Albertsons is closing additional stores and cutting jobs nationwide as it works to stabilize operations following the collapse of its $24.6 billion merger with Kroger, intensifying pressure on the grocery chain.

The Boise, Idaho-based company — which operates banners including Safeway, Vons and Pavilions — has announced a new round of closures in recent weeks as it pivots to cost-cutting and operational changes.

The company has closed roughly 20 stores in 2025, underscoring mounting pressure as it competes with larger rivals such as Walmart and other low-cost operators.

In Southern California, Vons stores in Escondido and Redlands will close in April, eliminating 135 jobs. An Albertsons store near Riverside, California, shut down in March, cutting 75 workers, while a Safeway in Northern California closed earlier this year, affecting 76 employees.

GROCERY GIANT KROGER TO CLOSE 60 STORES IN NEXT 18 MONTHS

An employee stocks food inside an Albertsons grocery store in San Diego, California. (Bing Guan/Bloomberg via Getty Images)

The cuts extend beyond the West Coast. Two Albertsons-owned stores in North Texas are set to close by late April, impacting 138 workers, and a Safeway in Washington, D.C., is slated to shut down in May, eliminating 87 positions.

Industry analysts say the closures reflect ongoing fallout from the blocked Kroger merger, which Albertsons had framed as key to achieving scale and competing more effectively on pricing.

In response, the company is leaning on cost reductions and technology investments, including automation and artificial intelligence, as digital sales grow — often requiring fewer in-store workers.

A worker pushes shopping carts outside an Albertsons supermarket in Las Vegas, Nevada. (Bridget Bennett/Bloomberg via Getty Images)

Albertsons is also facing investor skepticism, with its stock down over the past year.

Meanwhile, the legal fight that killed the merger is still playing out. California and a coalition of states are seeking more than $10 million to cover the cost of blocking the deal.

Shoppers walk outside an Albertsons grocery store on February 26, 2024, in Las Vegas, Nevada. (Ethan Miller/Getty Images)

Regulators argued the merger would reduce competition and raise grocery prices. A federal judge agreed in 2024, halting what would have been the largest supermarket merger in U.S. history.

Kroger and Albertsons spent roughly $1.5 billion pursuing the deal, underscoring the scale of the failed tie-up.

CLICK HERE TO GET FOX BUSINESS ON THE GO

Now operating independently, Albertsons is navigating a more competitive grocery landscape while restructuring its footprint and workforce to adjust to shifting consumer demand and margin pressure.

Reuters contributed to this report. 

Jim Ratcliffe has thrown his support behind Conservative proposals to scrap carbon taxes, intensifying the debate over the cost of net zero policies and their impact on UK industry.

The billionaire founder of Ineos said he welcomed plans from Kemi Badenoch to remove levies on carbon emissions, arguing that current policies are undermining competitiveness and driving up energy costs for businesses and households.

Ratcliffe said he supported a pragmatic approach to energy policy that ensures affordability while maintaining environmental goals, warning that excessive taxation risks damaging domestic industry.

The Conservative proposal would scrap carbon pricing mechanisms such as the UK Emissions Trading Scheme (ETS), which requires industrial firms to purchase allowances to cover their emissions.

Supporters of the move argue that these costs place UK manufacturers at a disadvantage compared with international competitors, particularly in countries where carbon pricing is less stringent or absent.

Major industrial players, including ExxonMobil and Huntsman Corporation, have echoed these concerns, warning that high carbon costs are eroding margins, threatening jobs and contributing to the relocation of production overseas.

Paul Greenwood of ExxonMobil’s UK operations said his company pays “hundreds of millions of pounds” annually in carbon-related costs, while Peter Huntsman described the current system as a driver of “deindustrialisation”.

Carbon levies also feed directly into electricity costs. Under the UK’s Carbon Price Support mechanism, introduced in 2013, power generators must pay for emissions associated with fossil fuel use.

Because gas-fired power stations often set the wholesale electricity price, these costs are passed through to consumers, increasing bills across the economy.

Analysis from energy think tank Ember suggests that carbon taxes account for a significant proportion of generation costs, with implications for both businesses and households.

The proposal has exposed a sharp political divide over the future of the UK’s energy and climate policy.

