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On January 19th, representatives of EU member states held an emergency meeting in Brussels, Belgium, on the 18th to discuss how to respond to the latest tariff threats issued by US President Trump regarding the autonomous territory of Greenland. That same day, European Council President Costa issued a statement saying that he had consulted with member states on the latest tensions in Greenland, reaffirming their unified position of support for Denmark and Greenland on principles of international law, territorial integrity, and national sovereignty. Costa stated that member states agreed that imposing tariffs would damage transatlantic relations and be inconsistent with the EU-US trade agreement. Costa also stated that the EU is "ready to defend itself from any form of coercion" and is ready to continue constructive engagement with the US on all issues of common concern. Costa said the EU will hold a special summit in the coming days. Officials indicated that the EU is considering holding the summit on January 22nd.European Commission President Ursula von der Leyen: We will always protect our strategic economic and security interests.European Commission President Ursula von der Leyen: We are firmly committed to upholding the sovereignty of Greenland and the Kingdom of Denmark.A senior Syrian official stated that the Syrian government will coordinate with companies that already hold interests in the relevant oil and gas fields to initiate development plans for these fields.A senior Syrian official said: "A team from the Syrian Ministry of Energy has been dispatched to the site to assess the large oil field and Konoko gas field in Deir ez-Zor."

DoorDash Performs Well Because of Inflation-resistant Takeout Demand

Aria Thomas

Nov 04, 2022 14:49

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In the third quarter, food delivery startup DoorDash Inc.'s orders reached a new high as demand remained strong despite rising prices and inflation, helping it to surpass Wall Street's revenue estimates and sending its shares 10% higher on Thursday.


Many continue to purchase food online from the comfort of their own homes, as they did during lockdowns, despite the fact that dining out is back in full swing.


According to a business official, though, DoorDash has observed a little impact from recession-aware clients purchasing fewer items each transaction.


The company achieved 439 million orders and a 30% rise in gross order value to $13.53 billion during the quarter. The gross order value is the sum of all app purchases and subscription payments.


In addition to the food industry, grocery stores, convenience stores, and retail all performed well. "Retail and supermarket partnerships will be a growth driver for DoorDash, giving the potential for a higher average order value," said Third Bridge analyst Nicholas Cauley. DoorDash estimated a fourth-quarter gross order value between $13.9 billion and $14.2 billion and confirmed its full-year forecast for the industry's most crucial metric.


The parent company of UberEats, Uber Technologies (NYSE:UBER), said on Tuesday that the number of active drivers has returned to September 2018 levels.


Driver shortages have not hurt DoorDash, with the exception of the first quarter of 2021, when the U.S. government distributed its second round of stimulus checks to help people cope with the pandemic. According to IBES data from Refinitiv, the company's third-quarter revenue climbed by 33% to $1.70 billion, exceeding analysts' forecasts of $1.63 billion. However, the company's net loss of $295 million, or 77 cents per share, exceeded expectations.

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