☕ Shock to the system

Kroger's plans to buy Albertsons go to trial... August 26, 2024 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( PRESENTED BY [AT&T In-car Wi-Fi]( Good morning. MLB catcher Danny Jansen will make history today when he becomes the first player to appear in the same game for both teams. Here’s how this bizarre situation happened: On June 26, a game between the Boston Red Sox and Toronto Blue Jays was suspended due to weather while Jansen was at bat for the Blue Jays. The game was scheduled to resume on Aug. 26. In the meantime, Jansen was traded from the Blue Jays to the Red Sox, so today he’ll take the field against the team he had played for when the game began. Of course, Jansen didn’t pioneer this move. That would be Mac from It’s Always Sunny, who once proclaimed, “I’m playing both sides so that I always come out on top.” —Holly Van Leuven, Cassandra Cassidy, Neal Freyman, Dave Lozo MARKETS: YEAR-TO-DATE Nasdaq $17,877.79 +21.07% S&P $5,634.61 +18.80% Dow $41,175.08 +9.17% 10-Year 3.807% -13.9 bps Bitcoin $64,657.54 +52.98% Oil $75.19 +6.83% Data is provided by *Stock data as of market close. [Here's what these numbers mean.]( - Markets: Jerome Powell was the wind beneath the wings of the stock market last week. In his closely watched speech at the central bank’s annual retreat in Jackson Hole, the Fed chair indicated that he was prepared to cut interest rates to boost the economy and support a weakening labor market. Investors [went gaga over Powell’s pivot]( sending the S&P 500 to within 1% of its all-time high.  GROCERY [Biggest US supermarket deal ever goes to trial]( [A conveyer belt of groceries at a checkout aisle and a man waiting to pay.]( Bell/Getty Images An end is in sight for Kroger’s bid to acquire the Albertsons grocery biz. The [antitrust trial]( attempting to stop the two from merging begins today in Oregon federal court, and could ultimately change where consumers purchase their foodstuffs. Kroger’s bid to acquire the Albertsons grocery biz resembles the meme of three Spider-Men pointing at each other. To placate the Federal Trade Commission (FTC) and hopefully swing the lawsuit in their favor, Kroger and Albertsons say they would sell 579 stores to C&S Wholesale Grocers, which operates Piggly Wiggly and Grand Union stores. C&S would become the eighth-largest grocery company, with about the same number of stores as Trader Joe’s. “We will be a leader in the industry,” C&S CEO Eric Winn said. Less clear: Does the company want to be? - In recently unredacted internal documents regarding the Kroger case, Bob Palmer, the former CEO of C&S, asked last year, “Do we have to say that we won’t close stores?” - He acknowledged stores would stay open during the sale, but posited, “Then what?” The FTC is seeking a preliminary injunction to move the trial to its in-house court. Most companies give up on their plans to merge if an injunction is granted to the regulator. But Kroger wants the deal to close so it can better compete with discount grocery giants Costco and Walmart. Kroger CEO Rodney McMullen said the merger is “squarely focused on ensuring we bring customers lower prices starting day one.” What about shoppers? University of Buffalo School of Law professor Christine P. Bartholomew said that if this merger goes through, more will follow: “The risk is more deals, more concentration and potentially higher prices and less consumer choice.” In order to win, Kroger will need to prove that C&S has the infrastructure and ambition to operate the stores. Experts believe the trial will play out over three weeks.—HVL PRESENTED BY AT&T IN-CAR WI-FI [Woulda, coulda, shoulda]( [AT&T In-car Wi-Fi]( Three of the scariest words in the lexicon, if we’re being real. And with summer’s end just around the corner, you definitely don’t wanna hear yourself saying ’em. It’s time to go big, and AT&T In-car Wi-Fi can help. They’re offering a four-day Labor Day test drive, where you can [get unlimited AT&T In-car Wi-Fi]( for free. That’s right: Hit the open road while staying connected—for free. Forget about late-summer FOMO. Wanna sing your fave tunes with the homies? Stream that show you’ve been binging? Or maybe you gotta hop on a quick 1:1 for work? Whatever you need, [AT&T In-car Wi-Fi]( has your back. [Don’t finish out your summer with regret](. WORLD [Tour de headlines](#) [NASA astronauts in the ISS]NASA Starliner astronauts won’t return home until February 2025. NASA made the [announcement]( on Saturday that it will turn to SpaceX to bring Suni Williams and Butch Wilmore back from the ISS due to ongoing problems with the Boeing capsule that brought the duo into space in June. The Boeing capsule will return home without the astronauts, while SpaceX will send its capsule