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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, Calif. (KGTV) -- After a trip to visit their grandma in Ohio, eight year old Lilly and 12 year old Zachary were driving back to California with their mom and grandma when a wrong-way driver hit their car head-on in Oklahoma, killing all four of them. The wrong-way driver, identified by Oklahoma authorities as 33-year-old Ashley Louise Ricks, survived the crash.Monday, Oklahoma authorities gave an update, saying witnesses smelled alcohol at the scene of the crash. Witnesses and 911 calls also reveal the woman was driving at a high rate of speed and in the wrong direction for at least nine miles before the fatal crash occurred. Authorities said they’re currently investigating her medical history, driver history and taking blood samples before making any charges.The family was driving back to Vista, near San Diego, so Lilly could make it back home in time for school to resume. A GoFundMe created by a family friend shows the kids called their dad and stepmom every day while on vacation, telling them about the fun they’d had on their trip.Sam Homant, the kids’ dad, and their stepmom Melissa Starnes said the last time they talked to their son, it was the night of the crash.“He was excited to come home. We had just got him a brand new bed, a brand new bed that he was just so excited for, this pillow top mattress and he was so excited. And that was the last thing that we said to him,” said Starnes.They described the kids as family oriented and special. Zachary had a creative and kind heart.“He could take Legos and create anything out of Legos. He loved to build, just a smart smart little boy. Very creative. Wanted to be an architect. His imagination was off the rack,” they said.Lilly had similar passions to many little girls her age, but also loved to ride her dad’s motorcycle with him.“She loved makeup and dancing and her dolls. She loved to draw,” they said.The GoFundMe will help pay to bring the kids home. As they grieve, these parents want answers.“They had such a bright future and it’s been taken away by this lady and we don’t know why. We want to know why was she on that road on the wrong side,” said Starnes. 2159

WASHINGTON — The number of laid-off Americans applying for unemployment benefits fell to roughly 880,000 last week, a sign of possible improvement but evidence that the viral pandemic keeps forcing many businesses to slash jobs. The latest figures, released Thursday by the Labor Department, suggest that nearly six months after the eruption of the coronavirus, the economy is still struggling to sustain a recovery and rebuild a job market that was devastated by the recession. All told, the government said that 13.3 million people are continuing to receive traditional jobless benefits, up from 1.7 million a year ago. 629
WARREN, Mich. – A suspect is in custody for the execution-style murders of three people in Michigan, including a 6-year-old boy, his father and the dad’s fiancée.Last Friday, a person of interest in the heinous murder of the child and 28-year-old woman was being questioned by officers, according to Warren Police Commissioner Bill Dwyer.Warren police say they will present their case to the Macomb County Prosecutor's Office Tuesday morning.According to Dwyer, officers did a wellness check at an Otis Avenue home in Warren around 10 a.m. on Oct. 1. The front door was open, but there was no sign of a forced entry.That’s when police discovered the bodies of the boy and woman, both fatally shot execution-style in the basement, Dwyer said.Warren police are working with Detroit police after it was confirmed the 6-year-old victim was the son of a 31-year-old man whose body was found in a burned-out vehicle on Detroit’s east side. The 28-year-old woman is the girlfriend, police confirmed.According to Detroit Major Crimes Commander Eric Decker, officers responded to the vehicle fire report around 2 a.m. Further investigation revealed the vehicle was a rental car, which was then used to identify the 31-year-old victim and trace his connection to the home in Warren.The man’s initial cause of death was from a gunshot wound. The vehicle was burned after the shooting.Dwyer said the department has secured video from around the Otis Avenue neighborhood, which will be later released. Authorities have also executed a search warrant on the home and have recovered evidence to test for possible suspect identification.Federal agents are being asked to join the investigation as Warren police anticipate seeking the death penalty in the case.“When you murder an innocent 6-year-old baby, you deserve the death penalty.” Dwyer said. “It was a terrible, terrible scene. Very difficult for the officers who had to process the scene.”Right now, police say it is possible the victims knew the suspect(s), and there is a possibility the motive may be narcotics related.“Let’s bring justice to the family,” Dwyer said.This story was originally published by staff at WXYZ. 2174
WASHINGTON (AP) — America’s employers added 661,000 jobs in September, the third straight month of slower hiring and evidence from the final jobs report before the presidential election that the economic recovery has weakened. With September’s hiring gain, the economy has recovered only slightly more than half the 22 million jobs that were wiped out by the viral pandemic. The roughly 10 million jobs that remain lost exceed the number that the nation shed during the entire 2008-2009 Great Recession.The unemployment rate for September fell to 7.9%, down from 8.4% in August, the Labor Department said Friday. Since April, the jobless rate has tumbled from a peak of 14.7%.The September jobs report coincides with other data that suggests that while the economic picture may be improving, the gains have slowed since summer. The economy is under pressure from a range of threats. They include the expiration of federal aid programs that had fueled rehiring and sustained the economy — from a 0-a-week benefit for the unemployed to 0 billion in forgivable short-term loans to small businesses.Friday’s data offers voters a final look at the most important barometer of the U.S. economy before the Nov. 3 presidential election — an election whose outcome was thrown into deeper uncertainty by the announcement early Friday that President Donald Trump has tested positive for the coronavirus.The rise in confirmed viral cases that is occurring in much of the country could force new business shutdowns or discourage consumers from traveling, shopping or visiting restaurants. A recent wave of layoffs by large companies has heightened fears that the viral outbreak still poses a serious threat to the economy.Disney said this week that it’s cutting 28,000 jobs, a consequence of reduced customer traffic and capacity limits at Disney World in Florida and the ongoing closure of Disneyland in California.Allstate said it will shed 3,800 jobs, or 7.5% of its workforce. Marathon Petroleum, the Ohio refiner, is slashing 2,000 jobs. And tens of thousands of airline workers are losing their jobs this month as federal aid to the airlines expires. The airlines had been barred from cutting jobs as long as they were receiving the government assistance.While congressional negotiations, led by House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin, continue, the prospect of a major new economic aid package before the November elections is highly uncertain. 2478
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