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Joe Biden notches 1 more first-term federal judicial confirmation than Donald TrumpNone
Reiterates Commitment to Investing in America to Lower Grocery Prices, Raise Associate Wages, and Support Local Communities Highlights Resilience of Value Creation Model and Strong Momentum to Drive Long-term, Sustainable Growth Board of Directors Authorizes $7.5B Share Repurchase Program including $5B Accelerated Share Repurchase CINCINNATI , Dec. 11, 2024 /PRNewswire/ -- The Kroger Co. (NYSE: KR) today terminated its merger agreement with Albertsons after the U.S. District Court for the District of Oregon granted the Federal Trade Commission's request for a preliminary injunction to block the proposed merger. After reviewing options, the company determined it is no longer in its best interests to pursue the merger. "Kroger is moving forward from a position of strength. Our go-to-market strategy provides exceptional value and unique omnichannel experiences to our customers which powers our value creation model. We look forward to accelerating our flywheel to grow our alternative profit businesses and generate increased cash flows. The strength of our balance sheet and sustainability of our model allows us to pursue a variety of growth opportunities, including further investment in our store network through new stores and remodels, which will be an important part of our 8 – 11% TSR model over time," said Rodney McMullen , Kroger's Chairman and CEO. America's Grocer is Committed to Lowering Grocery Prices & Investing in Associates "Kroger has an extraordinary track record of investing in America," said McMullen. "We are at our best when we serve others – our customers, associates, and communities – and we take seriously our responsibility to provide great value by consistently lowering prices and offering more choices. When we do this, more customers shop with us and buy more groceries, which allows us to reinvest in even lower prices, a better shopping experience and higher wages. We know this model works because we've been doing it successfully for many years, and this is exactly what we will continue to do." Kroger's ongoing investments in America include: "I appreciate our associates who remained focused on taking care of our customers, communities and each other throughout the merger process," added McMullen. Share Repurchase Program Including Accelerated Share Repurchases Now that Kroger has terminated the merger agreement, the company is ready to deploy its capacity. With its strengthened balance sheet, Kroger will resume share repurchases after a more than two-year pause. Since announcing the merger, Kroger used its strong free cash flow and debt financing to build meaningful balance sheet capacity while maintaining its investment-grade rating. Kroger's Board of Directors approved a new share repurchase program authorizing the repurchase of up to $7.5 billion of common stock. The new repurchase authorization replaces Kroger's existing $1 billion authorization which was approved in September 2022 . Kroger intends to enter an accelerated share repurchase ("ASR") agreement for the repurchase of approximately $5 billion of common stock. "Our strong balance sheet and free cash flows position us to deliver on our commitment to grow the business and return capital to shareholders, maintaining capacity to invest in lower prices and higher associate wages," McMullen said. Kroger expects to continue to generate strong free cash flow and remains committed to its capital allocation priorities including maintaining its current investment grade debt rating, investing in the business to drive long-term sustainable net earnings growth, and returning excess free cash flow to shareholders via share repurchases and a growing dividend over time, subject to board approval. Looking forward, Kroger plans to host an Investor Day event in late spring of 2025 to share an update on its strategic priorities, future growth prospects and long-term financial outlook. Merger Debt Redemption In connection with the termination of the merger agreement, Kroger will begin the process of redeeming the $4.7 billion of its senior notes issued on August 27, 2024 , that include a special mandatory redemption provision in accordance with their terms. The notes will be redeemed at a redemption price equal to 101% of their principal amount, plus accrued and unpaid interest to, but excluding, the special mandatory redemption date. Termination of Exchange Offers In connection with the termination of the merger agreement, Kroger has also elected to terminate its previously announced offers to exchange (collectively, the "Exchange Offers") any and all outstanding notes (the "ACI Notes") issued by Albertsons Companies, Inc., New Albertsons, L.P., Safeway Inc., Albertson's LLC, Albertsons Safeway LLC and American Stores Company, LLC (collectively, the "ACI Issuing Entities"), for up to $7,441,608,000 aggregate principal amount of new notes to be issued by Kroger and cash. Kroger has also elected to terminate the related solicitation of consents (the "Consent Solicitation" and, together with the Exchange Offer, the "Exchange Offer and Consent Solicitation") on behalf of the ACI Issuing Entities to adopt certain proposed amendments to the indentures governing the ACI Notes (the "ACI Indentures"). As a result of the Exchange Offer being terminated, the total consideration, including any consent fee, will not be paid or become payable to holders of the ACI Notes who have validly tendered and not