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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
VISTA (CNS) - A man who fired a BB gun at an Oceanside business that had put up a sign supporting the Black Lives Matter movement pleaded guilty today to charges of violating civil rights by damaging property and vandalism.Steve Soto, 23, of Carlsbad, is slated to be sentenced Sept. 28 to one year in county jail stemming from the June 4 shooting that shattered a window at Bliss Tea & Treats.Oceanside police Sgt. John McKean said Soto drove by the business, then fired a BB gun out the window of his vehicle.The business had a sign in the window at the time that read: "Black owned, we stand with you," McKean said.The sergeant said surveillance video helped detectives identify the vehicle used in the crime, leading to Soto's arrest on July 15.He also pleaded guilty to an assault charge related to a May 28 incident involving a male victim and a misdemeanor vandalism count related to an unspecified July 4 incident.He was facing a hate crime allegation stemming from the Bliss Tea & Treats shooting and other misdemeanor charges of discharging a BB gun in a grossly negligent manner stemming from unspecified incidents occurring in June and July, but those counts were dismissed as part of the plea agreement. 1232

WASHINGTON — Ivanka Trump has been deposed by attorneys alleging that President Donald Trump’s 2017 inauguration committee misused donor funds. A new court filing, first reported by CNN Wednesday, notes that Ivanka Trump, the president’s oldest daughter and a senior White House adviser, was interviewed Tuesday by attorneys from the Washington, D.C., attorney general’s office. The office has filed a lawsuit alleging waste of the nonprofit’s funds, accusing the committee of making more than million in improper payments to the president’s Washington, D.C., hotel for event space during the week of the inauguration in 2017.In a Thursday morning tweet, Trump confirmed that she had met with the D.C. attorney general in connection with the investigation. She said she shared an email with investigators in which she asked staff at the hotel to charge a "fair market rate" for hotel rooms."This 'inquiry' is another politically motivated demonstration of vindictiveness & waste of taxpayer dollars," Trump said. 1027
WASHINGTON (AP) — President Donald Trump has signed a bill that makes certain acts of animal cruelty a federal felony, saying it’s important for the nation to combat “heinous and sadistic acts of cruelty.”The Preventing Animal Cruelty and Torture Act prohibits extreme acts of cruelty when they occur in interstate commerce or on federal property.The legislation expands on a 2010 law that targeted videos depicting the crushing or torturing of animals, but that did not prohibit the underlying conduct. Under the new law, the underlying acts of cruelty would be a federal crime.An array of animal rights groups attended a signing ceremony Monday in the Oval Office. Holly Gann of the Animal Wellness Foundation says the legislation will “better protect some of the most vulnerable among us.” 800
WASHINGTON (AP) — A federal judge has ruled that former national security adviser John Bolton can move forward in publishing his tell-all book. The Trump administration had tried to block the release because of concerns that classified information could be exposed. The decision from U.S. District Judge Royce Lamberth is a victory for Bolton in a court case that involved core First Amendment and national security concerns. The ruling means a broader election-year readership and distribution for a memoir that paints an unflattering portrait of President Donald Trump's foreign policy decision-making during the turbulent year-and-a-half that Bolton spent in the White House. 686
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