Patrick Semansky/AP

We may look back on June 16th "as the day retail changed forever," according to a report Monday by investment research firm Morningstar. That's the day Amazon bought Whole Foods for a whopping $13.7 billion and sent investors scurrying from grocery stocks, as they prepared for Amazon to bring its affinity for razor-thin profit margins to the supermarket segment.

The story of Amazon is of a company steadily spreading into new product categories and crushing the competition, but Morningstar argues that Amazon's reach does have its limits. Analyst R.J. Hottovy lists the following firms as "the most likely survivors" of Amazonization:

  • Lowe's: home improvement retailers benefit from the high price of shipping the bulky goods they have on offer;
  • Costco: The bulk retailer benefits from its gasoline business, an item that Amazon's Whole Foods doesn't sell.
  • Walmart: Even though America's largest retailer fights Amazon head on in most markets, Hottovy says Walmart's sheer scale and close relationships with suppliers means it can compete on price.

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Supreme Court won't block Rhode Island's eased absentee voting rules

Photo: Robert Nickelsberg/Getty Images

The Supreme Court said Thursday that it will not block Rhode Island's move to ease its requirements for absentee voting during November's election.

Why it matters: The decision is a loss for Republicans, who had requested an emergency order as the state is expected to begin mailing out its ballots.

Breaking down Uber and Lyft's threat to suspend services in California

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Uber and Lyft are ratcheting up the fight with California’s state government over the classification of drivers with a move that would deprive Californians of their ride-hailing services (and halt driver income).

Driving the news: On Wednesday, both companies said that if a court doesn’t overturn or further pause a new ruling forcing them to reclassify California drivers as employees, they’ll suspend their services in the state until November’s election, when voters could potentially exempt them by passing a ballot measure.

Trump announces normalization of ties between Israel and UAE

Israel Prime Minister Netanyahu, Trump and UAE Crown Prince Mohammed bin Zayed. Photo: Artur Widak/NurPhoto; Samuel Corum; Odd Andersen/AFP via Getty Images

President Trump announced a "historic" deal Thursday which will see Israel and the UAE open full diplomatic relations and Israel suspend its annexation plans in the West Bank.

Why it matters: This is a major breakthrough for Israel, which lacks diplomatic recognition in many Middle Eastern countries but has been steadily improving relations in the Gulf, largely due to mutual antipathy toward Iran.