to the ISS with two empty seats. The original flight with Williams and Wilmore was only scheduled to last about nine days, but problems with the propulsion system and the safety issues that ensued will leave them stranded in space for another six months. Authorities open a manslaughter probe into the sinking of superyacht. It wasn’t a sudden storm that caused the vessel to [sink]( off the coast of Sicily, killing British tech mogul Mike Lynch and six others last week—it was the result of actions by the crew, according to prosecutor Ambrogio Cartosio. “We are evaluating all of the factors to see whose behavior fault can be assigned to,” he said. The coast guard initially reported the boat was hit by a tornado and the European Severe Weather Database reported a waterspout—a tornado at sea—around the same time. If the ship's hatches were left open, something authorities have yet to confirm, it would explain why the superyacht sank so quickly, an official said. Australians now have the right to turn off work notifications (sometimes). August 26 marked the start of a new [“right to disconnect” law]( that aims to restore boundaries between work and life after the pandemic smushed them together. While bosses can still message workers at any time, the employees can no longer be punished for failing to read or respond to the messages outside of work hours. But there’s a caveat. According to the law, workers are protected “unless such refusal is unreasonable.” A legal definition of reasonable does not yet exist in any corner of the world, but Australia joins about two dozen other countries in trying to give their employees some cover to have a life. TECH [France arrests Telegram CEO over content issues]( [Pavel Durov]( Blondeau/Getty Images Telegram CEO Pavel Durov may be used to ice-cold [baths]( but he still got a shock to the system on Saturday. The 39-year-old billionaire, who is a citizen of France, was arrested at an airport outside Paris as part of a preliminary investigation into his platform’s alleged role in illegal activity. Telegram is an encrypted messaging app that’s been valued at over $30 billion, but it has attracted [controversy]( now legal action—because it lacks content moderation, which French authorities say has led to it being used for criminal ends, including drug trafficking and child pornography. Durov refused to cooperate with the police on these issues, which prompted the arrest warrant, according to French newspaper Le Monde. How we got here: Durov founded Telegram in his home country of Russia in 2013 to be able to speak freely amid censorship of what the government called “opposition communities.” Since then, it’s become a major app despite its counter-cultural bent. - It’s considered a communication lifeline by people who live in countries with heavy censorship. - Ukrainian officials and the Russian government have used the app amid their ongoing war. Speaking of…Moscow asked the French to “ensure the protection of [Durov’s] rights” on Sunday. Elon Musk posted “#FreePavel” on X and made other posts claiming that Europe is attacking [free speech]( TOGETHER WITH HEAR.COM [Hear.com]( Sick of mediocre? 2024’s best hearing device is a game changer. [hear.com’s next-gen hearing aids]( are built to crush outside noise and put you back in control. With razor-sharp sound and a stealth design, your hearing aid is basically your little secret. [Start living loud and hear the difference](. STAT [Prime number: Only 630 Mister Softee trucks remain](#) [A Mr. Softee ice cream truck parked in a neighborhood. ]Woodysphotos/Getty Images Soft serve has fallen on hard times. The number of iconic Mister Softee ice cream trucks in operation is now 630 across 21 states, [compared]( to over 2,000 that happily roamed America’s streets across 38 states in the ’60s. While inflation has damaged many truck owners’ businesses, which are independent franchises, other issues have contributed to the Messrs. Softee’s woes: - A rise in bougie ice cream shops that sell flavors like “toasted caramel dreamsicle” has created competition. - Too-hot hot weather means people aren’t going outside as much, and if they are, they’re looking for electrolytes, not dessert. And that’s just the real Mister Softees: Corporate suits at Mister Softee HQ are cracking down on rogue trucks that have tried to rip off its signage and [jingle](. CALENDAR [The week ahead](#) [US Open tennis match]Al Bello/Getty Images Coco Gauff begins the defense of her US Open crown today: Novak Djokovic will be doing the [same]( on the men’s side while looking for the 25th Grand Slam singles title of his career, which would break a tie with Margaret Court for the overall record. Aryna Sabalenka and Carlos Alcaraz, who are parked on the other