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☆ Britain looks to upstage France with play for world's third major AI hub after U.S., China
▼ + stars: | 2024-06-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

But key challenges face the country as it looks to become the world's third-biggest AI hub. At the London Tech Week conference in the Olympia events venue earlier this month, tech executives from around the world touted London and the U.K. as a place to invest. London vs. FranceLondon is facing heated rivalry from France for the title of European AI leader. Can the UK keep its European AI crown? Seeking regulatory clarityAnother key source of uncertainty for tech leaders is the future of AI regulation in the U.K.

Persons: Mike Kemp, Alex Kendall, — Kendall, Wayve's, Brent Hoberman, Wayve, it's, Salesforce, Janet Coyle, Coyle, Arthur Mensch, Hanno Renner, that's, Europe's, CNBC's, Philip Belamant, Zilch, Matthew Holman, Cripps, Holman Organizations: Global, London Tech, Sage, Google, London, Partners, Viva Tech, Accel, CNBC, Mistral France Paris, Alpha, Alpha Germany Heidelberg, Face France Paris, France Paris, United, United Kingdom London, Kingdom London, Tech, European Union Locations: London, United Kingdom, China, Olympia, SoftBank, San Francisco, Vancouver . U.S, France London, France, Brazil, Silicon, Europe, Paris, Berlin, Alpha Germany, Germany, Brexit, Britain

A DoorDash delivery person is pictured on the day they hold their IPO in the Manhattan borough of New York City, New York, U.S., December 9, 2020. Doordash shares fell 2% to $111.68 after the report, before recovering some of that loss. However this year, those shares were automatically converted into class A shares, Deliveroo's IPO prospectus shows. Online food delivery companies have looked to pivot away from unprofitable markets. New Tab , opens new tabSave Share XFacebookLinkedinEmailLink Purchase Licensing Rights

Persons: Carlo Allegri, Doordash, Deliveroo's, Will Shu, Shu, Deliveroo, Greg Orlowski, Tony Xu, U.S . Doordash, Uber, Amy, Jo Crowley, Abigail Summerville, Anousha Sakoui, Alexander Smith, Nick Zieminski Organizations: REUTERS, Companies, Deliveroo, Chevron, DST Global, Sunday Times, Financial Times, U.S ., Wolt, United Arab, Thomson Locations: Manhattan, New York City , New York, U.S, Chevron San Francisco, London, Taiwan, Deliveroo, France, United Arab Emirates, Hong Kong

☆ Meet the woman behind Dubai’s viral super-chunky chocolate bar
▼ + stars: | 2024-06-19 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +5 min

CNN —On TikTok, gooey, crunchy, loaded chocolate bars are going viral. Bursting with unusual fillings such as filo pastry, vanilla custard, or tea and biscuits, these chunky chocolate bars originate from Fix Dessert Chocolatier. It’s not just a chocolate bar, she says: “We want to create an experience.”The 38-year-old, who has been Dubai-based for nine years, launched the brand in 2021 as a side hustle. Inspired by her pregnancy cravings, the British Egyptian entrepreneur set out to create something more than the “typical” chocolate fix. The 200-gram chocolate bars, which retail for $20 each, are only available through food delivery service Deliveroo, with sales going live at 5pm daily.

Persons: ”, Sarah Hamouda, It’s, Maria Vehera, ingle, ike, ince, ideo, egan, hank Organizations: CNN, ust Locations: Dubai, British Egyptian, arak

☆ A food delivery driver who bit off a customer's thumb has been seen delivering food again
▼ + stars: | 2024-05-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Read previewA food delivery driver who pleaded guilty to grievous bodily harm after biting off a customer's thumb has been spotted delivering food again, the BBC reported. Though Deliveroo riders have to be over 18 with no unspent criminal convictions, it's historically been up to individual riders, not Deliveroo itself, to check that their substitutes meet this criteria. But after Rocha appeared in court, the BBC spotted her twice collecting food for delivery on her moped, it reported. "We take our responsibilities extremely seriously and are committed to preventing misuse of our platform," the spokesperson told BI. "We have strengthened our processes and recently introduced a new registration process and identity verification technology for substitute riders."

