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Illustration: Sarah Grillo/Axios

Just Eat Takeaway, a European restaurant delivery company, will merge with U.S. peer Grubhub, the companies announced Wednesday, CNBC reports.

Between the lines: Grubhub had spent weeks working on a deal to be acquired by Uber, even closing an early gap on price, but those negotiations were hampered by antitrust worries.

What they're saying: “Like ridesharing, the food delivery industry will need consolidation in order to reach its full potential for consumers and restaurants,” an Uber spokesperson said in a statement. “That doesn’t mean we are interested in doing any deal, at any price, with any player.”

Go deeper: Democrats line up against possible Uber-Grubhub merger

Go deeper

The fight over turning gig workers into gig employees

Illustration: Eniola Odetunde/Axios

The gig economy model powering a number of key tech giants threatens to break down in California, in a battle that may spill out across the country over whether gig workers should be considered employees.

Why it matters: Treating gig companies' workers as employees would guarantee them benefits and other rights they don't necessarily get as independent contractors. But the prospect presents an existential threat to the firms' business models.

Uber, Lyft win delay on court order forcing driver reclassification

Photo: Ali Balikci/Anadolu Agency/Getty Images

An appeals court in California granted Uber and Lyft a stay on an injunction that would have forced the companies to reclassify drivers as employees Friday morning.

Why it matters: The stay came just 12 hours before the companies planned to suspend their ride-hailing services across California rather than comply with the injunction. They're now free to continue with business as usual while the appeal process plays out.

40 mins ago - World

India sets new COVID world record as oxygen demand jumps seven-fold

COVID-19 patients being treated with free oxygen at a makeshift clinic in Indirapuram, Uttar Pradesh, India. Photo: Rebecca Conway/Getty Images

India has seen demand for oxygen jump "seven-fold" as the country set a new world record for daily COVID-19 cases on Thursday, per AP.

By the numbers: India's health ministry reported 412,262 new infections, taking the official tally past 21 million, and 3,980 deaths from the coronavirus in the past 24 hours. The official death toll now stands at 230,168. The actual numbers are believed to be much higher.