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Kroger and Albertsons' plan for the largest U.S. supermarket merger in history crumbled Wednesday, with Albertsons pulling out of the $24.6 billion deal and the two companies accusing each other of not doing enough to push their proposed alliance through. Albertsons said it had filed a lawsuit against Kroger, seeking a $600 million termination fee as well as billions of dollars in legal fees and lost shareholder value. Kroger said the claims were “baseless” and that Albertsons was not entitled to the fee. The bitter breakup came the day after two judges halted the proposed merger in separate court cases. U.S. District Court Judge Adrienne Nelson in Oregon issued a preliminary injunction Tuesday blocking the merger until an in-house judge at the Federal Trade Commission could consider the matter. An hour later, Superior Court Judge Marshall Ferguson in Seattle issued a permanent injunction barring the merger . Ferguson ruled that combining Albertsons and Kroger would lessen competition and violate consumer-protection laws. The companies could have appealed the rulings or proceeded to the in-house FTC hearings. Albertsons' decision to pull out of deal instead surprised some industry experts. “I’m in a state of professional and commercial shock that they would take this scorched earth approach,” said Burt Flickinger, a longtime analyst and owner of retail consulting firm Strategic Resource Group. “The logical thing would have been for Albertsons to let the decision sink in for a day and then meet and see what could be done. But the lawsuit seems to make that a moot issue.” Albertsons is unlikely to find another merger partner because it has significant debt and underperforming stores in most of its markets., Flickinger said. Consumers will feel the most immediate impact of the deal's demise, he said, since Albertsons charges 12% to 14% more than Kroger and other grocery rivals. “They had so much debt they had to pay it off it's reflected in their pricing and promotional structure,” Flickinger said. Albertsons CEO Vivek Sankaran testified during the federal hearing in September that his company might consider “structural options” like laying off employees, closing stores and exiting certain markets if the merger with Kroger didn’t go through. “I would have to consider that,” he said. “It’s a dramatically different picture with the merger than without it.” But in a statement Wednesday, Sankaran said Albertsons would “start this next chapter in strong financial condition with a track record of positive business performance." In the company's most recent quarter, Albertsons' revenue rose 1% to $18.5 billion and it reported $7.9 billion in debt. Kroger and Albertsons first proposed the merger in 2022 . They argued that combining would help them better compete with big retailers like Walmart, Costco and Amazon, which are gaining an increasing share of U.S. grocery sales. Together, Kroger and Albertsons would control around 13% of the U.S. grocery market. Walmart controls around 22%. Under the merger agreement, Kroger and Albertsons — who compete in 22 states — agreed to sell 579 stores in places where their locations overlap to C&S Wholesale Grocers , a New Hampshire-based supplier to independent supermarkets that also owns the Grand Union and Piggly Wiggly store brands. But the Federal Trade Commission and two states — Washington and Colorado — sued to block the merger earlier this year, saying it would raise prices and lower workers' wages by eliminating competition. It also said the divestiture plan was inadequate and that C&S was ill-equipped to take on so many stores. On Wednesday, Albertsons said that Kroger failed to exercise “best efforts” and to take “any and all actions” to secure regulatory approval of the companies’ agreed merger transaction. Albertsons said Kroger refused to divest the assets necessary for antitrust approval, ignored regulators' feedback and rejected divestiture buyers that would have been stronger than C&S. “Kroger’s self-serving conduct, taken at the expense of Albertsons and the agreed transaction, has harmed Albertsons’ shareholders, associates and consumers,” said Tom Moriarty, Albertsons’ general counsel, in a statement. Kroger said that it disagrees with Albertsons “in the strongest possible terms.” It said early Wednesday that Albertsons was responsible for “repeated intentional material breaches and interference throughout the merger process.” Kroger , based in Cincinnati, Ohio, operates 2,800 stores in 35 states, including brands like