Iran is pushing boundaries amid rising tensions in the Gulf, but President Trump has so far not been "compelled" to retaliate militarily, analysts say.World Politicsread more
The U.K. will find out who its next prime minister will be on Tuesday.Europe Politicsread more
UBS announced a net profit of $1.4 billion for the second quarter of 2019.Earningsread more
Japan and South Korea are part of a complex and tightly linked supply chain that produces electronic goods such as smartphones and laptops.Technologyread more
Michael Kugelman from the U.S.-based Wilson Center says other issues take precedence in the bilateral dialogue between the United States and Pakistan — namely, Afghanistan and...Asia Politicsread more
Beijing says it can still meet its 2019 growth target of between 6% and 6.5% and continues to roll out stimulus measures to prop up activity. China set a 2019 industrial...China Economyread more
A different oil pricing dynamic has been evolving with new supply calculations based on the U.S. as the world's largest producer.Market Insiderread more
The Massachusetts senator's alarm-sounding on consumer debt neglects to measure it against the growth in the economy and the ability to pay.Economyread more
Stocks in Asia Pacific edged up on Tuesday, as investors await closely-watched central bank meetings in the coming days.Asia Marketsread more
More than half of Venezuela's 23 states lost power on Monday, according to Reuters witnesses and reports on social media, a blackout the government blamed on an...World Politicsread more
Equifax will give consumers a range of options for monitoring their credit or making claims of fraud or data misuse, part of a $425 million restitution fund.Technologyread more
(Adds details from report, share movement of grocers)
March 1 (Reuters) - Amazon.com Inc plans to open dozens of grocery stores across the United States as it looks to expand in the food business, the Wall Street Journal reported on Friday, citing people familiar with the matter.
Amazon is also exploring an acquisition strategy to strengthen its new supermarket brand by purchasing regional grocery chains, which have at least a dozen stores under operation, according to the report.
The company, which bought the upscale Whole Foods chain for $13.7 billion in 2017, is now in talks to open grocery stores in shopping centers in San Francisco, Seattle, Chicago, Washington, D.C., and Philadelphia, the WSJ report said.
The online retail giant plans to open its first store in Los Angeles as early as the end of the year, and has already signed leases for at least two other grocery locations with openings planned for early next year, the Journal reported.
Shares of grocers such as Costco and Walmart were down about 1 percent each on the news, while Kroger traded down nearly 4 percent. Amazon was up 1.4 percent.
Amazon declined to comment.
The new stores are not intended to compete directly with Whole Foods and would offer a variety of products compared to the more upscale chain, according to the report. (Reporting by Arjun Panchadar in Bengaluru; Editing by Sai Sachin Ravikumar and James Emmanuel)