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Amazon shocked the world last week when it announced a $US13.7 billion deal to buy organic-grocer Whole Foods — a warning shot that officially put competing grocers on notice and sent their shares tumbling.
In a town hall meeting the day the deal was announced, Whole Foods CEO John Mackey shed light on how the deal went down — and it’s unorthodox. Here’s what you need to know:
- “Love at first sight”: The bizarre story of how Amazon’s deal for Whole Foods went down
- “Whole Foods changed my life:” The deeply personal story a top Amazon exec shared after clinching a $US13.7 billion deal
- WHOLE FOODS CEO: We focused on employees at the “expense of our customers”
- Whole Foods CEO reveals $US13.7 billion Amazon deal came to him in a dream
- Amazon’s rivals “will do anything” to make the company pay more for Whole Foods
- Amazon’s Whole Foods deal casts a huge shadow on Blue Apron’s IPO
- Jeff Bezos handed a windfall to traders who are betting against grocers
- Whole Foods’ CEO hinted at another brand under Amazon
- The chief market strategist at a $US1.3 trillion investment firm breaks down Amazon’s ‘disruptive’ Whole Foods deal
- Jeff Bezos is very close to overtaking Bill Gates as the richest person in the world
On Wall Street, Jefferies sent out a worrying signal for Wall Street trading. Japanese bank Nomura is planning to take on Wall Street. Goldman Sachs’ new online lending business has already hit a $US1 billion milestone. Goldman Sachs CEO Lloyd Blankfein also explained why he started antagonizing President Trump on Twitter.
The ‘Fearless Girl’ on Wall Street is racking up advertising awards at Cannes. Here’s why people are still talking about the Wall Street statue from a $US2.5 trillion fund manager.
And it’s intern season on Wall Street, so we put together 32 life hacks to help you survive life in NYC.
Over in the UK, the Serious Fraud Office charged Barclays and four former executives with “conspiracy to commit fraud” and with receiving “unlawful financial assistance” after a probe into a 2008 capital raising funded by Qatari investors. Former chief executive John Varley was among the four individuals charged.
And billionaire investor George Soros has warned that Brexit is a “lose-lose proposition” which will trap the UK in a spiral of growing household debt, collapsed consumer spending, and falling living standards.
In other news, a startup wants to regenerate the heart and brain to keep people healthier for longer. The Trump administration is gearing up to take an official stance on prescription drug prices. And Martin Shkreli wants to cut his bail by $US3 million to pay back taxes and his lawyers after reporting a $US70 million net worth.
The company behind the $US1000 strollers used by Gwynneth Paltrow and Victoria Beckham is up for sale.
Lastly, here’s the century-old technology delaying the New York City subway every day.
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