Ralphs, Smith’s and Harris Teeter. Albertsons , based in Boise, Idaho, operates 2,273 stores in 34 states, including brands like Safeway, Jewel Osco and Shaw’s. Together, the companies employ around 710,000 people. Kroger sued the FTC in August in federal court in Ohio, claiming that the federal agency’s in-house administrative hearings were unlawful because the FTC was also able to challenge the merger in federal court in Oregon. In paperwork filed Wednesday, the FTC said it expected to update the court on its next steps in that case by Dec. 17. In Colorado, which also sued to block the merger, Attorney General Phil Weiser said Tuesday that he still was awaiting a decision from a state judge. In that case, Colorado also was challenging an allegedly illegal no-poach agreement Kroger and Albertsons made during a 2022 strike. Shares of Albertsons were down less than 1% in late trading Wednesday, while Kroger's stock was up less than 1%.Covenant Logistics Group Announces Quarterly Cash DividendAdobe Inc ADBE reported fourth-quarter financial results after the market close on Wednesday. Here’s a look at the key metrics from the quarter . Q4 Earnings: Adobe reported fourth-quarter revenue of $5.61 billion, beating the consensus estimate of $5.54 billion. The company reported fourth-quarter adjusted earnings of $4.81 per share, beating analyst estimates of $4.66 per share. Adobe has now exceeded analyst estimates in eight consecutive quarters, according to earnings data from Benzinga Pro . Total revenue was up 11% year-over-year, digital media revenue was up 12% year-over-year and digital experience revenue was up 10% year-over-year. Remaining performance obligations came in at $19.96 billion, up 16% year-over-year. Cash flows from operations totaled $2.92 billion in the fourth quarter. Adobe noted that it repurchased approximately 4.6 million shares during the period. “Adobe delivered record FY24 revenue, demonstrating strong demand and the mission-critical role Creative Cloud, Document Cloud and Experience Cloud play in fueling the AI economy,” said Shantanu Narayen , chair and CEO of Adobe. “Our highly differentiated technology platforms, rapid pace of innovation, diversified go-to-market and the integration of our clouds position us for a great year ahead.” Related Link: Costco Q1 Earnings Preview: Membership Fee Increase In Focus With Shares At All-Time Highs Guidance: Adobe expects first-quarter revenue to be in the range of $5.63 billion to $5.68 billion versus estimates of $5.73 billion. The company anticipates first-quarter adjusted earnings of $4.95 to $5 per share versus estimates of $4.95 per share. Adobe expects full-year 2025 revenue to be between $23.3 billion and $23.55 billion versus estimates of $23.79 billion. Adobe sees full-year adjusted earnings in the range of $20.20 to $20.50 per share versus estimates of $20.55 per share, according to Benzinga Pro . Adobe shares appear to be facing selling pressure due to the company’s soft guidance. Management will further discuss the quarter on a call with analysts and investors from 5 p.m. to 6 p.m. ET. ADBE Price Action: Adobe shares were down approximately 7.5% year-to-date heading into the print. At the time of publication Wednesday, the stock was down 7.63% at $507.99 in after-hours, according to Benzinga Pro . Read Next: Alphabet’s Quantum Willow Chip Wows Analyst: Google At The ‘Leading Edge Of Technology Innovation’ Photo: Shutterstock. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Labour plans to make spiking a specific offence. Making spiking a specific offence is about making sure the law is up to date to deal with it as a crime, justice minister Alex Davies-Jones has said. Labour plans to make spiking a specific offence and has laid out plans for venue staff to be trained in relation to spiking, with a pilot to begin within weeks before a wider rollout next year. Ms Davies-Jones, asked about why it was worthwhile to make spiking a new offence when it is already illegal, said: “Spiking is a crime already. “A lot of people don’t realise that it is a crime already, which is part of the problem.” She said there were around 6,000 reports of spiking last year but that because it is an underreported crime, it is not clear how big of a problem it is. “Part of the problem we’ve got is around the data collection, so you don’t know if you’ve been spiked with a drink, a needle, a vape, for example,” she told Politics Hub on Sky News. Modernising the offence and giving police the tools to get accurate data allows a clearer picture of where, how and how often spiking is