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Employees prepare fresh food at Amazon Go's first location in Seattle. Photo: Mike Kane / Bloomberg via Getty Images

Amazon is breaking into the brick-and-mortar retail market with Amazon Go, its automated convenience store that opens tomorrow in Seattle, Recode reports. At Amazon Go, shoppers will be able to purchase meals and snacks without waiting in checkout lines. After scanning their smartphones upon entry, their purchases will be monitored by a combination of cameras and sensors placed around the store.

Why it matters: News of Amazon buying Whole Foods — whose branded products have a prominent section in the new store — clobbered share prices of Walmart and Kroger last year. With the Amazon Go concept, the e-commerce giant hopes to chart the future of brick-and-mortar retail.

Go deeper

Janet Yellen confirmed as Treasury secretary

Janet Yellen. Photo: Alex Wong/Getty Images

The Senate voted 84-15 to confirm Janet Yellen as Treasury secretary on Monday.

Why it matters: Yellen is the first woman to serve as Treasury secretary, a Cabinet position that will be crucial in helping steer the country out of the pandemic-induced economic crisis.

Dan Primack, author of Pro Rata
4 hours ago - Economy & Business

Scoop: Red Sox strike out on deal to go public

Illustration: Sarah Grillo/Axios

The parent company of the Boston Red Sox and Liverpool F.C. has ended talks to sell a minority ownership stake to RedBall Acquisition, a SPAC formed by longtime baseball executive Billy Beane and investor Gerry Cardinale, Axios has learned from multiple sources. An alternative investment, structured more like private equity, remains possible.

Why it matters: Red Sox fans won't be able to buy stock in the team any time soon.