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☆ More Americans are moving to Tuscany, where their money goes further, the pace is slower, and the wine flows freely
▼ + stars: | 2024-03-02 | by ( Jordan Pandy | Reed Alexander | ) www.businessinsider.com time to read: +14 min

More Americans are moving to Tuscany, a part of Italy known for medieval walled cities and wine. Some locals say it's keeping their economy alive, but others are starting to grumble. The influx of Americans, locals said, can be at once a booster of fortunes and an irritating imposition. "A lot of locals say that a place like Montepulciano cannot handle all those tourists because it's a small city," said Tudor, the jeweler. Americans, Ercolani said, "spend money and they appreciate the quality of the food and the wine that we have."

Persons: —, Leanne Davis, Davis, Jon Chewning, Chewning, It's, Georgette Jupe, Knight Frank, Florence ., they're, we've, Frances Mayer's, it's, Michele Capecchi, Capecchi, Erin Lewis, Lewis, Danilo Romolini, Luca Tudor, AJ Tuscany, Tudor, who's, Sam D'Avanzo, dell'Anfiteatro, Frank Bienewald, they've, lockdowns, Jupe, Bendetta, Cantina Ercolani, Ercolani Organizations: Service, Business, Associated Press, US Department of State, Italian National Institute of Statistics, away.com, Christie's, Estate, Locals, International School of Florence Locations: Tuscany, Italy, California, Romano, Sacramento, Montepulciano, Florence, Boccheggiano, Lucca, Siena, American, Europe, Rome, Venice, Chiusi, Austin , Texas, Houston , Texas, Italian, Switzerland, Albanian

☆ Delivery Hero says it hit 2023 sales growth targets in early results after 26% stock plunge
▼ + stars: | 2024-02-05 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Delivery Hero CEO Niklas Östberg speaking at the Noah tech conference in Berlin on June 13, 2019. Delivery Hero said the results were driven by healthy order growth in many of its geographies. Most notably, Delivery Hero also gave some rosy guidance for 2024, with the delivery company forecasting group GMV growth of 7-9% for the year, higher than its performance in 2023. Delivery Hero said it would publish additional preliminary numbers for the fourth quarter in a trading update slated for Feb. 14, when it was originally due to report numbers. Delivery Hero is one of the largest food delivery services globally with more 2.2 billion users.

Persons: Niklas Östberg, Britain's Deliveroo Organizations: Noah, Analysts Locations: Berlin, Indonesia

☆ Deutsche Bank just cut its price target on nearly 30 global stocks ahead of earnings — and upgraded 1
▼ + stars: | 2023-10-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Ahead of the upcoming earnings season, Deutsche Bank has cut price targets on nearly 30 European stocks this week and upgraded just one to "buy." The bank's biggest cut to price target was for Denmark's energy giant, Orsted . In online food delivery, Deutsche Bank said its proprietary data shows demand stabilizing for takeaway apps across markets it monitors. Elsewhere in the European utility sector, the investment bank struck a positive tone in its outlook despite the price target cuts. Deutsche Bank analysts prefer integrated utilities like RWE , Enel , SSE , and E.ON , reiterating "buy" ratings on the stocks but lowering their price targets by 2% and 12%.

Organizations: Deutsche Bank, E.ON, Fineco Bank Locations: Swiss, Enel

☆ Deliveroo lacks tasty recipe for takeover call
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

LONDON, Sept 14 (Reuters Breakingviews) - Deliveroo’s (ROO.L) valuation makes it a plausible takeover target, but Chief Executive Will Shu has a weak hand in negotiating any deal. Activist investor Sachem Head Capital Management has built a stake in the London-listed food delivery company, Bloomberg reported late on Wednesday. Share prices of Deliveroo rose nearly 5% on Thursday morning. That’s below the 1.5 times average of rivals Delivery Hero (DHER.DE), Just Eat Takeaway.com (TKWY.AS), HelloFresh (HFGG.DE) and DoorDash (DASH.N). Lastly, Delivery Hero and Amazon’s 5% and 12.5% stakes could complicate any deal.

