Today in 30 seconds
- Quiet purchasing kickbacks allegedly cost Subway shops millionsProsecutors say a nonprofit meant to secure low prices for franchise owners was used to divert more than $80 million in kickbacks.
- Uber is betting big on office catering ordersUber Eats agreed to buy workplace food service company ezCater for $2.3 billion to grow its large office catering business.
- Startup funding is clustering around fewer giant AI betsInvestors put $92 billion into North American startups in Q3, down 35% from Q2, with roughly two‑thirds going to AI companies.
- Google is locking in nuclear power for 20 yearsGoogle and Constellation signed a 20‑year power deal that will add 890 megawatts of new nuclear capacity and bring in AI tools to manage energy.
- Favoring chains over small liquor shops just drew FTC fireSouthern Glazer’s agreed to change its pricing after FTC allegations it gave large chains discounts and rebates not offered to small stores.
- Smooth insurance billing isn’t stopping frustrated customers from leavingInsurers earn top billing scores, yet one in four policyholders—and seven in ten Gen Z policyholders—are ready to switch providers.
- Higher rates are freezing new office projects in some citiesIn Metro Atlanta, developers say higher borrowing costs and construction prices make it tough to charge rents high enough to support new projects.
Today's Stories
7 storiesQuiet purchasing kickbacks allegedly cost Subway shops millions
What happened
A federal grand jury indicted Janet Risi Field and her brother Steven Louis Risi in a scheme that allegedly cost Subway franchisees more than $80 million. Prosecutors say shell companies collected over $60 million from profit‑sharing deals with vendor brokers and paid for homes, clubs and staff.
Sources (1)
Uber is betting big on office catering orders
What happened
Uber Eats plans to purchase ezCater, a workplace food service platform, in a $2.3 billion deal. The move is aimed at expanding Uber Eats’ large‑order business, which has become a significant opportunity in recent quarters.
Sources (1)
Startup funding is clustering around fewer giant AI bets
What happened
Funding to North American startups fell sharply from the prior quarter and was well below the all‑time peak. Investors put $92 billion into U.S. and Canadian startups, a 35% decline from Q2 but still 50% above year‑ago levels. Roughly two‑thirds of that funding went to artificial intelligence companies, including large rounds for Databricks, Safe SuperIntelligence and Crusoe.
Sources (1)
Google is locking in nuclear power for 20 years
What happened
Google and Constellation agreed on a 20‑year power purchase deal to expand nuclear generation. The agreement will add 890 megawatts of new nuclear power, and Google will help the energy company set up AI tools to handle energy use.
Sources (1)
Favoring chains over small liquor shops just drew FTC fire
What happened
Southern Glazer’s Wine and Spirits, the largest U.S. wine and spirits distributor, agreed to change its pricing toward mom‑and‑pop liquor stores. An FTC complaint said it gave discounts and rebates to large chains like Kroger, Total Wine and Walmart, but not to small stores selling the same items, allegedly violating federal fair‑competition laws.
Sources (1)
Smooth insurance billing isn’t stopping frustrated customers from leaving
)
What happened
Property and home insurers have the best billing and payment scores of any industry PYMNTS Intelligence studied this year. Even so, one in four policyholders and seven in ten Gen Z policyholders are ready to switch, as slow refunds, long disputes and limited ways to pay get far less attention than bill delivery.
Sources (1)
Higher rates are freezing new office projects in some cities
What happened
After several rate cuts, the Federal Reserve raised its benchmark rate by a quarter point, dampening hopes that new developments would soon pay off. Atlanta developers say labor shortages, inflation and rising construction costs make it hard to obtain office rents high enough to justify new buildings, so firms are focusing more on buying existing real estate instead.