Just Eat Takeaway.com Down 7% After NYC Council Votes in Favor of Fee Cap
August 27 2021 - 2:44PM
Dow Jones News
By Josh Beckerman
Shares of Grubhub owner Just Eat Takeaway.com NV were recently
down 7%, to $17.51, after the New York City Council voted Thursday
to make current regulations for food-delivery apps permanent,
including a cap on fees.
Other parts of the bill include licensing requirements and a
prohibition against listing restaurants without their approval. In
2020, the council passed legislation temporarily prohibiting
third-party services from charging restaurants more than 15% per
delivery order. Grubhub has said a permanent cap would cause
"unprecedented, damaging and long-term consequences" for
restaurants, workers and customers.
DoorDash Inc. was down 1%, to $188.30. Uber Eats owner Uber
Technologies Inc. rose 0.5%, to $40.83.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
August 27, 2021 14:42 ET (18:42 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Uber Technologies (NYSE:UBER)
Historical Stock Chart
From Aug 2024 to Sep 2024
Uber Technologies (NYSE:UBER)
Historical Stock Chart
From Sep 2023 to Sep 2024