Badenoch said scrapping carbon taxes would help reverse decades of industrial decline and strengthen national resilience, arguing that current policies are making it harder for businesses to operate competitively.

However, critics warn that removing carbon pricing could undermine efforts to reduce emissions and transition to cleaner energy sources.

Greenpeace UK has argued that carbon taxes remain a critical tool for driving investment in low-carbon technologies, while also questioning how the government would replace the lost revenue.

Scrapping carbon levies could also put the UK at odds with international frameworks, particularly the European Union’s planned carbon border adjustment mechanism, which is designed to level the playing field for industries facing carbon costs.

A divergence in policy could create new trade complexities, particularly for exporters operating across European markets.

Trade bodies representing energy-intensive sectors, including the Chemical Industries Association and Ceramics UK, have warned that many green technologies required to decarbonise industry are not yet commercially viable.

As a result, companies argue they are being forced to bear high costs without access to practical alternatives, creating a risk of plant closures and reduced investment.

The debate over carbon taxes reflects a broader challenge facing policymakers: balancing the need to reduce emissions with the imperative to maintain economic competitiveness and energy security.

For businesses, the outcome will have significant implications for costs, investment decisions and long-term strategy.

For the government, the question is whether adjustments to the current framework can address industry concerns without undermining progress towards net zero.

As pressure mounts from both industry and environmental groups, the future of carbon pricing is set to remain a central issue in the UK’s economic and energy policy agenda.

Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

First group of 186 homes in South Heywood Masterplan area

The early stage of a 1,000-home scheme in south Heywood has been approved – bringing with it 186 houses. The overall South Heywood Masterplan would see the 1,000 homes, employment space, primary school and new link road brought to land off Hareshill Road North.

The site of the 186 homes is an oddly shopped bit of land where Hares Hill Farm used to be. Once complete, the residential development would be accessed off the new link road built to feed the wider scheme – Queen Elizabeth II Way.

The giant scheme, which would effectively bring a new town to the southern echelons of Heywood, forms part of the Places for Everyone (PfE) plan, which has been adopted by nine out of 10 Greater Manchester councils. PfE is expected to bring thousands of jobs, new homes, and sustainable growth across the city-region by 2039.

Northstone, the developer, will build a mix of detached, semi-detached and terraced homes, alongside a single bungalow and a number of apartments. These will mainly be three and four-bedroom properties, but there is a range from one to six bedroom homes.

Northstone bought the plot of land on Hareshill Road North, between junctions 18 and 19 of the M66 motorway, and intend to drive forward this phase of the scheme. The sale was facilitated by Russell LDP, who successfully fronted the overall South Heywood masterplan.

This parcel of land would see the 186 homes built just off the new link road route, with public open space, a wild flower meadow and tree-lined streets all in the proposals.

Planning papers read: “At the heart of this proposal are the principles of good design, desirability and creating housing choice with the intent of creating a sustainable community where people want to live.

“The high quality architectural design will provide visually attractive and energy efficient homes, which are of an appropriate mix, layout and scale surrounded by effective landscaping.

“The proposed development will establish and maintain a strong sense of place, creating an attractive, welcoming and distinctive housing development which aims to reduce its impact on the environment and local ecosystems.

“The scheme is designed to be safe, inclusive and accessible while promoting health and well-being via the provision of generous sized private gardens and public open space and as such would be an asset to the local area.”

Northstone, part of the Peel Group, was launched by its parent company in 2018 to drive forward the delivery of its residential pipeline in the North West. Sustainability and energy efficiency are highlighted as their ‘key drivers’.

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

Some Americans are already locking in their summer travel plans, and this year’s top destination may come as a surprise.

New data from AirDNA, which tracks Airbnb and Vrbo listings, shows Jackson Hole, Wyoming, leading the nation in short-term rental bookings for summer 2026, with 45.5% of properties already reserved between June and August, Realtor.com reported.

Experts say this points to a broader shift in travel preferences.

“We’re seeing a fascinating shift in the short-term rental market for Summer 2026,” Charlie Lankston, executive editor at Realtor.com, told FOX Business in an email. “While a beach house has always been the gold standard, data from AirDNA shows that some travelers are now choosing to trade the ocean for the mountains.”

