Kroger's plan to buy rival supermarket chain Albertsons would merge two of America's biggest grocers by market

PRESENTED BY META   Axios PM By Mike Allen · Oct 14, 2022 Happy Friday: Today's PM — edited by Justin Green — is 414 words, a 2-minute read. ⚡️ Bulletin: The White House is trolling Republicans by handing out Sen. Rick Scott's own 12-point plan, Axios' Hans Nichols scoops.     1 big thing: Megamerger on Aisle 2 Data: Kroger. Map: Kavya Beheraj/Axios Kroger's plan to buy rival supermarket chain Albertsons would merge two of America's biggest grocers by market share, Axios Pro Rata author Dan Primack reports. Kroger is No. 2, behind only Walmart ... Albertsons is No. 4, behind Costco. Why it matters: Antitrust scrutiny is sure to follow, particularly around overlapping geographic footprints. The two companies employ 710,000 workers and operate nearly 5,000 stores, almost 4,000 pharmacies and over 2,000 fuel centers. They're already talking about store divestitures. Between the lines: Kroger is promising to use the merger to reduce prices, Axios Closer co-author Nathan Bomey reports. Consumer watchdogs are questioning Kroger's sincerity.         2. 🇬🇧 Why Britain's mess matters Prime Minister Liz Truss at a news conference at Downing Street today. Photo: Carlos Jasso/Bloomberg via Getty Images The era of the free lunch is over, with Britain as the centerpiece. Chancellor of the Exchequer Kwasi Kwarteng was fired today as the government backed off of the tax-cutting plans he championed. The plan had sent bond and currency markets reeling in recent weeks. Zoom out: The world economy is entering a new phase, Axios Macro co-author Neil Irwin reports. Gone are the days of rich countries free to enact fiscal stimulus, cut taxes, and massively replace lost income without worrying too much about inflation or spiking interest rates. Share this story.         A MESSAGE FROM META Students will be able to explore outer space in the metaverse     With the metaverse, students in a classroom will be able to travel to the depths of our galaxy, helping them get up close to the planets and gain a deeper understanding of how our solar system works. The metaverse may be virtual, but the impact will be real. See how Meta is helping build the metaverse.     3. Catch up quick Graphic: Axios Visuals Debate BINGO: The Axios Atlanta team has a fun game for those watching tonight's Georgia Senate debate between Herschel Walker and Raphael Warnock. Interactive version here. Elon Musk said SpaceX can't "indefinitely" fund critical internet service in Ukraine through Starlink terminals. Go deeper. A teen suspect — who Raleigh police allege was the shooter in the incident that killed five people in North Carolina — is hospitalized in critical condition. Go deeper. Scottish actor Robbie Coltrane, who played Hagrid in the Harry Potter movies, died today at 72.         ❤️ 4. Quote of the week: Dolly's giving strategy Photo: Andres Kudacki/AP Dolly Parton, from her Carnegie Medal of Philanthropy speech last night: "I just give from my heart. ... I never know what I’m going to do or why I’m gonna do it. I just see a need and if I can fill it, then I will." Parton told AP that she gets too much attention for her philanthropic work, but is "proud to be the voice out there, doing what I can to get more books into the hands of more children." Go deeper.         A MESSAGE FROM META The metaverse will help farmers adapt to unpredictable conditions     In the metaverse, farmers will plan field layouts, adapt to climate needs and monitor the health of their soil with AR technology. The result: abundant yields during harvest. The metaverse may be virtual, but the impact will be real. See how Meta is helping build the metaverse.   Thanks to Sheryl Miller for copy editing today's newsletter. Are you a fan of this email format? It's called Smart Brevity®. Over 300 orgs use it — in a tool called Axios HQ — to drive productivity with clearer workplace communications.   Axios thanks our partners for supporting our newsletters. If you’re interested in advertising, learn more here. Sponsorship has no influence on editorial content. Axios, 3100 Clarendon B‌lvd, Arlington VA 22201   Sign up now to get Axios in your inbox.   Follow Axios on social media: