American consumers struggling to access food assistance payments due to the government shutdown are unable to fill their shopping carts, and that's "hurtful," according to the company behind Stop & Shop and Food Lion grocery stores.
The US government needs to quickly find a solution to the longest government shutdown on record "because it's very painful for people that nutritional support is no longer there," said Frans Muller, CEO of Ahold Delhaize, in an interview with Bloomberg TV.
While Ahold hasn't seen a drop in sales due to the issues affecting the program that provides support to millions of low-income households, they are monitoring the situation closely, Muller added, speaking after the Dutch retailer reported a 1.9% increase in US sales in constant currency during the third quarter.
Ahold Delhaize, which also owns Giant Food and Hannaford stores, generates about 60% of its annual sales in the US. The Trump administration said Monday that it would comply with a court order to fund November's food assistance benefits, but only at 50% of the amount that eligible households typically receive. More than 42 million people in the US rely on support through the Supplemental Nutrition Assistance Program, according to government data. (alg)
Source: Bloomberg
US President Donald Trump announced tariff cuts on fentanyl-related products from China, reducing them from 20% to 10%. This decision is part of an agreement reached at a summit in South Korea last Oc...
As the U.S. government shutdown disrupts federal employee paychecks across the country, it also exacerbates the financial hardship of attorneys who represent the poorest members of society when they a...
US President Donald Trump said Thursday that he had agreed with President Xi Jinping to cut tariffs on China in exchange for Beijing cracking down on illegal fentanyl trade, resuming purchases of U.S....
China has confirmed that President Xi Jinping will meet with US President Donald Trump in South Korea on Thursday. The meeting is a highly anticipated one that traders and investors on both sides of t...
Japan and the United States have agreed to cooperate on next-generation nuclear power reactors and rare earths, as Tokyo seeks to re-enter the nuclear technology export market and both seek to reduce ...
Employment at US companies rose in October, signaling stabilization in the labor market after two straight months of declines. Private-sector jobs increased by 42,000 after a revised 29,000 decline in the previous month, according to ADP Research...
American consumers struggling to access food assistance payments due to the government shutdown are unable to fill their shopping carts, and that's "hurtful," according to the company behind Stop & Shop and Food Lion grocery stores. The US...
Gold prices rose more than 1% on Wednesday (November 5), with a slight weakening of the US dollar and widespread risk-off sentiment boosting demand. Spot gold rose 0.8% to $3,966.54 per ounce as of 10:44 GMT. US gold futures for December delivery...
Asian stocks opened lower on Tuesday, reversing Wall Street's rally fueled by Amazon's massive $38 billion deal with OpenAI. Stock markets in South...
The economic activity in the United States' (US) manufacturing sector continued to contract in October, with the Institute for Supply Management's...
European stocks opened slightly higher in November, with the STOXX 50 and STOXX 600 gaining 0.2%, after closing near record highs in October....
Asia-Pacific markets declined on Wednesday, following a decline on Wall Street, which was driven by concerns about the valuations of artificial...