Amazon announced this week that it is acquiring One Medical, “a network of primary care clinics,” as part of its plans “to become a player in the health care industry.” The $3.9 billion deal still requires “approval from One Medical’s shareholders and regulators” - NYTimes and WSJ and MarketWatch and TechCrunch

The Feds have filed criminal and civil charges against former Coinbase employee Ishan Wahi and two associates for their alleged involvement in “an insider trading case involving confidential information about cryptocurrency assets that were about to be posted on Coinbase’s exchange” - NYTimes and WSJ and Bloomberg and MarketWatch and Law360 and Mashable

Meanwhile, over at Tesla, an internal probe has reportedly focused on top Musk lieutenant Omead Afshar—the head of the company’s Texas factory—over his “role in a plan to purchase hard-to-get construction materials” - Bloomberg

Toymaker Mattel posted strong Q2 earnings this week, with revenue up 20% “despite rising prices,” a sign that consumers still have their wallets open even in the face of “rising costs.” The company “swung to a profit of $66.4 million in the quarter after reporting a loss of $5.5 million last year” - NYTimes and WSJ

Stocks closed up again on Thursday, with the Nasdaq leading the way. Strong earnings reports (like Mattel’s, above) helped drive the indices into the black - WSJ and Bloomberg and MarketWatch

Your yield-curve-inversion primer now that “Wall Street’s most talked about recession indicator is sounding its loudest alarm in two decades” - NYTimes

Ford has struck a deal with a Chinese supplier to acquire more battery packs in an effort to “ramp up its global production of electric vehicles.” The agreement only affirms China’s position as global leader in the EV supply chain, especially in batteries, where is produces “about 80 percent of the cells that power lithium ion batteries” - NYTimes and WSJ and Bloomberg

Samsung is reportedly kicking around a possible $200 billion investment in “11 new chip-making plants in Texas over the next two decades, a mega splurge that if executed would dramatically boost its semiconductor foothold in the U.S.” - WSJ and Bloomberg

Since Covid’s apparently never going away, why not a fun little oral history of why they needed to pull out the saw for that Gwyneth autopsy in Contagion. You know, light stuff for your Friday – Slate

Stay safe, and have a great weekend,

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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