Persons: —, Jeniffer Rocha, Stephen Jenkinson, Jenkinson, Rocha, didn't, he'd, She's, Jenkinson — Organizations: Service, BBC, Business, Winchester Crown, Deliveroo

☆ Delivery Hero CEO happy to keep Asia unit Foodpanda 'forever' after stock plunged on sale outlook
▼ + stars: | 2024-02-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Delivery Hero shares surged 11% Wednesday afternoon in European trading, extending gains from earlier in the day. Delivery Hero, one of Europe's largest food delivery apps, has faced recent pressure from investors over its ability to make a solid return on businesses it's wholly or partly acquired. Now, Delivery Hero is attempting to claw back from the brutal share price plunge, which brought the company's stock to its lowest level since 2022. That came after Delivery Hero announced a deal to divest its entire stake in the British food delivery company Deliveroo. Delivery Hero at the time denied the report and pushed back on speculation that a collapse in talks was imminent.

Persons: Niklas Ostberg, Foodpanda, Ostberg, breakeven Organizations: New Straits Times, CNBC, Foodpanda, Shareholders Locations: Southeast Asia, Deliveroo

Thousands of ride-hailing and delivery workers in the U.S. and the U.K. went on strike on Valentine's Day, calling for higher pay and other changes to their working conditions. In the U.S., Uber and Lyft drivers planned daylong strikes in Chicago; Philadelphia; Pittsburgh; Miami; Orlando and Tampa, Florida; Hartford, Connecticut; Newark, New Jersey; Austin, Texas; and Providence, Rhode Island. Drivers were also holding midday demonstrations at airports in those cities, according to Justice for App Workers, the group organizing the effort. Meanwhile, U.K. delivery drivers for Uber Eats, Deliveroo, Just Eat and Stuart said they would turn off their apps and refuse deliveries between 5 p.m. and 10 p.m. Justice for App Workers, which says it represents 130,000 ride-hailing and delivery workers, is seeking higher wages, access to health care and an appeals process so companies can’t deactivate drivers without warning.

Persons: Uber, Stuart, ”, Evadur Rahman, Rahman, “, ” Rahman, “ It’s, ” Uber, Deliveroo, Rachel Gumpert, Lyft, ” Lyft, Jill Lawless, Brian Melley Organizations: App Workers, Associated Press, deactivations, U.S, ___ Associated Press Locations: U.S, Chicago, Philadelphia, Pittsburgh, Miami, Orlando, Tampa , Florida, Hartford , Connecticut, Newark , New Jersey, Austin , Texas, Providence , Rhode Island, London, ___

☆ Uber, Lyft and Deliveroo workers in US and UK plan Valentine’s Day strike
▼ + stars: | 2024-02-13 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Thousands of drivers for ride hailing services and food delivery riders in the United States and United Kingdom are planning to strike on Valentine’s Day in disputes over pay and working conditions. Meanwhile, in the UK, a spokesperson for campaign group Delivery Job UK said more than 3,000 food delivery riders were expected to strike for five hours on Wednesday. Riders participating in the strike are primarily Portuguese-speaking and work across multiple platforms, including Uber Eats, Deliveroo and Just Eat. “Valentine’s Day is a celebration of love, but it should not overshadow our struggle,” it added. The company said GMB, one of Britain’s largest unions, was now able to represent up to 70,000 Uber drivers across the country.

Persons: Uber, “, Uber Eats, Deliveroo, ”, Lyft, DoorDash, GMB Organizations: London CNN, App Workers, DoorDash, Riders, London Locations: United States, United Kingdom, America, East Coast, Midwest, Chicago, Miami

☆ 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

☆ Delivery Hero plunges to record low after selling stake in food delivery rival Deliveroo
▼ + stars: | 2024-01-30 | by ( Ryan Browne | ) www.cnbc.com time to read: 1 min

Shares of German food delivery company Delivery Hero fell to a record low Tuesday after announcing it was selling its minority stake in rival firm Deliveroo . The stake sale will fetch roughly £76.8 million for Delivery Hero. The proceeds represent less than a third of what Delivery Hero paid for the shares when it first bought them in 2021, Reuters reported. Deliveroo shares reacted negatively to the news, plunging as much as 7% Tuesday. Delivery Hero shares sank nearly 6% to hit a record low.