happening, she said. It is about “clarifying it, modernising it, making sure that people know exactly what this is...the law isn’t quite, it isn’t up to date. “It isn’t modern enough.” Sir Keir Starmer earlier said he hopes the change will give people “the confidence to come forward”, in a meeting of police bosses, transport figures and hospitality executives in Downing Street. Ms Davies-Jones and Home Secretary Yvette Cooper were among the attendees at the round-table discussion on Monday morning. Labour pledged in its manifesto to introduce a new offence for spiking, but there was no detail in the King’s Speech this year about a specific crime, though it promised to ensure an improved police response to cases. According to information published by the Metropolitan Police, spiking offences are currently covered by more than one law, but most come under the Offences Against the Person Act 1861. Sir Keir told the meeting: “There are a number of measures that we are setting out this morning – we want to talk it through with you. “The first is to make spiking a specific offence so that it counts, it’s reported.” He said that such a measure would mean that it “enables everybody to have the confidence to come forward” and also “it allows perpetrators to know that it’s a specific offence”. Detailing the training scheme, he went on: “We’re beginning the piloting of training for staff in venues.” He said the scheme would be “partly to spot what’s happening, but also to know what to do in the event that there is an incident in a venue”. “That will start in December with a pilot then it will be rolled out from March of next year,” Sir Keir added. He also said that the “final” point of discussion for the morning was “police indexing – (the) way that we count it across different police forces”. Sir Keir added: “At the moment it’s quite hard to get your arms around the pure numbers.” Plain clothes officers are being deployed in areas around bars and clubs to spot predatory behaviour. The text-to-report number, 61016, that allows women to contact British Transport Police to report harassment on the train, is due to be relaunched. Home Secretary Yvette Cooper said: “Spiking is a disturbing and serious crime which can have a damaging and long-lasting impact on victims. “That’s why today we are taking decisive action to prevent this devastating crime and to crack down on perpetrators, by introducing a new criminal offence for spiking and launching specialist training for thousands of bar staff nationwide. “People shouldn’t have to worry about the safety of their drinks on a night out. “These changes are about giving victims greater confidence to come forward, and ensuring that there is a robust response from the police whenever these appalling crimes take place.”PHILADELPHIA — A.J. Brown usually doesn’t talk until Friday, but he knew that wasn’t going to fly ahead of the Eagles’ Week 15 game against the Pittsburgh Steelers. Not after injured teammate Brandon Graham said the receiver had a problem with quarterback Jalen Hurts. Not when the Eagles are 11-2 and riding a nine-game winning streak that so many fear could be derailed by an unexpected controversy.
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The death of former President Jimmy Carter on Sunday led to a swift outpouring of support and condolences from notable figures in both political parties. President Joe Biden and president-elect Donald Trump issued statements Sunday, and both said Carter was a president who worked to better Americans’ lives. “He was a man of great character and courage, hope and optimism,” Biden and First Lady Jill Biden said in a statement. “We will always cherish seeing him and Rosalynn together. The love shared between Jimmy and Rosalynn Carter is the definition of partnership and their humble leadership is the definition of patriotism.” Trump said Carter dealt with “enormous responsibility” that only other presidents could relate to. “The challenges Jimmy faced as President came at a pivotal time for our country and he did everything in his power to improve the lives of all Americans,” Trump said in a post to Truth Social. “For that, we all owe him a debt of gratitude.” ‘One of my heroes’ Fellow Georgia politicians, including Democratic Sens. Jon Ossoff and Raphael Warnock, issued passionate statements following the news Sunday. Warnock referred to the Plains native as “one of my heroes.” “His leadership was driven by love, his life’s project grounded in compassion and a commitment to human dignity,” Warnock said. “For those of us who have the privilege