Economy & Business

Business news

Weekly Wrap: Amazon buys Whole Foods. Now what?

Jun 16, 2017
GettyImages-450831338.jpg
Molly Wood

Linette Lopez of Business Insider and Leigh Gallagher of Fortune join us to discuss the week's business and economic news. Amazon announced today it’s buying the high-end food chain Whole Foods for $13.7 billion. We look into the ramifications of the acquisition and what other industries Amazon may look into next. At what point do antitrust factors come into play? 

Amazon shocks with news of Whole Foods bid

Jun 16, 2017

Amazon has agreed to buy Whole Foods in a roughly $13.5 billion deal. It would be Amazon's biggest acquisition to date, and it's generating headlines such as "earth shaking." Whole Foods has been underperforming a little lately. Its growth has slowed and activist investors have been after the chain to sell itself. But what's a digital retailer like Amazon want with all those old-school brick-and-mortar stores? And can it turn things around at Whole Foods? 

Click the audio player above to hear the full story.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

STEVE INSKEEP, HOST:

Amazon is adding to its retail empire by buying the Whole Foods grocery chain for $13.7 billion. NPR's Yuki Noguchi joins us now via Skype to discuss this deal. Hi, Yuki.

YUKI NOGUCHI, BYLINE: Good morning, Steve.

GettyImages-494517586%20%281%29.jpg
Paulina Velasco

Grilling is synonymous with Father's Day (though we're not sure why), and every Father's Day sale includes some reference to grilling or grilling paraphernalia. We're going to buy in to the mysterious relationship between father figures and barbecue by talking tips and techniques with Stuart Meyer, CEO of the National Barbecue & Grilling Association. He shared some choice pieces of wisdom with us.

1. How to tell if your meat is ready.

Crispr inventor worries about the unintended consequences of gene editing

Jun 16, 2017
dna_0.jpg
Molly Wood and Paulina Velasco

In 2012, Jennifer Doudna, along with a small group of scientists, invented a ground-breaking technology to edit DNA known as Crispr. Scientists are still experimenting with it.

When Mt. Everest's base camp is enough

Jun 16, 2017

Climbing Mt. Everest may seem like something you'd never do — and you probably won't. But what about getting to Everest base camp? That seems more accessible, and just as exciting and Instagram-worthy. All you have to do is hike along narrow paths and up steep inclines, withstand freezing temperatures and acclimate to high altitudes to reach Base Camp, which is just shy of 17,600 feet above sea level (that's at least 6,000 feet above the tree line).

Updated at 9:20 a.m. ET on June 19

Amazon is buying Whole Foods, in a merger that values Whole Foods stock at $42 a share — a premium over the price of around $33 at the close of trading on Thursday. The Internet retailer says it's buying the brick-and-mortar fixture in a deal that is valued at $13.7 billion.

Whole Foods, which opened its first store in Austin, Texas, back in 1980, now has 465 stores in North America and the U.K.

Trump restores some Cuba restrictions

Jun 16, 2017
GettyImages-696659150.jpg
Associated Press

MIAMI (AP) — President Donald Trump declared Friday he was restoring some travel and economic restrictions on Cuba that were lifted as part of the Obama administration’s historic easing. He challenged the communist government of Raul Castro to negotiate a better deal for Cubans and Cuban-Americans.

How to save money on a theme park vacation

Jun 16, 2017
1206_harry_potter.jpg
Eliza Mills

A family vacation to a theme park can be quite the ordeal. Wrangling kids for a big trip and spending long, hot days standing in line for rides or food is a test in and of itself. Add money into the mix, and a theme park vacation can seem like running the gauntlet. 

Ticket prices hover around $100 per person, per day for big parks like Disney World and Universal Studios. Then there's food and drinks, hotel, transportation. A family of four could easily spend thousands of dollars, depending on the details. 

Gerry Newman buys vanilla by the gallon. He's co-owner of Albemarle Baking Co., in Charlottesville, Va., and vanilla goes into everything from his cookies to pastry cream.

A few years ago, each 1-gallon bottle of organic, fair-trade vanilla set him back $64. Today, it's $245, more than Newman can comfortably stomach.

It's a global phenomenon, hitting pastry chefs and ice cream makers alike. Some have changed their recipes to use less vanilla. Newman has switched suppliers to find a cheaper product.

GettyImages-696041456.jpg
Marketplace

Time magazine's latest cover shows a familiar view, at least for the 40 million or so people who use Uber regularly: It's a bunch of tiny animated cars roving around a map on your phone, but they're all careening toward Uber's headquarters and ending in a fiery wreck.

The supermarket industry is about to undergo some big changes. Amazon has just announced it's purchasing Whole Foods in a deal worth $13.7 billion. On today's show, FTN Financial analyst Chris Low stopped by to discuss what a store from the two companies could look like and whether Amazon can improve Whole Foods' declining sales. Afterwards, we'll chat with the Financial Times' Rochelle Toplensky about a possible $1 billion penalty for Google from the European Union over its search engine. And finally, we'll look at the state of paternity leave in the U.S. 

clough_waterfront%20resize.jpg
Mrs. Richmond

The city of Cleveland, which sits on Lake Erie, has embarked on a sprawling waterfront development project. But Cleveland faces obstacles that are common in any town or city built along water: How do you retrofit an old industrial city?

Today’s version of Cleveland’s waterfront, with a new restaurant, museums and a park, has been a work in progress for a while. The land was first developed for industry — there’s a port where barges drop ore for the trip to the steel mill upriver and a municipal airport built on top of a landfill.

In most American cities these days, it seems like there's a Chinese restaurant on every other street corner.

But in the late 1800s, that ubiquity was exactly what certain white establishment figures feared, according to a new study co-written by Gabriel "Jack" Chin, a law professor at the University of California, Davis.

What an Amazon-Whole Foods store may look like

Jun 16, 2017
GettyImages-457267638.jpg
David Brancaccio

This story was last updated at 12:31 CT.

In a move that will reshape the supermarket business, the online retailer Amazon has announced it’s buying the high-end food chain Whole Foods in a deal worth $13.7 billion. That comes out to about $42 a share.

Pages