80 jili
80 jili
Former Knights player to join NFL's pathways program in 2025A judge blocked Kroger Co.’s $24.6 billion acquisition of Albertsons Cos., finding the takeover would lessen competition for U.S. grocery shoppers, in a ruling that marks a likely death knell for the deal. In a decision filed in Oregon federal court Tuesday, U.S. District Judge Adrienne Nelson found in favor of the U.S. Federal Trade Commission. The agency had argued that the proposed tie-up violates U.S. antitrust law and that a divestiture of hundreds of stores to C&S Wholesale Grocers Inc. wouldn’t do enough to replace the lost competition. “There is ample evidence that the divestiture is not sufficient in scale to adequately compete with the merged firm and is structured in a way that will significantly disadvantage C&S as a competitor,” Nelson wrote. “The deficiencies in the divestiture scope and structure create a risk that some or all of the divested stores will lose sales or close, as has happened in past C&S acquisitions.” Nelson’s decision is a major victory for the FTC and its outgoing Chair Lina Khan, who came under harsh criticism from conservatives and business groups for stepped-up antitrust enforcement under the Biden administration. “Today’s win protects competition in the grocery market, which will prevent prices from rising even more,” said FTC spokesperson Douglas Farrar. “This statement win makes it clear that strong, reality-based antitrust enforcement delivers real results for consumers, workers, and small businesses.” A C&S Wholesale spokeswoman said the company is disappointed by the court’s decision and that it looks forward to seeing how Kroger and Albertsons will determine the next steps of the proposed deal. Kroger and Albertsons didn’t immediately respond to requests for comment. Attorneys for the companies have said the acquisition would probably be called off if the judge ruled against the deal. Kroger shares jumped as much as 6.1% in New York trading on Tuesday, extending earlier gains. Albertsons slumped as much as 10%. The FTC’s case was the most consequential of three pending lawsuits that challenged the tie-up. Washington Attorney General Bob Ferguson, who was elected earlier this month to be the state’s next governor, sued to block the deal in state court and a judge is expected to issue his decision later Tuesday. Colorado’s attorney general also filed a separate lawsuit in state court that remains pending. Specific market Nelson agreed with the FTC that supermarkets constitute a specific market, countering the companies’ argument that the market extends to online retailers like Amazon.com Inc. “Supermarkets are distinct from other grocery retailers,” Nelson wrote. “Supermarkets offer a larger selection of fresh and non-perishable items, a one-stop shopping experience that appeals to a particular consumer’s preference to meet all their grocery needs in one location, and a customer service focus with deli, bakery, meat, and other specialized departments.” The ruling marks a disappointing end to a two-year odyssey by Kroger and Albertsons, which sought to become a bigger player with a more substantial national footprint to better compete against larger, non-unionized rivals including Walmart Inc. Kroger and Albertsons agreed to combine in October 2022 in what would have been the biggest U.S. grocery deal in history, bringing together more than 4,000 stores across 48 states and Washington, DC. Kroger will likely turn its focus back to improving and investing in its existing network of about 2,750 stores. Albertsons, on the other hand, could emerge again as a deal target, but is expected in the near term to invest in its roughly 2,270 stores and technology. The proposed deal has been a political hot potato, drawing pushback from elected officials, union groups and consumer advocacy firms. The companies vowed to spend $1 billion to cut prices, $1.3 billion to improve store conditions and $1 billion to raise worker wages and benefits following the deal. The FTC has increased antitrust enforcement under the Biden administration, though the results in court have been mixed. The FTC lost a challenge to Microsoft Corp.’s acquisition of Activision Blizzard Inc. But more recently the antitrust agency won two other merger challenges against Illumina Inc. over its purchase of startup Grail and over Tapestry Inc.’s planned $8.5 billion acquisition of Capri Holdings Ltd. Arguments The companies and the agency fought their case in court for three weeks over the summer in Oregon, as grocery inflation came back into the political spotlight ahead of the U.S. presidential election. Grocery inflation hit a four-decade high in 2022 due to higher costs of labor, transportation and ingredients. Price increases have moderated and are expected to stay within historical ranges, though many American shoppers still say