of representing our communities in elected office, Jimmy Carter is a shining example of what it means to make your faith come alive through the noble work of public service.” Ossoff said Carter’s work “changed the lives of many across our state, our country, and around the world.” “The State of Georgia and the United States are better places because of President Jimmy Carter,” Ossoff said. Former Sen. Sam Nunn, from Georgia, lauded Carter for his “spine of steel and intrepid focus and determination.” “Colin Powell and I had front row seats to these unique Carter traits in Haiti in 1994,” he said in a statement. “I will never forget nervously watching President Carter negotiate every word of the Haitian military’s peaceful turnover of authority, while the U.S. Army’s 82nd Airborne prepared to land on the roof of the military headquarters, where we were finishing the agreement.” Brad Raffensperger, Georgia secretary of state, said Carter devoted his life to serving the U.S. “As a true servant-leader, he devoted his post-presidency to spreading the very best of American ideals across the globe,” Raffensperger said in a statement Sunday. “His commitment to peace, democracy, and human rights has left an indelible mark on the world.” The Democratic Party of Georgia’s Chair, Rep. Nikema Williams, said Carter “leaves one of the greatest legacies of humanitarianism in history.” “My husband Leslie and I named our son Carter after our 39th president because he showed us that ordinary Georgians can do extraordinary things,” Williams said. “He was one of the greatest public servants of our time – and he was also a peanut farmer from Plains, Georgia. From a southwest Georgia town of a few hundred people to the Oval Office, President Carter went from sowing crops to sowing the seeds of peace around the world.” Georgia Lt. Gov. Ines Owens said Carter “represented small towns like Plains, Georgia and never forgot where he and his family came from.” Georgia’s Carter had ‘calm spirit and deep faith’ Major national lawmakers outside the Peach State offered their thoughts too, including GOP Sen. Mitch McConnell. McConnell said Carter’s “calm spirit and deep faith seemed “unshakable” during difficulties in his presidency. “President Carter lived a truly American dream,” McConnell said. “A devoutly religious peanut farmer from small-town Georgia volunteered to serve his country in uniform. He found himself manning cutting-edge submarines hundreds of feet beneath the ocean. He returned home and saved the family farm before feeling drawn to a different sort of public service. And less than 15 years after his first campaign for the state Senate, his fellow Americans elected him leader of the free world.” Chuck Schumer, the Democratic Senate majority leader, called Carter “one of our most humble and devoted public servants.” “President Carter’s faith in the American people and his belief in the power of kindness and humility leave a strong legacy,” Schumer said. “He taught us that the strength of a leader lies not in rhetoric but in action, not in personal gain but in service to others.” This is a developing story and will be updated.
WASHINGTON (AP) — Pete Hegseth, President-elect Donald Trump’s nominee to lead the Defense Department, said he had a “wonderful conversation” with Maine Sen. Susan Collins on Wednesday as he pushed to win enough votes for confirmation. He said he will not back down after allegations of excessive drinking and sexual misconduct. Collins said after the hourlong meeting that she questioned Hegseth about the allegations amid reports of drinking and the revelation that he made a settlement payment after being accused of a sexual assault that he denies. She said she had a “good, substantive” discussion with Hegseth and “covered a wide range of topics,” including sexual assault in the military, Ukraine and NATO. But she said she would wait until a hearing, and notably a background check, to make a decision. “I asked virtually every question under the sun,” Collins told reporters as she left her office after the meeting. "I pressed him both on his position on military issues as well as the allegations against him, so I don’t think there was anything that we did not cover.” The meeting with Collins was closely watched as she is seen as more likely than most of her Republican Senate colleagues to vote against some of Trump’s Cabinet picks. She and Alaska Sen. Lisa Murkowski, a fellow moderate Republican, did not shy from opposing Trump in his first term when they wanted to do so and sometimes supported President Joe Biden’s