Persons: Will Shu, LSEG, Uber, Karen Kwok, BoE, Neil Unmack, Streisand Neto Organizations: Reuters, Head Capital Management, Bloomberg, X, Treasury, Thomson Locations: London

☆ Cava and Sweetgreen see delivery orders fall as customers pick up their own food
▼ + stars: | 2023-08-16 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Delivery orders are typically more expensive, thanks to added fees and tips for delivery drivers. But delivery orders have also become an important contributor to restaurants' revenue because customers' receipt totals are higher. Cava's second-quarter sales growth wasn't hurt by softening delivery sales, but the Mediterranean chain's full-year forecast was cautious. After same-store sales growth of 28.4% for the first quarter and 18.2% for the second quarter, Cava is anticipating same-store sales growth of just 13% to 15% for the full year. Uber said its second-quarter delivery sales rose 14%, while DoorDash's total orders climbed 25%.

Persons: Sweetgreen, Mitch Reback, Cava, Tricia Tolivar, didn't, Uber Locations: Cava, North America

☆ One of Europe's biggest food delivery firms doubles down on Middle East with $300 million Saudi deal
▼ + stars: | 2023-07-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Delivery Hero, the German online food delivery company, said Friday that it is taking full ownership of its Saudi subsidiary in a transaction valued at $297 million. Shares of Delivery Hero were down 1.4% during afternoon trade. Delivery Hero is one of Europe's biggest food delivery companies, commanding a $10 billion market value. HungerStation connects more than 10,000 partners, including restaurants and grocery stores, with customers, Delivery Hero said in a statement Friday. The deal will help the firm build stronger ties with HungerStation and the rest of the company's portfolio, Delivery Hero added.

Persons: Niklas Östberg Organizations: Saudi Arabia —, HungerStation Locations: Saudi, HungerStation, Saudi Arabia, Berlin, Kingdom of Saudi, Germany, Netherlands

☆ These two globally competitive food delivery stocks will soar 120%, RBC says
▼ + stars: | 2023-06-29 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Shares of two online food delivery companies are expected to soar by 120% over the next 12 months, according to RBC Capital. The investment bank said that Delivery Hero and Just Eat Takeaway.com are making significant strides in the industry, despite facing a few challenges. DHER-DE 5Y line The RBC analysts compared the delivery services of major food delivery players in Delivery Hero's and Just Eat Takeaway.com's primary markets, including countries like the U.K., Germany, Spain, the United States, and South Korea. Despite these extra costs, the service remains attractive in the Middle East and North Africa, where Delivery Hero holds a leading position. RBC also believes that Delivery Hero and Just Eat Takeaway.com can further bolster profitability by improving gross margins.

Persons: Wassachon Udomsilpa, Richard Chamberlain Organizations: RBC Capital, RBC Locations: Berlin, Amsterdam, Germany, Spain, United States, South Korea, U.S, East, North Africa, Turkey

☆ Grubhub is laying off 15% of staff
▼ + stars: | 2023-06-12 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

New York CNN —Grubhub is laying off 400 corporate employees, about 15% of its workforce, amid higher costs and declining orders. “As a result, today we have made the very difficult decision to reduce headcount at Grubhub,” he said. Grubhub is letting go of about 400 employees, or 15% of staff. “We need to continually look at whether we are set up in the right way to deliver for our diners, restaurants and delivery partners.”Grubhub is competing with the likes of Uber Eats and Doordash for restaurants’ delivery business. The announcement today makes Grubhub the latest in a number of companies reducing staff.

