Ed Kalecki

Uber has offered to take over delivery hero in a deal that would value the German delivery company at about $11.6 billion as it seeks to ramp up competition with DoorDash outside the U.S.

The Berlin-based company said in a statement Saturday that they remain fully focused on executing their strategic review process.

The price is three cents higher than Delivery Hero's closing share price on Thursday, the day before Bloomberg News first reported the talks.

Uber, which owns 20 percent of Delivery Hero, also has options for another 5.6 percent of shares.

Ed Kalecki, Bloomberg Radio.

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Government data on Thursday is expected to show the personal consumption expenditures price index jumped 3.8% in April from a year ago.

That would put inflation a full percentage point higher than it was in February, marking the biggest two-month acceleration since late 2021.

The so-called core price measure likely picked up in April to the fastest pace since late 2023.

The surge in prices for fuel and other materials created by the war in Iran

is reverberating throughout the world economy, with consumer sentiment in the U.S.

tumbling to a record low and global businesses highlighting cost concerns.

Ed Kalecki, Bloomberg Radio.

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I'm Ed Kalengi.

President Trump says that a peace deal with Iran has been largely negotiated and he plans to announce the deal shortly.

Trump wrote in a social media post, in addition to many other elements of the agreement, the Strait of Hormuz will be reopened.

Earlier, Iran said talks on a peace deal with the U.S.

focused on ensuring fighting ends on all fronts are progressing and that other key points of contention would be ironed out at a later stage.