Persons: Deliveroo Organizations: Reuters Locations: Victoria, London, England, Deliveroo

☆ A man was forced to close his car-sharing app after criminals used it for drug deals and illegal driving
▼ + stars: | 2023-11-29 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

But Andy Hibbert was forced to close it after criminals dealt drugs out of the cars. "Once criminals learn a weakness, it's pretty viral in the underworld," Hibbert told the BBC. AdvertisementA man launched a car-sharing app based on Airbnb's business model — but was forced to close it after criminals used the cars for drug deals and illegal driving, according to the BBC . Hibbert told the outlet that there were only about 30 incidents like this out of 19,000 rentals, but that dealing with them cost time and money. "Once criminals learn a weakness, it's pretty viral in the underworld," Hibbert told the outlet.

Persons: Andy Hibbert, " Hibbert, —, Hibbert, Hibbert didn't Organizations: BBC, Service, Business Locations: London, Ukraine

☆ Elon Musk takes aim at Ireland's prime minister following the Dublin riots: He 'hates the Irish people'
▼ + stars: | 2023-11-26 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

Elon Musk hit back at the PM, saying he "hates the Irish people." AdvertisementElon Musk said that Ireland's Prime Minister Leo Varadkar "hates the Irish people" after he called for incitement to hatred legislation to be updated as violence erupted across Dublin city center this week. Brian Lawless - PA Images / GettyIn response to the riots, Varadkar called for laws on incitement to hatred to be modernized. Elon Musk has since weighed in on Varadkar's comments, saying in a post on X, formerly Twitter, that the prime minister "hates the Irish people." AdvertisementIronically, the Irish PM hates the Irish people — Elon Musk (@elonmusk) November 24, 2023"The current Irish government clearly cares more about praise from woke media than their own people," Musk added in another post.

Persons: Ireland's, Elon Musk, —, Leo Varadkar, Drew Harris, Harris, Brian Lawless, Varadkar, it's, — Elon, tDqVn2OmR0 — Kevin Doyle, @KevDoyle_Indo, Caio Benicio Organizations: Twitter, Service, Ireland's, Advertisement, Irish Independent, Politico, PM, Black Americans, Defamation League, New York Times, BBC News NI Locations: Dublin, Ireland, Irish, Algeria, Brazil

But the court ruled that the right to collective bargaining applies only when there is an “employment relationship” between the workers and the company. Deliveroo riders aren’t employees because their contract gives them the “virtually unfettered right” to pass deliveries on to someone else, the court said. Deliveroo welcomed the decision, saying it confirmed lower court rulings that the company’s riders are self-employed. “This is a positive judgment for Deliveroo riders, who value the flexibility that self-employed work offers,” the company said in a statement. “This dangerous false dichotomy between rights and flexibility is one that Deliveroo and other gig economy giants rely heavily upon in efforts to legitimize their exploitative business models.”

Persons: —, Uber, Deliveroo, Deliveroo ”, Nick Hawkins, ” Hawkins Organizations: Independent Workers Union of, European, Human, Deliveroo, Knights Locations: Independent Workers Union of Great Britain

☆ UK tells Uber Eats, Deliveroo and Just Eat to tighten rider account controls
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] A man pushes a trolly of Coke cans as an Uber Eats rider passes by in Brick Lane in London, Britain, April 1, 2023. Food delivery companies make initial checks on those who want to work for them, ensuring their age and their legal right to work in Britain. Riders work for the meal delivery companies on a self employed basis that gives them a legal right to subcontract deliveries to a substitute. "This includes ensuring couriers are over the age of 18, carrying out basic criminal checks (DBS), and making sure they have the right to work in the UK." Deliveroo said it had "a zero tolerance approach" towards any rider who failed to meet their legal obligations.

