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PSV Eindhoven mounted a stunning comeback with three late goals against Shakhtar Donetsk to give their chances of progress in the Champions League a huge boost. The Ukrainian side were on the brink of pulling off an upset of their own in the Phillips Stadium as they twice punished some sloppy PSV defending in the first half with lethal finishes by Danylo Sikan and Oleksandr Zubkov. PSV were the more enterprising side, but were unable to find a way past the colossal presence of Dmytro Riznyk in the Shakhtar goal. But they were handed a lifeline in the 70th minute when Pedro Henrique was sent off for upending Johan Bakayoko. Riznyk continued to repel the home side’s attacks until Malik Tillman stepped up to take a free-kick in the 87th minute. The American midfielder spotted the goalkeeper a fraction off his line and drove in a hard low shot that Riznyk clutched but carried over the line. Tillman’s second goal three minutes later was a gem as he picked up a loose ball five metres outside the penalty area, shifted it onto his right foot and unleashed a shot that flew past Riznyk’s outstretched right hand. With the clock ticking down on five minutes of time, substitute Ricardo Pepi squeezed the ball inside the left-hand post from Ryan Flamingo’s lay-off to break Shakhtar’s hearts and claim all three points. The result leaves PSV in 18th place in the 36-team table, four points above the cut-off point that would give them a place in the play-off round, with three matches to play in the group stage. Captain Luuk de Jong said his team-mates had dug themselves out of a hole after allowing Shakhtar to take a 2-0 lead. “We were the better team, but they had one tactic and that was the counter, while we didn’t convert enough of our chances,” he told Ziggo Sport. “After the red card we were able to come back, Malik scored two fantastic goals and Ricardo was in the right place to win the game. It was fantastic.” PSV’s next match is away to French surprise packages Brest, who are just outside the automatic qualification places in 11th spot, on December 10.Neuroendocrine Tumors Market to Showcase Rapid Growth During the Study Period (2020–2034), at a CAGR of 5.1%| DelveInsight
TOPEKA — On Nov. 19, a Republican-led interim committee of the Kansas Legislature and out-of-state deregulation lobbyists endorsed the introduction of a new bill allowing exemption of businesses from state laws, rules or regulations hindering delivery of products or services. Under the proposal, Kansas would follow Arizona, Kentucky, Utah and Missouri by creating an innovation “sandbox” for businesses across the spectrum to operate for two or more years under a lighter regulatory framework. A state agency or official would be responsible for approving applications for exemptions. Core objectives would include giving businesses more maneuvering space, attracting entrepreneurial investment and identifying regulatory barriers to profitability. “A sandbox invites the business community to the table to highlight troublesome rules and regulations, prove they’re not working as intended and, as a result, the state is better welcoming to the innovations of tomorrow,” said Rees Empey of the Utah libertarian think tank Libertas Institute. “It’s a living and breathing approach to regulatory reform that possesses safeguards to protect consumers and the environment.” Americans for Prosperity policy analyst James Czerniawski, who previously worked for Libertas Institute, said government regulations often forced businesses to fit a square peg in a round hole. “Many regulations that are currently on the books were designed decades ago, and do not necessarily account for the new and emerging industries,” he told legislators. “It is fair to ask how many companies are crushed before they even get off the ground because regulations got in the way.” Only advocates of bringing the sandbox model to Kansas offered testimony to the interim committee. During the 2024 legislative session, however, the Kansas Sierra Club and Kansas State Board of Healing Arts raised objections to the concept. ‘Closer to a solution’ In the 2024 session, the Republicans’ sandbox bill died in the Kansas House due to questions about justification, and ramifications of reform. Issues were raised about the constitutionality of a program supervised by the state’s attorney general. Objections were made by health care regulators and environmentalists. There were questions about unfairness of state government picking which businesses could sidestep regulations. “It didn’t go anywhere,” said Rep. Sean Tarwater, a Stilwell Republican who chairs the House commerce committee. “There was a lot of confusion around that bill. I feel like we’re getting much closer to a solution.” Tarwater embraced the interim House and Senate committee’s recommendation to revamp the stalled bill and press ahead in the 2025 session. Instead of an industry-specific approach tied to insurance, technology or banking, the legislation wouldn’t exclude any type of business from Kansas’ sandbox. It didn’t make sense to forbid certain businesses from applying, he said. Wichita Democratic Rep. John Carmichael, among members of the committee opposed to the sandbox, said it was alarming the Republican majority was intent on creating two classes of businesses — those with regulatory exemptions and those without. “Do you find anything objectionable that under this scheme some businesses are subject to regulation and others aren’t?” Carmichael said. “Is that a fair and level playing field?” Dane Ishihara, director of the Utah Office of Regulatory Relief, told legislators that Utah’s system generally required at least two business applicants to step forward and apply for an exemption. If there was a single applicant, he said, the state was likely to deny the application unless it was the only player in that piece of the state’s economy. The Kobach factor In 2024, the Kansas House considered a bill placing Kansas Attorney General Kris Kobach in charge of a division of regulatory overreach in which laws, regulations or rules could be suspended up to 24 months for the benefit of select businesses. The attorney general’s division also would be responsible for identifying regulations ripe for repeal by the Legislature and governor. Rep. Rui Xu, a Westwood Democrat on the interim committee, said he saw potential in state regulatory reform. However, the idea of placing Kobach in charge would alarm his constituents. “It’s harder to say, especially in my district, that ‘Oh, Kris Kobach has an agency that’ll review and he’ll make sure it’s okay.’ That’s a hard sell for my district,” Xu said. Robert Hutchison, deputy attorney general in the civil rights division of Kobach’s office, said the GOP attorney general was supportive of the deregulation initiative. He said Kobach didn’t want responsibility for the program because it could raise conflicts of interest. The attorney general’s office currently reviews about 1,000 state regulatory changes annually and provides lawyers who serve as general counsel to as many as 30 state government entities. It would be a problem for a member of Kobach’s staff to consult with a business fighting for a waiver from a state agency while another member of the attorney general’s staff represented the targeted agency. Hutchison said legislation placing the program within the attorney general would need to include “significant firewalling” provisions. At the suggestion of Wichita GOP Sen. Renee Erickson, the interim committee agreed to seek from the attorney general a nonbinding legal opinion about constitutionality of the sandbox model. She said the opinion should end speculation about the legal framework. “We’ve done a cursory review and didn’t initially identify any constitutional issues,” Hutchison said. Under last session’s bill, an 11-person advisory council would be appointed by Republican politicians to make recommendations on exemptions. That bill required Kobach to appoint the regulatory office’s director. That individual would appoint six members with business backgrounds and three from government to the council. The Kansas House and Kansas Senate leadership would fill the other two slots, leaving no voice for Democrats. Applications would be exempt from disclosure under the Kansas Open Records Act and deliberations of the advisory council would be conducted behind closed doors beyond reach of the Kansas Open Meetings Act.
The Los Angeles Dodgers may have won the World Series in 2024, but that does not mean they are content with their roster. They could look to bring in another impact bat in free agency. While making predictions for free agents this offseason, Bleacher Report's Erik Beaston predicted that the Dodgers will sign Willy Adames despite USA Today's Bob Nightengale revealing the Boston Red Sox are interested in him now as well. "It still feels like Adames is a better fit for the Dodgers given the world champs' need at the position, but the Red Sox appear determined to get free-agent signings done this year amid mounting frustration with their recent lack of success," wrote Beaston. The Boston Red Sox had not been linked to Adames earlier in the offseason, but a new report suggests they are looking to add him and move Rafael Devers from third base. "The Red Sox also have strong interest in All-Star free-agent shortstop Willy Adames, who is willing to move to third base," wrote Nightengale. "They have scheduled an upcoming meeting and have internally discussed moving Rafael Devers off third base." Adames is the best shortstop available, but moving him to third base is not out of the question. The Dodgers would not need Adames to change positions. They need a shortstop if they want Mookie Betts to play second base. The shortstop position was inconsistent, to say the least. Betts started the year there, but moved back to right field after a stint on the injured list. Adames started 161 games at shortstop last year during a career season. Spotrac projects him to sign a $152 million deal in free agency. He hit 32 home runs, tallied 112 RBIs and 21 stolen bases last year. More MLB: Dodgers All-Star could dump LA and join Braves in free agency
