Along with this week’s news that Amazon and Whole Foods are putting the finishing touches on their deal and have the government’s stamp of approval came word that as of Monday, the first official day of Amazon control, the days of Whole Paycheck are officially over. Old-school grocers, meet Jeff Bezos. And buckle up – NYTimes and WSJ and Bloomberg
Also, good luck with that 2% inflation goal now, Fed – Bloomberg
Masayoshi Son’s SoftBank (and its $93 billion Vision Fund) will bestow $4.4 billion on WeWork, the “fast-growing start-up that provides shared work spaces” – NYTimes and WSJ and Law360
With Harvey heading toward Category 3 or higher, all of East Texas [and its refining industry, to say nothing of everyone else] is bracing for some major ugliness ahead. Let’s hope we’re wrong about this one – Bloomberg and NYTimes
The DOJ has charged two Societe Generale execs with Libor manipulation based on their alleged submission of falsely lowballed rate info over a period from 2010 to 2011 – WSJ and Law360
In the end, naiveté can get you 7 fewer years, but it’s not good enough to spare you 5 in the clink. So learned Samsung heir Jay Lee today. He’s announced plans to appeal – NYTimes and WSJ and Bloomberg
Wells Fargo and US Bank have announced a deal to work with fintech startup Blend Labs to help shift more of their mortgage loan applications online—a move seen as helping the traditional lenders better compete with the likes of Rocket Mortgage and other online lenders – WSJ
Even as Chair Yellen and other economic movers and shakers mix it up at Jackson Hole this weekend, speculation is running wild about the potential end of her tenure after one term—a move that the Times says could see the departure of current Fed policy, too – NYTimes
A sizeable chunk of the country will be tuning in (or at least tracking) Saturday night’s bout between Mayweather and McGregor. This matchup between the undefeated boxer and the MMA fighter has been promoted to the hilt, but one important group—ringside docs—have serious reservations about it going forward at all – NYTimes
