼ + stars: | 2022-12-12 | by ( Imani Moise | ) www.wsj.com time to read: 1 min

The company that runs Zelle said fraud and scam payments represent less than 0.1% of payments across the network. Community banks and credit unions might drop out of partnerships with instant-payment apps like Zelle if required to reimburse customers who fall victim to scams, two industry trade groups said. Facing pressure from lawmakers and regulators to do more to protect customers from fraud, the seven large banks that own Zelle are working on a plan to standardize refunds for customers duped into sending money. Scams using instant-payment apps like Zelle, Venmo and CashApp are expected to cost Americans $3 billion by 2026, up from $1.6 billion in 2021, according to a recent report by ACI Worldwide, a payments-software company.

[1/2] The Albertsons logo is seen on an Albertsons grocery store, as Kroger agrees to buy rival Albertsons in a deal to combine the two supermarket chains, in Rancho Cucamonga, California, U.S., October 14, 2022. REUTERS/Aude GuerrucciDec 10 (Reuters) - U.S. grocery chain Albertsons Companies Inc (ACI.N) said that Washington State Court had denied a request of preliminary injunction by the state's Attorney General to prevent the company from paying $4 billion to shareholders in a special dividend. The court has extended the existing temporary restraining order until Dec. 19 to give the Attorney General an opportunity to appeal, the company said late on Friday. The Washington Attorney General has said that the dividend payout "risks severely undercutting the grocery giant's ability to compete" during the lengthy regulatory scrutiny. Albertsons has maintained that it was in a strong position financially and that the dividend would not hurt it.

☆ Albertsons says Washington AG is denied request for injunction to stop Co's dividend payment
▼ + stars: | 2022-12-10 | by ( Industry Insight | Insights In Action | Service Is Now Table Stakes As Clients Seek Higher Value Firms | ) www.reuters.com time to read: 1 min

[1/2] The Albertsons logo is seen on an Albertsons grocery store, as Kroger agrees to buy rival Albertsons in a deal to combine the two supermarket chains, in Rancho Cucamonga, California, U.S., October 14, 2022. REUTERS/Aude GuerrucciDec 9 (Reuters) - Albertsons Companies Inc (ACI.N) said late on Friday that Washington State Court has denied a request of preliminary injunction by the state's Attorney General to prevent the company from paying a dividend to its shareholders. The attorneys general of California, Illinois and Washington D.C. asked a federal court last week for a preliminary injunction that would prevent Albertsons, which is being purchased by rival Kroger Co (KR.N), from paying a $4 billion dividend to shareholders. Reporting by Akanksha Khushi in Bengaluru; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Jim Cramer's Investing Club meeting Friday: Inflation data, Salesforce, Microsoft trouble
▼ + stars: | 2022-12-09 | by ( Krystal Hur | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. "I think things have kind of bottomed, and the publicity and the long knives are overdone to me at this point," Jim Cramer said Friday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Kroger receives FTC request for additional information on Albertsons deal
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

Dec 6 (Reuters) - Kroger Co (KR.N) said on Tuesday it received a request for additional information from the U.S. Federal Trade Commission as part of the regulatory review process for its planned $25 billion merger with Albertsons Companies Inc (ACI.N). The deal, which was announced in mid-October, has drawn fire from lawmakers and consumer groups amid concerns the tie-up of the No. 1 and 2 standalone grocers in the United States could boost already-high food prices and stifle competition. The request from FTC extends the required waiting period until 30 days after the companies have "substantially complied" with the requests, Kroger said. The company added it still expects to complete the deal in early 2024.

☆ Activision acquisition would be good for Microsoft and the overall stock market
▼ + stars: | 2022-12-02 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

That implies that the other 35% of the market is made up of firms with equal to or less than about a 2% market share. For simplicity's sake, let's say an additional 17 firms have a 2% market share each to bring us to 100% of the market. That means the HHI, calculated by the market share number squared and then added together for all 27 companies, would be under 650. If the Microsoft-Activision Blizzard deal goes through, and you combine the market share concentration of the two companies, the HII would be just over 700. The other issue is how one measures the gaming market.

