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☆ Behind a Wall Street headhunter's rapid ascent lie accusations of harassment and abuse
▼ + stars: | 2022-12-21 | by ( Alex Morrell | ) www.businessinsider.com time to read: +38 min

"It was a complete whirlwind, and it felt too good to be true," Morrison told Insider. "Everyone is given a calendar reminder of when they have to submit a review," one former employee told Insider. Durlston told Insider she wasn't a credible source given the acrimonious nature of her departure from Durlston. "Everyone gets pretty loose at these events," a former employee told Insider, noting the availability of alcohol throughout the day. Bahram told Insider this was not a prohibition but merely a suggestion that it would not be an appropriate arrangement.

☆ Analysis: European food delivery shapes up with Getir's Gorillas buy
▼ + stars: | 2022-12-11 | by ( ) www.reuters.com time to read: +6 min

QUICK COMMERCEThe Gorillas acquisition makes Getir Europe's largest quick commerce company. LESS CAPITAL, FEWER COUPONSMore than a dozen smaller European quick commerce companies failed or were acquired since mid-2021. While profits may still be distant for the privately-held quick commerce companies, Europe's listed meal delivery companies have all set formal targets for earnings before interest, taxes, depreciation and amortisation (EBITDA). Shares in the European delivery companies are down around 60% from a year ago, but have traded sideways since June. So to "all the naysayers saying 'quick commerce is over - No.

☆ Buy-now, pay-later kingpin Klarna's valuation dropped from $45.6 billion to $6.7 billion in 2022. Its CEO wants a 'sane market' before IPO.
▼ + stars: | 2022-12-05 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +6 min

Buy-now, pay-later firm Klarna wants 'a sane market' before IPO. The company is losing hundreds of millions of dollars annually, but says it is reducing credit losses. Klarna took a valuation haircut to $6.7 billion and carried out two rounds of job cuts in 2022. At one time, the company was the most highly valued startup in Europe with a valuation of $45.6 billion. That plunged by 85% to just $6.5 billion as the company raised again this year in a tougher market.

☆ DoorDash cuts 1,250 jobs to control ballooning costs
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

Nov 30 (Reuters) - DoorDash Inc (DASH.N) said on Wednesday it was cutting about 1,250 jobs, or 6% of its total workforce, as the food-delivery company looks to keep a lid on costs to cope with a slowdown in demand. As a result, operating expenses grew quickly," Chief Executive Tony Xu said in a memo to employees that was posted on the company's website. "Given how quickly we hired, our operating expenses - if left unabated - would continue to outgrow our revenue." read moreWhile DoorDash's Xu reiterated that the business has been more resilient compared with other e-commerce companies, he said reducing non-headcount operating expenses "wouldn't close the gap." DoorDash, which closed an all-stock deal this year with Wolt, has total headcount of about 20,000.

☆ Criteo has bet big that e-commerce ads will contribute to $1 billion in revenue by 2025. But a new crop of startups are also coming for those dollars.
▼ + stars: | 2022-11-25 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +7 min

Adtech firm Criteo is battling for retailers' ad businesses with new competitors like CitrusAd. E-commerce advertising is driving much of Criteo's growth, with the firm hoping to hit $1 billion in revenue from retail media by 2025. Criteo's technology has moved beyond search ads to include display ads and ads that appear off the retailer's site. Not all retailers outsource their ad businesses, creating more competition with CriteoCriteo also faces competition from retailers themselves. Some retailers don't want Criteo or CitrusAd managing their ad businesses and license technology to build ad businesses that they manage themselves.

☆ Singapore's gig workers to get work injury, pension coverage
▼ + stars: | 2022-11-24 | by ( Chen Lin | ) www.reuters.com time to read: +1 min

SINGAPORE, Nov 24 (Reuters) - Singapore will extend work injury insurance and pension coverage to food delivery and ride-hailing workers under proposed legislative changes that it aims to implement as early as late 2024, the Manpower Ministry said. The new rules will affect about 73,000 workers who deliver food or drive passengers for companies such as Grab (GRAB.O) , Gojek (GOTO.JK), Deliveroo (ROO.L) and Delivery Hero's (DHER.DE) Foodpanda. Workers would gain coverage under the national pension system, which collects contributions from both workers and companies, and receive work injury insurance covering medical expenses, income loss, and lump sum compensation for permanent disability or death. Gig workers would not, however, be considered full-time employees entitled to paid leave and other benefits. Reporting by Chen Lin in Singapore; Editing by Xinghui Kok and Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

☆ Grab, Gojek are 'supportive' of Singapore's move to expand job protection for gig workers
▼ + stars: | 2022-11-24 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Southeast Asian tech giants Grab and Gojek said they are "supportive" of recommendations made by an advisory committee to expand gig worker protection in Singapore starting in 2024. In Singapore, platform or gig workers, often ride-hailing or food delivery drivers, have thus far been considered self-employed. As a result, they do not receive employer contributions to the Central Provident Fund, the national pension savings scheme. As of 2020, the city-state's Ministry of Manpower estimated that such workers made up about 3% of the resident workforce, or 79,000 people. Under the CPF measure, both platform workers and platform companies such as Grab, Gojek, Foodpanda and Deliveroo will need to make contributions at the same rate as employees and employers.