Persons: Uber, Kevin Coombs, Robert Jenrick, Deliveroo, Sarah Young, Paul Sandle, William James, Tomasz Janowski Organizations: REUTERS, Office, Thomson Locations: Brick Lane, London, Britain

☆ GoStudent, the $3 billion edtech darling, scaled fast and partied hard. The result was a mess.
▼ + stars: | 2023-10-24 | by ( Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com time to read: +23 min

These people were employees of GoStudent, an Austria-based online-tutoring startup that had quickly become the darling of the European tech scene. But 28 current and former GoStudent employees and tutors said they experienced a poorly run organization with clumsy management. Edtech companies "rarely have any major competitive advantage other than scale," a European venture capitalist who's not affiliated with GoStudent said. A GoStudent employee threatened to track down the petition's author using tutors' IP addresses, according to the German publication Handelsblatt. According to public documents updated in December 2022, GoStudent had shrunk to 15 markets and 1,500 employees, including its acquisitions.

Persons: Felix Ohswald, Gregor Müller, GoStudent, who'd, I'm, Heinz, Peter Meidinger, cofounders, Ferdinand von Hagen, Prada, GoStudent's, Dave Benett, Müller, —, Ohswald, Anthony Canavan, Canavan, Brutkasten, Norbert Wess, Harry Murphy, Duncan McIntyre, McIntyre, Neel Gupta, Anna Tuchy, Patrick Nadler, Nadler, Sarah Heuberger, Ross Slater Organizations: German Teachers ' Association, Employees, GoStudent, Conseil, prud'hommes, DBS, Safety Officers, Web, Getty, JP Morgan, Barclays, Deutsche Bank, TechCrunch, Organisation for Economic Cooperation Locations: Vienna, Austria, Silicon Valley, North America, South America, Europe, London, France, Soho , London, Dock, DACH, Germany, Switzerland, Spanish, Sweden, Swedish, GoStudent, Ukraine, Ibiza, GoStudent's, Deliveroo

☆ Inside the implosion of dark kitchen startup Kbox Global, another pandemic-era boom beginning to bust
▼ + stars: | 2023-10-23 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +8 min

In 2019, after years of investing in and setting up food and beverage brands internationally, she founded dark-kitchen startup Kbox from London. But two years after this funding, large for an early-stage European startup, Vellani exited the business suddenly, citing health issues. "You're only judged on food quality, but if the chef is doing 10 times the work for same money, then it's a fundamental problem." Both Uber Eats and Deliveroo, after an initial burst of interest, would eventually go on to cut back on virtual brands. In an email comment, Vellani acknowledged her lack of direct technical experience but said she sought to fix this through other C-suite hires.

Persons: Salima Vellani, Uber, Travis Kalanick, Vellani, Butler, CloudKitchens, Kbox, MrBeast Burger, YouTuber MrBeast, Jimmy Donaldson, Influencer Jimmy Donaldson, Burger, Brexit, Vellani didn't, Karim Vellani, Karim, Ben Schultz, Nick Holloway, I've Organizations: Balderton, Hoxton Ventures, Reef Technologies, Lean, Network, United, Advisory Locations: London, Saudi, Revolut, COVID, Kbox, Sydney

☆ London stock exchange sees first trading halt in 4 years; blue chips spared
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Oct 19 (Reuters) - The London Stock Exchange (LSE) (LSEG.L) was forced to halt trading in smaller stocks on Thursday after an incident disrupted activity, although blue chip shares suffered no interruptions. London Stock Exchange Group (LSEG) said FTSE 100 (.FTSE), FTSE 250 (.FTMC) and International Order Book securities - those shares listed in London by overseas companies - were operating normally. The FTSE 100 closed down 1.2% on the day. In 2019, the London Stock Exchange suffered an almost two-hour outage that hit FTSE 100 and midcap stocks, which LSEG said was caused by a “technical software issue”.