Here's everything you need to know about paying your taxes with a credit card and the best cards to use. How to pay taxes with a credit cardYou'll have to pay your taxes through a third-party payment processor if you want to use a credit card, and they all charge credit card processing fees. If you want to pay state taxes or local taxes (like property taxes) with a credit card, you can try seeing if your tax agency accepts credit cards and charges reasonable fees. You should only pay your taxes with a credit card if you can afford to pay off your credit card bill immediately. Pay taxes with a credit card frequently asked questions (FAQ)Is there a cash advance fee if I pay taxes with a credit card?

WASHINGTON, Nov 29 (Reuters) - Skeptical lawmakers from across the political spectrum questioned executives at grocers Kroger Co (KR.N) and Albertsons Companies Inc (ACI.N) on Tuesday about their planned $25 billion merger amid concerns the tie-up could boost already-high food prices. The deal will be reviewed by the Federal Trade Commission to ensure it is legal under antitrust law. Stores under the Albertsons umbrella include Balducci's, Haggen, Kings, Safeway, Star Market, Tom Thumb, United Supermarkets and Vons, among others. The companies have also been criticized for a plan to give Albertsons' shareholders a $4 billion dividend payment. Senator Tom Cotton, a conservative Republican, criticized Kroger for the company's aprons with a design that appeared to support gay pride.

WASHINGTON, Nov 29 (Reuters) - Top executives at Kroger Co (KR.N) and Albertsons Companies Inc (ACI.N) on Tuesday defended their planned $25 billion merger before skeptical lawmakers who fear the deal would push up food prices at a time of high inflation. "A combined Kroger and Albertsons will remain at number four as we will continue to compete with these companies to sell groceries. Those same three competitors have nearly three times the share of grocery sales of Kroger and Albertsons combined," he said, according to written remarks. In that case, the companies were forced to sell 168 stores to ensure that competition would remain fierce and prices would not rise. The companies have also been criticized for a plan to give Albertsons' shareholders a $4 billion dividend payment.

☆ Albertsons, Kroger CEOs to defend $25 bln merger to skeptical U.S. senators
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 29 (Reuters) - Top executives at Kroger Co (KR.N) and Albertsons Companies Inc (ACI.N) are expected to face tough questions on Tuesday from lawmakers who worry the grocers' planned $25 billion merger will push up food prices at a time when inflation is a concern. Kroger Chief Executive Rodney McMullen and Albertsons' chief, Vivek Sankaran, will go before the Senate Judiciary Committee's antitrust panel, some of whose members have already criticized the deal. Senators Amy Klobuchar, chair of the Senate antitrust panel, and Richard Blumenthal were among those who signed a letter to Federal Trade Commission Chair Lina Khan, saying the merger "raises considerable antitrust concerns." Ideally, they would like to find buyers for the facilities but could also put them into a new company that would be owned by Albertsons' shareholders. The companies may also draw fire on Tuesday for a widely criticized plan to give Albertsons' shareholders a $4 billion dividend payment.

The hearing was called by Klobuchar along with Senator Mike Lee, the top Republican on an antitrust panel of the Senate Judiciary Committee. "The hearing will examine the impact of the proposed merger of Kroger and Albertsons, the two largest grocery chains in the country," the statement said. The FTC is expected to aggressively review the deal to ensure it complies with antitrust law. While the two are the largest standalone grocers, Walmart is the market leader. Reporting by Diane Bartz; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

☆ Labor union Teamsters ratifies contract at Kroger
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: 1 min

Nov 21 (Reuters) - Labor union International Brotherhood of Teamsters said on Monday a new national contract at U.S. grocery chain Kroger Co (KR.N) has been ratified with overwhelming support. The five-year master agreement covers over 1,500 Kroger workers nationwide and provides significant improvements to wages, benefits and working conditions, the organization said in a statement. This comes as Kroger looks to complete its $25 billion deal for smaller rival Albertsons Cos Inc (ACI.N). Teamsters at Kroger voted by an 88% to ratify the contract, the union said, adding for the first time the national negotiating committee included rank-and-file members working in the industry. Reporting by Granth Vanaik in Bengaluru; Editing by Krishna Chandra Eluri and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

