Walgreens has approval to buy Rite Aid

Walgreens has approval to buy Rite Aid. They will buy 1,932 Rite Aid stores for $4.38 billion. With the addition of the Rite Aid stores, Walgreens will have about 10,000 locations in the U.S.. Integration will begin in October and be completed in the spring of 2018. The remaining 1,200 Rite Aid stores will go…

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Amazon will open another fulfillment center

Amazon will open another fulfillment center in North Portland in 2018, creating 1,000 full-time jobs. That is in addition to the opening of fulfillment centers in Troutdale and Salem next year along with another 2,500 jobs. The Portland facility will be 918,400-square-feet. (OregonLive) NORPAC Foods officially notified Oregon employment officials the company will close its…

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Gun stocks rose yesterday

Toys ‘R’ Us, has filed for Chapter 11 bankruptcy protection. They have 1,600 stores and 64,000 employees. Stores and online sites remain open. The company has debt from a $6.6 billion buyout in 2005 by private equity firms. It’s the second-largest retail bankruptcy, trailing the filing in 2002 by Kmart. (Reuters) The Commerce Department says…

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The S&P 500 five new highs

The Fed’s policy making arm, the FOMC, will starts its sixth of eight meetings today. We do not expect a rate hike, but do expect to see the Fed announce the start of its balance sheet normalization program. Markets will be parsing the Fed statement, economic projections, and press conference comments for any sign of…

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98 days till Christmas

98 days till Christmas and Macy’s will increase by 20% the number of workers it hires during the holiday shopping season to fill online orders. They will hire 18,000 holiday workers to fulfill online orders, an increase of about 3,000 from last year. Total hiring for the holiday season will be 83,000 workers. Target said…

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Consumer prices rose

The Labor Department says consumer prices rose 0.4% in August. These gains are the largest in seven months and CPI is up 1.9% year-on-year. Gasoline prices surged 6.3%, the biggest gain since January. Food prices rose 0.1% and the cost of rental accommodation surged 0.4%. . The Census Bureau says Oregon’s median household income is…

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