Bi-Lo gets FTC OK to buy Sweetbay, Harvey’s Reid’s stores
The Federal Trade Commission Tuesday approved a deal for Bi-Lo Holdings to acquire all of the stores in the Sweetbay, Harvey’s and Reid’s supermarket chain from Delhazie Group. Under the plan, the Batesburg Reid’s grocery store will become a KJ’s Market IGA after the deal closes May 31, the companies said in a press release. Reid’s stores in Cayce, Orangeburg and Walterboro will close May 31, and a Bi-Lo store in Aiken will close July 12. Other stores throughout Georgia and Florida also will be affected, the companies said.
Bank of America facing new probes of mortgage practices, foreign exchange
A third of N.C. hog farms hit by virus that kills all piglets it infects
JPMorgan Chase cutting 8,000 jobs
JPMorgan Chase plans to eliminate a total of 8,000 jobs, or 3 percent of its workforce, this year as its mortgage business shrinks and as the giant bank aims to control costs at its branches. About half of those job cuts had already been announced. JPMorgan Chase now plans to cut more jobs as it tries to reduce $2 billion in consumer banking expenses by the end of 2016. The cuts include reductions in the bank’s mortgage and retail banking businesses.