Jackson Hole’s appeal lies in its mix of outdoor experiences, from whitewater rafting and canoeing to wildlife viewing in Grand Teton National Park, according to Realtor.com.

SAN FRANCISCO AIRPORT EXPECTS MAJOR DELAYS AS FAA RESTRICTS SOME LANDINGS

Jackson Hole and the gateway to Grand Teton National Park on May 28, 2021. (Photo by AaronP/Bauer-Griffin/GC Images)

Here are the top 10 summer destinations based on booked occupancy rates for short-term rentals from June through August 2026, according to AirDNA:

Jackson Hole, Wyoming

Booked occupancy rate: 45.5%

Cape Cod, Massachusetts 

Booked occupancy rate: 44%

Door County, Wisconsin

Booked occupancy rate: 42.6%

Outer Banks, North Carolina

Booked occupancy rate: 41.4%

An aerial view of Rodanthe on Hatteras Island in Dare County, North Carolina, part of the Outer Banks. (iStock)

Maine beaches 

Booked occupancy rate: 40.7%

ALASKA AIRLINES UNVEILS LIE-FLAT SUITES, UPGRADED PERKS IN NEW INTERNATIONAL BUSINESS CLASS

Newport, Rhode Island 

Booked occupancy rate: 40.4%

A view of Newport, Rhode Island, with the Breakers in the foreground. (Getty Images)

Kenai Peninsula, Alaska

Booked occupancy rate: 40.3%

Maine (Down East/Acadia coast) 

Booked occupancy rate: 40.2%

Michigan west coast 

Booked occupancy rate: 39.4%

Atlantic City/Ocean City, New Jersey

Booked occupancy rate: 38.7%

Aerial view of the boardwalk and shoreline in Atlantic City, New Jersey. (iStock)

JETBLUE EXPANDS FORT LAUDERDALE HUB WITH NEW DESTINATIONS AND INCREASED FLIGHTS

At the same time, demand is rising sharply in cities set to host matches during the 2026 FIFA World Cup.

“We’re also seeing a World Cup windfall with demand in host cities like Fort Worth and Kansas City increasing drastically,” Lankston told FOX Business.

With hotels in those markets expected to fill quickly, short-term rentals are poised to benefit.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

“Between the $750 host incentives from Airbnb and the surging occupancy rates, the 2026 rental season is shaping up to be a lucrative side hustle for many American homeowners in these metros,” Lankston added.

One year ago, President Donald Trump launched sweeping global tariffs, ratcheting up trade tensions and fueling new concerns about the U.S. and global economy.

Dubbed “Liberation Day,” the tariffs targeted imports broadly, with Trump arguing they would fix trade imbalances and curb reliance on foreign goods. 

A year later, many of those tariffs have been struck down by the Supreme Court. The federal government is now working on a plan to refund roughly $166 billion in improperly collected duties, with details expected by mid-April.

SUPREME COURT DEALS BLOW TO TRUMP’S TRADE AGENDA IN LANDMARK TARIFF CASE

President Donald Trump delivers remarks on reciprocal tariffs during an event in the Rose Garden on April 2, 2025. (Brendan Smialowski/AFP/Getty Images)

On the heels of “Liberation Day,” duties jumped from $9.6 billion in March to $23.9 billion in May following the rollout of the tariffs. 

For fiscal 2025, which ended Sept. 30, collections reached $215.2 billion, according to Treasury data, and the upward trend has continued into fiscal 2026, with receipts already outpacing last year. 

Revenue for the current fiscal year has reached $181.6 billion. Since Trump’s return to office, tariff collections have risen roughly more than 300%, delivering a major windfall to federal coffers. 

TRUMP SAYS US WOULD BE ‘DESTROYED’ WITHOUT TARIFF REVENUE

Tariffs function as a tax on imports, and in many cases, U.S. importers absorb the upfront cost and then pass it along through higher prices for wholesalers, retailers and, ultimately, consumers. That means households and businesses may face increased costs for goods ranging from electronics to raw materials.

Whether tariffs ultimately help or hurt the economy depends on how much of that burden consumers absorb, how domestic producers respond and whether the intended economic or geopolitical advantages are worth the added costs to consumers.

