The owner of Stop & Shop and Giant will tie up with the parent company of Food Lion, creating a $29 billion grocer that will be in a stronger position to compete with Wal-Mart and other discount retailers.
The U.S. economy contracted in the first three months of the year, just not as much as previously estimated. More recent data show that the weakness was largely temporary, with a rebound in the works for the April-June quarter.
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