side of the women’s and men’s brackets, respectively, are the betting favorites. Sportsbooks have no odds on how many $23 Honey Deuces will be sold at the tournament yet, but smart money says you should take the over. US and China will sit down and talk things over: Jake Sullivan, the national security advisor to President Joe Biden, will embark on a [three-day diplomatic trip]( to China starting on Tuesday. He will meet with China’s foreign minister, Wang Yi, in the latest get-together designed to ease tensions between the countries that grew rocky after the US shot down a Chinese spy balloon that entered US airspace last year. Topics of discussion are expected to include limiting the trafficking of fentanyl, China’s support for Russia and its invasion of Ukraine, and tariffs on Chinese imports like semiconductors and EVs. A billionaire, a retired fighter pilot, and two SpaceX employees walk into space: On Tuesday, the Elon Musk-helmed rocket company is attempting to send four people on the first [private spacewalk]( mission. The walk is scheduled for Thursday. It will be a test for SpaceX’s astronaut suits and one small step for Musk on the way toward his dream of colonizing Mars. Until now, only government astronauts from the US, the Soviet Union/Russia, the European Space Agency, Canada, and China have conducted spacewalks. Everything else… - Nvidia will drop its [Q2 numbers]( on Wednesday. Investors will also look for an update from CEO Jensen Huang about reported delays in production of the company’s highly anticipated new Blackwell chips. - The Paris 2024 Summer Paralympic Games begin on Wednesday. About 4,400 athletes will compete in 549 medal events across 22 sports. Find out how to watch [here](. - College football’s soft opening was this past weekend. This Saturday marks the first full slate of the NCAA season. NEWS [What else is brewing](#) - [Apple]( is reportedly unveiling new iPhones, watches, and AirPods as part of a product launch on Sept. 10, per Bloomberg. The iPhone 16 will be available on Sept. 20. - [Americans]( can receive free Covid-19 tests through the mail beginning next month. - [The NFL]( will decide at a meeting this week if private equity can invest in its franchises. - [Oasis]( is rumored to finally be getting back together to perform shows in England next year. - [Black Myth: Wukong]( a new Chinese video game, posted huge numbers on Steam but also came under fire for allegedly trying to censor players. - [Babe Ruth]( famous “called shot” jersey was sold for over $24 million at auction, becoming the most expensive piece of sports memorabilia in history. RECS [Monday to-do list image] Photo finish: Is the [image editor]( on the Pixel 9 too good? Grab the bag: An innovative and stylish [option]( for carrying a book. Do: The weirdest thing [that feels right](. For the group chat: Halloween is in 67 days. Here are 67 group [costume ideas](. Just $1 to travel the world, today only: Try [Dollar Flight Club for $1]( to get exclusive flight deals up to 90% off—like round-trips to Spain from $249. This $1 [offer ends in 12 hours](. Don’t miss out!* *A message from our sponsor. GAMES [The puzzle section](#) Turntable: Take a break from Saturday’s Crossword Contest to play a different type of word game—[Turntable](. (Here’s a [link to that contest]( by the way. You have just a few more days to submit the mystery word for a chance to win Brew swag.) Dog trivia National Dog Day may be a (fake) US holiday, but love for dogs—and breeding them—is an international phenomenon. We’ll give you a breed, and you have to name the country it originated from. - Akita - Corgi - Great Dane - Rhodesian Ridgeback - Samoyed - Dalmatian - Pug SHARE THE BREW [Share Morning Brew]( with your friends, acquire free Brew swag, and then acquire more friends as a result of your fresh Brew swag. We’re saying we’ll give you free stuff and more friends if you share a link. One link. Your referral count: 0 [Click to Share]( Or copy & paste your referral link to others: [morningbrew.com/daily/r/?kid=4904f90a]( ANSWER - Japan - Wales - Germany - South Africa - Russia - Croatia - China Word of the Day Today’s Word of the Day is: placate, meaning “to soothe or mollify, especially by concessions.” Thanks to Patty Hilton of Arizona and others for humoring us with the suggestion. Submit another [Word of the Day here](. ✢ A Note From AT&T In-car Wi-Fi Requires eligible car and wireless service plan. Additional restrictions apply. *Based on independent third-party data. AT&T may temporarily slow data speeds if the network is busy. Written by [Neal Freyman]( [Holly Van Leuven]( Dave Lozo, and [Cassandra Cassidy]( Was this email forwarded to you? Sign up [here](. 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