Cerberus Capital Management LP’s $9 billion deal to merge Safeway Inc. with Albertsons is a bet that a larger supermarket chain can better fend off an attack on the grocery business by big-box stores and online retailers.
California Governor Jerry Brown, who decries a widening gulf between rich and poor, is campaigning for a fourth and final term presiding over a state that’s outpacing the U.S. in producing both millionaires and food-stamp recipients.
Safeway Inc., the second-largest U.S. grocery-store chain, agreed to be bought by Cerberus Capital Management LP’s Albertsons in a deal valued at about $9.2 billion, creating a bigger competitor to Kroger Co. and big-box rivals.
Arizona Governor Jan Brewer vetoed a bill that would have allowed business owners to refuse service based on their own religious beliefs, rejecting a measure opponents said would allow discrimination against gays.
Companies from Apple Inc. to American Airlines Group Inc. called on Arizona Governor Jan Brewer to veto a bill permitting businesses to refuse service on religious grounds, a measure that opponents say is meant to allow discrimination against gays.
Health insurers participating in the Medicare Advantage program for elderly Americans, including Humana Inc. and UnitedHealth Group Inc., face a base payment cut of about 3.55 percent next year, the U.S. government said.
Hedge-fund manager David Einhorn’s Greenlight Capital Inc. asked a court to order the website Seeking Alpha to identify a contributor who allegedly disclosed the fund’s stake in Micron Technology Inc. before it was made public.