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Top Business News Stories of the Day 29th Feb 2024

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Today’s top business news stories cover a variety of significant events in the business world:

  1. FTC Sues to Block Kroger, Albertsons Merger: The Federal Trade Commission, in conjunction with a group of attorneys general, has filed a lawsuit to prevent the merger between Kroger and Albertsons. Concerns about potential increases in grocery prices and adverse effects on workers are cited as reasons for the legal action.
  2. Broadcom’s Sale of Remote Access Unit: Broadcom has strategically sold its remote access unit, generating $4 billion. Investors and analysts are closely monitoring this move for its implications.
  3. Uber Joins the Dow Transports: Uber’s inclusion in the Dow Transports index has sparked discussions about its significance and impact within the industry.
  4. Insider Trading Scheme: A personal pilot for billionaire Joe Lewis has pleaded guilty to participating in an insider trading scheme, following Lewis’ admission of guilt to securities fraud charges related to the same scheme.
  5. Stock Movements: Stocks such as Berkshire Hathaway, R1 RCM, Freshpet, and Amer Sports are experiencing significant fluctuations in midday trading sessions.
  6. Analyst Calls: Analysts have made notable recommendations, including an increase in the price target for Eli Lilly and a downgrade for a gas stock.
  7. Global Updates: Discussions include potential European ground troop deployments in Ukraine, Russia’s negotiations with African governments, and other global developments.
  8. Market Activities: Headlines include companies like MicroStrategy purchasing bitcoin, BYD launching an electric supercar, and Berkshire Hathaway’s shares surging after reporting profit gains.

These updates underscore the dynamic nature of the business world, with mergers, stock movements, legal actions, and global economic considerations shaping today’s business landscape.

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