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Walgreens has finally figured out a way to buy Rite Aid -- or about half of it, at least.The pharmacy giant said Tuesday that federal regulators have accepted its .4 billion deal to buy 1,932 Rite Aid stores. That will leave Rite Aid with about 2,600 stores once the deal is finished.The purchase marks the end of a two-years-long fight for Walgreens, which initially tried to buy Rite Aid outright for billion in October 2015.The merger agreement faced intense scrutiny from the start, since it would have left the United States with just two major pharmacy chains: Walgreens and CVS.The agreement was reworked several times over the past few years as Walgreens scaled back the number of stores it intended to purchase. In June, the company tried for a .2 billion deal that would have handed it 2,186 Rite Aid stores.Walgreens recently revised its deal again, said company spokesman Michael Polzin. Polzin said that the waiting period for review by the Federal Trade Commission expired last night at midnight, effectively giving Walgreens the regulatory clearance it needs to move forward.The Rite Aid pharmacies that Walgreens plans to buy will eventually be rebranded as Walgreens stores. But it won't happen all at once.Polzin said the company will begin buying Rite Aids in October, adding that it expects to finish doing so in the spring of 2018.Rite Aid stock was down nearly 7% in premarket trading Tuesday morning -- a change from Monday, when it rose as investors hoped for a better deal.Walgreens stock, meanwhile, was up 2% Tuesday before open. 1572
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 — Congress is defying President Donald Trump on removing Confederate symbolism from the military.The Senate on Thursday joined the House in approving legislation that would rename bases like Fort Bragg and Fort Benning that are named for Confederate officers.The Senate vote was an overwhelming 86-14 vote. Earlier this week, the House passed the measure with a 295-125 vote.The Senate passage opens the door for the Senate and House Armed Services Committees to open negotiations for a final version of the bill. Once that bill is passed, it would head to Trump's desk.Even if Trump were to veto the bill, Thursday's vote indicates that Congress could override it and make the bill a law.Trump has said he favors that military bases keep the names of Confederate military leaders, despite efforts from Pentagon officials to change the name. Trump says renaming the bases would be re-writing history; critics say it's inappropriate for U.S. military bases to bear the names of those who fought on the side of slavery and against the Union.There are currently 10 Army bases throughout the U.S. named after Confederate generals, as well as a number of smaller military institutions with such names.The legislation would approve 1 billion in spending for the military and also includes a 3% pay raise for the troops. 1335
WARNER SPRINGS, Calif. (KGTV) -- A famous balloonist died Tuesday from injuries sustained in a balloon accident near Warner Springs over the weekend.According to his website, Julian Nott died after "multiple injuries from an extraordinary and unforeseeable accident." According to the site, Nott was flying an experimental balloon he invented that was designed to test high altitude technology.Nott was known as the founder of the modern ballooning movement. He broke 79 world ballooning records and 96 British records, including exceeding 55,000 feet in a hot air balloon.The accident happened Sunday around 12:40 p.m. in a remote area near Warner Springs a mile off Chihuahua Valley Road.According to the San Diego County Sheriff’s Department, the balloon experienced a hard landing.A witness said the capsule detached from the balloon and rolled several hundred feet down the hillside.The two victims in the balloon at the time of the landing reportedly suffered back injuries. Both victims had to be airlifted out of the area.At this time, the condition of the other victim is unknown. 1097
VISTA (CNS) - A former speech therapist at Rancho Buena Vista High School, who allegedly threatened co-workers while working at the northern San Diego County campus, pleaded not guilty Tuesday to charges of burglary, making criminal threats and vandalism.Arturo Avina, 33, was taken into custody by a SWAT team last Friday morning in connection with a series of menacing messages he allegedly sent to co-workers. The victims began receiving the messages last month, according to sheriff's Sgt. Shane Watts.Authorities released no details on the nature of the purported threats and did not specify the number of alleged victims. However, no students were involved in the threats, according to Lisa Contreras, director of communications for Vista Unified School District.RELATED: Former speech therapist at Rancho Buena Vista High School arrested``At no time were there any students who were in danger,'' Contreras said. Avina, who faces three years and eight months in prison if convicted, worked for the school district from August 2017 until January of this year, Contreras said.He's being held in lieu of 0,000 bail and is due back in court March 20 for a readiness conference. 1190