expensive groceries continue to squeeze their ability to spend. The FTC argued that the deal would harm consumers by eliminating competition on prices and quality, making the combined entity less likely to improve its services by offering flexible hours and pickup services. It said the grocers would have more leverage over workers, which would slow wage growth and worsen benefits, and that the proposed divestiture would be inadequate. The agency tried to depict Kroger and Albertsons as the most direct competitors. It said the deal would combine the two largest “traditional supermarkets” in a market that includes Walmart and Target, but does not include Amazon, Costco, Aldi and dollar stores. The companies argued that such a definition is “antiquated” and no longer describes how people shop and pointed to various changes they have made in response to newer threats. The grocers also said joining forces would help them increase market share and improve technology to compete with Amazon, Walmart and other companies. The case is Federal Trade Commission v. Kroger Co., 24-cv-00347, U.S. District Court, District of Oregon (Portland). (With assistance from Josh Sisco.) ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.Washington Nationals win lottery for No. 1 pick in next amateur baseball draft, Angels No. 2
US regulators seek to break up Google, forcing Chrome sale as part of monopoly punishment U.S. regulators want a federal judge to break up Google to prevent the company from continuing to squash competition through its dominant search engine after a court found it had maintained an abusive monopoly over the past decade. The proposed breakup floated in a 23-page document filed late Wednesday by the U.S. Justice Department calls for Google to sell its industry-leading Chrome web browser and impose restrictions designed to prevent Android from favoring its search engine. Regulators also want to ban Google from forging multibillion-dollar deals to lock in its dominant search engine as the default option on Apple’s iPhone and other devices. What you need to know about the proposed measures designed to curb Google's search monopoly U.S. regulators are proposing aggressive measures to restore competition to the online search market after a federal judge ruled that Google maintained an illegal monopoly. The sweeping set of recommendations filed late Wednesday could radically alter Google’s business. Regulators want Google to sell off its industry-leading Chrome web browser. They outlined a range of behavioral measures such as prohibiting Google from using search results to favor its own services such as YouTube, and forcing it to license search index data to its rivals. They're not going as far as to demand Google spin off Android, but are leaving that door open if the remedies don't work. SEC Chair Gary Gensler, who led US crackdown on cryptocurrencies, to step down Securities and Exchange Commission Chair Gary Gensler will step down from his post on January 20. Since taking the lead at the SEC, the commission has been aggressive in its oversight of cryptocurrencies and other regulatory issues. President-elect Donald Trump had promised during his campaign that he would remove Gensler, who has led the U.S. government’s crackdown on the crypto industry and repeatedly called for more oversight. But Gensler on Thursday announced that he would be stepping down from his post on the day that Trump is inaugurated. Bitcoin has jumped 40% since Trump’s victory. Elon Musk's budget crusade could cause a constitutional clash in Trump's second term WASHINGTON (AP) — Donald Trump has put Elon Musk and Vivek Ramaswamy in charge of finding ways to cut government spending and regulations. It's possible that their efforts will lead to a constitutional clash. This week, Musk and Ramaswamy said they would encourage the Republican president-elect to refuse to spend money allocated by Congress, which would conflict with a 1974 law that's intended to prevent presidents from blocking funds. If Trump takes such a step, it would quickly become one of the most closely watched legal battles of his second administration. Musk and Ramaswamy also aim to dramatically reduce the size of the federal workforce. Bitcoin is at the doorstep of $100,000 as post-election rally rolls on NEW YORK (AP) — Bitcoin is jumping again, rising above $98,000 for the first time Thursday. The cryptocurrency has been shattering records almost daily since the U.S. presidential election, and has rocketed more than 40% higher in just two weeks. It's now at the doorstep of $100,000. Cryptocurrencies and related investments like crypto exchange-traded funds have rallied because the incoming Trump administration is expected to be more “crypto-friendly.” Still, as with everything in the volatile cryptoverse, the future is hard to predict. And while some are bullish, other