validly withdrawn their ACI Notes for exchange in the Exchange Offer, and the ACI Notes validly tendered and not validly withdrawn for exchange pursuant to the Exchange Offer will be promptly returned to the tendering holders. As a result of the Consent Solicitation being terminated, the proposed amendments to the ACI Indentures and the supplemental indentures previously entered into reflecting such proposed amendments will not become operative. About the Exchange Offers Global Bondholder Services Corporation served as exchange agent and information agent for the now terminated Exchange Offer and Consent Solicitation. You should direct questions and requests for assistance to Global Bondholder Services Corporation at (855) 654-2015 (toll-free) or (212) 430-3774 (banks and brokers), or by email at contact@gbsc-usa.com . About Kroger At The Kroger Co. (NYSE: KR), we are dedicated to our Purpose: to Feed the Human SpiritTM. We are, across our family of companies nearly 414,000 associates who serve over eleven million customers daily through a seamless digital shopping experience and retail food stores under a variety of banner names , serving America through food inspiration and uplift, and creating #ZeroHungerZeroWaste communities. To learn more about us, visit our newsroom and investor relations site. Forward Looking Statements This press release contains certain statements that constitute "forward-looking statements" about Kroger's financial position and the future performance of the company. These statements are based on management's assumptions and beliefs in light of the information currently available to it. Such statements are indicated by words or phrases such as "achieve," "committed," "confidence," "continue," "deliver," "expect," "future," "guidance," "model," "outlook," "strategy," "target," "trends," "well-positioned," and variations of such words and similar phrases. Various uncertainties and other factors could cause actual results to differ materially from those contained in the forward-looking statements. These include the specific risk factors identified in "Risk Factors" in our annual report on Form 10-K for our last fiscal year and any subsequent filings, as well as the following: Kroger's ability to achieve sales, earnings, incremental FIFO operating profit, and adjusted free cash flow goals may be affected by: the termination of the merger agreement and our proposed transaction with Albertsons and related divestiture plan; labor negotiations; potential work stoppages; changes in the unemployment rate; pressures in the labor market; changes in government-funded benefit programs; changes in the types and numbers of businesses that compete with Kroger; pricing and promotional activities of existing and new competitors, and the aggressiveness of that competition; Kroger's response to these actions; the state of the economy, including interest rates, the inflationary, disinflationary and/or deflationary trends and such trends in certain commodities, products and/or operating costs; the geopolitical environment including wars and conflicts; unstable political situations and social unrest; changes in tariffs; the effect that fuel costs have on consumer spending; volatility of fuel margins; manufacturing commodity costs; supply constraints; diesel fuel costs related to Kroger's logistics operations; trends in consumer spending; the extent to which Kroger's customers exercise caution in their purchasing in response to economic conditions; the uncertainty of economic growth or recession; stock repurchases; changes in the regulatory environment in which Kroger operates, along with changes in federal policy and at regulatory agencies; Kroger's ability to retain pharmacy sales from third party payors; consolidation in the healthcare industry, including pharmacy benefit managers; Kroger's ability to negotiate modifications to multi-employer pension plans; natural disasters or adverse weather conditions; the effect of public health crises or other significant catastrophic events; the potential costs and risks associated with potential cyber-attacks or data security breaches; the success of Kroger's future growth plans; the ability to execute our growth strategy and value creation model, including continued cost savings, growth of our alternative profit businesses, and our ability to better serve our customers and to generate customer loyalty and sustainable growth through our strategic pillars of fresh, our brands, personalization, and seamless; the successful integration of merged companies and new strategic collaborations; and the risks relating to or arising from our proposed nationwide opioid litigation settlement, including our ability to finalize and effectuate the settlement, the scope and coverage of the ultimate settlement and the expected financial or other impacts that could result from the settlement. Our ability to achieve these goals may also be affected by our ability to manage the factors identified above. Our ability to execute our financial strategy may be affected by our ability to generate cash flow. Kroger assumes no obligation to update the information contained herein unless required by applicable law. Please refer to Kroger's reports and filings with the Securities and Exchange Commission for a further discussion of these risks and uncertainties. View original content to download multimedia: https://www.prnewswire.com/news-releases/kroger-reiterates-its-commitment-to-lower-prices-and-initiates-new-7-5b-share-buyback-program-302329493.html SOURCE The Kroger Co.
