White House asks government to buy more from small disadvantaged businesses

The White House on Thursday unveiled plans to ask federal agencies to direct at least 11% of contract dollars spent to disadvantaged small businesses next year, up from an average of 9.8% over the last five years. The small increase, which would go well beyond the 5% required by law, is part of a bid to harness the federal government’s hefty buying power to boost equity, the White House said. “President Biden’s committed to leveraging every tool available to him and helping level the playing field for small and underserved businesses … as a way to narrow the racial wealth gap,” a senior administration official told reporters on a briefing call prior to the announcement.

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UPDATE 1-Outbreak of Omicron virus variant confirmed in Oslo

An outbreak of the Omicron coronavirus variant has occurred in Oslo, the city’s authorities said on Thursday. One person was confirmed positive for the Omicron variant on Thursday, following a company Christmas party in the Norwegian capital. “At the moment one person is confirmed as infected with Omicron but more cases are expected,” the city said in a statement.

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UPDATE 1-Kroger raises profit forecast as at-home cooking sustains grocery demand

Kroger Co raised its full-year profit forecast on Thursday, boosted by a sustained demand for groceries as the pandemic-induced boom in at-home cooking persists, sending shares up 4% in premarket trade. A rise in U.S. COVID-19 cases during the third quarter also boosted sales at grocers, with some like Costco Wholesale Corp forced to reinstate limits on purchases of items including tissues, roll towels and bottled water, as consumers resumed hoarding goods. Kroger said it expects full-year adjusted earnings per share of $3.40 to $3.50, compared with its prior forecast of $3.25 to $3.35.

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