☆ Albertsons $4 bln dividend kept on hold by Washington court
▼ + stars: | 2022-11-11 | by ( Mike Scarcella | ) www.reuters.com time to read: +2 min

[1/2] A customer leaves an Albertsons grocery store, as Kroger agrees to buy rival Albertsons in a deal to combine the two supermarket chains, in Riverside, California, U.S., October 14, 2022. Lawyers for Albertsons and Washington state, which sued over the dividend, agreed at a hearing on Thursday to allow the temporary hold to run at least until Schubert's hearing. Schubert said in court that he believes the state faces an "uphill" legal fight to block the dividend. He said he was not aware of a case in which a court granted an injunction in a similar dispute. A lawyer for Washington state, Eric Newman, said on Thursday that the court was moving too quickly.

Nov 8 (Reuters) - A U.S. federal court on Tuesday denied requests to temporarily block Albertsons Companies Inc's (ACI.N) $4 billion dividend payment to shareholders before closing of the proposed merger with Kroger Co , but the payout remained blocked due to another court order. The federal court in Washington D.C. denied issuing a restraining order in the case, which was filed by the attorneys general of California, Illinois and Washington D.C and sought to block the payout until antitrust reviews of the proposed merger were completed. The lawsuit filed by attorneys general of Washington D.C., California and Illinois argued the same. Kroger snapped up Albertsons in a $25 billion deal in last month's mega merger between the No. "People living in poverty will suffer most of all—not only because of skyrocketing prices as competition vanishes, but through probable store closures," the groups said, adding the "unusual" $4 billion dividend to shareholders should be investigated.

☆ What Cramer is watching Wednesday — Disney CEO must go, no Red wave, Meta job cuts
▼ + stars: | 2022-11-09 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

We looked how Club stocks did a year after the past five midterms. Affirm (AFRM): Many price target cuts and the stock down 12% in the premarket. Morgan Stanley cuts price target to $11.50 per share from $15; keeps underperform (sell) rating. BofA cuts price target to $61 per share from $73. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Evercore ISI upgrades Kroger, sees shares jumping 18% as inflation boosts grocery shopping
▼ + stars: | 2022-11-09 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

Now is the time to buy into shares of Kroger, according to Evercore ISI. The firm on Wednesday upgraded the grocery chain to outperform from in-line and raised its price target to $56 from $49. He also sees further potential for upside when the merger between Kroger and Albertsons is completed, adding fuel to his bull case for the stock. Albertsons merger boost The planned merger with Albertsons could add a nice kicker to Kroger shares at the end of the year. If the merger doesn't go as smoothly as hoped or price cuts hurt Kroger's sales, the upside that Evercore sees could fizzle.

Nov 3 (Reuters) - A state court in Washington has temporarily blocked Albertsons Companies Inc (ACI.N) from paying a $4 billion dividend to shareholders before the grocery chain closes its proposed deal with rival Kroger Co (KR.N), documents filed said on Thursday. Kroger Co (KR.N) snapped up Albertsons in a $25 billion deal in last month's mega merger between the No. "By eliminating its cash-on-hand and nearly doubling its debt, Albertsons will be in a weakened competitive position relative to Kroger, thereby harming grocery consumers and workers throughout Washington," State Court Commissioner Henry Judson wrote in issuing the temporary restraining order. Washington State Attorney General Bob Ferguson called the temporary order a "huge victory". In its statement, Albertsons said on Thursday the court order was based on the "incorrect assertion" that the dividend payout would weaken its competitiveness while antitrust agencies review the proposed merger.

