Business Briefs: Rappaport Eyes Cal, Tshuva Faces Gas Dispute, Carrefour Hit
Translated & summarized from Ice by baba
Waze founder Assaf Rappaport is reportedly pursuing a multi-billion dollar acquisition of Israeli credit card company Cal, facing competition from other firms. Meanwhile, Yitzhak Tshuva's energy company is involved in a major international dispute over a gas supply contract from the Leviathan field. In other business news, Meta exceeded revenue forecasts, while Carrefour warned of significant losses due to riots damaging its stores.
The story in 7 lines · by baba
- Waze founder Assaf Rappaport is reportedly aiming to acquire Israeli credit card company Cal in a multi-billion dollar deal.
- Yitzhak Tshuva's energy company is in a major dispute over a gas contract from the Leviathan field, heading to international arbitration.
- Carrefour warned of up to 200 million euros in losses after riots damaged about 50 of its branches.
- Meta surpassed revenue expectations and announced a stock split to strengthen CEO Mark Zuckerberg's control.
- SpaceX and Tesla are reportedly exploring a potential $3.5 trillion merger, the largest in business history.
- Bank of Israel kept the interest rate unchanged at 3.25% and projected 7.5% growth for 2027.
- Netflix has lost 40% of its value in the past year due to growth concerns and competition.
Waze founder Assaf Rappaport is reportedly in talks to acquire Israeli credit card company Cal, in a deal potentially worth billions. This follows Rappaport's recent acquisitions of Channel 13 and his nearing purchase of McDonald's Israel. He faces competition from Delk Group and Direct Insurance, who are also vying for Cal, especially after a major deal with George Horesh and Harel fell through.
In the energy sector, Yitzhak Tshuva's company is embroiled in a multi-billion dollar dispute over gas supply from the Leviathan field. Dalia Energy has filed a claim with the International Court of Arbitration in London, seeking to enforce an agreement with New Med and Ratio, after the deal was canceled due to disagreements over timelines and industry speculation about attempts to improve negotiating positions.
Meta, formerly Facebook, surpassed revenue expectations with $64 billion, also announcing a 2-for-1 stock split. Shareholders will receive an additional Class C share, which does not grant voting rights, a move designed to solidify CEO Mark Zuckerberg's control. Meanwhile, Elon Musk's SpaceX and Tesla are exploring a potential merger valued at $3.5 trillion, which would be the largest in corporate history, focusing on integrating AI, robotics, and space operations.
Carrefour is facing significant financial losses, estimated at up to 200 million euros, due to riots that damaged around 50 of its branches. Many stores were looted, vandalized, or forced to close temporarily or reduce operating hours on the first day of the unrest.
Bank of Israel maintained its interest rate at 3.25%, projecting 7.5% growth for 2027, though cautioning that high-tech companies operating outside Israel inflate this figure. The central bank forecasts inflation to reach 2.1% next year, with interest rates expected to decrease to 3%. Netflix, however, is struggling, having lost 40% of its value over the past year amid concerns about subscriber growth, declining viewership, and intense competition.
Mentioned
