Bloomberg Money Minute | Uber Agrees to Buy Delivery Hero in $14.8 Billion Deal

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15 segments

0:00

This is a Bloomberg money minute. Uber is doubling down overseas.

0:03

Its buying delivery hero in a deal that values the German food delivery company

0:07

at 4.8 billion, and expands the US firm's global operations.

0:13

The acquisition marks a sizable expansion in Asia, Latin America and the

0:16

Middle East for Uber and boosts its total markets to 99.

0:20

Uber shares are up about 1%. U.S.

0:23

retail sales rose modestly in June, with the value of retail purchases rising

0:27

0.2% after a revised 1% advance in May. Gas station receipts fell 5.3%, the

0:34

sharpest decline since 2022, as average national pump prices dropped about $0.50

0:39

a gallon last month. Receipts at nonstop retailers jumped

0:43

1.9%, the biggest increase in nearly a year.

0:46

Likely boosted by Amazon's Prime Day. Sports style betting on drug trials.

0:51

Kalshi is expanding in biotechnology by offering wagers on the outcomes of

0:55

clinical trials and regulatory decisions.

0:58

Matt Piper Bloomberg.

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Uber is significantly expanding its global operations by acquiring Delivery Hero for $4.8 billion, boosting its presence in Asia, Latin America, and the Middle East to a total of 99 markets. Meanwhile, U.S. retail sales saw a modest 0.2% increase in June, despite a 5.3% drop in gas station receipts due to lower pump prices, while non-store retail jumped 1.9%, possibly influenced by Amazon's Prime Day. Separately, Kalshi is venturing into biotechnology, allowing wagers on the outcomes of clinical trials and regulatory decisions.