nominees for the judicial and executive branches. And Hegseth, an infantry combat veteran and former “Fox & Friends” weekend host, is working to gain as many votes as he can as some senators have expressed concerns about his personal history and lack of management experience. “I’m certainly not going to assume anything about where the senator stands,” Hegseth said as he left Collins’ office. “This is a process that we respect and appreciate. And we hope, in time, overall, when we get through that committee and to the floor that we can earn her support.” Hegseth met with Murkowski on Tuesday. He has also been meeting repeatedly with Iowa Sen. Joni Ernst, a military veteran who has said she is a survivor of sexual assault and has spent time in the Senate working on improving how attacks are reported and prosecuted within the ranks. On Monday, Ernst said after a meeting with him that he had committed to selecting a senior official to prioritize those goals. Republicans will have a 53-49 majority next year, meaning Trump cannot lose more than three votes on any of his nominees. It is so far unclear whether Hegseth will have enough support, but Trump has stepped up his pressure on senators in the last week. “Pete is a WINNER, and there is nothing that can be done to change that!!!” Trump posted on his social media platform last week. On Thursday, Hegseth plans to meet with a Democrat — Pennsylvania Sen. John Fetterman. Fetterman confirmed the meeting to The Associated Press but did not say whether he was considering supporting Hegseth or what he planned to discuss. ___ Associated Press writer Ali Swenson contributed to this report. Mary Clare Jalonick And Matt Brown, The Associated Press
Sportscaster Greg Gumbel dies from cancer at age 78Jacob Bethell will bat at No 3 on his England Test debut against New Zealand - just days after being picked up in the IPL auction for £250,000 - as Ollie Pope moves down the order Jacob Bethell will bat at No 3 on his England Test debut against New Zealand The 21-year-old made his ODI and T20 debuts just two months ago in September By LAWRENCE BOOTH Published: 22:40 GMT, 25 November 2024 | Updated: 22:40 GMT, 25 November 2024 e-mail View comments Jacob Bethell will bat at No 3 on his Test debut in Christchurch on Wednesday night after England were forced to rejig their plans following Jordan Cox’s broken thumb. The move means Ollie Pope – who will take the gloves for the first time in two years – will drop down three places to No 6, while captain Ben Stokes comes in at No 7. The 21-year-old Bethell has never batted at No 3 in his 20 first-class games for Warwickshire, which have produced a modest 738 runs at an average of 25. And he has batted at No 4 only twice. He will also be the first specialist batter to play Test cricket for England without a first-class hundred under his belt since Mike Gatting in 1978. The news completes a heady couple of days for Bethell, after he was picked up in the IPL auction by Royal Challengers Bangalore for just under £250,000. And it means he will have made his international debut in all three formats in less than three months, after breaking into the white-ball sides against Australia in September. For Pope, who last kept wicket in a Test at Multan in December 2022, the rejig spares him further scrutiny at No 3, where he has reached 30 only once in his last 12 Test innings. Jacob Bethell will bat at No 3 on his Test debut in Christchurch on Wednesday night Bethell made his T20 debut on September 11 this year and his ODI debut just eight days later Stokes, meanwhile, could be liberated by his move to No 7, after struggling for runs on his return to the Test side from injury in Pakistan. He will be one of four seamers in the side, along with Chris Woakes, Gus Atkinson and Brydon Carse, with Shoaib Bashir the lone frontline spinner on a Hagley Oval surface that looked green 48 hours out from the start of the three-match series. England for first Test v New Zealand 1 Zak Crawley, 2 Ben Duckett, 3. Jacob Bethell, 4 Joe Root, 5 Harry Brook, 6 Ollie Pope (wkt), 7 Ben Stokes (capt), 8 Chris Woakes, 9 Gus Atkinson, 10 Brydon Carse, 11 Shoaib Bashir. New Zealand Ben Stokes Share or comment on this article: Jacob Bethell will bat at No 3 on his England Test debut against New Zealand - just days after being picked up in the IPL auction for £250,000 - as Ollie Pope moves down the order e-mail Add commentThunder rout short-handed Grizzlies 130-106 for their 11th straight victoryBluesky sees growing pains
