Uber is Apparently Trying to Buy Grubhub

Uber wants to buy Grubhub, and Grubhub is apparently listening.

According to multiple reports, the ride-hailing company with a substantial presence in the third-party delivery market through Uber Eats has made overtures to acquire the major online ordering company and delivery provider in what would apparently be an all-stock deal. 

NYC Council votes to temporarily cap restaurant delivery app fees

The New York City Council on Wednesday passed legislation that temporarily caps the commission third-party delivery services are allowed to charge restaurants during the coronavirus pandemic.

The  bill  sponsored by Council Member Francisco Moya restricts commission fees charged by apps like Grubhub and Uber Eats at 20 percent during any state of emergency and 90 days following. The legislation comes as the city’s restaurants struggle to survive during COVID-19, with the state’s “pause order” forcing businesses to rely on take-out and delivery orders.

The restaurant industry has been the hardest hit by COVID19, suffering more losses than any other industry. Tell Congress to support the Restaurant Blueprint for Recovery to help our industry get the support we need: https://actnow.io/blueprint .
IRS: Business expenses not deductible under PPP loans

In its ruling  (IRS Notice 2020-32) , the IRS says it is disallowing business expense deductions to the extent companies have their loan forgiven to prevent recipients of PPP loans from receiving double tax benefits. 

The forgiven loan, the IRS says, amounts to a tax benefit — tax-exempt income — so allowing businesses to deduct the expenses that were paid using the loan proceeds would amount to a second benefit for the same money. 

NYC streets could become sidewalk cafes when restaurants and bars reopen after coronavirus restrictions lift

City streets could transform into sidewalk cafes to give patrons more space when restaurants and bars reopen as coronavirus restrictions are lifted.

An interagency group with the Department of Transportation is looking at how the city could use streets, curbs and sidewalks to allow for socially-distanced drinking and dining, Commissioner Polly Trottenberg said Tuesday.

‌
‌