Economy

The Tel Aviv District Court appointed a temporary trustee for OpenWeb after liabilities hit 177.5 million shekels. The tech firm faced collapsing revenues, a dispute with Microsoft, and a failed debt arrangement.

Gabi Fishman, acting head of the Information and Statistics Department at the Bank of Israel, is stepping down after 40 years of service, shaping major economic policies.

Foresight Autonomous Holdings announced plans to delist from the Tel Aviv Stock Exchange, with trading ending on January 1, 2027, as the firm's valuation plummeted 99% to 17 million shekels.

One Technologies expands its defense sector footprint by acquiring a controlling stake in Kubiya UX for millions of shekels, integrating 50 specialists into ONE Defense.

Kamari Retail acquired a 50% stake in Zalman's hot dog chain for 3.5 million NIS, targeting an expansion from 12 to 40 branches nationwide under strict kosher supervision.

Shufersal's Tav HaZahav and Fattal Hotels launched a partnership allowing guests to use the gift card at dozens of hotels nationwide at full value.

Skincare brand The Outset, founded by Hollywood star Scarlett Johansson, has shut down after four years. Analysts cite pricing strategy missteps and consumer fatigue with celebrity-backed cosmetics as key factors in its decline.

Israeli tech unicorn OpenWeb Technologies has filed for a stay of proceedings and insolvency protection at the Tel Aviv District Court, burdened by 177.5 million shekels in debt after losing major clients and facing a severe cash crunch.

TotalEnergies capped fuel prices at 1.99 euros for gasoline and 2.25 euros for diesel amid the Middle East conflict, costing up to 300 million euros while boosting its market share.

Israeli entrepreneur Vered Sharvit Biron has joined the elite Advisory Council of the International Luxury Hotel Association (ILHA), bringing her expertise in well-being hospitality to the global stage.

Generation Capital advances a 4.5 billion shekel acquisition of Shikun & Binui Energy, aiming to create a dominant player in Israel's energy infrastructure amid regulatory scrutiny.

TotalEnergies CEO Patrick Pouyann’s capped fuel prices at 1.99 euros per liter amid the Iran war, sparking criticism from the left but boosting net profit by 72% to $11.2 billion through surging demand.

The Burgerim chain is opening a new kosher branch in Zur Yiggal's Mitzpe Sapir industrial zone, investing around 500,000 shekels to serve local residents and corporate clients.

British and Canadian weapon manufacturers have begun probing Israeli suppliers over West Bank activities, mirroring broader economic sanctions and threatening the supply chain of critical defense components.

Israeli entrepreneur Amir Shariki's firm Aya New York is executing a full early bond redemption at 100% par value, exiting the Tel Aviv market after eight months.

Generation Capital CEO Erez Balshe is confident in finalizing the 4.5 billion NIS acquisition of Shikun & Binui Energy despite regulatory scrutiny over market centralization and infrastructure bottlenecks.

Comedy trio "Ma Kshur" and Raito are investing 7 million shekels to launch a new black coffee brand, challenging established market leaders in a 500 million shekel annual sector.

WS Game Company attempted to produce the first 100% US-made Monopoly amid high tariffs, facing soaring costs, manufacturing hurdles, and severe supply chain challenges.

The US FAA announced that a software glitch in Boeing 737 MAX flight computers is not a safety hazard, clearing the path for the certification of the MAX 10 model.

McDonald's is increasingly using artificial intelligence to set menu prices across the US, raising concerns among franchisees and regulators regarding algorithmic pricing.

State-run oil company Petrobras announced a new oil discovery in ultra-deep waters off Brazil's northern coast, boosting the country's energy superpower status.

Britain's Royal College of Nursing severed commercial ties with Teva UK under activist pressure, while the Israeli pharmaceutical giant continues robust financial growth and pipeline advancements.

Actress Sydney Sweeney's controversial Novig ad campaign helped drive the sports betting platform's valuation to $2 billion, delivering massive financial gains despite widespread athlete backlash.

Amazon is exploring an $8 billion deal to offload Nvidia AI chips to an external SPV and lease them back, aiming to fund massive infrastructure costs without harming its credit rating.

Israir advances New York summer 2027 ticket sales by two weeks amid high demand, offering over 41 international destinations alongside its extensive seasonal schedule.

Nike shares dropped nearly 10% in pre-market trading on Wall Street after reporting a 4% revenue decline and announcing an extensive restructuring plan.

Leslie's, the largest U.S. pool supply retail chain, filed for Chapter 11 bankruptcy. The firm will wipe out $685 million in debt, close 76 stores, and secure $150 million in new financing.

MidOcean Energy announced the successful completion of its 2026 capital raise, securing over $4 billion, far exceeding its original $2 billion target to expand its global LNG portfolio.

Mattel shares soared 18.8% following reports that Authentic Brands Group is eyeing a buyout valuing the toy maker above $6 billion. The news comes as CEO Ynon Kreiz steps down.

OpenWeb, a former Israeli unicorn valued at $1.5 billion, has filed for bankruptcy protection with 178 million shekels in liabilities, following leadership battles and a dispute with Microsoft.

Altshuler Shaham recorded net outflows of nearly NIS 200 million in September, ending months of strong fundraising as the firm announced a major corporate restructuring and split of its provident and pension operations.

Aya New York signed a $104M refinancing deal with a major U.S. bank, replacing its 292M shekel Israeli bond debt. The firm will repay bondholders in full ahead of schedule to focus on core Manhattan real estate operations.

Meta has saved billions using a 1980s tax law for AI data centers, but faces major IRS risks and a historic $16 billion tax dispute.

Cognyte Software has secured a one-year contract renewal valued at over $20 million with a Tier-1 national security agency in the EMEA region.

Micron reported a massive Q4 2026 net income of 37.7 billion dollars and revenue of 54.23 billion dollars, fueled by soaring artificial intelligence memory demand.

Afcon Holdings submitted a draft prospectus to the Israel Securities Authority for an initial public offering of its subsidiary, Afcon Renewable Energy, on the Tel Aviv Stock Exchange.

The Baran Group acquired a 75% controlling stake in Bar-El 27 for 35 million NIS, expanding its industrial manufacturing capabilities in infrastructure and security.

Spanish low-cost carrier Volotea has filed for creditor protection in Barcelona due to soaring jet fuel prices amid Middle East conflict, joining a growing list of collapsing global airlines.

Hedge fund billionaire Ken Griffin has donated $3 billion to Carnegie Mellon University, setting a record for the largest individual gift to higher education. Part of the funds will build a major tech campus in Miami.

Micron reported a massive surge in Q4 net income to $37.7 billion and beat revenue expectations with $54.23 billion, driven by surging AI demand for memory chips.