TRUMP CALLS TARIFF OPPONENTS ‘FOOLS,’ PROMISES $2K DIVIDEND PAYMENTS FOR AMERICANS

A demonstrator outside the U.S. Supreme Court in Washington, D.C., on Nov. 5, 2025. (Eric Lee/Bloomberg via Getty Images)

That dynamic makes the high court’s ruling especially consequential for households and businesses already navigating elevated costs.

CLICK HERE TO GET FOX BUSINESS ON THE GO

Meanwhile, the revenue surge underscores how central tariffs have become to Trump’s economic agenda, with the administration arguing that duty collections can help fund domestic priorities, reduce the nation’s debt and even deliver a proposed $2,000 dividend to Americans.

It’s unclear whether that plan is still on the table.

The Bank of England has warned that escalating tensions in the Middle East could push the UK towards a financial crisis scenario, as rising energy costs, higher borrowing rates and market volatility expose underlying vulnerabilities in the economy.

In its latest assessment, the Bank’s Financial Policy Committee (FPC) said the Iran conflict has already triggered a “substantial” shock to global markets, tightening financial conditions and increasing inflationary pressures at a time when risks were already elevated.

One of the most immediate impacts is being felt by homeowners. The Bank estimates that around 5.2 million borrowers, more than half of all mortgaged households, are now expected to face higher repayments by 2028, up from 3.9 million before the conflict began.

The increase reflects a sharp shift in market expectations for interest rates, with investors scaling back hopes of cuts and, in some cases, pricing in further rises.

More than 1,500 mortgage products have already been withdrawn from the market as lenders react to increased volatility, further limiting options for borrowers.

Andrew Bailey cautioned that markets may be overreacting to the outlook for rates, but acknowledged that the environment has become significantly more uncertain.

The conflict has disrupted global energy supplies, particularly through the Strait of Hormuz, a key route for oil and gas exports. The resulting surge in energy prices is feeding directly into inflation, raising the prospect of sustained cost pressures across the economy.

The FPC warned that higher inflation would weigh on growth while increasing borrowing costs, creating a challenging environment for both households and businesses.

Fuel prices have already risen sharply, and further increases in household energy bills are expected later in the year, adding to the cost-of-living squeeze.

The Bank also highlighted growing instability in financial markets. Hedge funds have unwound around £19 billion of positions linked to expectations of falling interest rates, contributing to volatility in short-term borrowing costs.

At the same time, the increasing interconnectedness of equity and bond markets, partly driven by hedge fund activity, raises the risk that stress in one area could quickly spread to others.

“A sharp correction in equity markets could transmit stress to gilt markets,” the committee warned, pointing to the potential for broader financial disruption.

Particular concern has been raised about the $18 trillion private credit sector, which has expanded rapidly since the financial crisis and now plays a significant role in corporate lending.

The recent collapse of Market Financial Solutions was cited as an example of vulnerabilities in the sector, including high leverage, limited transparency and optimistic valuations.

Bailey drew parallels with the early stages of the 2008 crisis, noting that initial warnings about isolated problems can sometimes underestimate systemic risks.

The report also flagged rising risks in sovereign debt markets, with governments, including the UK, issuing large volumes of bonds to finance spending.

The UK is expected to spend more than £100 billion this year on debt interest alone, limiting fiscal flexibility and reducing the ability to respond to future shocks.

The FPC warned that the combination of higher borrowing costs and weaker growth could create a “debt trap” for some economies, further amplifying global financial risks.

Despite the warnings, the Bank stressed that the UK’s core financial system remains resilient, with banks well capitalised and capable of absorbing shocks.

However, it cautioned that the combination of multiple pressures, including high household debt, market volatility and geopolitical uncertainty, increases the risk of a more severe downturn if conditions deteriorate further.

The Bank’s assessment underscores the fragility of the current economic environment, where global events are quickly feeding into domestic financial conditions.

For households, the prospect of higher mortgage payments and rising living costs presents a significant challenge. For businesses, tighter financial conditions and weaker demand could constrain investment and growth.

For policymakers, the task is to navigate a narrow path between controlling inflation and supporting economic stability, while preparing for the possibility that the current shock could evolve into a broader financial crisis if multiple risks materialise at once.