Latest news with #Amsterdam-based
France 24
4 hours ago
- Business
- France 24
EU clears Just Eat takeover by Dutch group Prosus
Prosus announced its plans to purchase the Amsterdam-based food delivery platform in February, saying it would create the fourth-largest food delivery group globally. The European Commission, the EU's antitrust regulator, gave the green light for the acquisition after Prosus offered commitments to address the bloc's concerns. Prosus has stakes in food business across more than 70 countries including full ownership of iFood, Latin America's leading food delivery platform, plus stakes in Delivery Hero and China's Meituan. One of Europe's most popular food delivery platforms, Just Eat operates in 17 international markets. The South African tech conglomerate Naspers Limited is the majority owner of Prosus. The remedies offered by Naspers include significantly reducing its share in Delivery Hero, "below a specified very low percentage, within 12 months and to implement a set of additional commitments". The commission said it could not disclose the ownership percentage for Delivery Hero, a Just Eat rival. Prosus currently holds a minority share of 27.4 percent in Delivery Hero. "The divestment and additional commitments ensure that Naspers will have no influence over nor material interest in Delivery Hero's commercial decisions or strategy," the commission said in a statement. Just Eat and Delivery Hero both offer online food delivery services in EU member states Austria, Bulgaria, Italy, Poland, and Spain. "We had concerns that the acquisition... could allow the parties to coordinate their behaviour in the food delivery market, reducing competition and consumer choice," EU competition chief Teresa Ribera said.
Ammon
7 hours ago
- Business
- Ammon
Hazelnut prices soar after frost hits major producer Türkiye
Ammon News - Wholesale hazelnut prices in Türkiye have surged this harvest season due to frost damage, the world's leading producer, where the crop yields are expected to shrink this year. In April, a cold snap, unseen in years, affected a variety of domestically produced crops, pushing hazelnut prices higher even before the harvest began. Agriculture Minister Ibrahim Yumaklı called it one of the worst agricultural frosts in the country's history. Experts have attributed it to climate change, which they claim is increasing the frequency of extreme weather events, as the underlying cause. According to the Amsterdam-based commodity data platform Vesper BV, a metric ton of Turkish hazelnuts now costs around 9,400 euros ($10,900), an increase of roughly 34% since the start of the year, Vesper told Deutche Presse-Agentur (dpa). Daily Sabah
New Straits Times
a day ago
- Business
- New Straits Times
Hazelnut prices soar after April frost damages Turkish harvest
ISTANBUL: Wholesale hazelnut prices have surged this harvest season following frost damage in Turkey, the world's largest producer, reported German Press Agency (dpa). According to the Amsterdam-based commodity data platform Vesper BV, a metric tonne of Turkish hazelnuts now costs around €9,400 (US$10,900) – an increase of roughly 34 per cent since the start of the year. In April, a cold snap damaged Turkey's crop, pushing prices higher even before the harvest began. Agriculture Minister Ibrahim Yumakli called it one of the worst frost weather condition in Turkey's history. Experts have pointed to climate change, which they say is making extreme weather events more frequent, as the underlying cause. Around 60 per cent of the world's hazelnuts grow primarily on the green mountain slopes along Turkey's Black Sea coast, where the nut is called "green gold" because of its economic importance. Hamburg trading house Schlüter & Maack estimates that wholesale prices for Turkish hazelnuts have risen by about 40 per cent since the cold snap. Surplus from previous harvests and good yields in other producing countries have partly offset the losses. In Turkey, the state Grain Board – a kind of market regulator – raised the minimum purchase price for hazelnuts just days ago. This year, the price is about €4.20 (US$4.89) per kilogramme. Measured in the local currency, the lira, which has been repeatedly devalued, this amounts to an increase of more than 50 per cent. The last major frost-related crop failure in Turkey occurred in 2014.
Al Etihad
2 days ago
- Business
- Al Etihad
Chocolate prices likely to soar after April frost damages Turkish hazelnut harvest
10 Aug 2025 09:32 Istanbul (dpa)Wholesale hazelnut prices have jumped this harvest season due to frost damage in Turkiye, the world's leading to the Amsterdam-based commodity data platform Vesper BV, a metric ton of Turkish hazelnuts now costs around 9,400 euros ($10,900) - an increase of roughly 34% since the start of the year, Vesper told April, a cold snap damaged Turkiye's crop, pushing prices higher even before the harvest prices for chocolate-hazelnut goods have been rising, in tandem, for some Agriculture Minister Ibrahim Yumakli called this year's frost one of the worst in the country's history. Experts have pointed to climate change, which they say is making extreme weather events more frequent, as the underlying 60% of the world's hazelnuts grow primarily on the green mountain slopes along Turkiye's Black Sea coast, where the nut is called "green gold" because of its economic trading house Schlüter & Maack estimates that wholesale prices for Turkish hazelnuts have risen by about 40% since the cold snap. Surpluses from previous harvests and good yields in other producing countries have partly offset the Turkiye, the state grain board - a kind of market regulator - raised the minimum purchase price for hazelnuts just days ago. This year, the price is about 4.20 euros per kilogram. Measured in the local currency, the lira, which has been repeatedly devalued, this amounts to an increase of more than 50%.The last major frost-related crop failure in Turkiye occurred in 2014. Chocolate-hazelnut Products Pricier Rising hazelnut prices have affected the prices of chocolate hazelnut products in markets across the world.A spokesman for Ritter Sport, the German makers of the iconic square chocolate bars, said the frosts in Turkiye and rising prices have had a tangible impact on the company. Ritter Sport processes several thousand tons of hazelnuts annually,mostly from Turkiye's Black Sea coast and partly from the UnitedStates."We are seeing a massive double burden on the raw materials side," he said, adding that the strain was not expected to ease up in the price hikes will likely hit the world's largest hazelnut buyer the hardest: Nutella-maker Ferrero, which is estimated to source about one-third of all hazelnuts globally. The Italian company declined to comment on prices when asked, but denies any supply disruptions. The company said it sources hazelnuts not only from Turkiye but also Italy, Chile, and the US, which ensures supply security.