Jets' search for GM and coach will be assisted by former GMs Tannenbaum and SpielmanReiterates Commitment to Investing in America to Lower Grocery Prices, Raise Associate Wages, and Support Local Communities Highlights Resilience of Value Creation Model and Strong Momentum to Drive Long-term, Sustainable Growth Board of Directors Authorizes $7.5B Share Repurchase Program including $5B Accelerated Share Repurchase CINCINNATI , Dec. 11, 2024 /PRNewswire/ -- The Kroger Co. (NYSE: KR) today terminated its merger agreement with Albertsons after the U.S. District Court for the District of Oregon granted the Federal Trade Commission's request for a preliminary injunction to block the proposed merger. After reviewing options, the company determined it is no longer in its best interests to pursue the merger. "Kroger is moving forward from a position of strength. Our go-to-market strategy provides exceptional value and unique omnichannel experiences to our customers which powers our value creation model. We look forward to accelerating our flywheel to grow our alternative profit businesses and generate increased cash flows. The strength of our balance sheet and sustainability of our model allows us to pursue a variety of growth opportunities, including further investment in our store network through new stores and remodels, which will be an important part of our 8 – 11% TSR model over time," said Rodney McMullen , Kroger's Chairman and CEO. America's Grocer is Committed to Lowering Grocery Prices & Investing in Associates "Kroger has an extraordinary track record of investing in America," said McMullen. "We are at our best when we serve others – our customers, associates, and communities – and we take seriously our responsibility to provide great value by consistently lowering prices and offering more choices. When we do this, more customers shop with us and buy more groceries, which allows us to reinvest in even lower prices, a better shopping experience and higher wages. We know this model works because we've been doing it successfully for many years, and this is exactly what we will continue to do." Kroger's ongoing investments in America include: "I appreciate our associates who remained focused on taking care of our customers, communities and each other throughout the merger process," added McMullen. Share Repurchase Program Including Accelerated Share Repurchases Now that Kroger has terminated the merger agreement, the company is ready to deploy its capacity. With its strengthened balance sheet, Kroger will resume share repurchases after a more than two-year pause. Since announcing the merger, Kroger used its strong free cash flow and debt financing to build meaningful balance sheet capacity while maintaining its investment-grade rating. Kroger's Board of Directors approved a new share repurchase program authorizing the repurchase of up to $7.5 billion of common stock. The new repurchase authorization replaces Kroger's existing $1 billion authorization which was approved in September 2022 . Kroger intends to enter an accelerated share repurchase ("ASR") agreement for the repurchase of approximately $5 billion of common stock. "Our strong balance sheet and free cash flows position us to deliver on our commitment to grow the business and return capital to shareholders, maintaining capacity to invest in lower prices and higher associate wages," McMullen said. Kroger expects to continue to generate strong free cash flow and remains committed to its capital allocation priorities including maintaining its current investment grade debt rating, investing in the business to drive long-term sustainable net earnings growth, and returning excess free cash flow to shareholders via share repurchases and a growing dividend over time, subject to board approval. Looking forward, Kroger plans to host an Investor Day event in late spring of 2025 to share an update on its strategic priorities, future growth prospects and long-term financial outlook. Merger Debt Redemption In connection with the termination of the merger agreement, Kroger will begin the process of redeeming the $4.7 billion of its senior notes issued on August 27, 2024 , that include a special mandatory redemption provision in accordance with their terms. The notes will be redeemed at a redemption price equal to 101% of their principal amount, plus accrued and unpaid interest to, but excluding, the special mandatory redemption date. Termination of Exchange Offers In connection with the termination of the merger agreement, Kroger has also elected to terminate its previously announced offers to exchange (collectively, the "Exchange Offers") any and all outstanding notes (the "ACI Notes") issued by Albertsons Companies, Inc., New Albertsons, L.P., Safeway Inc., Albertson's LLC, Albertsons Safeway LLC and American Stores Company, LLC (collectively, the "ACI Issuing Entities"), for up to $7,441,608,000 aggregate principal amount of new notes to be issued by Kroger and cash. Kroger has also elected to terminate the related solicitation of consents (the "Consent Solicitation" and, together with the Exchange Offer, the "Exchange Offer and Consent Solicitation") on behalf of the ACI Issuing Entities to adopt certain proposed amendments to the indentures governing the ACI Notes (the "ACI Indentures"). As a result of the Exchange Offer being terminated, the total consideration, including any consent fee, will not be paid or become payable to holders of the ACI Notes who have validly tendered and not validly withdrawn their ACI Notes for exchange in the Exchange Offer, and the ACI Notes validly tendered and not validly withdrawn for exchange pursuant to the Exchange Offer will be promptly returned to the tendering holders. As a result of the Consent Solicitation being terminated, the proposed amendments to the