experts continue to warn of investment risks. Stock market today: Wall Street climbs as bitcoin bursts above $99,000 NEW YORK (AP) — U.S. stocks are climbing after market superstar Nvidia and another round of companies said they’re making even fatter profits than expected. The S&P 500 was pulling 0.7% higher Thursday after flipping between modest gains and losses several times in the morning. The Dow Jones Industrial Average jumped 532 points, or 1.2%, and the Nasdaq composite gained 0.2%. Banks, smaller companies and other areas of the stock market that tend do best when the economy is strong helped lead the way, while bitcoin briefly broke above $99,000. Crude oil, meanwhile, continued to rise. Treasury yields edged higher in the bond market. The biggest remaining unsanctioned Russian bank hit with U.S. sanctions, nearly three years into war WASHINGTON (AP) — Russia’s third largest bank, Gazprombank and its six foreign subsidiaries were hit with U.S. sanctions on Thursday. The action is intended to curtail Russia’s ability to evade the thousands of sanctions imposed on the nation since the start of Russia’s invasion of Ukraine in February 2022. Treasury Secretary Janet Yellen said the sanctions targeting Russia’s largest remaining non-sanctioned bank would further diminish Russia’s military effort and “will make it harder for the Kremlin to evade U.S. sanctions and fund and equip its military.” In addition, more than 50 internationally connected Russian banks 40 Russian securities registrars, and 15 Russian finance officials were hit with sanctions. Trump's incoming chief of staff is a former lobbyist. She'll face a raft of special interests WASHINGTON (AP) — As Donald Trump prepares to return to the White House, his election victory is likely to embolden those who think they can get his ear. There's the prospect that his second administration could face many of the same perils as his first, when there were influence-peddling scandals. That will test the ability of Susie Wiles, his incoming chief of staff, to manage a growing number of high-powered figures such as Trump’s children, son-in-law Jared Kushner and billionaires like Elon Musk. Wiles herself is a former lobbyist, but Trump's transition team rejected any suggestion that her past work would make her susceptible to pressure. House passes bill that would allow Treasury to target nonprofits it deems to support terrorism WASHINGTON (AP) — The U.S. House passed legislation that would give the Treasury Department unilateral authority to strip the tax-exempt status of nonprofits it claims support terrorism. It is a proposal that has alarmed civil liberties groups about how a second Trump presidency could use it to punish political opponents. The bill passed 219-184, with the majority of the support coming from Republicans who accused Democrats of reversing course in their support for the “common sense” proposal only after Donald Trump was elected to a second term earlier this month. It now goes to the Democratic-controlled Senate where its fate is uncertain. Boar's Head listeria outbreak is over with 10 dead and dozens sickened by tainted deli meat U.S. health officials say a deadly outbreak of listeria food poisoning tied to a massive recall of popular Boar's Head deli meats is over. Ten people died and 61 were sickened in 19 states in the outbreak. Illnesses were reported between late May and mid-September. The outbreak is considered over 60 days after the last reported illness. Boar's Head officials recalled more than 7 million pounds of deli meat distributed nationwide, shuttered a Virginia plant that made the products and permanently stopped making liverwurst. The company continues to face lawsuits and federal scrutiny.I'm late to the RPG Baldur's Gate 3. I held out for over a year before purchasing it despite the fact that the game surpasses any released in the franchise so far with its excellent graphics, unprecedented freedom to explore, and ability to interact with the environment. What finally got me in then? Admittedly, it's the one thing I absolutely can't resist in a top-rated RPG — the fact that it now has mods! That change in a game as detailed and intuitive as BG3 is sheer gold for me, making every cent paid for it an irresistible value proposition. It has also got me thinking: Why can't all RPGs have mods? Mods undeniably spice up games It's not like BG3 needed anything extra to make it a great game. No, it's obviously one of the best turn-based RPG's available today with its enchanting high-fantasy open world that reacts to you as a player and allows you to have your own unique experience. It's more that the mods — everything from character changes to new weapons and objects and new game mechanics — allow me to squeeze even more value from this classic game thereby multiplying the fun 100x. Whereas before the game was well worth $60, the value I will reap from this game over time will pay for itself many, many times over. To be sure, now that BG3 has mods, the game will not only be different each time I play it, it won't even be close to the experience I've had before — which leads me to an important point: I now have the agency to personalize it as I wish, just as I can personalize myriad other aspects of my life, from the topping on my vanilla ice-cream to the color of my cellphone case. I can now play solo as a lone wolf by increasing the rate at which I earn XP, or as any exciting creature from the Dungeons and Dragons world by accessing dozens of other races. I can... Dominic Bayley
