Kroger and Albertsons defend merger plan in federal court against US regulators' objections

Supermarket chain Albertsons told a federal judge Monday that it might have to lay off workers, close stores and even exit some markets if its planned merger with Kroger isn't allowed to proceed. In the three-week hearing that opened Monday, the FTC is seeking a preliminary injunction that would block the merger while its complaint goes before an in-house administrative law judge. Musser said Kroger and Albertsons currently compete in 22 states, closely matching each other on price, quality, private label products and services like store pickup.

Indonesian Palm Oil Output Set to Fall on Dry Weather, Old Trees

(Bloomberg) -- The outlook for Indonesia’s palm oil harvest has dimmed as dry weather and aging trees crimp production in the world’s top grower, which will likely tighten global supply and keep prices elevated.Most Read from BloombergSydney Central Train Station Is Now an Architectural DestinationNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityWith

Trump and Harris are both threatening more inflation

Stock market today: Dow closes at record high while S&P 500, Nasdaq slide as tech lags

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Fed most likely to cut rates by quarter percentage point next month, Daly says

San Francisco Federal Reserve President Mary Daly on Monday said "the time is upon us" to cut interest rates, likely starting with a quarter-percentage point reduction in borrowing costs. Asked if there is anything that could derail a rate cut at the U.S. central bank's Sept. 17-18 policy meeting, Daly told Bloomberg TV that it "would be hard to imagine at this point." She said the "most likely" path ahead is for inflation to continue to slow gradually and for the labor market to add jobs at a "steady, sustainable" pace - and if that projection plays out, "adjusting policy at the regular, normal cadence seems reasonable."

Fed’s Daly Agrees With Powell View That It’s Time to Cut Rates

(Bloomberg) -- Federal Reserve Bank of San Francisco President Mary Daly said she believes it’s appropriate for the US central bank to begin cutting interest rates.Most Read from BloombergSydney Central Train Station Is Now an Architectural DestinationNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityWith Housing Costs High, Democrats Hone YIMBY Messag

Nvidia to report Q2 earnings Wednesday in major test for AI trade

Investors are betting the Powell pivot will relieve regional bank woes