Feb 20, 2018 - Technology

Albertsons to purchase what's left of Rite Aid

Photo: Smith Collection / Gado / Getty Images

Albertsons Cos., the owner of Safeway and other supermarket chains, is set to purchase the remainder of drugstore chain Rite Aid Corp. that won't be sold to Walgreens, per the WSJ. The deal would create a company with a combined value of $24 billion and allow the privately-held Albertsons to go public.

Why it matters: Both companies cited Amazon as a key reason for their merger, noting the need for retailers to offer expanded offerings in the face of the tech giant's purchase of Whole Foods last year. The Albertsons-Rite Aid merger would combine the former's strengths in e-commerce and fresh food with the latter's expansive pharmacy benefits.

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Alayna Treene
4 mins ago - Politics & Policy

Scoop: Trump, Pence criticize U.S. Chamber CEO in tense Friday call

Pence and Trump in the Oval Office Sept. 4. Photo: Anna Moneymaker-Pool/Getty Images

President Trump and Vice President Mike Pence criticized the CEO of the U.S. Chamber of Commerce during a bitter phone call Friday morning, venting their frustrations over its recent endorsement of nearly two dozen vulnerable House Democratic freshmen, two sources familiar with the call tell Axios.

Why it matters: Trump’s re-election is based largely on the idea that he has been a good steward of the economy, and if one of the largest business groups is seen as opposing him, it could undermine that case.

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Axios
Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 30,297,368 — Total deaths: 948,058— Total recoveries: 20,626,074 — Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 6,696,621 — Total deaths: 198,114 — Total recoveries: 2,540,334 — Total tests: 91,546,598 — Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: Massive USPS face mask operation called off — The risks of moving too fast on a vaccine.
  5. Business: Unemployment drop-off reverses course — 1 million mortgage-holders fall through safety net — How the pandemic has deepened Boeing's 737 MAX crunch.
  6. Education: At least 42% of school employees are vulnerable.
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Joann Muller, author of Navigate
3 hours ago - Economy & Business

Anxious days for airline workers as mass layoffs loom

Sara Nelson, president of the Association of Flight Attendants, during a Sept. 9 protest outside the Capitol. Photo: Alex Wong/Getty Images

The clock is ticking for tens of thousands of anxious airline employees, who face mass reductions when the government's current payroll support program expires on Sept. 30.

Where it stands: Airline CEOs met Thursday with White House Chief of Staff Mark Meadows, who said President Trump would support an additional $25 billion from Congress to extend the current aid package through next March.

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