Persons: Toby Melville, LSEG, Fiona Cincotta, Thomson, Akanksha, Huw Jones, Harry Robertson, Alun John, Joice Alves, Amanda Cooper, Danilo Masoni, Kirsten Donovan, Susan Fenton Organizations: London Stock Exchange Group, City of, REUTERS, London Stock Exchange, LSE, FTSE, Traders, Reuters, City, Thomson Reuters, Thomson Locations: City, City of London, Britain, London, LSEG, Bengaluru, Milan

☆ Goldman Sachs says this global delivery platform’s shares are set to soar over 100%
▼ + stars: | 2023-10-03 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Shares of German food delivery platform Delivery Hero are set to double over the next 12 months, according to analysts from Goldman Sachs. Goldman remains bullish on Delivery Hero even as investors remain concerned about its free cash flow trajectory. "Delivery Hero operates in more favorable markets [compared to its] peers in terms of macro and unit economics. Several food delivery platforms emerged during the height of the pandemic when countries around the world imposed social distancing restrictions. She expects Delivery Hero to register the largest improvements this year in terms of EBITDA as a percentage of gross transaction value.

Persons: Goldman Sachs, Goldman, Lisa Yang, Deliveroo, Goldman's Yang, — CNBC's Michael Bloom Organizations: The, U.S Locations: The U.S, Asia, Southeast Asia, British

☆ Omada wants to become a healthy alternative to sports betting sites. It just raised $7.5 million with this 9-slide pitch deck.
▼ + stars: | 2023-09-27 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +2 min

Social gaming startup Omada has just secured $7.5 million in seed funding from Felix Capital. The French startup, which launched less than two years ago, bills itself as a healthy alternative to traditional sports betting apps. "It's not just a game, it's a social game," said cofounder and CEO Adrien Miniatti. Beyond its core game-prediction and social features, Omada has also worked on a range of campaigns to raise awareness about betting addictions. With the fresh funding, Omada will ramp up its product team, and focus on its expansion in the US.

Persons: Felix Capital, It's, Adrien Miniatti, Zs —, Omada, Miniatti, Julien Codorniou Organizations: Felix, influencers, French football club Red Star FC, Omada, Play Ventures, Motier Ventures, Felix Capital Locations: London

☆ Foodpanda confirms layoffs, says it's in talks to sell part of Asia food delivery business
▼ + stars: | 2023-09-22 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

A courier for Foodpanda, a meal-delivery service operated by Delivery Hero AG, checks his smartphone while sitting on a motorcycle at the company's operations center in Bangkok, Thailand, on Friday, March 16, 2018. Bangkok's famed love affair with food is spilling over to meal-delivery apps, a fledgling sector that Foodpanda projects will surge in 2018 as competition intensifies. Photographer: Brent Lewin/Bloomberg via Getty ImagesSingapore-headquartered food delivery service Foodpanda on Friday confirmed to CNBC that it is conducting its latest round of layoffs as the need to be "more agile remains critical." "Our company priority right now is to become leaner, more efficient and even more agile. This is Foodpanda's third round of layoffs since job cuts in February and September last year amid macroeconomic headwinds, according to media reports.

Persons: Bangkok's, Brent Lewin, Jakob Sebastian Angele Organizations: Bloomberg, Getty Images Singapore, CNBC Locations: Bangkok, Thailand

☆ Lonza’s CEO churn adds to company’s ailments
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Denis Balibouse Acquire Licensing RightsLONDON, Sept 18 (Reuters Breakingviews) - Lonza’s (LONN.S) new broom will face even more challenges than its old one. Since he was appointed CEO in 2020, the Swiss group has increased capital expenditure as a percentage of revenue from 20% to 30% last year. Even before Monday’s fall, the stock was trading at 32 times its forward earnings, around the same level as before its pandemic surge. The disruption of another CEO exit, without a clear explanation, means that the hoped-for growth will take even longer to arrive. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Denis Balibouse, Pierre, Alain Ruffieux, Albert Baehny, Aimee Donnellan, Neil Unmack, Streisand Neto Organizations: REUTERS, Reuters, Swiss, X, Thomson Locations: Lonza, Visp, Switzerland, Swiss

