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- Chiefs Rally Tragedy, Colorado Sues Merger, Uber's Huge Buyback
Chiefs Rally Tragedy, Colorado Sues Merger, Uber's Huge Buyback
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Following the Chiefs' Super Bowl victory celebration near Kansas City's Union Station, a tragic shooting occurred, resulting in at least one fatality and 21 individuals injured. At the time of reporting, 15 of the victims were suffering from life-threatening wounds, including two who were critically injured; among the injured were eight children.
Authorities have clarified that the incident, which took place around 2 p.m. local time as festivities were winding down, was not an act of terrorism or a deliberate attack. The violence reportedly started after a dispute between at least two individuals near the celebration's endpoint, amidst an estimated crowd of 1 million people dispersing towards the train station.
The circumstances leading to the confrontation are still under investigation, with three individuals reportedly in police custody. The individual who lost her life in the shooting has been identified as Lisa Lopez-Galvan, a local radio DJ.
This event adds to the concerning rise in gun violence in Kansas City, which has seen an increase in recent years. The previous year marked the city's highest homicide rate, with 185 recorded homicides, over 90% of which involved firearms.
On Wednesday, Colorado's Attorney General initiated legal action aiming to prevent the $25 billion merger between Kroger and its competitor Albertsons, citing concerns over consumer detriment. This move comes as the U.S. Federal Trade Commission and various states are examining the proposed deal closely.
Attorney General Phil Weiser remarked that the merger, unveiled in 2022, could lead to negative outcomes such as store closures, elevated prices, job losses, diminished customer service quality, and weaker supply chain resilience.
According to Weiser's office, Kroger and Albertsons represent two of the primary grocery retailers in Colorado, with Kroger managing 148 King Soopers and City Market outlets, and Albertsons overseeing 105 Safeway and Albertsons locations within the state.
Uber Technologies Inc. has announced plans to repurchase up to $7 billion of its shares, signaling a return of capital to its shareholders following a landmark year where the company reported its inaugural full year of operating profits and sustained positive free cash flow throughout 2023.
"This repurchase initiative reflects our confidence in Uber's robust financial progress," stated Chief Financial Officer Prashanth Mahendra-Rajah. He further elaborated, "We intend to approach the buyback program cautiously, initially aiming to balance out stock-based compensation impacts, and gradually moving towards a steady decrease in outstanding shares."
Following the announcement, Uber's stock experienced an uptick of up to 11% in New York, marking its largest surge since the previous May. The stock had already seen significant growth, more than doubling in value in the year leading up to the announcement.