Inner South Don't miss out on the headlines from Inner South . Followed categories will be added to My News. A Melbourne bodybuilder who competed at international level is suspected of running a major drug and roid racket. Blair Loveday, 55, fronted Melbourne Magistrates’ Court on Monday charged with trafficking a commercial quantity of MDMA. Mr Loveday, who was also charged with trafficking cocaine and ketamine, was allegedly caught at his Melbourne apartment with various drugs and cash on August 2 this year. Mr Loveday was allegedly arrested at his Melbourne apartment with drugs, testosterone, steroids and cash. Police alleged Mr Loveday, a former World Fitness Federation competitor, also trafficked testosterone and anabolic steroids. Mr Loveday, who was also charged with trafficking prescription drugs, was allegedly pinched with cocaine, MDMA and ketamine. Get the latest news straight to your inbox. Subscribe to the newsletters. Investigators also alleged Mr Loveday, who was charged with drug possession, was caught with $9050 cash and a silver Breitling watch suspected of being the proceeds of crime. Mr Loveday was also allegedly caught material used to deal drugs including a powder press, vial crimps, a heat gun and heat sealer, glass vials and beakers, labelling machine and printed labels, a funnel and scales. Melbourne Divisional Response Unit police also suspect Mr Loveday imported a marketable quantity of cocaine via Melbourne Airport on June 20 this year. Mr Loveday in a bodybuilding competition in 2004. Mr Loveday is a prolific competition bodybuilder who competed throughout Australia and overseas for more than two decades. Mr Loveday also claimed, via social media, to run bodybuilding competition promotion company ‘ProComp Thailand’. Mr Loveday was remanded to front court at a later date. More Coverage Slippery sex fiend blabbed suspect drug supplier to cops Paul Shapiro Glam ex real estate agent swept up in alleged steroid syndicate Paul Shapiro More related stories South East Traffick jam: Prolific Melbourne drug dealers unmasked A mum, a stripper, a kickboxer, a chiropractor, lovers and an ex-navy sailor are Melbourne’s most prolific drug dealers of 2024. Read more News Top rated Victorian childcare centres revealed The top rated and underperforming childcare centres across Victoria have been revealed. Search and see the list and watch our exclusive videos. Read more29 Deputy Ministers sworn in
Irv Wilson, a former programming executive at NBC and producer of several high profile TV movies that starred Jerry Lewis, Martin Sheen, Telly Savalas, Bruce Dern and Morgan Freeman, died December 26 after a short illness. He was 93. His death was confirmed by his longtime friend, Tom Nunan, who paid tribute to Wilson on Facebook by writing, “Wilson loved life, and anyone who became close to him knew that a good glass of red wine, a little weed, [his wife’s] cooking, and a Giants game came pretty close to heaven for the well-loved, culturally complex maven.” Born in New York City, Wilson served in the Korean war before returning to the Big Apple to attend NYU via the G.I. Bill. He would go on to spend his career in the entertainment industry, first as a talent agent and producer, then as a TV programming executive for NBC where he oversaw the TV movie department and later, daytime and late night programming. He worked alongside Fred Silverman and Brandon Tartikoff and helped to discover future filmmakers such as Ron Howard while supporting gifted playwrights like Stanley Greenberg. After his network executive life, Wilson returned to producing work under deals at Fries Entertainment and Viacom, where he made several high profile TV movies. He may be best known for executive producing The Missiles of October , an ABC made-for-TV play from 1974 about the Cuban Missile Crisis that starred William Devane as President John F. Kennedy and Martin Sheen as Attorney General Robert F. Kennedy. Nunan says his friend was also proud of his 1980 TV movie FDR: The Last Year for NBC that starred Jason Robards. Wilson was a lifelong Giants fan, even after their move to San Francisco. He was also a news and information junkie and liked to spend much of his retirement debating politics. “He will be missed by many, but remembered by all who met him as simply a wonderful guy, a true character who always managed to get you to pick up lunch,” Nunan said on Facebook. “As he’d put it himself, he was King of the ‘Schnorrers.’ Look it up. It’s Yiddish, the language of giants.” Wilson is survived by Anne Carlucci, his wife of 46 years who was also a prolific TV movie producer; and his daughters Amy, Julie, and Kate.
