Mexican used-car startup Kavak expands outside Latin America
Mexican used-car platform Kavak is investing $180 million to open offices and make its platform available in four new countries, including Turkey – its first location outside Latin America, the company said Wednesday.
Amazon teams up with Just Eat on U.S. food delivery with Grubhub investment
Amazon (AMZN.O) has agreed to take a 2% stake in Just Eat Takeaway.com’s (TKWY.AS) struggling U.S. meal delivery business Grubhub and will offer its Prime members access to the service for one year.
EXCLUSIVE Germany to overhaul laws to allow energy bailouts – sources
Germany’s government will have the power to take stakes in utilities and impose emergency levies on consumers under proposed legal changes now under discussion, three sources told Reuters, as Berlin moves to beef up energy security.
Analysis: Meme stock investors place risky bet on bankrupt Revlon being the next Hertz
The 30-year-old plumber from Oxford, North Carolina, scored a 350% profit last week by selling half the shares in the U.S. cosmetics maker he bought after it filed for bankruptcy protection on June 16. He thinks he can make even more by holding on to the rest of his shares through the bankruptcy.
COVID-19 vaccine scheme for world’s poorest pushes for delivery slowdown
Leaders of the global scheme aiming to get COVID-19 vaccines to the world’s poorest are pushing manufacturers including Pfizer (PFE.N) and Moderna (MRNA.O) to cut or slow deliveries of about half a billion shots so doses are not wasted.
U.S. banks expect a clean bill of health after Fed’s stress tests
Large U.S. banks are optimistic they will receive a clean bill of health from the Federal Reserve this week, freeing them up to distribute billions of dollars in excess capital to investors.
Analysis: Market meltdown lays bare Europe’s divisions
A markets sell-off has brought back memories of the euro zone debt crisis more than a decade ago, highlighting divisions that have plagued the currency bloc’s efforts to forge a closer bond.
Exclusive: OPEC sees global oil demand growth slowing in 2023, sources say
World oil demand growth will slow in 2023, OPEC delegates and industry sources said, as surging crude and fuel prices help drive up inflation and act as a drag on the global economy.
The pandemic broke the Fed’s model; this week may show how much
Federal Reserve Chair Jerome Powell used his first four years as the world’s top central banker to reshape U.S. monetary policy around the idea that low inflation and low unemployment could coexist.
Analysis: Global investment banking faces tougher times after blockbuster year
A dearth of IPOs, a plunge in stock prices and slowing global economic growth are clouding the outlook for revenue at global investment banks after pandemic spending by governments and central banks fueled a blockbuster 2021.
