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• The Albany Times Union reports that New York State-based Price Chopper has been named in a class action suit filed by a former employee who charges that the company "misclassified workers as supervisors to avoid paying them overtime. The suit was filed "on behalf of all Price Chopper’s team leaders and department managers."

Price Chopper replied that its lawyers had not yet seen the suit, but that it takes its legal obligations to its employees "seriously."

• The Associated Press reports that Cargill will shut down a Milwaukee beef processing plant, saying that a shortage of cattle has made the move necessary.

According to the story, "the meat producer says a Midwest drought in 2011 and 2012 hurt cattle levels … Cargill says US beef cattle herd is at its lowest level since 1951."

• The New York Times reports that Square "plans to introduce a new version of its credit card reader hardware next year, a device that the company hopes many small and medium-size businesses will quickly adopt … Square’s new reader will be compatible with microchip-enabled credit cards. The microchip technology, commonly referred to as E.M.V. (short for Europay, Mastercard and Visa), communicates with payments processors to determine whether the card is counterfeit every time it is used to make a purchase."

• The International Business Times reports that new data from Kantar Worldpanel suggests that during the most recent quarter, Aldi and Lidl grew their UK market shares, "with Aldi now holding 4.8% of it, up by 32.2% on the previous year, and Lidl gaining 19.5% more than the same quarter in 2013, as it sits pretty holding 3.6% of the market."

Meanwhile, the story says, "Tesco's unrelenting descent shows no signs of coming to a halt as, although it still holds the majority of the market with 28.9%, it was down by 3.8% … Asda took second place with 17% and Morrisons experienced the exact same decline as Tesco, as its market share dropped to 11%."

• In Minnesota, the Pioneer Press reports that "Hy-Vee said Tuesday it plans to open a supermarket in Oakdale, as its initial expansion into the Twin Cities metro area unfolds … That store would be the second Hy-Vee in the metro area, and the company plans to open more supermarkets in the Twin Cities in the coming years."

Hy-Vee said several other store sites "are in various stages of research and development."

• The Conference Board says that its July consumer confidence index hit 90.9, up from 86.4 in June and the highest since October 2007, before the recession hit.
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