☆ S4 misery offers reality check on tech exuberance
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

LONDON, Sept 18 (Reuters Breakingviews) - Is the technology sector bouncing back? The tech-heavy Nasdaq Composite Index (.IXIC) is up 31% this year, and chip designer Arm enjoyed a 25% first-day pop on its listing. S4 on Monday downgraded its 2023 like-for-like net revenue growth forecast to “down on last year”. The news still sent S4 shares down 25% on Monday morning. Any recovery will require Sorrell to show he can keep winning business in an era of tech uncertainty.

Persons: Martin Sorrell, That’s, Publicis, Sorrell, Oliver Taslic, Neil Unmack, Streisand Neto Organizations: Reuters, Nasdaq, S4, Nvidia, Meta, X, Thomson

☆ Planet Fitness races against rate hikes
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

View of the Planet Fitness logo at the their location in Clifton, New Jersey, U.S., January 6, 2023. REUTERS/Jennifer Saba Acquire Licensing RightsNEW YORK, Sept 18 (Reuters Breakingviews) - Planet Fitness (PLNT.N) is struggling to adapt to a high-interest-rate diet. Under Rondeau, Planet Fitness benefited from a post-pandemic exercise rebound, notching annual sales growth of over 40% in the last two years as location count expanded by 13%. Its stock is up 32% this year, while Planet Fitness’s is down by roughly the same amount. Life Time boss Bahram Akradi said his old approach of keeping prices low was a “mistake.” Planet Fitness can fix the same error.

Persons: Jennifer Saba, Chris Rondeau, Rondeau, Fitness’s, Bahram Akradi, Anita Ramaswamy, Jonathan Guilford, Sharon Lam, Aditya Sriwatsav Organizations: REUTERS, Reuters, Planet, X, Thomson Locations: Clifton , New Jersey, U.S

☆ Ford’s boss evokes empty threats in union battle
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Phil Noble Acquire Licensing RightsNEW YORK, Sept 15 (Reuters Breakingviews) - Ford Motor (F.N) boss Jim Farley is breaking out the "B" word. In a Thursday interview with CNBC, Farley said that pay-rise demands from the United Auto Workers would have driven Ford “bankrupt” if implemented back during 2019 contract negotiations. For now, using “bankrupt” and “Ford” in the same sentence seems like an empty threat. Even in the event of a prolonged strike, Ford has a buffer. The company is sitting on $10 billion of cash net of debt and $47 billion in total liquidity.

Persons: Phil Noble, Jim Farley, Farley, “ Ford ”, Ford, wishlist, Jonathan Guilford, Lauren Silva Laughlin Sharon Lam, Aditya Sriwatsav Organizations: Ford, REUTERS, Reuters, CNBC, United Auto Workers, General Motors, X, Thomson Locations: Liverpool, Britain, North America

☆ H&M looks out of sync with shoppers’ reality
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

The H&M clothing store is seen in Times Square in Manhattan, New York, U.S., November 15, 2019. REUTERS/Mike Segar Acquire Licensing RightsMILAN, Sept 15 (Reuters Breakingviews) - H&M (HMb.ST) CEO Helena Helmersson is feeling the heat. H&M has probably been operating under the illusion that it could maintain pricing power while consumers are being hit by inflation. Its $120 billion rival Inditex (ITX.MC), whose Zara brand is considered more upmarket than H&M, has started to pause price increases. Right now, H&M trades on the same 20 times forward earnings multiple than Inditex.

Persons: Mike Segar, Helena Helmersson, “, That’s, Shein, Inditex's, Lisa Jucca, George Hay, Streisand Neto Organizations: REUTERS, Reuters, RBC, X, Thomson Locations: Manhattan , New York, U.S, Swedish

☆ 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

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