Axarquia has indeed shown worthy solidarity through public and educational outreach. On Monday November 25, a march took off in Vélez-Málaga starting at 11am from the esplanade in front of the Community Social Services Centre to the Paseo de Andalucía. A white ribbon was placed on the town hall door to commemorate victims of gender violence – 40 murdered women in 2024. The Virgen de Los Remedios chapel, Vélez-Málaga and the Virgen del Carmen fountain, Torre del Mar were illuminated in purple on November 25 and 26. Most Read on Euro Weekly News Nerja and Maro schools organized co-ed activities on gender violence In Nerja and Maro schools, co-educational activities were organised and there was an open seminar held at Nerja museum. School pupils attended a performance at the Villa de Nerja Cultural Centre on Wednesday 20 to raise awareness on gender violence. Fun sports and ceremony in Nerja in solidarity against gender violence Fun sporting events livened up the afternoon on Monday November 25 in Nerja followed by the reading of a moving manifesto in the town hall and a ceremony at the Balcón de Europa. Torrox schools take a stand and landmarks lit up with purple lights In Torrox, primary and secondary schools have been proactive with interactive workshops, performances and competitions to bring this social issue to life. On Monday evening, a performance of Alma de Mujer (Woman’s Soul) showcased at the local theatre, combining music, theatre and dance. Torrox landmarks like La Almedina fountain were illuminated in purple in a collaborative effort to mark this international day.Lucky Eagle Casino & Hotel installs Quick Custom Intelligence's Enterprise PlatformHegseth meets with moderate Sen. Collins as he lobbies for key votes in the Senate
A man has been sentenced to death after 35 people died when he drove into a crowd in southern China, in an attack that has prompted China’s leader to call for an end to a recent spate of mass killings. Fan Weiqiu, 62, mowed down a crowd at a sports center in the southern city of Zhuhai last month, venting his anger because he was unhappy with his divorce settlement, Xinhua reported. A court statement on Friday said Fan's “ criminal motive was extremely despicable , the nature of the crime was extremely vile.” The attack was one of several mass killings in China in October and November dubbed “revenge on society crimes.” It spurred China’s leader Xi Jinping to call on all local governments “to strengthen prevention and control of risks at the source, strictly prevent extreme cases from occurring, and to resolve conflicts and disputes in a timely manner,” according to the Xinhua news agency. In November, a man struck people at an elementary school in Hunan province, wounding 30, after suffering investment losses. That same month, a student who failed his exam stabbed and killed eight at a vocational school in the city of Yixing. Experts said there was an overwhelming feeling of being pressured within Chinese society. “On the surface, it seems like there are individual factors, but we see there’s a common link,” Wu Qiang, a former political science professor, told The Associated Press. “This link is, in my personal opinion, every person has a feeling of injustice. They feel deeply that this society is very unfair and they can’t bear it anymore.” China’s Ministry of Justice vowed to curb attacks by looking into disputes over inheritance, housing, land and unpaid wages.Kroger and Albertsons' plan for the largest U.S. supermarket merger in history crumbled Wednesday, with Albertsons pulling out of the $24.6 billion deal and the two companies accusing each other of not doing enough to push their proposed alliance through. Albertsons said it had filed a lawsuit against Kroger, seeking a $600 million termination fee as well as billions of dollars in legal fees and lost shareholder value. Kroger said the claims were “baseless” and that Albertsons was not entitled to the fee. “After reviewing options, the company determined it is no longer in its best interests to pursue the merger,” Kroger said in a statement Wednesday. The bitter breakup came the day after two judges halted the proposed merger in separate court cases. U.S. District Court Judge Adrienne Nelson in Oregon issued a preliminary injunction Tuesday blocking the merger until an in-house judge at the Federal Trade Commission could consider the matter. An hour later, Superior Court Judge Marshall Ferguson in Seattle issued a permanent injunction barring the merger . Ferguson ruled that combining Albertsons and Kroger would lessen competition and violate consumer-protection laws. The companies could have appealed the rulings or proceeded to the in-house FTC hearings. Albertsons' decision to pull out of deal instead surprised some industry experts. “I’m in a state of professional and commercial shock that they would take this scorched earth approach,” said Burt Flickinger, a longtime analyst and owner of retail consulting firm Strategic Resource Group. “The logical thing would have been for Albertsons to let the decision sink in for a day and then meet and see what could be done. But the lawsuit seems to make that a moot issue.” Albertsons is unlikely to find another merger partner because it has significant debt and underperforming stores in most of its markets., Flickinger said. Consumers will feel the most immediate impact of the deal's demise, he said, since Albertsons charges 12% to 14% more than Kroger and other grocery rivals. “They had so much debt they had to pay it off it's reflected in their pricing