Persons: New York CNN —, Howard Migdal, ”, “, ” Migdal, Andrew Kelly, Migdal, ” Grubhub, Uber Organizations: New, New York CNN, Reuters, Spotify, Tyson, Walmart Locations: New York, Grubhub, Amsterdam, North America, McDonald’s

☆ Grubhub lays off 15% of corporate workforce, or about 400 employees
▼ + stars: | 2023-06-12 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Food-delivery platform Grubhub laid off around 400 employees, or 15% of its corporate workforce, citing a need to maintain "competitiveness," the company's CEO said in a message to employees Monday. Grubhub said it would offer employees a minimum of 16 weeks severance but declined to comment on specific groups or positions that were impacted. The one-time public company was acquired by the Dutch multinational Just Eat Takeaway.com in 2021. Less than a year after the deal closed, Just Eat Takeaway said it was exploring the "partial or full sale" of Grubhub. A spokesperson for Grubhub did not immediately respond to a CNBC inquiry about whether the layoffs were connected to a potential sale process.

Persons: Uber, Grubhub, Howard Migdal Organizations: Bloomberg, CNBC Locations: Dutch

CNN —It’s all systems go for Prince William’s Earthshot Prize lately. Now we’re hearing about a new partnership between the Prince of Wales’ initiative and online video platform YouTube. But away from the glitzy awards ceremony, some have wondered about the real-world impact of innovation prizes like Prince William’s. “Not only because of Prince William but the full Earthshot team that is there in order to support all the finalists. And I think it’s incredibly helpful to share some of the challenges that we have found along the way.”In recent weeks, Prince William even dropped by Notpla’s headquarters in northeast London.

Persons: CNN —, Prince William’s Earthshot, Prince, Prince William’s, William, Prince Philip, King Charles III ., Wales, Alex Bramall, Charles, Prince of Wales, King, Rodrigo Garcia Gonzalez, Gonzalez, Pierre Paslier, ” Gonzalez, “, Notpla’s, ” William, Jonathan Brady, Prince William, “ It’s, Kin Cheung, William “, David Attenborough, Annie Randall, King Charles, ”, couldn’t, Buckingham, Duke, “ He’s Organizations: CNN’s Royal, CNN, London, Imperial College London, Windsor, Getty Locations: Singapore, Wales, Kensington, Boston, United Kingdom, London, Cornwall, It’s

☆ Uber rival Bolt seeks to turn profitable next year, IPO in 2025
▼ + stars: | 2023-05-08 | by ( Supantha Mukherjee | ) www.reuters.com time to read: +3 min

STOCKHOLM, May 8 (Reuters) - Estonian ride-hailing and food delivery startup Bolt expects to turn profitable in the next 12 months and be ready for an initial public offering in 2025, its Chief Executive Officer Markus Villig said in an interview. The company, a rival of Uber (UBER.N), was valued at over $8 billion when it raised 628 million euros from investors in January last year. "We expect to be the first European mobility platform that will be fully profitable over the next 12 months," said Villig, who doesn't have a driving license. Bolt, run by 29-year-old Villig, does not plan to raise external capital through another funding round but will get ready for an IPO instead. It also expects its grocery business to break even or turn profitable in two or three years.

Europe's biggest meal delivery company expects adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 275 million euros ($301.6 million) in 2023. It had in January forecast adjusted EBITDA of 225 million euros. Furthermore, the company said it expected its gross transaction value (GTV) growth to be in a range of -4% to +2% year-on-year in 2023. Just Eat Takeaway also said it launched a share buyback programme of up to 150 million euros to be completed by the end of the year, citing an improvement of future earnings per share and covering the company's obligations. Since its IPO in 2016, Just Eat Takeaway's share price lost close to 30% of its original value.

Diners said this forced them to pay artificially high prices for meals they ordered elsewhere. In response, the companies said that by accepting the terms of use for their platforms, diners agreed to arbitrate their claims individually and not pursue a class action in court. The diners' claims "are based solely on purchases made directly from restaurants or from non-defendant meal-delivery platforms," Kaplan wrote. Grubhub, Uber Eats, Postmates and their respective lawyers did not immediately respond to requests for comment. Grubhub is owned by Netherlands-based Just Eat Takeaway.com (TKWY.AS), while Uber Eats and Postmates are owned by Uber Technologies Inc (UBER.N).

