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Courts Block $24.6B Kroger-Albertsons Deal Over Harm

Two significant court rulings have halted the proposed $24.6 billion merger between grocery giants Kroger Co. (NYSE: KR) and Albertsons (NYSE: ACI), marking a decisive victory for antitrust advocates, labor unions, and consumers. The United States’ Federal Trade Commission and a coalition of states argued that the merger would stifle competition, raise prices, and harm workers.

In Portland, Oregon, U.S. District Judge Adrienne Nelson issued a preliminary injunction against the merger, citing evidence that it would harm competition and consumers. Meanwhile, in Seattle, Washington, Judge Marshall Ferguson handed down a permanent injunction, concluding that the merger would violate antitrust laws within the state. These rulings come after months of scrutiny and a three-week evidentiary hearing.

You can read more on the matter here.

What’s going on?

• Bank of Canada Cuts Interest Rate By 50 Basis Points Again To 3.25% (theDeepDive)

• CBSA lost track of nearly 30,000 people wanted for deportation orders (TS)

• Freeland’s and Trudeau’s Offices Clash Over GST Holiday Plan (theDeepDive)

• Government misses deadline to seal cannabis possession records for thousands of Canadians (CBC)

• O’Leary Plans $70 Billion AI Data Center in Alberta (theDeepDive)

• Canada to continue to review asylum claims from Syrian refugees as European nations pause intake (Globe)

• Quebec Court Orders Indigenous Consultation for Mining Claims (theDeepDive)

• US inflation rose to 2.7% in November (FT)

• Google Says New Quantum Chip Slashes Computing Time from Eons to Minutes (theDeepDive)

• Court blocks The Onion’s attempt to acquire Infowars (FT)

• New Bank of England Policy Shields Identities of Bailed Out Financial Giants (theDeepDive)

• Russia teams up with BRICS to create AI alliance, Putin says (Reuters)

A silver revival in the Golden Triangle

The stock market and stuff

• GameStop’s Q3 2024 Profit Masks a Deeper Crisis as Sales Plunge 20% (theDeepDive)

• Kroger's $25-billion deal for grocery rival Albertsons blocked by US courts (Reuters)

• Meta Joins Tech Giants in Nuclear Power Race (theDeepDive)

• SpaceX valuation surges to $350 billion as company buys back stock (CNBC)

• Endeavour Outlines $1.5 Billion After Tax NPV For Assafou Project In PFS (theDeepDive)

In the juniors

• Lahontan Gold Releases PEA Outlining US$200 Million Net Present Value For Sante Fe Project (theDeepDive)

• Power Metals Provides Exploration Update From Its Flagship Case Lake Project (JMN)

• Plurilock Signs $1.1 Million Contract With Fortune 50 Conglomerate (theDeepDive)

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