Thursday headlines include: Family Dollar again rejects Dollar General's advances, ratings agency warns InBev of possible debt downgrade if it pursues dept-funded deal for Miller, JP Morgan planning to reissue cards to victims of the Home Depot hack, American Express and Costco ending their contract in Canada and Apple trying to reassure users about privacy.
Retail chain Family Dollar (FDO) restated its commitment to not be acquired by Dollar General (DG) Thursday. Family Dollar's board said Dollar General's tender offer for the company is “illusory” and restated its commitment to merging with Dollar Tree (DLTR).
Anheuser-Busch InBev NV
Beer company Anheuser-Busch InvBev (BUD) could see its credit rating cut to junk status if it pursues a debt-funded merger of rival SABMiller plc Fitch Ratings said Wednesday. The ratings agency said the company could pursue the merger while retaining investment-grade status if it used significant equity funding and divested some assets.
Financial giant JP Morgan (JPM) will issue new credit and debit cards to some customers in the wake of the card-security breach at Home Depot (HD). A spokesman for the bank declined to say how many cards would be reissued. The company said it will mail the new cards on Sept. 30. In the meantime, customers can continue using their existing cards, but should monitor their accounts for unrecognized purchases.
Credit cards issued by American Express (AXP) will no longer be accepted in Canadian Costco (COST) stores starting on Jan. 1, 2015. The retailer said it will stop accepting American Express in its Canadian stores on Dec. 31, when the current agreement expires.
Consumer electronics giant Apple (AAPL) is working to assuage fears about security after the celebrity photo hacking scandal that broke over the Labor Day weekend. Apple CEO Tim Cook said the company does not build a user profile based on email content or web browsing habits and does not respond to government requests for access to products, service and servers.