☆ Grubhub is losing its second CEO in less than 2 years as owner explores sale of company
▼ + stars: | 2023-03-13 | by ( Nancy Luna | ) www.businessinsider.com time to read: +2 min

A year after Just Eat Takeaway.com bought Grubhub, the European firm said it wanted to sell it. Grubhub is in great hands with Howard and the Grubhub leadership team, and I'm excited to watch the company continue to thrive." Over the years, Grubhub has struggled to find its footing in the hyper-competitive food delivery sector. 1 food delivery operator. In January 2018, Grubhub had 49% of the food delivery market, according to Bloomberg Second Measure.

☆ Just Eat Takeaway swings to small 2022 core profit, sees better 2023
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

AMSTERDAM, March 1 (Reuters) - Just Eat Takeaway.com (TKWY.AS), Europe's largest meals delivery company, swung to a small 2022 core profit on Wednesday and said it was targeting 225 million euros of core profit this year. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) in 2022 stood at 19 million euros ($20.13 million), compared with a loss of 350 million euros in 2021. Jefferies said in a note that Wednesday's report showed most of the company's EBITDA, 313 million euros worth, came from Northern Europe. Revenue was 5.56 billion euros, up from 4.50 billion euros a year earlier, and net loss was 5.67 billion euros, up from a loss of 1.04 billion euros. The company ended the year with just over 2 billion euros in cash.

☆ Analysis: Europe Inc earnings season a test for market optimism
▼ + stars: | 2023-01-23 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

In a sign analysts were unprepared for such optimism, Citi's economic surprise indicator for the euro zone (.CESIEUR) jumped last week to its highest since July 2021. "Companies are telling us that it's going to be harder to pass on rising costs to customers in 2023 as economic growth slows," said Nigel Bolton, co-chief investment officer of BlackRock Fundamental Equities. Fourth-quarter earnings for STOXX 600 companies are forecast to have grown by 10.7% year-on-year, the slowest in two years, according to Refinitiv I/B/E/S data. Earnings are seen bouncing back to growth of 11.4% in the final quarter of the year. Analysts downgrade earnings forecastsReporting by Joice Alves Editing by Josephine Mason and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

The pan-European STOXX 600 (.STOXX) was up 0.1% by 0910 GMT, extending gains for a sixth straight day on boost from rate-sensitive technology stocks (.SX8P) and industrials (.SXNP). Richemont (CFR.S) rose 2% on reporting higher quarterly sales as tourists returned to Europe and Japan. Still, the luxury group missed market estimates after sales in China plunged by almost a quarter. "For luxury, China is quite important with more hopes of rebounding activity in the first half of this year," said Emmanuel Cau, head of European equity strategy at Barclays Investment Bank. Reporting by Bansari Mayur Kamdar and Ankika Biswas in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Just Eat delivers right takeaway orders, finally
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 18 (Reuters Breakingviews) - Food delivery boss Jitse Groen has started the new year with a glimpse of hope. Pleasing investors after a round of missteps, the Dutch company also forecast a higher-than-expected EBITDA of 225 million euros this year. The 5.6 billion euro ($6 billion) group’s results point to a brighter future than what Just Eat experienced in 2022. Less than a year after acquiring U.S. rival Grubhub, Groen made a U-turn by putting it up for sale and writing down the value of the division by 3 billion euros. All this happened while investors started to lose faith in the high-growth low-profit food delivery sector: Just Eat Takeaway lost 60% of its market value last year.

Elon Musk’s will-they-or-won’t-they Twitter debacle kept readers on tenterhooks via Refinitiv’s platforms and our two websites, Breakingviews.com and Reuters.com. Another piece posing the hard-hitting question, “What is Morgan Stanley (MS.N) smoking in Twitter LBO?”, garnered plenty of clicks on Breakingviews.com and via Refinitiv. Almost a third of the best-read lists tackled the outbreak of war in Europe, and its terrible ramifications. Views on the rouble and the prospect of the country’s economic collapse demanded attention. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Investor Cat Rock reduces stake in Just Eat Takeaway - SEC filing
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: 1 min

