Daily Briefing


August 28, 2009

Giant increasing items on sale, changes value card

Giant Food said Thursday it will double the number of items it puts on sale each week. The region's largest grocer said it is part of a new marketing initiative to give cash-strapped consumers better bargains. The grocer will also add shelf tags and signs in its stores. It also redesigned its value card and is giving users of the card a one-time 5 percent off their purchase when they use the new card.

- Andrea K. Walker

GDP declines 1% in 2Q, better than expected

WASHINGTON - The economy shrank at an annual rate of 1 percent in the spring, a better-than-expected showing and more evidence that the recession is drawing to a close. The drop, while representing a record fourth consecutive decline, was far smaller than the previous two quarters. It also was stronger than the 1.5 percent decline that private economists expected.

- Associated Press

Bernanke personal bank account struck by ID theft

WASHINGTON - Federal Reserve Chairman Ben S. Bernanke's personal checking account became entangled in an elaborate identity-theft scheme after his wife Anna's purse was stolen last August at a Capitol Hill Starbucks. The thefts helped fuel an investigation into a theft ring. Losses from the fraud totaled more than $2.1 million, court document said.

- Associated Press

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