Business Briefs – June 13, 2017

Low Prices, Few Choices: Discounters Remake Grocery Shopping

NEW YORK (AP) — Discounters Aldi and Lidl are looking to reshape the American grocery experience. The no-frills European chains that offer low prices but far fewer options will be pressuring traditional grocers. Aldi expects to have 2,500 U.S. stores by the end of 2022, while Lidl is opening its first U.S. stores this week. They say shoppers appreciate the prices and having fewer options means the shopping gets done quicker.

11 States Sue DOE Over Stalled Energy-Use Limits

SAN FRANCISCO (AP) — New York, California and nine other states are suing the Trump administration over its failure to finalize energy-use limits for portable air conditioners and other products. The new standards would reduce greenhouse gas emissions, save businesses and consumers billions of dollars, and conserve enough energy to power more than 19 million households for a year. The states filed the federal lawsuit against the U.S. Department of Energy on Tuesday in San Francisco.

‘Fintech’ Startup SoFi Moving Into Traditional Banking

NEW YORK (AP) — Online lender and financial startup SoFi has taken the first step toward competing with the nation’s biggest banks on their home turf: the checking account. In its application, the company said its SoFi Bank subsidiary will offer bread-and-butter banking products, including checking accounts, debit cards and eventually credit cards.

Appeals Court Tosses FCC Cap On Cost of Calls to Prisons

NEW YORK (AP) — A federal court struck down regulations intended to cap the price of some calls to prison inmates, which can cost families thousands of dollars a year. The court said Tuesday that the FCC lacked authority to set rates for the in-state prison calls. The agency does regulate the price of out-of-state calls for prisoners.