Kroger Financial News

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(Reuters) — Kroger (NYSE:KR) and Albertsons Companies Inc are in talks to sell some grocery stores to C&S Wholesale Grocers to obtain regulatory approval for their $25 billion merger, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Stocks closed lower on Wall Street as traders return from a long holiday weekend

Stocks on Wall Street ended mostly higher on Friday to notch their best week since June, after the latest U.S. jobs report solidified expectations of a pause in interest rate hikes this month.

police body camera footage has shed light on a tragic incident in a Columbus, Ohio suburb, where a Blendon Township police officer fired at a pregnant woman's car. Ta'kiya Young, 21 years old and pregnant at the time, was later pronounced dead. The incident unfolded following accusations of shoplifting at a local grocery store, and the bodycam footage provides critical insights into the events leading up to the tragic shooting.

By Diane Bartz

Officials say a Kentucky-based indoor farming company that was backed by Martha Stewart when it began shipping tomatoes in early 2021 has filed for bankruptcy

Venice Film Festival, revealed the official lineup for the 80th edition of the prestigious event today. Despite successfully navigating through the challenges posed by the Covid pandemic and implementing necessary protocols, the festival is now confronted with a new obstacle – the ongoing WGA and SAG-AFTRA strikes. Unlike previous years, this time, there is anticipation for a reduced presence of high-profile Hollywood stars and a smaller US representation on the Lido. Studios are understandably cautious about launching their projects without the usual celebrity support, considering Venice's significant role as a launchpad for awards season and a prime opportunity to garner media attention for talent. Meanwhile, the Venice Film Festival has already switched its opening selection, after the movie that had been slated to open pulled out because of the ongoing Hollywood strike, organisers said. Edoardo De Angelis' «Comandante» will now open the 80th Venice International Film Festival, in place of Luca Guadagnino's «Challengers», the festival said in a statement late on Friday. «Challengers» featuring US star Zendaya, «will not participate at the Festival following a decision made by the production,» owing to ongoing industrial action in Hollywood, it said. Venice festival is set to commence on August 30 and will end on September 9 with the screening of «La sociedad de la nieve» («Society of the Snow») by Spanish director Juan Antonio Bayona, the organisers said.

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Check out the companies making headlines before the bell:Albertsons (ACI)– Albertsons lost 4.1% in the premarket after announcing a merger deal with supermarket rival Kroger (KR). Albertsons surged 11.5% Thursday after sources told CNBC the two sides were in talks to combine. Kroger shares slipped 3%.

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Cost-conscious consumers are buying more store brands at the supermarket, raising pressure on big food companies that are dealing with their own rising costs.

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Rising food prices are helping boost sales and profits for U.S. grocery chains, as some retailers said that consumers so far are accepting higher prices.

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Check out the companies making headlines in midday trading.

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