Economy

Donatella Versace has announced a joint venture with US digital fashion retailer REVOLVE Group, targeting young consumers following Prada's 2025 acquisition of Versace.

Novo Nordisk aims to launch five new blockbuster drugs by 2030 and reach $23 billion in annual revenue by 2035, facing rising competition from Eli Lilly and generic alternatives.

Kylian Mbappe leaves Nike after 20 years to join Swiss sportswear brand On, receiving equity and helping launch a new football division alongside Thierry Henry.

The $110 billion merger between Paramount Skydance and Warner Bros. Discovery advances after settling an antitrust lawsuit led by US state attorneys general.

Israeli delivery startup Haat is expanding from Arab localities to Tel Aviv to compete with Wolt. Valued at over 100 million dollars, Haat solves unmapped address and cash payment challenges using advanced technology.

Clalit Health Services is investing 400 million shekels to build a new logistics center in Beersheba, aiming to secure medical supplies for southern hospitals and clinics during emergencies.

Assaf Rappaport breaks his silence on acquiring Reshet 13, discussing his vision for independent media, business strategies, management changes, and the network's future competition.

Haifa Port President Captain Sumit Chauhan discusses Red Sea security challenges, the Adani Group's strategic vision for Israel, and the untapped economic potential of the IMEC trade corridor.

Bank Hapoalim will update its trading platforms following a class action settlement, introducing clearer real-time data markers and digital signup options.

Turkish carrier Pegasus is acquiring Czech Airlines and controlling stakes in Smartwings in a 154 million euro deal approved conditionally by Czech regulators.

Former Beitar Jerusalem football captain Ofir Kriaf has invested an estimated two million shekels to open a kosher ice cream parlor near Teddy Stadium, marking a major career transition.

Volkswagen's aggressive restructuring plan threatens to cut 4,100 additional jobs at Porsche, potentially reducing the sports car maker's workforce by 25%.

Travel startup Weyeboo Business Travel has entered compulsory insolvency and faces total liquidation after generating zero revenue since its launch in 2022.

Tzomet Sfarim CEO Avi Shomer reports 230 million NIS in annual sales but warns that severe labor shortages hinder further growth. The bookstore chain faces high rents, shifting reading trends, and declining cookbook sales.

Forbes weekly billionaire rankings reveal Elon Musk leading at $984.1 billion, followed by Jeff Bezos surging to $370.9 billion after a historic single-day gain.

Eyal Ofer leads Israel's wealthiest list with $34.8 billion, while his brother Idan Ofer surpassed Miriam Adelson to secure second place with $32.2 billion.

OpenAI projects 287 billion dollars in cash burn between 2026 and 2030, driven by massive investments in computing power and infrastructure as it targets 350 billion dollars in annual revenue by the end of the decade.

Israeli 3D printer maker Stratasys won approximately $27.6 million in a Texas patent infringement lawsuit against Chinese rival Bambu Lab.

Kylian Mbappé leaves Nike to join Swiss brand On, acquiring equity and helping launch the company's first-ever line of football boots in a landmark sports industry deal.

Nestle is considering all options after Russian President Vladimir Putin signed a decree to seize the food giant's local business, making it the latest Western company targeted by the Kremlin.

House Padel at BIG FASHION Glilot reached 97% occupancy and over 700,000 NIS in revenue within its first month, setting a domestic industry record.

Warren Buffett, 96, is stepping down immediately as chairman of Berkshire Hathaway after leading the trillion-dollar conglomerate since 1965. His son Howard Buffett will succeed him.

Bravo! Italian Kitchen closed its Knoxville branch following its parent company's Chapter 11 bankruptcy filing, revealing over $50 million in liabilities and unpaid debts.

Polish energy giant Orlen lost hundreds of millions of dollars in a failed Venezuelan oil deal involving Dubai intermediaries and USDT crypto payments, sparking a criminal investigation.

Zhang Yiming, founder of ByteDance and TikTok, became Asia's richest person with a net worth surpassing $105 billion, overtaking Indian tycoon Gautam Adani amid a massive AI-driven wealth surge.

Bitcorp Capital has partnered with CRYMBO Technologies to launch a white-label digital asset financial system within 90 days, led by figures including Yohanan Danino and Reuven Rivlin.

Bank Leumi extends its Tailor Made market-making program on the Tel Aviv Stock Exchange by a year following strong liquidity gains and a 50% surge in daily trading volume.

Serbian President Aleksandar Vučić inaugurated a joint Israeli drone assembly plant on Thursday, securing key technology transfers and local manufacturing capabilities.

Delek Israel is negotiating to buy Eventim's 40.5% stake in the Zappa concert chain for 20 million NIS, following a legal dispute, bringing its total stake to 81%.

Nofar Energy completed a 200 million shekel investment deal with Meitav in its subsidiary Nofar Israel, reflecting a 2.3 billion shekel valuation and boosting renewable energy development.

Veteran advertising pioneer Shmuel Warshavsky will receive a lifetime achievement award, while major businesses join the anti-bullying Red Line campaign.

A newly revealed 2002 document shows LVMH signed an agreement to buy Hermès shares from heir Nicolas Puech's wealth manager, intersecting with a multi-billion-dollar legal dispute over missing shares.

The Government Companies Appointments Committee rejected Guy Loyan's appointment as acting CEO of Cross-Israel Highway, citing an irreconcilable structural conflict of interest with his role as chief legal counsel.

Media tech company Roundtable secures a $5 million investment from crypto billionaire and senior advisor Naor Baruch, bringing total recent funding to $10 million as the Nasdaq-traded firm expands globally.

Israeli airline Arkia is offering a 50% discount on flights from Ben Gurion Airport for Sukkot destinations during a limited "White Night" flash sale, alongside expanding its wide-body fleet with a new Airbus A330-300.

A profile by the Financial Times reveals that Dubai-based Vy Capital, founded by Alexander Tamas and Jon Herring, holds a 3.4% stake in SpaceX valued at $40 billion.

The Tel Aviv Stock Exchange is proposing a 5 million NIS retention package for CEO Itai Ben-Zeev alongside a strategic overhaul to become a public holding company targeting 1 billion NIS in revenue by 2028.

New Balance has filed a federal lawsuit against Decathlon for allegedly copying its iconic 'N' trademark on Kiprun running shoes, seeking a sales injunction and damages.

Gordon Companies Inc., owner of Christmas Central and major holiday brands, has filed for Chapter 11 bankruptcy in New York with debts up to $50 million.

Dganit Kramer has been appointed CEO of Hot Mobile, replacing Ilan Brok. The appointment follows the acquisition of the company by Delek Israel, Keystone Fund, and Leumi Partners for 1.2 billion shekels.