and promotional structure,” Flickinger said. Albertsons CEO Vivek Sankaran testified during the federal hearing in September that his company might consider “structural options” like laying off employees, closing stores and exiting certain markets if the merger with Kroger didn’t go through. “I would have to consider that,” he said. “It’s a dramatically different picture with the merger than without it.” But in a statement Wednesday, Sankaran said Albertsons would “start this next chapter in strong financial condition with a track record of positive business performance." In the company's most recent quarter, Albertsons' revenue rose 1% to $18.5 billion and it reported $7.9 billion in debt. Kroger said it would also move forward in a strong financial position, with revenue down slightly to $33.6 billion in its most recent quarter. The company announced a $7.5 billion share buyback program Wednesday after a two-year pause. Kroger and Albertsons first proposed the merger in 2022 . They argued that combining would help them better compete with big retailers like Walmart, Costco and Amazon, which are gaining an increasing share of U.S. grocery sales. Together, Kroger and Albertsons would control around 13% of the U.S. grocery market. Walmart controls around 22%. Under the merger agreement, Kroger and Albertsons — who compete in 22 states — agreed to sell 579 stores in places where their locations overlap to C&S Wholesale Grocers , a New Hampshire-based supplier to independent supermarkets that also owns the Grand Union and Piggly Wiggly store brands. But the Federal Trade Commission and two states — Washington and Colorado — sued to block the merger earlier this year, saying it would raise prices and lower workers' wages by eliminating competition. It also said the divestiture plan was inadequate and that C&S was ill-equipped to take on so many stores. On Wednesday, Albertsons said that Kroger failed to exercise “best efforts” and to take “any and all actions” to secure regulatory approval of the companies’ agreed merger transaction. Albertsons said Kroger refused to divest the assets necessary for antitrust approval, ignored regulators' feedback and rejected divestiture buyers that would have been stronger than C&S. “Kroger’s self-serving conduct, taken at the expense of Albertsons and the agreed transaction, has harmed Albertsons’ shareholders, associates and consumers,” said Tom Moriarty, Albertsons’ general counsel, in a statement. Kroger said that it disagrees with Albertsons “in the strongest possible terms.” It said early Wednesday that Albertsons was responsible for “repeated intentional material breaches and interference throughout the merger process.” Kroger , based in Cincinnati, Ohio, operates 2,800 stores in 35 states, including brands like Ralphs, Smith’s and Harris Teeter. Albertsons , based in Boise, Idaho, operates 2,273 stores in 34 states, including brands like Safeway, Jewel Osco and Shaw’s. Together, the companies employ around 710,000 people. Kroger sued the FTC in August in federal court in Ohio, claiming that the federal agency’s in-house administrative hearings were unlawful because the FTC was also able to challenge the merger in federal court in Oregon. In paperwork filed Wednesday, the FTC said it expected to update the court on its next steps in that case by Dec. 17. In Colorado, which also sued to block the merger, Attorney General Phil Weiser said Tuesday that he still was awaiting a decision from a state judge. In that case, Colorado also was challenging an allegedly illegal no-poach agreement Kroger and Albertsons made during a 2022 strike. Shares of Albertsons fell 1.5% Wednesday, while Kroger's stock was up 1%.U.S. Bancorp ( NYSE:USB – Get Free Report ) declared a quarterly dividend on Tuesday, December 10th, RTT News reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.50 per share by the financial services provider on Wednesday, January 15th. This represents a $2.00 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp has raised its dividend by an average of 4.7% per year over the last three years and has increased its dividend every year for the last 14 years. U.S. Bancorp has a payout ratio of 46.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect U.S. Bancorp to earn $4.31 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 46.4%. U.S. Bancorp Stock Down 1.1 % U.S. Bancorp stock opened at $48.49 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50 day moving average price of $50.20 and a 200 day moving average price of $45.89. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a market capitalization of $75.65 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03. U.S. Bancorp announced that its Board of Directors has initiated a share buyback program on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued. Insiders Place Their Bets In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink . 0.23% of the stock is owned by corporate insiders. Analyst Upgrades and Downgrades USB has been the subject of several recent research reports. Stephens raised their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research note on Thursday, October 17th. Barclays upped their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Evercore ISI lifted their target price on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $53.68. Read Our Latest Research Report on U.S. Bancorp About U.S. Bancorp ( Get Free Report ) U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments. Featured Stories Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter .