Wow.

Amazon is buying Whole Foods. The online giant said Friday it was buying the high-end grocer for $42 a share in an all-cash deal, valuing the company at $13.7 billion. Here's what you need to know:

  • Grocery stores are getting clobbered
  • Pharmacies take a $10 billion hit as Amazon lands Whole Foods deal
  • Traders who were betting against Whole Foods dodged a bullet
  • Here's why Amazon is buying Whole Foods
  • Amazon could fix Whole Foods' biggest problem
  • Here's the letter Whole Foods just sent its customers who are furious about it "selling out"
  • The best jokes on Twitter about Amazon buying Whole Foods
  • The CEO of Whole Foods called activist investors "greedy bastards," and then struck a deal that will lead to a huge payday for one
  • Wall Street is handing Amazon $13.7 billion to buy Whole Foods
  • The Whole Foods CEO joked about Lloyd Blankfein right before Goldman Sachs helped Amazon buy his company
  • MARK CUBAN: Here's "the Amazon question" after the online retail giant spent $13.7 billion on Whole Foods
  • Millennials are buying everything online — except cars

In another deal, is acquiring

  • "My immediate thought was no way": Why Bonobos' founder made the 'contrarian' decision to sell his brand to Walmart
  • " target="_blank"Bonobos is now no longer cool": Walmart's takeover is infuriating some fans of the high-end menswear brand

In other news, Wall Street is seeing money pour in at a near record-setting pace. Goldman Sachs raised $7 billion to buy secondhand stakes in private equity funds. And one of the hottest hedge fund launches of the year might've found itself a name.

The Fed is repeating its mistakes of the 1970s, according to Minneapolis Fed President Neel Kashkari. And the Fed's 4th rate hike could challenge a popular assumption investors make about stocks

There were two developments this week that could have huge consequences for Russia's oil.

In non-Amazon tech news:

  • The US economy looks a lot like the period before the tech bubble
  • Traders betting against Snap have made a killing since its IPO
  • The maker of Angry Birds is thinking about going public
  • MORGAN STANLEY: There's one company pulling ahead in blockchain tech
  • A man who left finance for tech explains the difference between interviewing at JPMorgan and Google
  • BAML: These 7 stocks will be big winners in the sharing economy

In other news, these United emails reveal how terrified the airline has become of its customers. And a United Airlines employee brutally shoved an elderly passenger.

Lastly, the most powerful Audi R8 convertible supercar has arrived.