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Texans on Monday morning were about halfway through the worst of Hurricane Harvey’s rains, and as the storm began to return to the Gulf of Mexico, they braced for even more devastating flooding in much of the southeast section of the state.

Houston has already received more than two feet of rain, turning many roads into rivers as the city of 2.3 million people prepares for another two feet to fall in the coming days.

“This is a landmark event for Texas,” Brock Long, the Federal Emergency Management Agency administrator, said. “Texas has never seen an event like this.”

Here’s the latest:

In other news, Gilead announced it is acquiring the cancer-immunotherapy biotech Kite Pharma for $US11.9 billion, sending biotech stocks surging. The deal amounts to a $US12 billion endorsement for a revolutionary kind of cancer treatment.

On Monday, Amazon’s $US13.7 billion acquisition of Whole Foods formally went through, and the e-commerce giant didn’t waste any time in making changes. Here’s what you need to know:

In other news, Uber has picked Expedia CEO Dara Khosrowshahi to be its new CEO. Here’s what you need to know about the former investment banker.

Elsewhere, traders betting against Chipotle are making millions as avocado prices surge. GE is shifting the strategy for its $US12 billion digital business. The parent company of Saks Fifth Avenue is thinking about going private. And BuzzFeed is ditching its anti-banner ad stance to better cash in on its huge audience.

Lastly, here are the 15 best business books of all time.

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