ACI Indentures and the supplemental indentures previously entered into reflecting such proposed amendments will not become operative. About the Exchange Offers Global Bondholder Services Corporation served as exchange agent and information agent for the now terminated Exchange Offer and Consent Solicitation. You should direct questions and requests for assistance to Global Bondholder Services Corporation at (855) 654-2015 (toll-free) or (212) 430-3774 (banks and brokers), or by email at contact@gbsc-usa.com . About Kroger At The Kroger Co. (NYSE: KR), we are dedicated to our Purpose: to Feed the Human SpiritTM. We are, across our family of companies nearly 414,000 associates who serve over eleven million customers daily through a seamless digital shopping experience and retail food stores under a variety of banner names , serving America through food inspiration and uplift, and creating #ZeroHungerZeroWaste communities. To learn more about us, visit our newsroom and investor relations site. Forward Looking Statements This press release contains certain statements that constitute "forward-looking statements" about Kroger's financial position and the future performance of the company. These statements are based on management's assumptions and beliefs in light of the information currently available to it. Such statements are indicated by words or phrases such as "achieve," "committed," "confidence," "continue," "deliver," "expect," "future," "guidance," "model," "outlook," "strategy," "target," "trends," "well-positioned," and variations of such words and similar phrases. Various uncertainties and other factors could cause actual results to differ materially from those contained in the forward-looking statements. These include the specific risk factors identified in "Risk Factors" in our annual report on Form 10-K for our last fiscal year and any subsequent filings, as well as the following: Kroger's ability to achieve sales, earnings, incremental FIFO operating profit, and adjusted free cash flow goals may be affected by: the termination of the merger agreement and our proposed transaction with Albertsons and related divestiture plan; labor negotiations; potential work stoppages; changes in the unemployment rate; pressures in the labor market; changes in government-funded benefit programs; changes in the types and numbers of businesses that compete with Kroger; pricing and promotional activities of existing and new competitors, and the aggressiveness of that competition; Kroger's response to these actions; the state of the economy, including interest rates, the inflationary, disinflationary and/or deflationary trends and such trends in certain commodities, products and/or operating costs; the geopolitical environment including wars and conflicts; unstable political situations and social unrest; changes in tariffs; the effect that fuel costs have on consumer spending; volatility of fuel margins; manufacturing commodity costs; supply constraints; diesel fuel costs related to Kroger's logistics operations; trends in consumer spending; the extent to which Kroger's customers exercise caution in their purchasing in response to economic conditions; the uncertainty of economic growth or recession; stock repurchases; changes in the regulatory environment in which Kroger operates, along with changes in federal policy and at regulatory agencies; Kroger's ability to retain pharmacy sales from third party payors; consolidation in the healthcare industry, including pharmacy benefit managers; Kroger's ability to negotiate modifications to multi-employer pension plans; natural disasters or adverse weather conditions; the effect of public health crises or other significant catastrophic events; the potential costs and risks associated with potential cyber-attacks or data security breaches; the success of Kroger's future growth plans; the ability to execute our growth strategy and value creation model, including continued cost savings, growth of our alternative profit businesses, and our ability to better serve our customers and to generate customer loyalty and sustainable growth through our strategic pillars of fresh, our brands, personalization, and seamless; the successful integration of merged companies and new strategic collaborations; and the risks relating to or arising from our proposed nationwide opioid litigation settlement, including our ability to finalize and effectuate the settlement, the scope and coverage of the ultimate settlement and the expected financial or other impacts that could result from the settlement. Our ability to achieve these goals may also be affected by our ability to manage the factors identified above. Our ability to execute our financial strategy may be affected by our ability to generate cash flow. Kroger assumes no obligation to update the information contained herein unless required by applicable law. Please refer to Kroger's reports and filings with the Securities and Exchange Commission for a further discussion of these risks and uncertainties. View original content to download multimedia: https://www.prnewswire.com/news-releases/kroger-reiterates-its-commitment-to-lower-prices-and-initiates-new-7-5b-share-buyback-program-302329493.html SOURCE The Kroger Co. Stay Informed: Subscribe to Our Newsletter Today
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