The Rite Aid-Albertsons merger is off, NYC deals Uber a major blow, and more top news

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The $24 billion merger agreement between drugstore chain Rite Aid and grocer Albertsons Companies is off, both companies announced. The deal was opposed by shareholder advisory firm Institutional Shareholder Services, who argued it did not give “fair ownership interest” to company shareholders. However, Albertsons and its majority owner, private equity firm Cerberus Capital Management, had hoped the merger could help them fight against rivals Amazon and Walmart. ? Here’s what people are saying.

Uber and Lyft have been dealt a blow in New York after the city passed a package of regulations targeting ride-hailing apps. The bills cap the number of ride-hailing vehicles allowed on streets, halts the issuing of licenses for the services and allows the city to set a minimum pay for drivers. Uber and Lyft fought hard to defeat the bills, including trying to mobilize their riders to oppose the proposal. ? Here’s what people are saying.

The U.S. has announced new sanctions against Russia in response to the March 4 nerve-agent attack on a former Russian agent and his daughter in the U.K. The sanctions, which will come into effect around August 22, will target U.S. exports of military-related goods and technology to Russia. A second round of sanctions could be set to follow. ? Here’s what people are saying.

Whole Foods is adding a “click-and-collect” option to its site, which will allow its Amazon Prime shoppers to order groceries online and then drive to the store and have employees deliver the orders to their cars. Rivals Walmart and Kroger’s have already introduced a similar service. Whole Foods customers will have the choice of paying $4.99 to get their orders ready in 30 minutes, or receive them free in an hour. ? Here’s what people are saying.

Chicago-based newspaper publisher Tronc is considering selling itself to a private equity firm in a potential $700 million deal, reports the Chicago Tribune. The firm — which owns the Tribune, the New York Daily News, and the Orlando Sentinel, among others — is considering a bid of $19 to $20 a share. Tronc has been cutting costs; in June, it sold the LA Times and the San Diego Union-Tribune, and in July, Tronc cut the editorial staff of the NY Daily News in half. ? Here’s what people are saying.

Idea of the Day: Similar to a good marriage, companies can only succeed when their staff are committed, says Louisa Wong, executive chairman of Global Sage.

“For couples that stay married for a long time, chances are they talk, are kind and generous to each other, they make sacrifices, and accept one another for who they are. Companies can use this as guiding principles when nurturing their organization’s culture.”

What's your take on today’s stories? Share your thoughts in the comments.

— Carmel Melouney and Jessica Hartogs