The merger between Uber Technologies Inc. and Grubhub will likely be taken off the table over antitrust concerns raised with the potential deal, sources told CNBC. Instead, Grubhub is reportedly finalizing a deal to merge with Netherlands-based Just Eat Takeaway.com. It’s unclear why the merger negotiations broke down between Uber and Grubhub because none of the parties … Continue reading Uber-Grubhub Deal Falls Apart Continue Reading
A global savings surge amid the coronavirus lockdowns is forcing Goldman Sachs to shut off its Marcus savings accounts to new customers in the United Kingdom. Goldman is taking the surprising measure after its easy-access Marcus savings accounts, which feature significantly better returns than the anemic rates of traditional offerings, attracted $27 billion in deposits from 500,000 … Continue reading Goldman Closes Marcus UK To New Deposits Amid Savings Surge Continue Reading
To help facilitate global small and medium-sized business (SMB) trade, Morgan Goodwin has linked its EdgeCTP digital trade technology with the WU EDGE system of Western Union Business Solutions. The Scottish technology firm said SMBs receive a platform that lets them compete in international markets with EdgeCTP and WU Edge joined together, according to a Wednesday (June … Continue reading Morgan Goodwin Links EdgeCTP Trade Tech With Western Union Continue Reading
With the COVID-19 pandemic underway, consumer prices fell last month, led by drops in prices for motor vehicle insurance, energy and apparel. These price drops, reported by the U.S. Bureau of Labor Statistics (BLS) are in line with what has been going on all over America. Consumers were not out shopping for clothes, since most retailers were closed. And … Continue reading BLS: Consumer Price Index Fell In May Continue Reading
Online payment platform Trustly’s global expansion plans just got a big boost. A high-powered slate of investors led by BlackRock is buying a stake in Trustly, the fast-growing Swedish FinTech, its new investment partners announced in a press release. The BlackRock-led group is injecting capital into Trustly at a time when the company is building out its network, … Continue reading Trustly Nets Capital Infusion From Blackrock-led Investment Group Continue Reading
Simon Property Group (SPG) has abandoned its $3.6 billion purchase of Taubman Centers Inc. and filed suit against the Michigan-based mall owner over an alleged breach of a merger agreement. SPG, the nation’s largest mall owner, said Taubman, which has 26 shopping centers in the U.S. and Asia, allegedly violated two conditions of the deal, … Continue reading Simon Drops $3.6B Mall Deal, Sues Taubman Centers Continue Reading
Amazon is left cooling its heels again in its bid to buy a piece of Deliveroo, a top food delivery service in the United Kingdom. Britain’s Competition and Markets Authority (CMA) on Wednesday (June 10) announced that it would push off for two months a decision on whether to let Amazon push forward with plans to buy a … Continue reading UK Regulators Extend Hold On Amazon/Deliveroo Dea Continue Reading
It looks like a much-anticipated Uber Eats-Grubhub merger that might have changed the entire food delivery landscape won’t be coming to fruition after all. Uber is reportedly looking increasingly likely to pull out of merger talks, as antitrust concerns around the potential deal have started to spring up. The possibility of such a tie-up had already raised alarms from … Continue reading The Uber-Grubhub Deal Might Go Bust, But Food Delivery Keeps Cooking Up Consolidation Continue Reading
As a result of the COVID-19 health crisis, Starbucks anticipates a loss of for its fiscal third quarter as it forecasts a loss in revenue of up to $3.2 billion, CNBC reported. The quick-service coffee chain is predicting 64 cents to 79 cents in net loss for each share, and 55 cents to 70 cents in adjusted losses per … Continue reading Starbucks Speeds Up Digital Shift As It Forecasts Q3 Loss Amid Pandemic Continue Reading
U.K.-based The Restaurant Group, which serves up casual dining, reportedly plans to close 125 locations. That’s a big chunk of its stores, which include the Wagamama and Frankie & Benny’s chains. The latter will take the lion’s share of the hit. The closures come as the restaurant business in the U.K., and elsewhere, reels from the shutdowns caused … Continue reading The Restaurant Group To Slash 125 UK Locations Continue Reading