Business Inquiries

Grubhub Jumps on Deal Inquiries From Just Eat, Delivery Hero

(Bloomberg) — Grubhub Inc. shares jumped after news that Europe’s Delivery Hero SE and Just Eat Plc expressed interest in exploring a deal.

Uber Technologies Inc. has also been in talks with Grubhub about an acquisition, Bloomberg reported last month. CNBC reported Friday on interest from the other two companies, and Grubhub’s stock jumped more than 7%.

Although the European companies have made inquiries, the talks with Uber are far more advanced, two people familiar with the matter said. Spokespeople for Delivery Hero and Just Eat declined to comment, and a spokesperson for Grubhub didn’t immediately respond to a request for comment.

Food delivery has surged during the pandemic as health and government restrictions have kept many restaurants closed and people at home. However, the food delivery apps are still struggling to turn a profit. Companies compete to attract customers and restaurants by offering discounts to win market share, similar

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‘This Is A Very Strange Time To Be A Black-Owned Business’

This story, as told to Janna Mandell, is from the perspective of Trinity Mouzon Wofford, the co-founder of Golde, a Brooklyn-based superfood-fueled beauty and wellness brand, which she co-founded with partner Issey Kobori in 2017. In a short period of time, Wofford has hit several career milestones, including being the youngest Black woman to ever launch a line at Sephora and being chosen for Forbes’ “30 Under 30” list. Yet she and her company still face daily obstacles, forcing her to live inside the anxiety dream. You know the one — you’re on a busy sidewalk with people bustling past you, but you have to use every bone in your body to propel yourself even an inch forward. Here at HuffPost, we think it’s important to give powerful voices a platform, especially one like Wofford who speaks with such naked candor and emotion. We’re listening.

Like the rest

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The U.S. Might Revoke Hong Kong’s ‘Special Status.’ Here’s What That Means for Business in the Global Financial Hub

Secretary of State Mike Pompeo announced on Wednesday that Hong Kong was no longer sufficiently autonomous from mainland China — an assessment that could threaten the city’s trading relationship with the U.S. and deal a blow to both American and Chinese companies operating there.

The news comes following Beijing’s decision late last week to draw up a national security law for Hong Kong. The move came after Hong Kong’s Legislative Council failed in its obligations to enact such a law since the former British colony was handed back to China in 1997. Critics say, however, that the Chinese government’s bypassing of the local legislature undermines the “high degree” of autonomy promised to Hong Kong when China resumed sovereignty over the territory of 7.4 million.

“No reasonable person can assert today that Hong Kong maintains a high degree of autonomy from China, given facts on the ground,” Pompeo said in a

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Paradigm Music Assets Draw Inquiries as Agency Struggles With Debt

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Talk of sale activity around Paradigm is heating up again.

Casey Wasserman of Wasserman is pursuing a deal for the company’s music-related assets. Ron Burkle’s Yucaipa Cos is also in the mix as an existing partner of Paradigm in some of its U.K. and European music holdings. Meanwhile, industry chatter about a Wasserman transaction spurred UTA to once again make an inquiry to Paradigm chief Sam Gores about the prospect of buying its music operations.

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UTA and Paradigm came close to cutting a deal to sell the entire agency for about $300 million in June 2019. Now industry insiders estimate Paradigm’s music units are valued at $150 million-$200 million at a time when the live events business is at a standstill because of the pandemic. Yucaipa is already a business partner of Paradigm, having invested in the company’s U.K.

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