Uber Pursues Acquisition of Turkish Delivery Platform Trendyol Go

Published 4 days agoUBER

Uber Technologies Inc. is reportedly in talks to acquire Trendyol Go, a Turkish food and grocery delivery service. This move, as reported by Bloomberg sources, signifies Uber's ongoing efforts to expand its global reach in the competitive delivery market.

Trendyol Go is operated by Trendyol Group, a leading Turkish e-commerce firm that benefits from the backing of Alibaba Group Holding Ltd. However, the terms of the potential deal remain undisclosed and there is no certainty that the negotiations will culminate in an agreement.

Despite the emerging news, both Uber and Trendyol Go have opted not to comment on the matter. This development aligns with Uber's strategic intentions to bolster its presence in international delivery markets, though no official acquisition plans have been confirmed.

Share this article

Twitter Facebook LinkedIn

Recent Articles

Meta's Ad Revenue Faces Threat from Tariff Cuts

6 minutes agoMETA

Meta Platforms Inc. is facing significant revenue challenges as increasing U.S. tariffs on Chinese imports push Chinese e-commerce giants to curb their digital advertising budgets. Among these is Temu, a major Meta advertiser, which recently cut its ad spend on Meta and other platforms by 31% in response to escalated tariffs under the Trump administration. Temu’s reduction is significant given its previous estimated annual expenditure of $1.2 billion on Meta's advertising services alone. This cutback reflects a larger trend within the industry, where analysts predict U.S. social media ad spending could drop by up to $10 billion by 2025 due to these tariff pressures. Meta and Amazon are expected to be among the most affected companies if this trend persists. Aside from tariff-induced challenges, Meta is also navigating regulatory pressures. An ongoing FTC antitrust case adds to the headwinds for Meta's advertising segment, which constitutes approximately 10% of its total revenue. These combined factors underscore the mounting pressures on Meta’s core business operations and strategic adjustments it may need to consider in light of these economic and legal hurdles.

TD Bank Expands AI Efforts with New Layer 6 Office in NYC

21 minutes agoTD

TD Bank Group is set to expand its artificial intelligence research capabilities by opening a new Layer 6 office in New York City, slated for a formal opening in 2025. This expansion marks the bank's continued investment in AI research and development, reflecting its strategic commitment to this burgeoning field. The new NYC office is poised to initially accommodate around 20 data and applied machine learning scientists, including experts in generative AI. This team will be focused on transforming AI research into practical uses, underscoring the bank's aim to integrate AI-driven solutions more effectively into its offerings. According to Insider Monkey, these efforts are part of a broader push to harness AI for advanced customer support technologies. Layer 6 acts as TD Bank's AI research hub, uniting research, engineering, and product development to swiftly apply theoretical concepts into impactful solutions. As part of its AI strategy, TD Bank is exploring the deployment of generative AI for enhanced customer and colleague interactions, such as virtual assistants in its contact centers. The bank acknowledges the industry-wide challenge of a talent gap in AI deployment and is focused on recruiting specialists in areas like risk and change management to achieve its AI goals.

Invesco Announces Major Preferred Stock Repurchase from MassMutual

36 minutes agoIVZ

Invesco has announced an acquisition of $1 billion worth of preferred stock from MassMutual, marking a significant part of a $4 billion series. This strategic move, expected to finalize by May 2025, is supported through debt financing, providing Invesco with enhanced balance sheet flexibility by repurchasing the non-callable shares ahead of schedule. The transaction is projected to be accretive to earnings by late 2025, with a projected run-rate EPS accretion of 13 cents once the debt is repaid. The deal is strategically aimed at reducing capital costs and boosting the company's ability to grow dividends, as noted by Insider Monkey. Furthermore, Invesco has revealed a strategic partnership with Barings, a MassMutual affiliate, to broaden its private credit solutions through U.S. wealth distribution channels. Moreover, a seed and co-investment of $650 million from MassMutual is set to foster joint initiatives in private market offerings. In line with these developments, Invesco announced a slight increase in its quarterly dividend from $0.205 to $0.210 per share, extending its streak of annual payout increases to 19 consecutive years.

RTX Shares Dip Despite Strong Q1 Sales Performance

51 minutes agoRTX

RTX has announced its financial results for the first quarter of 2025, reporting sales of $20.3 billion. This figure represents a 5% increase from the previous year, with an 8% organic growth excluding divestitures. Despite these robust figures, RTX shares fell by 5.6% in premarket trading, influenced by revised full-year sales guidance and tariff concerns. The company's full-year 2025 adjusted sales guidance remains at $83 billion to $84 billion. However, this projection did not meet investor expectations, contributing to the decline in share prices. According to Insider Monkey, RTX has also highlighted the potential impact of tariffs imposed by former U.S. President Trump, which could decrease profits by an estimated $850 million in 2025. RTX's management intends to address the impact of these tariffs in more detail during the earnings call for Q1 2025, acknowledging the ongoing uncertainty over trade policies. The full-year adjusted EPS is projected to be between $6.00 and $6.15, while free cash flow expectations range from $7.0 to $7.5 billion. These figures currently do not factor in the full effects of the new tariffs, which add a layer of unpredictability to the company's future performance.