Police divers are combing through underwater areas of New York's Central Park in the hunt for evidence about the killer of a healthcare boss. Detectives searching for the man believed to have targeted UnitedHealthcare CEO Brian Thompson have found a backpack and have multiple images of the suspect. But, so far, they have not found the weapon used when Mr Thompson arrived at the Hilton hotel for his company's annual investor conference at 6.44am on Wednesday. Two sources have told Sky News' US sister channel NBC News that the New York Police Department's scuba team has now joined the investigation. The sources said they are specifically trained to recover evidence while diving, using specific techniques and equipment. Since the waters are likely murky, the source said, the divers will make an underwater grid pattern to search for evidence. They are also knowledgeable on how to preserve evidence if found underwater. It is understood there is a pond in Central Park close to the escape route used by the killer after the shooting. Pictures in some US media show divers searching around the boating lake in the famous New York park. More from US Brian Thompson shooting: 'Monopoly money' found in New York health CEO gunman's backpack in Central Park Donald Trump says Prince William 'doing a fantastic job' as they meet for a second time in Paris How the meeting between the prince and the president-elect would have been arranged The investigators believe the killer used a 9mm pistol that resembled a gun that farmers use to put down animals without causing a loud noise. They also know ammunition found near Thompson's body had been inscribed with the words "delay," "deny" and "depose", mimicking a phrase used by insurance industry critics. Among the theories being worked on are that the gunman knew UnitedHealthcare group was holding a conference at the hotel and the route Thompson took to get there, so he could possibly be a disgruntled employee or client, NYPD chief of detectives Joseph Kenny said. On Sunday afternoon, while they did release new images , police declined to comment on the contents of the backpack, or on the results of the search in the pond. But the day before, sources told NBC News police found money from a Monopoly game inside the backpack they believe the gunman used. Hundreds of detectives are pouring over video recordings and social media posts, checking tips from the public and carrying out interviews. Among those being questioned are Thompson's family and co-workers and the gunman's randomly assigned roommates at the Manhattan hostel where he stayed. Police believe the killer likely took a bus out of New York soon after the brazen ambush. Before he arrived in New York, he travelled from Atlanta. Detectives are searching for video from that bus station and others along the Greyhound Bus route. Other video found by detectives shows the man riding a bicycle into the park and later taking a taxi to a bus station from where he could travel to New Jersey, Philadelphia, Boston and Washington DC, according to Mr Kenny.N.C. State defensive coordinator Tony Gibson was named head coach at Marshall on Sunday, shortly after Thundering Herd coach Charles Huff's hiring was announced at Southern Miss. Gibson, 52, will take his first head-coaching job in college and return to his home state, where he served two stints at West Virginia over the past two decades. The terms of Gibson's deal were not immediately disclosed. “We could not be happier to welcome Tony Gibson home as our 32nd head coach at Marshall University,” school President Brad Smith said in a statement. “Coach Gibson has led some of the top programs on the national level, but in the end, his heart desired to return to the mountains from which he came." Gibson's hiring was announced less than an hour after Huff was named coach at Southern Miss. Huff coached Marshall to a 31-3 victory over Louisiana-Lafayette in the Sun Belt championship game on Saturday night. Marshall (10-3) won seven straight games for its first 10-win season since 2015. Gibson coached defensive backs at West Virginia under Rich Rodriguez from 2001 to 2007. He returned in 2013 under Dana Holgorsen as safeties coach, then became defensive coordinator a year later and stayed until Holgorsen left at the end of the 2018 season. Gibson spent six seasons at N.C. State. He had other assistant coaching stints at Pitt and under Rodriguez at Michigan and Arizona. N.C. State’s defense ranked near the bottom of the ACC this season, allowing 30.5 points and 385 yards per game. The Wolfpack’s best season under Gibson was in 2022, when it tied with Louisville for the fewest points allowed at 19.2 per game and was second in yards allowed at 327. “My family and I are excited to start this journey, but we all thank you for your support and the wonderful memories,” Gibson wrote to the N.C. State community in a post Sunday on the social media platform X. Gibson, who is from Van, West Virginia, graduated in 1994 from Glenville State, where he played defensive back. “We have recruited a proven coach that aspires to be at Marshall and to sustain the success we have come to appreciate and expect,” athletic director Christian Spears said in the statement. "We can’t wait to get started with him and his staff.” One of Gibson’s first tasks will be replenishing Marshall’s roster. The Thundering Herd signed only 11 recruits in the recent early signing period. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football
IRVING, Texas (AP) — The NFL will consider expanding replay assist to include facemask penalties and other plays. Officials have missed several obvious facemask penalties this season, including two in a three-week span during Thursday night games.
