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Walmart is retreating from Europe, merging its UK supermarket business Asda with bigger rival Sainsbury's.In return, Walmart will receive ￡2.97 billion (.1 billion) in cash and a 42% stake in the combined business, the companies said in a statement on Monday.The deal values Asda at ￡7.3 billion ( billion), and creates a mega retailer with 2,800 stores and combined sales of roughly ￡51 billion ( billion).The sale of Asda follows Walmart's exit from Germany, its other major outpost in Europe, in 2006.Walmart could use the cash to fuel its expansion in other international markets. The US retailer is reportedly close to agreeing to invest in India's Flipkart, an online retailer that has also attracted attention from Amazon."This proposed merger represents a unique and bold opportunity, consistent with our strategy of looking for new ways to drive international growth," Judith McKenna, the CEO of Walmart International, said in a statement.The combination with Asda will give Sainsbury's more firepower as it confronts digital competitors including Amazon and aggressive discount chains, such as Germany's Lidl and Aldi.It also creates a new UK market leader: Sainsbury's and Asda together control over 31% of the grocery market, according to Kantar Worldpanel. The current industry front runner, Tesco, has nearly 28%.Regulators will have a close look at the deal, but the geographical distribution of Sainsbury and Asda stores could limit concerns over reduced competition.Upmarket Sainsbury's is strong in southern England, while Asda, which tends to have larger stores and lower prices, is well represented in the north. Together, the supermarket chains employ 330,000 people.The UK Competition and Markets Authority last year approved Tesco's takeover of wholesaler Booker, saying the deal would not reduce competition in the sector, which is known for its razor-thin margins and frequent price wars. 1929

WASHINGTON (AP) — A statue of Confederate Gen. Robert E. Lee that represented Virginia in the U.S. Capitol has been removed.Virginia Gov. Ralph Northam said in a statement that workers removed the statue from the National Statuary Hall Collection early Monday.“The Confederacy is a symbol of Virginia’s racist and divisive history, and it is past time we tell our story with images of perseverance, diversity, and inclusion,” said Northam.Each state is entitled to display two statues in the collection. Lee’s statue had stood with George Washington’s statue since 1909 as Virginia’s representatives in the Capitol.The Lee statue had been one among 13 located in the Crypt of the Capitol, representing the 13 original colonies.Northam had requested its removal and a state commission has recommended replacing Lee’s statue with a likeness of Barbara Johns.Johns was an American civil rights leader who protested poor conditions at her all-Black high school in the town of Farmville in 1951. Her court case became part of a landmark U.S. Supreme Court decision that struck down racial segregation in public schools.Virginia’s General Assembly must approve the replacement before a sculptor can be commissioned for the new statue. If approved, Johns would stand alongside Washington, and would be the only teenager represented in the collection.“I look forward to seeing a trailblazing young woman of color represent Virginia in the U.S. Capitol, where visitors will learn about Barbara Johns’ contributions to America and be empowered to create positive change in their communities just like she did,” said the governor.U.S. Sen. Tim Kaine of Virginia tweeted out a video of the Lee statue being taken down. 4:02 am. 12/21/20. Crypt of the US Capitol. pic.twitter.com/2ttGecsj5B— Tim Kaine (@timkaine) December 21, 2020 1827

WASHINGTON — After months of on-again, and off-again negotiations, a bipartisan economic stimulus deal appears to be on the horizon. While nothing is official, optimism swept Capitol Hill Wednesday that something could be passed by the end of the week. The bill would not only provide economic relief but also keep the government open through 2021. Funding for the federal government officially runs out Friday night at midnight. STIMULUS CHECKS INCLUDED The biggest news is that stimulus checks appear to be included in the bill. While nothing is confirmed, Republican Senator John Thune of South Dakota told reporters that the checks would be around 0-0 per person, which is about half as much as last time. Whether or not you are eligible for a stimulus check will likely depend on your income, just like last time. WHEN COULD YOU GET IT? If Congress is able to pass a bill by Friday night, checks could theoretically be deposited into millions of accounts by New Year's Eve. That's because unlike last time, the IRS has already built the computer program to distribute checks and staffers have experience. This is what Treasury Secretary Steven Mnuchin said back in August about how quickly he could send out the checks. "I can have them out immediately," Mnuchin said. "If I could get that passed tomorrow. I could start printing them the following week," Mnuchin told reporters at the White House in August. "I can get out 50 million payments immediately," Mnuchin added. Just like last time, if the federal government does not have your bank information on file, debit cards and paper checks would likely take several more weeks. 1651

WASHINGTON — As COVID-19 cases skyrocketed before the Thanksgiving holiday weekend, the coordinator of the White House coronavirus response warned Americans to “be vigilant” and to limit celebrations to “your immediate household.” For many Americans that guidance has been difficult to abide, including for Dr. Deborah Birx herself. The day after Thanksgiving, Birx traveled to one of her vacation properties on Fenwick Island in Delaware. She was accompanied by three generations of her family from two households. Kathleen Flynn, whose brother is married to Birx's daughter, told the Associated Press she came forward about the travel out of concern for her own parents, and acknowledged there was family friction over the incident. Birx confirmed to the Associated Press she traveled to the Delaware property, but declined to be interviewed for the report. The Centers for Disease Control and Prevention has asked Americans not to travel over the holidays and discourages indoor activity involving members of different households.Birx joins a growing list of high-profile leaders on the federal and state level who have been criticized for appearing to disregard their own rules and warnings for slowing the spread of the coronavirus. Most notably, California Governor Gavin Newsom, who is facing a recall effort in his state after he was seen inside a posh restaurant after telling people to avoid socializing. 1423

WASHINGTON — Congressional leaders appear to be on the brink of a COVID-19 economic aid package, but there's no deal yet. As negotiators went home from the Capitol Wednesday, agreement seemed near on legislation that would extend help to individuals and businesses and ship coronavirus vaccines to millions. Negotiators are working on a 0 billion package that would revive subsidies for businesses hit hard by the pandemic, help distribute new vaccines, fund schools and renew soon-to-expire jobless benefits. They're also looking to include new direct payments of about 0 to most Americans. There's intense pressure for a deal. Unemployment benefits run out Dec. 26 for more than 10 million people. Many businesses are barely hanging on after nine months of the pandemic. 786

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