Formerly a prodigious amateur, for eight years Brewerton had traveled the world competing at the summit of women’s professional golf. Regular top-10 finishes became fleeting, then non-existent, and as Brewerton’s ranking tumbled, so too did her income. Despite her struggles in the game, Brewerton never fell out of love with golf. Looking back, Brewerton believes she was often guilty of over-training, at the expense of working on the mental side of her game. Comfortably inside the top-20 ranked players on the LET, Brewerton is enjoying her best season in a decade, with three top-10 finishes highlighting a flurry of top-25 outings.

☆ British online furniture seller Made.com suspends trading amid last-ditch rescue talks
▼ + stars: | 2022-11-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

A view of a Made.com high street shop in central London on October 28, 2022 in London, England. Chris J Ratcliffe | Getty Images News | Getty ImagesLONDON — Millennial-oriented furniture retailer Made.com on Tuesday suspended trading of its shares on the London Stock Exchange, after failing to agree a rescue deal before a November deadline. However, customers also grumbled about long delivery times on some items, particularly as global supply chain issues intensified in 2021. Tough conditions"Customers are shying away from big-ticket items," said Sophie Lund-Yates, lead equity analyst at financial services firm Hargreaves Lansdown. "When the cost of living becomes untenable, buying expensive furniture is delayed, and that's exactly the pattern we've seen play out for Made.com."

☆ Deliveroo warns on sales growth as consumers tighten belts
▼ + stars: | 2022-10-21 | by ( Sarah Young | ) www.reuters.com time to read: +2 min

SummarySummary Companies Sees sales growth at 4-8%, from previous range of 4-12%Upgrades adjusted earnings margin forecastShares rise 4%LONDON, Oct 21 (Reuters) - British food delivery company Deliveroo (ROO.L) warned sales growth would be at the lower end of its previous guidance, as households cut back on take-aways due to rising prices. Despite the worsening outlook, Deliveroo, which competes with Just Eat Takeaway (TKWY.AS) and Uber Eats (UBER.N), also slightly upgraded its adjusted earnings (EBITDA) margin guidance on Friday, helped by lower marketing spend. The group is aiming for adjusted earnings (EBITDA) breakeven in late 2023 to early 2024 and said that it was confident it could adapt to the worsening economic outlook where consumers are grappling with higher food and energy bills. In its biggest UK and Ireland market, Deliveroo posted GTV growth of 11%, boosted by the addition of McDonalds to its offering, while its performance in its international markets in Europe, the Middle East and Asia Pacific dragged. Deliveroo announced on Wednesday it would pull out of the Netherlands on Nov. 30 after it failed to gain sufficient local market share.

☆ UK stocks hit by weak retail sales, rising yields
▼ + stars: | 2022-10-21 | by ( Sruthi Shankar | ) www.reuters.com time to read: +3 min

The blue-chip FTSE 100 index (.FTSE) fell 1.0%, while the midcap FTSE 250 (.FTMC) slipped 1.6%. Truss quit on Thursday after the shortest and most chaotic tenure of any British prime minister, forced out after her unfunded tax cut proposals crashed the pound and sent British borrowing costs soaring. Former finance minister Rishi Sunak, Penny Mordaunt and former prime minister Boris Johnson are among the likely candidates. UK's retail index (.FTNMX404010) fell 4.1%, heading towards a more than two-year low hit last week. read moreMeanwhile, U.S. and European government bond yields surged further as investors priced in aggressive policy tightening by the Federal Reserve.

☆ Deliveroo to quit Dutch market on Nov. 30
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: 1 min

AMSTERDAM, Oct 19 (Reuters) - Deliveroo (ROO.L), the meals ordering company, said it would halt operations in the Netherlands as of Nov. 30. "After consulting with employees and drivers, Deliveroo has established that reaching and keeping a top market position in the Netherlands would require unreasonable investment with an uncertain long term return," the company said in a statement. Deliveroo had said in August it was considering the move, given the Dutch market only accounted for a small amount of its operations and it had failed to gain sufficient local market share. Register now for FREE unlimited access to Reuters.com RegisterReporting by Toby Sterling; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Not So Dark just raised $80 million to help restaurants take on dark kitchens
▼ + stars: | 2022-09-26 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

French food tech startup Not So Dark just landed $80 million from Kharis Capital and Verlinvest. It was a food delivery company called Resto-in that was later acquired by Dutch company Lieferando, which in turn was gobbled up by Just Eat Takeaway. Now 37, Benoit is back in the food delivery game and just secured an $80 million Series B for Not So Dark. They have been criticized for killing the high street but grew in popularity during the pandemic as demand for food delivery soared. Not So Dark's technology also scans comments on each delivery platform to find ways to make deliveries better.

☆ I left investment banking for a $185,000-a-year job in private equity. The hours are slightly better, but it's still a finance job — no one cares about mental health.
▼ + stars: | 2022-09-22 | by ( Ellen Nguyen | ) www.businessinsider.com time to read: +8 min

So I looked at my exit options and found that going into private equity is a common progression for junior investment bankers. I was making slightly more in investment banking, but now I make £160,000 a year, or around $185,000, from my salary and bonus. There are a lot of investment-banking analysts in every cohort, but the openings in private equity are limited. In my private equity job, I generally start at 9:30 a.m., but I'm able to head home around 10 p.m., which is a big improvement. Do you work in investment banking or private equity and want to share your story?

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