AMSTERDAM, Dec 16 (Reuters) - U.S. investor Cat Rock, previously the second-largest shareholder in meal delivery firm Just Eat Takeaway.com (TKWY.AS), has sold part of its stake, according to an SEC filing. The filing on Dec. 15 showed the stake standing at 4.93% with 10.65 million shares as of Dec. 12. Refinitiv data showed the investor had previously held around 14.79 million shares, or 6.85%. The largest shareholders in Just Eat are now founder Jitse Groen with 7.1%, Baupost Group with 6.5%, Caledonia Investments with 6.15%, and UBS Asset Management with 5.85%. Reporting by Toby Sterling Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ These global stocks made the biggest gains last week — and analysts give two over 100% upside
▼ + stars: | 2022-10-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Stock markets posted positive returns last week despite firmly remaining in a bear market more broadly. These are the 20 top stocks in the MSCI World index that saw gains of more than 15% last week, as of the close on Friday Oct. 21. On average, analysts' price target on Netflix is below its current share price, meaning the shares are expected to drop by roughly 3.8%. Dutch firm Just Eat Takeaway.com was one of the biggest gainers last week and is among the stocks with the biggest upside potential. On average, analysts expect Lyft to rise to $25 a share a 109.5% upside from its current share price.

☆ European shares reverse gains as investors focus on inflation
▼ + stars: | 2022-10-19 | by ( Amruta Khandekar | ) www.reuters.com time to read: +3 min

SummarySummary Companies STOXX 600 reverses early gainsUK inflation hits 10.1% in SeptemberASML posts upbeat earningsOct 19 (Reuters) - European shares reversed early gains on Wednesday, as investors fretted about runaway inflation and aggressive monetary policy tightening, even as upbeat corporate earnings soothed some fears about a recession. The region-wide STOXX 600 index (.STOXX) was down 0.5%, snapping a rally this week that was mainly driven by hopes of a better-than-expected earnings season and the UK's fiscal policy reversal. read more"Earnings numbers (are) all good but global inflation, macro events are going to take precedent," said Michael Baker, head of online services at Oval Money. read moreNestle (NESN.S) raised its full-year sales outlook, but the company's CEO raised concerns about the "challenging economic environment" affecting consumers' purchasing power. read moreSartorius (SATG.DE) dropped 13.9% after the German lab equipment maker said it expected 2022 revenue to reach the lower half of its outlook.

A Just Eat delivery man rides his bicycle in Nice amid the coronavirus disease (COVID-19) outbreak in France, February 16, 2021. The group last posted an underlying profit in the second half of 2020, said Clement Genelot, analyst at Bryan Garnier. Shares in the company see-sawed in early trade as investors weighed the return to profitability against concerns about falling orders. As part of the cost cutting measures, Groen said the company has introduced a hiring freeze. Just Eat is looking to expand its networks to include deliveries of other products and is currently exploring a number of pilot schemes, Groen said.

A Just Eat delivery man rides his bicycle in Nice amid the coronavirus disease (COVID-19) outbreak in France, February 16, 2021. REUTERS/Eric Gaillard/File PhotoOct 19 (Reuters) - Just Eat Takeaway.com (TKWY.AS), Europe's largest meal delivery company, said on Wednesday it made an underlying profit in the third quarter, sooner than expected, after cutting expenses on delivery costs and operations. The group said in September it expected to have positive earnings before interest, taxes, depreciation and amortisation (EBITDA) in the second half of the year. The company will hold an extraordinary shareholders meeting on Nov. 18 to vote on the deal worth $1.8 billion, it said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Diana Mandiá and Dagmarah Mackos; editing by Josephine Mason and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

The Supreme Court’s decision overturning Roe v. Wade creates new challenges for employers and health insurers covering abortion services, especially whether and how to pay for travel to states where the procedure remains available. Companies including Starbucks Corp., Uber Technologies Inc. and Amazon.com Inc. have said they would reimburse travel for medical services including abortion. Just Eat Takeaway.com N.V.’s Grubhub and Dick’s Sporting Goods said they would provide up to $4,000 to cover expenses traveling for services not available in their home state.

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