Economy

Kitchen Consigliere, a New Jersey mafia-themed Italian restaurant owned by ex-mobster Angelo Lutz, has filed for Chapter 11 bankruptcy with debts reaching up to $500,000.

Kisu Hospitality's historic IPO on the Tel Aviv Stock Exchange has been frozen after institutional investors rejected its valuation, offering only 270 million shekels.

Dori Navoi steps down as CEO of Nawi Group after 16 years to become Vice Chairman, with Bank Leumi's Tsahi Artzi slated to take over by July 2027.

Major public transport operators in Israel have filed a massive 34.7 million NIS lawsuit against the Ministry of Transport over harsh unilateral penalties and deductions.

Netflix's ad-supported tier reaches 250 million monthly active users, driving advertising revenues toward $3 billion this year despite a slowdown in core growth.

Arik Stiltman published a dramatic expose detailing the bitter ownership battle at Maccabi Tel Aviv Basketball ahead of next week's crucial arbitration proceedings.

Yochananof is deploying 4,000 Cust2Mate smart carts across its branches, integrating AI, scanning, and payment features to streamline checkout and reduce retail congestion.

Britain's push to sanction trade with Judea and Samaria threatens to set a dangerous precedent that could eventually engulf Israel's broader economy and service sectors.

The European Commission has unveiled a major reform of public procurement rules to prioritize European goods and curb Chinese economic power in 2.6 trillion euro public markets.

Rami Levy has filed a 2.3 million NIS lawsuit against two Super Cofix franchisees over un-deposited cash revenues and alleged contract breaches. The defense denies the claims, citing operational pressure and salary payments.

ODDITY Tech reported Q2 2026 net revenues of $181 million, bolstered by strong growth in SpoiledChild and METHODIQ alongside ongoing progress in resolving the IL MAKIAGE algorithm disruption.

Carrefour Israel operator France Israel Group filed a preliminary IPO prospectus on the Tel Aviv Stock Exchange targeting a valuation of up to 1 billion NIS, alongside reporting its second-quarter financial results for 2026.

Israel launched the National Tuna Project in Eilat with a 30 million NIS investment to domesticate bluefin tuna and build a sustainable local aquaculture export industry.

India's SFIO has recommended probing tech giant Xiaomi over foreign investment and business model irregularities, compounding the firm's ongoing regulatory and market challenges.

Fintech giant Block, led by Jack Dorsey, has applied to the OCC to establish Builders Bank & Trust to offer digital asset custody under federal regulation.

As AI tool adoption decentralizes among employees, organizations face a new wave of shadow spending. CFOs must balance operational freedom with real-time financial oversight.

NewMed Energy completed its Series B bond offering with 2.4 billion NIS in demand, raising 1.751 billion NIS to fund Leviathan Phase B, Aphrodite, and debt repayment.

Dudu Ezra Group has signed an agreement to acquire the Stop Market chain for 600 million shekels, creating a retail group with 22 branches and 1.5 billion shekels in annual revenue.

Tiv Taam announced that its subsidiary Issarco and Granot signed an MOU to form a 50-50 joint venture supplying fruits and vegetables, starting in Q2 2027.

Energean reported a strong first half of 2026 with a 45% jump in net profit and signed a $1.4 billion gas supply deal for the Sorek power plant, bringing its total future revenue backlog from major projects past $5 billion.

Discount Capital is acquiring a 20% stake in services firm Naton for 42 million shekels at a 210 million shekel valuation. Following the deal, controlled by Brand, Naton shows strong revenue growth and an order backlog reaching 2.2 billion shekels.

Hachshara Insurance and Finance is launching a dedicated credit brokerage for its agents to offer comprehensive mortgages, household loans, and business financing solutions.

Prytek is fully merging Israeli fintech firm Scanovate in a deal valued at up to 100 million dollars. The transaction includes immediate and performance-based payments.

A leaked conversation involving Maccabi Tel Aviv co-owner Udi Recanati reveals bitter disputes with former partners, objections to Arik Shtilman, and details on bringing in new investor Jason Levien amidst an ownership battle.

Kedma Capital is in advanced talks to acquire 50% of the Shomsum restaurant chain from founder Tomer Alon for tens of millions of shekels, aiming to expand its Gush Dan branches.

A severe partnership dispute within Arieli has delayed its debt settlement with Phoenix Investment House over Elron shares. Partners secured a 20 million shekel injection to win a one-month extension.

In 2019, partners confronted EAK Holdings CEO Ronen Elad over millions in unauthorized withdrawals. Elad repaid the funds, bought out his partners, and continued his business career.

Controlling shareholders Gilad Altshuler and Kalman Shaham are exploring the sale of their stake in Altshuler Shaham Finance. The deal could reach 1 billion NIS, as the investment house manages 112 billion NIS and trades at a valuation of 1.4 billion NIS.

Lionel Messi has reached an in-principle agreement to acquire 100% of the Spanish Segunda División club CD Eldense. The deal is pending due diligence and approval, marking his second football investment in Spain.

Hachshara Insurance is launching a credit broker platform for agents to intermediate loans, mortgages, and business credit, expanding beyond traditional insurance and pensions.

Just Eat has decided against launching its brand in Israel for now, following a pilot in the south. Subsidiary Ten Bis will focus on its core B2B corporate catering operations.

Israel Discount Bank has petitioned state regulators to cancel its mandated sale of credit card company CAL to the Horesh-Harel group, citing prohibitive conditions imposed by the Competition Authority that threaten the 4 billion shekel deal.

Tzachi Abu and former Shikun & Binui CEO Tamir Cohen are acquiring a 25% stake in real estate firm WeBox for 76 million shekels following the collapse of Abu's previous G-City deal.

Sarit Strasmeister has been appointed to head Partner's marketing communications division, bringing over 15 years of industry experience from leading firms.

The Sea Lion oil project led by Israeli firm Navitas Petroleum in the Falkland Islands has reignited tensions as Argentine President Javier Milei threatens legal action, exposing a mix of territorial disputes and billions in energy investments.

Access Partners has raised $18 million in three months, backed by Mor, Profit Finance, and the Shestovitch Group. Founded by FAI executives, the fund invests alongside major VCs in growth tech companies.

Delivery startup HAAT is expanding beyond Tel Aviv into the Center and Sharon regions, hiring a sales lead following an April funding round of 60 million shekels.

Controlling shareholders of Eldan Transportation, the Dahan family, purchased shares worth 5.3 million shekels. The move follows Q2 2026 financial results showing 420 million shekels in revenue and a 3.9 million shekels dividend approval.

Ten Bis clarifies that its delivery service continues as usual following reports of a strategic shift toward the corporate sector and phasing out pure consumer operations by late 2026.

Two agricultural companies founded by farmer Zion Swissa have filed for a stay of proceedings at the Be'er Sheva District Court, citing debts of 30 million NIS. The firms blame the COVID-19 pandemic, the Iron Swords War, and severe labor shortages for their financial collapse.