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BEAVER CREEK, Colo. (AP) — As the situation stands, snowboarder/ski racer Ester Ledecka has two Olympic races on the same day in 2026, at nearly the same time and in Italian mountain towns hours apart. The Czech Republic standout simply can’t make both starting gates. So she may have a big decision to make on Feb. 8, 2026 — race in the women's downhill at the Milan-Cortina Games or go for a three-peat in snowboarding’s parallel giant slalom. Unless, of course, her lobbying efforts pay off. Ledecka said she's going through her country's Olympic committee to reach out and see if one of the events can be switched. The Winter Games schedule was just recently released. “It’s like someone has broken your dream,” the 29-year-old Ledecka said after a training run in Beaver Creek as she prepares for a World Cup downhill and super-G this weekend. “So please change it. Please, please, please. It’s my biggest dream to do both. I can create a great show for people.” Ledecka is the rare athlete to do both winter sports at such a gold medal-winning level. Nearly seven years ago, Ledecka was a surprise winner in the super-G at the Pyeongchang Games — from bib No. 26, no less. A week later, she captured gold in the parallel GS (PGS). At the 2022 Beijing Winter Games, she defended her PGS crown along with finishing fifth in the super-G, 27th in the downhill and fourth in the Alpine combined. To amend an Olympic schedule would not be unprecedented. Before the 2016 Rio de Janeiro Games, the International Olympic Committee and the governing body for track and field accommodated a request from Allyson Felix to go for a 200-400 double. She earned a silver in the 400. In 1996, the schedule was shifted so American sprinter Michael Johnson could run in the 200 and 400 at the Atlanta Games. He won gold in both. “I would appreciate it,” said Ledecka, who started skiing at 2 years old and snowboarding three years later. “They’re fighting (for it) right now.” The current schedule has snowboarding parallel giant slalom holding a qualifying round from 9 a.m. to 11 on Feb. 8 in Livigno, Italy. The final is set for 1 p.m. Meanwhile, the women's downhill is set to take place in Cortina at 11:30 a.m. It's about a 4-hour drive between the two events. For now, she's leaning toward snowboarding. Only because a few days later she could ski race in a super-G. “I was quite sad about that fact,” Ledecka said of the conflict between events. "We'll see. It’s still quite far away.” Ledecka has 88 World Cup starts in skiing, with 10 podium finishes and four wins. She has 63 World Cup starts in snowboarding, featuring 39 podium finishes and 25 wins. “I don’t know how she does it,” said American ski racer Jacqueline Wiles, who dabbled in snowboarding as a kid. “It’s absolutely insane.” Ledecka enjoys both sports for different reasons. In skiing, it's for the speed. For snowboarding, it's the execution of a turn. It's not always easy splitting her time between the two sports, fitting in training around events. She won a PGS race on Nov. 30 in China before arriving in Beaver Creek. After this, it's off to St. Moritz, Switzerland, for more ski racing. She's currently traveling with eight snowboards and 20 pairs of skis. “You cannot believe how stacked the ski room is right now,” Ledecka cracked. “I really admire my tech guy and how he's handling it all. I’m very happy to have my team help me do this, my dream, of going from the snowboard World Cup to the ski World Cup. I'm having a lot of fun.” Notes: Lara Gut-Behrami of Switzerland had the fastest time in the second training run Thursday. Italians racers Sofia Goggia and Federica Brignone were both within a second. ... Lindsey Vonn is not expected to forerun before the third and final training session Friday. The 40-year-old Vonn still plans on testing out the course before this weekend's races on the Birds of Prey course. AP skiing: https://apnews.com/hub/alpine-skiingDonald Trump is returning to the world stage. So is his trolling
Stanford knocks off Cal in both teams' ACC openerDonald Trump is returning to the world stage. So is his trolling
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