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AM Business Notebook

>>Kroger Sale

Kroger has announced that, as part of its merger with Albertsons, the companies will sell 413 stores to C&S Wholesale Grocers for one-point-nine billion dollars.   The sale also includes other brand names in various regions … Fred Meyer stores are not currently part of the sale.  In Oregon, 49 Albertsons and QFC stores will be sold.  The stores that Kroger keeps will be rebranded as Kroger or Albertsons.  If it's necessary to get government approval, Kroger will sell C&S an additional 237 stores in certain parts of the country.  

 

>>J.M. Smucker Buying Hostess Brands For $5.6 Billion

(Orrville, OH) -- Jelly maker J.M Smucker is buying snack brand Hostess in a multi-billion dollar deal. The maker of the popular Smucker's jelly announced Monday it will buy the Twinkies-maker for five-point-six-billion dollars. Smucker said the deal is a compelling expansion of its family of brands. Included in the purchase are popular Hostess brands like CupCakes, DingDongs, Zingers and HoHos.

 

>>Senate To Start Voting On Funding Bills

(Washington, DC) -- The Senate is expected to start moving a package of government funding bills this week. This comes as Congress is racing to avoid a shutdown at the end of this month. Senate Majority Leader Chuck Schumer says he expects the first votes later today. The top Democrat has urged Republicans in the House to "follow the Senate's lead" and work with Democrats. A group of House conservatives say they'll oppose any funding bill that does not include conservative policy priorities on spending levels, the southern border and the Justice Department.

 

>>Key Economic Reports On The Horizon

(Undated) -- Coming up in the business week ahead, there are no major economic reports scheduled for release today or tomorrow. Wednesday however will bring the consumer price index. The CPI numbers will help guide whether the Federal Reserve moves to raise interest rates again in November. Weekly jobless claims are due on Thursday, with a slight uptick in the forecast. The producer price index and retail sales data will also be out the same day. Consumer sentiment caps the week on Friday.

 

>>Apple Launch Event Tuesday

(Cupertino, CA) -- Apple is set to unveil the latest iPhone Tuesday at the company's annual launch event. They're calling the event "Wanderlust" and it's expected to show off the iPhone 15 along with other new Apple products, including the latest Apple Watch and AirPods. The event is set for 10 a.m. Pacific time and will be streamed on YouTube and the AppleTV app.

 

>>"Nun II" Tops "Equalizer 3" At Weekend Box Office

(Hollywood, CA) -- Moviegoers are taking up a new habit as "The Nun 2" tops this weekend's box office. The latest in Warner Brothers' "Conjuring" series took in an estimated 32-point-six-million-dollars in its opening weekend. Last week's box office champion "Equalizer 3" earned just over 12-million-dollars for second place. Another sequel, "My Big Fat Greek Wedding 3," debuted in third-place, while the Indian Hindi-language film "Jawan" had a surprising fourth-place finish in its opening weekend. "Barbie" placed fifth, marking the first time in its eight-week run the summer blockbuster has finished outside the top two.

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