Amazon buys Whole Foods; Latinos wary of U.S. banks; North Korea money laundering

Profitable Moment   Let the Brexit talks begin  On Monday the formal Brexit negotiations begin in Brussels. Until recently the two sides have been discussing various housekeeping issues. Now it's time they get down to the nitty gritty, starting with the rights of EU/UK citizens, Northern Ireland and the Brexit Bill.   This is an appalling time for the U.K. to be embarking on this adventure. The nation has grieved over three recent terror attacks, the prime minister is beleaguered and the economy is weakening. But you don't always get to pick the circumstances of your choosing…   Three months have already been wasted since the U.K. invoked Article 50 – now there really is no time to waste. Remember the words of Guy Verhofstadt: If they don't get on with it soon, time will run out and it will truly be a brutal Brexit.                                                                                  -Richard.Quest@cnn.com  What's new... what's next   By Patrick Gillespie of CNNMoney 1. Amazon to buy Whole Foods for $13.7 billion Amazon is making a big bet on brick-and-mortar stores and the food business. It plans to buy Whole Foods for $13.7 billion in cash. Whole Foods will still operate as a separate company but there's already buzz about what Amazon's acquisition means for its online delivery service AmazonFresh. The news sent Whole Foods stock soaring 29% Friday and it crushed competitors like Kroger, which saw its stock tank. Amazon CEO Jeff Bezos is now arguably the smartest man in business.  2. FlipKart: Amazon's competition in India Amazon could soon be facing a much tougher opponent in one of its most important markets outside the United States. FlipKart, Amazon's top rival in India, is on track to complete takeovers of two big local competitors that will boost its arsenal in the battle for the country's online retail crown. Amazon is the second biggest e-commerce giant in India. FlipKart just upped the ante.  3. U.S. charges Chinese firm for laundering North Korean funds The U.S. has moved to seize nearly $2 million from a Chinese company that it says laundered money for North Korea. American prosecutors allege the Chinese trading firm, Mingzheng International Trading, acted as a front company to quietly move funds through the U.S. financial system for Foreign Trade Bank, a major North Korean lender that's currently under U.S. sanctions. Mingzheng didn't respond to a request for comment.  4. Latinos still wary of U.S. banks after crisis Nearly a decade after the financial crisis, Latinos say they worry that the same reckless behaviors that precipitated it could make a comeback. Latinos were one of the primary victims of predatory lending practices during the financial crisis. Many borrowers were forced to default. Latinos lost their homes more than any other racial or ethnic group between 2007 and 2010. Now in a recent survey, 81% of Latinos say that if the Trump administration repeals key parts of the financial reform known as Dodd-Frank, history could repeat itself.  5. Quick Takes: McDonalds will no longer be a sponsor for the Olympics  China accomplishes milestone to create hack-proof communication Internet censorship is on the rise in India U.S. consumer confidence falls to lowest level since Trump's election Katy Perry broke a Twitter record  6. What's next: Paris Air Show: The circus in the sky is back. The 52nd Paris Air Show kicks off Sunday. Look for some of the world's most incredible planes.  Brexit talks start Monday: As Richard notes, it's time for the nitty gritty.  Make this newsletter better. Please send us your feedback to CNNMoneyfeedback@turner.com Share Tweet Forward Sign up for CNN Money's morning markets newsletter: Before the Bell Sign up for CNN Money's closing markets newsletter: Markets Now Copyright © 2017 Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved., All rights reserved. You're receiving this newsletter because you opted in at cnn.com or cnnmoney.com. Our mailing address is: Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved. One CNN Center Atlanta, GA 30303 Add us to your address book unsubscribe from this list    update subscription preferences