Here we were watching Amazon for a Slack pick-up, and all the while it had its eyes set on Whole Foods. Jeff Bezos added the upscale grocery giant to Amazon’s expanding portfolio for $13.7 billion on Friday (perhaps kicking off a supermarket war in the process) – NYTimes and WSJ and Bloomberg
By the way, don’t expect business as usual for Whole Foods. Or the grocery business – NYTimes and WSJ and Bloomberg and MarketWatch
Meanwhile, in a [perhaps equally unexpected] move overshadowed by the Amazon deal on Friday, Walmart snapped up men’s outfitters Bonobos for $310 million. In acquiring Bonobos, which started 10 years ago as an online provider of chinos and has grown beyond pants and has even launched brick-and-mortar stores, Walmart is reportedly as interested in the brand’s tech-savvy as it is its clothes – NYTimes and WSJ
A recent Treasury Dep’t proposal would, if picked up by Congress, consolidate a good chunk of financial regulatory authority in the Financial Stability Oversight Council and allow the FSCO to designate lead regulators on certain complicated rule-making and enforcement actions – Law360
The departure of GE’s Jeff Immelt got the Times thinking about the end of the “Baronial CEO” era, with the mix of activist investors, technology, and lightning-fast global change combining to utterly disrupt what it means to be a titan of industry these days – NYTimes
On Friday, the Ninth Circuit refused to reconsider its May decision applying the Supreme Court’s 2015 Omnicare ruling to find that a pension fund “failed to sufficiently plead scienter or falsity” in a putative securities class action alleging that Align Technology misled investors about a 2011 acquisition it made – Law360
The latest sham-billing scandal, if a recent whistleblower lawsuit is to be believed, will soon challenge CenturyLink to explain why customers were charged for accounts they didn’t request – Bloomberg
The Times continues its ongoing exploration of the subprime auto-lending industry with this piece on what happens when the [seemingly inevitable] default occurs. Short answer: the car’s gone. The debt isn’t – NYTimes
Did you come away from the weekend with the sneaking suspicion that your grilling game needs some work? Never fear, Marketplace (and the CEO of the Nat’l Barbecue and Grilling Association) is here – Marketplace