By Harshita Mary Varghese (Reuters) – Alphabet led a Big Tech rally on Wednesday, with its stock hitting a record high after U.S. President-elect Donald Trump picked Federal Trade Commissioner Andrew Ferguson to lead the consumer protection and antitrust agency. Trump tapped Ferguson on Tuesday to replace Lina Khan, whose term as FTC chair has expired. The agency became a political flashpoint under Khan, who promoted antitrust enforcement as a check on corporate power. Several Big Tech firms such as Google-parent Alphabet, Microsoft and Apple faced heightened regulatory pressure from the FTC during her tenure. Ferguson was a “known dissenter” under Khan “and many people feel under his leadership the antitrust case against Alphabet will come to an end”, said Jay Woods, chief global strategist at Freedom Capital Markets. Trump and his team have been broadly critical of Big Tech companies, although some of his most prominent backers were tech executives, and it is unclear how they will approach regulatory and M&A policy for that sector. Alphabet’s shares rose about 5.5% to hit a record high of $195.45. Tesla jumped 4.6%, also to a record high, extending its rally since the Nov. 5 presidential election on bets the EV-maker will benefit from CEO Elon Musk’s close relationship with Trump. Other tech shares also rallied. Microsoft gained 1.2% and Amazon.com and Meta Platforms added 2% each. The latest inflation report raised expectations of an interest-rate cut by the U.S. Federal Reserve later this month, lifting technology stocks. Shares of Alphabet have gained over 10% in the last two days following announcements from the company about its AI agents and quantum-chip breakthrough. Google released the second generation of its Gemini artificial-intelligence model earlier on Wednesday and teased a lineup of new ways to use AI beyond chatbots, including through a pair of eyeglasses. It unveiled a new-generation chip on Monday, which it said helped overcome a key challenge in quantum computing. “What we’re seeing here is Google positioning itself at the bleeding edge of a transformative technology,” said Michael Ashley Schulman, chief investment officer at Running Point Capital. “While Google sometimes has been viewed as ‘behind’ in AI, the recent quantum breakthrough shows us that the company knows how to construct processors,” said Jamie Meyers, senior analyst at Laffer Tengler Investments. (Reporting by Harshita Mary Varghese in Bengaluru; Editing by Pooja Desai) Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content. var ytflag = 0;var myListener = function() {document.removeEventListener('mousemove', myListener, false);lazyloadmyframes();};document.addEventListener('mousemove', myListener, false);window.addEventListener('scroll', function() {if (ytflag == 0) {lazyloadmyframes();ytflag = 1;}});function lazyloadmyframes() {var ytv = document.getElementsByClassName("klazyiframe");for (var i = 0; i < ytv.length; i++) {ytv[i].src = ytv[i].getAttribute('data-src');}} Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );David Woiwod to join Monique Wright on the couch as Weekend Sunrise co-host
13 Amazon Fashion Pieces Nail the East Coast Rich Mom AestheticTeen actor Hudson Meek, who appeared in ‘Baby Driver,’ dies after falling from moving vehicle
ATLANTA , Dec. 23, 2024 /PRNewswire/ -- KORE Group Holdings, Inc. (NYSE: KORE) ("KORE" or the "Company"), the global pure-play Internet of Things ("IoT") hyperscaler and provider of IoT Connectivity, Solutions, and Analytics, today announced it has received notification (the "Acceptance Letter") from the New York Stock Exchange (the "NYSE") that the NYSE has accepted the Company's previously-submitted plan (the "Plan") to regain compliance with the NYSE's continued listing standards set forth in Section 802.01B of the NYSE Listed Company Manual relating to minimum market capitalization and stockholders' equity. In the Acceptance Letter, the NYSE granted the Company an 18-month period from September 12, 2024 (the "Plan Period") to regain compliance with the continued listing standards. As part of the Plan, the Company is required to provide the NYSE quarterly updates regarding its progress towards the goals and initiatives in the Plan. In the Plan, Kore included details regarding previously reported operational restructuring activities, as well as an outlook on the Company's business. The Company expects its common stock will continue to be listed on the NYSE during the Plan Period, subject to the Company adherence to the Plan and compliance with other