Stay in the loop! Subscribe to our newsletter and gain access to exclusive insights, trends, and news from the world of business and leadership. Don’t miss out!
Shares in Delivery Hero fell 11% in early Monday trading following the company’s announcement of a potential fine exceeding €400 million ($433 million) for antitrust violations.
The news, disclosed on Sunday evening, has caused significant market reaction, reflecting investor concerns.
The fine pertains to alleged anti-competitive agreements, including market-sharing arrangements, exchanges of commercially sensitive information, and no-poach agreements.
Delivery Hero acknowledged these allegations in their statement and indicated their readiness to cooperate fully with the European Commission.
The company mentioned its prior cooperation during unannounced inspections by the European Commission in July 2022 and November 2023.
To prepare for the potential fine, Delivery Hero plans to significantly increase its corresponding financial provision, previously set at €186 million.
Analysts at Jefferies highlighted that the primary concern is not the size of the fine or the Delivery Hero’s capacity to pay it.
Instead, they emphasize the broader implications of the “fact pattern” that this situation creates, suggesting potential long-term reputational and operational impacts for the company.
In the world of agribusiness, few leaders embody the principles of intentionality and adaptability as effectively
Volvo Cars has reduced its margin and revenue expectations for the second time this year. This
Safe Superintelligence (SSI), co-founded by former OpenAI chief scientist Ilya Sutskever, has successfully raised $1 billion
According to two sources familiar with the matter, Tesla plans to introduce a six-seat variant of
Cryptocurrency investors and industry executives plan to raise at least $100,000 for Vice President Kamala Harris
