First it was bookstores. Then retailers. Now, grocers. Amazon has experimented with various industries, but never really taken a deep dive like this. Amazon announced Friday out of the blue that it will acquire Whole Foods for $13.7 billion. The news sent shockwaves throughout the grocery industry, as well as with big box retailers, with Wal-Mart, Target, Costco, Kroger, and other competitors seeing shares plummet on the news. Now there’s speculation that another player might come in and outbid Amazon. Who could realistically make that happen? And who’s most likely to come out on top?
Read The Capitalist’s Take Here
Read More at USA Today Here
Read More at MarketWatch Here
SEVEN SAILORS FOUND DEAD AFTER US NAVY DESTROYER COLLIDES WITH SHIP OFF COAST OF JAPAN
Seven missing sailors from the USS Fitzgerald were found dead in flooded berthing compartments following the warship's collision with a merchant vessel, a US military official said.
The Navy's 7th Fleet said searchers found the bodies Sunday morning, Japan time, after the guided-missile destroyer returned to its base in Japan.
“This loss is something we all feel,” Vice Adm. Joseph Aucoin, commander of the US 7th Fleet, told reporters alongside the ship at Yokosuka Naval Base in Japan Sunday.
“We have found a number of the remains … of our missing shipmates, and our deepest sympathies go out to the families of those shipmates,” he said.
Read More at CNN Here
Read More at Reuters Here
Read More at NBC News Here
GOOGLE SAID TO BE FACING RECORD HIGH E.U. ANTITRUST FINES BY AUGUST
European antitrust officials are preparing to hit Google with a potentially record fine by the end of August over some of the Silicon Valley giant’s search services, according to two people with direct knowledge of the case.
Margrethe Vestager, the European Union’s competition chief, is in the final stages of ruling on the case, said the people, who spoke on the condition of anonymity because they were not authorized to talk publicly. Any financial penalty is expected to be larger than the fine of 1.06 billion euros, now about $1.2 billion, then about $1.4 billion — at the time the highest ever — that Intel was forced to fork out for antitrust abuses in Europe in 2009.
Read More at NY Times Here
Read More at CNBC Here
Read More at Wall Street Journal Here
– Friday, June 16th
Markets See Flat Finish as Amazon/Whole Foods Deal Sends Shockwaves Across Industries
Big Insider Trades
– Electronic Arts, Inc. (EA) CFO Blake Jorgensen Sells $1m
– Revlon, Inc. (REV) Director Ronald Perelman Buys $1.2m