Economy

Recently, the "Mami" consumer club, owned by the media personality and entrepreneur, reached a significant milestone by joining the world of credit cards. Now, Maayan Adam and the company are recruiting additional staff members to join the team behind the scenes.

Chinese fast-fashion giant Shein is preparing for an IPO on the Hong Kong Stock Exchange. Bloomberg Intelligence analysts value the company at $22-25 billion, a significant drop from its 2022 peak.

The earnings season on Wall Street presents an unprecedented distortion where giant companies beat forecasts but are punished with sharp price drops, while a massive trading event of billions took place in Tel Aviv.

The stock exchange closed with declines in the two leading indices, as prominent stocks recorded a free fall of up to 10.16%, while on the other hand, a surprising stock soared.

The US Strategic Petroleum Reserve (SPR) has fallen below 300 million barrels, reaching its lowest level since 1983. Amid the war with Iran and concerns over the Strait of Hormuz, oil prices have jumped by 4%.

A Shake Shack customer uploaded a video to the web, which went viral with about 4.2 million views, and said that he decided not to tip for a milkshake order he made at a branch at the Salt Lake City airport, and was stunned to see that the price of the product increased.

The celebrations in Israel regarding the arrival of the international beauty chain Sephora were exaggerated. Following the much-discussed announcement, the international headquarters plans to clarify that Sephora has no intention of coming to Israel soon, and that it is a temporary sale of limited products from the private brand.

Famous investor Michael Burry says that Berkshire Hathaway is no longer an attractive investment in his eyes, following Warren Buffett's retirement as CEO and the transition of leadership to Greg Abel.

According to Bank of Israel data, the average interest rate on deposits for six months to a year fell in July to 3.59%, compared to 3.94% in April. The gaps between banks are significant, and the interest rate on deposits ranges from 2.9% to 6%. While interest rate cuts are quickly rolling over to deposits, the decline in mortgages is more moderate.

Following a strong earnings season that boosted global indices, new US inflation data could reshape the Federal Reserve's interest rate path. A Deutsche Bank review.

Chen Golan, Chairman and Co-Founder of Next Vision, spoke with ice about another quarter that shattered forecasts, the anticipated acquisition, and why the company is not rushing to NASDAQ. He also addressed the sensitive issue of stock sales by founders.

A series of resignations at the Walla news desk over a short period: since Ilail Shahar took office as head of the news desk, 8-10 editors have announced their departure, including senior desk managers and the veteran homepage editor. A former employee: "Everyone here has either found a job or is looking for one."

The Histadrut and Arkia management have signed a collective agreement for aircraft maintenance staff, securing salary increases and expanded social benefits through the end of 2028.

Deputy CEO and Head of the Business Clients and Partners Division, Odalia Moshe Ostrovsky, will conclude her tenure after two years, during which she also served as CEO of Diners. Her departure follows the resignation of the VP of Human Resources amid ongoing leadership tensions at CAL.

The major currencies are recording a mixed and particularly tense trend, as alongside decent weekly gains, unexpected declines are also being recorded among some of the strongest players in the digital market.

The former CFO of the Tel Aviv Stock Exchange, who brings over 20 years of experience in senior financial management, has been appointed to a key position in Israel's largest independent finance and pension group.

A new economic review by the Swiss investment bank Lombard Odier reveals that core earnings of S&P 500 companies recorded a 30% growth, despite a wave of layoffs and significant market concerns.

Official import data for July show sharp increases in the purchase of vehicles and certain electrical appliances, alongside particularly surprising data in the cigarette and fuel market in Israel.

Two new collective agreements signed today with employees of Hot Mobile and Ta'abura Yamit Ashdod include salary increases, improved rights, and regulation of working conditions. At Hot Mobile, employees will receive an average annual salary increase of 3%, along with a series of additional benefits.

After the severe disappointment he suffered in the Democrats' primaries, Naor Narkis continues his public activity and now reveals a situation that sparked the anger of one of his followers: "I didn't imagine."

Following a failure to meet license conditions, the Registrar of Contractors at the Ministry of Construction and Housing has revoked the licenses of five contractors.

Popular crypto analyst Ali Martinez publishes an intriguing forecast in which he sets a new and promising price target for the digital currency Solana (SOL) - $100.

The National Insurance Institute announces that unemployment and income support benefits will be distributed on June 12. Who is eligible for these payments, and what are the specific conditions for single parents and students?

With over 125,000 customers and expansion into Panama, North Macedonia, and Hong Kong, the Israeli payment company continues to accelerate. CEO Yair Nechmad details the expansion of AI services, global deployment, and the confirmation of the annual forecast.

The Histadrut and the management of Ashdod Marine Traffic have signed a new collective agreement. The deal includes salary increases and adapts work processes to accommodate new giant vessels.

Advocate Sigalit Assayag-Tzruya, who spent seven years chairing the Central District Appeals Committee for Planning and Construction, has joined Firon Law Firm as a partner. She will lead the firm's planning and construction practice, leveraging over 20 years of public sector experience.

The chip giant is leveraging the surge in its stock to raise capital and fund growth opportunities in the AI era. Shares are down in pre-market trading.

The Registrar of Contractors at the Ministry of Construction and Housing revoked the licenses of five contractors last week, after inspections raised suspicions that the engineering professional upon whose employment the license was granted is not actually employed by the companies.

A new study analyzes hundreds of transactions in Ahuza and Neve Sha'anan. High-demand neighborhoods in Haifa have maintained an upward trend, even as other parts of the real estate market are cooling down. Dr. Asaf Gastfreund: "The national picture hides variations between neighborhoods."

The "Koach LaOvdim" union has declared a labor dispute following a series of attacks on drivers, including stone-throwing and road blockades. The union states that entering Bat Ayin has become like entering a war zone. If no solution is found, service will be suspended in two weeks.

The Israeli financial system is targeting children with new digital tools and educational content. However, there is a fundamental conflict of interest in letting banks define financial literacy for the next generation.

The BEYOND tower in Givatayim, rising to 320 meters and including 78 floors, has received fire department approval following large-scale exercises testing emergency response and evacuation systems.

The "The Children's Place" chain has reported a difficult quarter with an 11.1% drop in sales and an operating loss of 42.2 million dollars. To survive the liquidity crisis, the company sold customs refunds at a discount for immediate cash.

The most dangerous moment in a young company's life is not when the initial plan fails, but months later, when the team identifies a necessary pivot but lacks the capital to prove it works.

The Israel Tax Authority is considering a review of the 'trapped profits' law, which imposes a tax burden on small and medium-sized businesses while exempting large corporations.

In addition to a 15% tariff on polysilicon components, the order sets a minimum price that will increase the cost of components by about 40%, to strengthen the American industry, despite the fact that their project backlog is already covered by equipment ordered in advance.

A new purchase model: the buyer pays only one million shekels in the first stage, enters the apartment upon its completion — and pays the balance only two years after moving in. The Hagag Group is launching this unprecedented new promotion at the Infinity project on Ibn Gabirol Street in Tel Aviv.

The chairman of Sela Capital plans to purchase company shares, signaling confidence in the asset after a 26% decline in value this year.

The Israeli brand that previously suffered millions in losses is making a comeback with a new star partner. However, a single comment on social media has already sparked a storm among customers.

The state budget deficit for the last 12 months stood at 3.3% of GDP, unchanged from June. State revenues in July climbed to 55 billion shekels.