What you need to know on Wall Street today
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- Grocery stores are getting clobbered
- Pharmacies take a $10 billion hit as Amazon lands Whole Foods deal
- Traders who were betting against Whole Foods dodged a bullet
- Here's why Amazon is buying Whole Foods
- Amazon could fix Whole Foods' biggest problem
- Here's the letter Whole Foods just sent its customers who are furious about it "selling out"
- The best jokes on Twitter about Amazon buying Whole Foods
- The CEO of Whole Foods called activist investors "greedy bastards," and then struck a deal that will lead to a huge payday for one
- Wall Street is handing Amazon $13.7 billion to buy Whole Foods
- The Whole Foods CEO joked about Lloyd Blankfein right before Goldman Sachs helped Amazon buy his company
- MARK CUBAN: Here's "the Amazon question" after the online retail giant spent $13.7 billion on Whole Foods
- Millennials are buying everything online - except cars
In another deal, Walmart is acquiring Bonobos, the high-end men's retailer, for $310 million in cash. Here's what you need to know:
- "My immediate thought was no way": Why Bonobos' founder made the 'contrarian' decision to sell his brand to Walmart
- "Bonobos is now no longer cool": Walmart's takeover is infuriating some fans of the high-end menswear brand
In other news, Wall Street is seeing money pour in at a near record-setting pace. Goldman Sachs raised $7 billion to buy secondhand stakes in private equity funds. And one of the hottest hedge fund launches of the year might've found itself a name.
The Fed is repeating its mistakes of the 1970s, according to Minneapolis Fed President Neel Kashkari. And the Fed's 4th rate hike could challenge a popular assumption investors make about stocks
There were two developments this week that could have huge consequences for Russia's oil.
In non-Amazon tech news:
- The US economy looks a lot like the period before the tech bubble
- Traders betting against Snap have made a killing since its IPO
- The maker of Angry Birds is thinking about going public
- MORGAN STANLEY: There's one company pulling ahead in blockchain tech
- A man who left finance for tech explains the difference between interviewing at JPMorgan and Google
- BAML: These 7 stocks will be big winners in the sharing economy
In other news, these United emails reveal how terrified the airline has become of its customers. And a United Airlines employee brutally shoved an elderly passenger.
Lastly, the most powerful Audi R8 convertible supercar has arrived.