TOP NEWS
* Amazon.com Inc. signed an agreement to acquire an approximately 3.58% indirect stake in Indian retail company Future Retail Ltd., through its deal to buy a 49% stake in loyalty cards and coupons distributor Future Coupons Ltd. Amazon also has been granted a call option, which allows the e-commerce company to acquire all or part of the stake owned by Future Retail's founding family. The Indian retailer has over 2,000 stores across 400 cities in India.
* Nestlé SA said its Nestlé Health Science SA unit expanded into personalized nutrition with the acquisition of dietary supplements distributor Vitamin Packs Inc., doing business as Persona, for an undisclosed sum. The unit of the Swiss health and wellness company also plans to expand into further geographies in the future, according to the release.
FOOD RETAIL & DISTRIBUTION
* Amazon.com Inc. said it has expanded its AmazonFresh grocery delivery service to Houston, Minneapolis and Phoenix. Amazon Prime members in these cities can now avail of free one- to two-hour delivery for a monthly fee of $14.99 on top of their Prime membership fee.
* U.K. grocer Wm Morrison Supermarkets PLC is shutting down four underperforming stores, putting over 400 jobs at risk, The Guardian reported. A Morrisons spokesperson said it is going through a consultation process to discuss how to reduce redundancies, as well as where the company can redeploy affected staff.
* Walmart Inc. and Tesla Inc. are in discussions to address all issues surrounding Tesla solar installations at Walmart stores, two days after the U.S. retail giant sued Tesla Energy Operations Inc. over fires at several Walmart stores, allegedly sparked by solar panels installed by the Tesla unit. In a joint statement, the two companies said they look forward to "re-energizing Tesla solar installations at Walmart stores, once all parties are certain that all concerns have been addressed."
* Walmart is set to renovate and reopen its store in El Paso, Texas, where a mass shooting happened in early August, the Associated Press reported, citing company spokesman Randy Hargrove. The revamped store, which will open in three or four months, will include an on-site memorial for the victims.
* U.S. grocer Kroger Co. has started selling hemp-derived cannabidiol, or CBD, lotions, oils and creams in 88 of its stores across Texas, Houston Chronicle reported, citing a company spokesperson. The retailer reportedly now offers CBD-infused products across 22 states.
BEVERAGES
* Mid Europa Partners LLP completed the sale of Serbian beverage producer Knjaz Milos AD to a joint venture between Karlovarské minerální vody a.s. and PepsiCo Inc.
* Moody's Japan KK affirmed Suntory Beverage & Food Ltd.'s A3 issuer rating and (P)A3 senior unsecured medium term note program, citing the company's leading position in Japan's soft beverage market that generates stable cash flow. The ratings outlook remains stable.
* Coca-Cola Co. bottler Coca-Cola European Partners PLC, in partnership with autonomous driving company TeleRetail, is piloting robot delivery at theme park Alton Towers Resort, located in England. The robot will collect products from the Alton Towers distribution center and deliver them to drinks outlets across the park.
TOBACCO & SMOKING PRODUCTS
* Tobacco products maker Altria Group Inc. increased its regular quarterly dividend to 84 cents per common share, compared to the previous rate of 80 cents per common share, payable Oct. 10. Altria also revised its annualized dividend rate to $3.36 per common share.
* Japan Tobacco Inc. revised its guidance for the fiscal year ending Dec. 31 and now expects EPS of ¥136.77. The tobacco company projects full year net income to come in at ¥243 billion, up 47.6% year over year from ¥164.60 billion.
PACKAGED FOODS
* Norway's Orkla ASA said it agreed to acquire 20% of Icelandic chocolate and confectionery manufacturer Nói Síríus HF to boost its presence in Iceland. Financial terms of the deal were not disclosed.
RESTAURANTS
* Mexican restaurant chain operator CMR SAV de CV has agreed to acquire Grupo Dasi, the local operator of the Sushi Itto restaurant chain, for an undisclosed amount, Reuters reported. CMR, which runs Mexican eateries under brands such as Chili's, Olive Garden and Red Lobster, will buy Grupo Dasi and its associated businesses in a cash and stock deal, according to the report.
INDUSTRY NEWS
* China bought a small volume of U.S. soybeans from Aug. 9 through 15, just days after saying it was halting purchases of American agricultural products in response to a tariff threat from President Donald Trump, Reuters reported. The soybean purchases included 9,589 tonnes for delivery in the current marketing year and 66,000 tonnes for the next, the report said, citing data from the U.S. Department of Agriculture.
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The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng rose 0.50% to 26,179.33, and the Nikkei 225 increased 0.40% to 20,710.91.
In Europe, around midday, the FTSE 100 was up 0.57% to 7,169.09, and the Euronext 100 was up 0.42% to 1,049.99.
On the macro front
The new home sales report and the Baker-Hughes Rig Count report are due out today.
Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.
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