applicable NYSE continued listing standards. The Company's receipt of such notification from the NYSE does not affect the Company's business, operations or reporting requirements with the U.S. Securities and Exchange Commission. Cautionary Note on Forward-Looking Statements This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "guidance," "project," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding expected progress with the Company's compliance plan submitted to the NYSE, expected compliance with continued listing standards of the NYSE and expected continued listing of the Company's common stock on the NYSE. These statements are based on various assumptions and on the current expectations of KORE's management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of KORE. These forward-looking statements are subject to a number of risks and uncertainties, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; risks related to the rollout of KORE's business and the timing of expected business milestones; risks relating to the integration of KORE's acquired companies, including the acquisition of Twilio's IoT business, changes in the assumptions underlying KORE's expectations regarding its future business; our ability to negotiate and sign a definitive contract with a customer in our sales funnel; our ability to realize some or all of estimates relating to customer contracts as revenue, including any contractual options available to customers or contractual periods that are subject to termination for convenience provisions; the effects of competition on KORE's future business; and the outcome of judicial proceedings to which KORE is, or may become a party. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that KORE presently does not know or that KORE currently believes are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect KORE's expectations, plans or forecasts of future events and views as of the date of this press release. KORE anticipates that subsequent events and developments will cause these assessments to change. However, while KORE may elect to update these forward-looking statements at some point in the future, KORE specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing KORE's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. KORE Investor Contact: Vik Vijayvergiya Vice President, IR, Corporate Development and Strategy vvijayvergiya@korewireless.com (770) 280-0324 View original content to download multimedia: https://www.prnewswire.com/news-releases/kore-announces-nyse-acceptance-of-plan-to-regain-listing-compliance-302338621.html SOURCE KORE Group Holdings, Inc.The New York Mets missed the World Series in 2024, but they could bolster their rotation through free agency in hopes of getting over the hump in 2025. FanSided's Jacob Mountz urged the Mets to sign Los Angeles Dodgers star Walker Buehler in free agency this winter. "Since his injuries have hampered his career, he will likely be inexpensive lowering his potential risks and giving Cohen some padding in his pursuit of top-tier stars like Soto and Alonso," wrote Mountz. "If Buehler can stay healthy, he will likely provide his new club the most bang for their buck." Mountz noted Buehler's success in the postseason as the biggest reason the Mets should sign him. Buehler has pitched 94 2/3 postseason innings and holds a 3.04 ERA. He has tallied 119 strikeouts. Buehler had the worst regular season of his career and started off the postseason on a sour note. However, he bounced back and was a huge part of the Dodgers title. After allowing six runs in five innings against the San Diego Padres, his next two starts were flawless. He went a combined nine innings with 11 strikeouts. He even came on to get the title-clinching save on one day of rest. The Mets could be losing Sean Manaea in free agency. Adding Buehler would be cheap, allowing them to still retain Pete Alonso or sign Juan Soto. "One key issue the Mets dealt with in 2024 was pitching. As a team, the Mets posted a 3.96 ERA, ranked 15th in the MLB. Notably, Kodai Senga was injured for all but one game," wrote Mountz. "The Mets will be in better shape when he returns, but their starting rotation will need an overhaul. One arm Cohen should be looking at could return to ace form at a low cost." Buehler is a two-time All-Star. If he can find that form again he could be a great signing for the Mets. More MLB: Mets urged to sign Dodgers 33 home run slugger in free agency blockbuster
Vikings staying on track and in control behind Sam Darnold's composure and confidence
