- The Conference Board, a New York-based private research group, says that its index of leading economic indicators dropped 0.1 percent in September, to 115.6 on the index, following a 0.3 percent drop during August.
While this is the fourth straight month of declines, the Wall Street Journal reports that economists are saying that because the drops have been so small, the current environment does not qualify as a recession (which normally is three straight periods of decline).
- Published reports say that the Bronfman-Alon Group, an Israel-based firm, wants to purchase a US supermarket chain because there are no suitable growth options left for the company in Israel.
Alon USA already is in the c-store business in the US, and owns the franchise rights for 7-Eleven in southwest Texas and New Mexico.
- Ahold has announced that it has agreed to a price that is the equivalent of about $1 billion (US) to acquire Canica AS’s 20 percent stake in Scandinavian joint venture ICA AB. Ahold had been contractually obligated to buy the shares, but the two companies have been arguing about price since last July.