Nov 3 (Reuters) - Washington's King County court has granted a nationwide temporary restraining order, blocking grocery chain Albertsons Companies Inc's (ACI.N) $4 billion dividend payment, State Attorney General Bob Ferguson tweeted on Thursday. loading"We'll be back in court Nov. 10 seeking an injunction to keep the dividend on hold while our lawsuit continues," Ferguson said in a tweet. Supermarket operator Kroger Co (KR.N) snapped up Albertsons in a $25 billion deal last month, to better compete against U.S. grocery industry leader Walmart Inc on prices. Ferguson filed a lawsuit on Tuesday to block Albertsons from paying dividends to shareholders before closure of its proposed merger with Kroger. The attorneys general of Washington D.C., California and Illinois also filed a lawsuit on Wednesday in a federal court seeking to block the dividend payment alleging that the proposed dividend was in violation of federal and state antitrust laws by rendering Albertsons less able to compete effectively with other supermarkets.

☆ Kroger, Albertsons unions, antitrust experts urge FTC to block merger -letter
▼ + stars: | 2022-11-03 | by ( Siddharth Cavale | ) www.reuters.com time to read: +2 min

"The merger should be blocked, as it would harm workers, consumers and communities," said the United Food & Commercial Workers (UFCW) Local 400, who authored the letter. Twenty-six organizations undersigned the message, including the American Economic Liberties Project, Center for Economic and Policy Research, along with seven UFCW local chapters representing more than 100,000 Kroger and Albertsons' workers. The letter, first seen by Reuters, also urged the FTC to immediately investigate Albertsons' "unusual" $4 billion dividend to shareholders on Nov. 7, which it said would leave the company "largely depleted of liquid assets" and "unsustainable as an ongoing concern." read more"The allegation that this dividend will somehow hinder our ability to compete in the marketplace is meritless," an Albertsons spokesperson said in an emailed response to the letter. Reporting by Siddharth Cavale in New York; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

☆ Washington state sues to block Albertsons' $4 bln payout to shareholders
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

Nov 1 (Reuters) - Washington State Attorney General Bob Ferguson filed a lawsuit on Tuesday to block grocery chain Albertsons Cos Inc (ACI.N) from paying dividends to shareholders before closure of its proposed merger with supermarket operator Kroger Co (KR.N). The $4 billion payout to shareholders "risks severely undercutting the grocery giant's ability to compete during the lengthy time period government regulators — including Washington — will be scrutinizing the merger," according to a statement posted to the Washington Attorney General's website. "Paying out $4 billion before regulators can do their job and review the proposed merger will weaken Albertsons' ability to continue business operations and compete," Ferguson said. Kroger and Albertsons did not immediately respond to a request for comment on the AG's lawsuit. Late in October, District of Columbia Attorney General Karl Racine said that half-a-dozen state attorneys general are digging into Kroger planned acquisition of Albertsons.

☆ EXCLUSIVE Three attorneys general to file lawsuit blocking Albertsons $4 billion payout- source
▼ + stars: | 2022-11-02 | by ( Siddharth Cavale | Makiko Yamazaki | ) www.reuters.com time to read: 1 min

NEW YORK, Nov 2 (Reuters) - The attorneys general of Washington D.C., California and Illinois will file a lawsuit in a federal court seeking to block grocer Albertsons (ACI.N) $4 billion dividend payout to shareholders on Wednesday, a source familiar with the matter said. Reporting by Siddharth Cavale in New YorkOur Standards: The Thomson Reuters Trust Principles.

☆ What Cramer is watching Monday — October's stock pop, tech reign over, China's zero Covid
▼ + stars: | 2022-10-31 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Club holding Wynn Resorts (WYNN) jumps 5% in the premarket after a 4.5% pop Friday. UBS downgrades Caterpillar (CAT) to neutral (hold) from buy; cuts price target by $5-per-share to $230, which is silly. Outback Steakhouse owner Bloomin' Brands (BLMN): two price target boosts, Citi and Barclays. Barclays: LyondellBasell (LYB) downgraded to equal weight from overweight (hold from buy), cut price target to $82 per share from $95. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

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