Uber expressed interest in Expedia

Right this moment’s agenda: Gaza meals scarcity; Meta will get rebuked; Africa and AI; Trump’s crypto embrace; and the astronaut wears Prada

Good morning. We start with an unique story on Uber, which explored a potential bid for Expedia, the almost $20bn US journey reserving web site.

What occurred: The ride-hailing firm approached advisers in current months after the concept of an Expedia acquisition was broached by a 3rd get together to look at whether or not such a deal can be potential and the way it may very well be structured, in keeping with three individuals aware of the method. 

Why it issues: A take care of Expedia would make it by far Uber’s largest acquisition because it seems to be to diversify additional and discover new avenues for progress. In recent times, Uber has expanded from its ride-hailing roots into prepare and flight bookings, meals supply, company logistics and promoting because it seeks to remodel itself right into a “tremendous app”.

Uber chief Dara Khosrowshahi instructed the Monetary Instances this week: “Wherever you wish to go in your metropolis and something that you simply wish to get, we wish to empower you to take action.” Including Expedia and its reserving know-how would turbocharge these ambitions. Read the full report.

Right here’s what else I’m conserving tabs on at the moment:

• Excessive-level conferences: Nato secretary-general Mark Rutte hosts defence ministers for the primary time since taking on his position. The European Council’s two-day summit begins with Ukraine and Center East wars on the agenda.

• Financial information: The EU has September shopper inflation figures. IMF managing director Kristalina Georgieva speaks on the worldwide financial outlook forward of annual IMF and World Financial institution conferences in Washington subsequent week.

• Central banks: The European Central Bank and Turkey determine on rates of interest.

• Outcomes: ABB, Blackstone, Centamin, Mondi, Netflix, Nokia, Publicis Groupe and Schindler report.

5 extra prime tales

1. The World Meals Programme will run out of provides for a whole lot of hundreds of individuals in north Gaza in every week and a half if Israel doesn’t instantly permit a pointy enhance in support deliveries, its director within the Palestinian territories has warned. Israel has prevented the UN from providing any aid to the north for two weeks, in keeping with the pinnacle of the UN company for Palestinian refugees.

2. Meta has been criticised for calling its synthetic intelligence fashions “open-source” by the group that has spearheaded open-source software program for the previous 25 years. The social media group is “complicated” customers and “polluting” the time period through the use of it to explain the Llama AI mannequin, which stops in need of full openness, stated Open Supply Initiative head Stefano Maffulli. Read the full interview.

3. Many unbranded toys made outdoors Europe however bought throughout the EU by on-line retailers together with Temu and Amazon are harmful for youngsters, an trade survey exhibits. Toy Industries of Europe stated at the moment that 79 per cent of the toys it examined didn’t meet EU security requirements. Here’s why toys with choking hazards and chemicals manage to get through.

4. A brand new digital property enterprise promoted by Donald Trump and his three sons is being shunned by a lot of the crypto trade as executives concern the challenge will undermine efforts to rebuild belief with customers after years of high-profile collapses and frauds. Learn extra on World Liberty Monetary, the crypto venture the Trump family is embracing.

5. UK Prime Minister Sir Keir Starmer yesterday joined forces with chancellor Rachel Reeves to face down a cupboard revolt over plans for “grim” curbs to public spending subsequent yr. Reeves has confronted resistance from quite a lot of ministers over her plan to rein in public spending in 2025-26, with some cupboard colleagues writing letters to Starmer to complain about the Treasury’s approach.

• Capital good points tax: Reeves is prone to goal her anticipated enhance in UK CGT on the sale of shares moderately than second houses, former Treasury officers stated.

The Huge Learn

Synthetic intelligence is being marshalled in a number of fields to alleviate issues in a few of the world’s poorest nations — in Zambia to assist enhance medical diagnostics, in Kenya to allow farmers to establish crop illness and in Ethiopia to tailor training supplies to pupils’ wants. However some concern the technological rush will deepen a digital divide.

We’re additionally studying . . . 

Chart of the day

Federal filings present Kamala Harris raised $500mn greater than Donald Trump within the third quarter because the candidates head into the ultimate stretch of the US presidential marketing campaign. The info, launched late on Tuesday, offers the general public with a greater sense of the campaigns’ stability sheets. Here are the four key takeaways.

Take a break from the information

Prada and the US start-up Axiom House unveiled yesterday the spacesuits that can take astronauts to the Moon on Nasa’s upcoming Artemis III mission. The 200kg-plus extravehicular mobility unit spacesuit comes with a sizing scheme that’s anticipated to accommodate a variety of physique shapes. Whereas the Italian style group is understood for its experimental nature, the spacesuit endeavour is taking it to the next level.

Further contributions from Benjamin Wilhelm and Gordon Smith