Time of India
4 days ago
- Business
- Time of India
Nebius stock skyrockets 21% after stellar Q2 earnings — new forecast sends Wall Street buzzing
NBIS stock latest news today : Amsterdam-based AI infrastructure company Nebius Group saw its stock soar by 21% on Thursday morning after delivering a blockbuster second-quarter earnings report that blew past Wall Street expectations and reignited investor excitement across the AI sector, as per a report. Nebius Q2 Revenue Surges 600%, Beats Wall Street Expectations The hyperscaler's stock, which has already gained over 140% year-to-date, reported $105.1 million in Q2 revenue, a jaw-dropping 600% increase year-over-year and well ahead of the consensus estimate of $101.2 million, as per a report by Seeking Alpha. The earnings surprise marks yet another milestone in Nebius' rapid rise as a key player in the race to provide AI computing power at scale, according to the report. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Nebius founder and CEO Arkady Volozh said that "Nebius is continuing to deliver exceptional results," adding, "In Q2 we more than doubled revenue from the previous quarter, and our core business achieved positive Adjusted EBITDA ahead of plan," as quoted by Seeking Alpha. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Unsold 2021 Cars Now Almost Free - Prices May Surprise You Unsold Cars | Search Ads Learn More Undo by Taboola by Taboola ALSO READ: Who is Intel CEO Lip-Bu Tan — and why is Donald Trump demanding his resignation? CEO Arkady Volozh Raises 2025 Revenue Forecast to $1.1 Billion Volozh highlighted that, "Because of this strong momentum, we are increasing our annualized run-rate revenue outlook for the year to $900 million to $1.1 billion," as quoted in the report. Live Events Nebius has raised its annualized run-rate revenue guidance for 2025 to between $900 million and $1.1 billion and the company is also in the process of securing more than 1 GW of power by the end of 2026 to support its expansion efforts, as reported by Tipranks. ALSO READ: Microsoft layoffs mount as it cuts 40 jobs - 3,160 fired in Washington since May, employees call it a cultural crisis Nebius Secures Over 1 GW of Power to Support Data Center Expansion Volozh explained that, "Demand for AI infrastructure — compute, software and services — is only going to get stronger as use cases multiply," adding, "We are aggressively scaling up capacity to capture this substantial opportunity and are in the process of securing more than 1 GW of power by the end of 2026," as quoted by the Seeking Alpha report. What Investors Should Know About Nebius' Future Outlook Seeking Alpha analyst Jack Bowman reacted to the positive outlook, saying, "Nebius hit a millstone, reporting over $1B in ARR, following a doubling of its revenue quarter over quarter," as quoted in the report. Bowman highlighted that, "This is the kind of growth necessary to justify its valuation, and is a great sign for shareholders that AI infrastructure demand isn't going anywhere anytime soon. Nebius relies on that demand to fund its hyper-expanding GPU cluster and data center business. Any future weakening of this demand could spell disaster for the stock, but this earnings report shows we are far off from there, and Nebius is still looking incredibly strong from a growth perspective," as quoted in the Seeking Alpha report. According to Tipranks, the latest analyst rating on NBIS stock is a 'Buy' with a $51.00 price target. While, as per Spark, TipRanks' AI Analyst, NBIS is a Neutral, the AI Analyst wrote that, "The overall stock score for Nebius is driven by financial performance challenges, particularly declining revenues and incomplete financial data. Although technical analysis shows bullish momentum and the earnings call highlighted strong growth and partnerships, the lack of profitability and valuation concerns weigh heavily on the score," according to TipRanks report. FAQs Why did Nebius stock rise? The stock surged after Nebius reported an impressive 600% increase in quarterly revenue, beating analyst expectations. What is Nebius' revenue forecast for 2025? The company expects its annual revenue to reach between $900 million and $1.1 billion by the end of 2025.
