CTech's Tuesday Roundup of Israeli Tech News

Teva announces $23.25 billion opioid abuse settlement agreement. Teva announced on Monday a settlement with both Cuyahoga and Summit counties of Ohio, averting the trial scheduled for later that day, and an agreement in principle for a global settlement framework. Read more

Alibaba sets up direct shipping route to Israel ahead of singles day. Despite Israel’s relatively small population, Alibaba lists it among AliExpress’ ten hottest markets, and Israeli shoppers came in fourth in the site’s list of global transactions during last year’s Singles Day sales. Read more

Israeli banks Leumi and Discount to raise CoCos outside of Israel. Both banks are looking to raise around $280 million over two years, according to two people familiar with the matter who spoke to Calcalist on condition of anonymity. Read more

SoftBank to take control of WeWork, report says. The Japanese holding company is in advanced talks to take over the crashing co-working company, valuing it at $7.5 billion to $8 billion, CNBC reported Monday. Read more

Interview | Pedestrians are good for business, says founder of city planning Startup. Mariela Alfonzo’s company, State of Place, develops software that analyzes how friendly a given environment is for pedestrians and calculates the costs of plans to improve walkability against their potential financial benefits. Read more

Renault–Nissan–Mitsubishi, Hyundai, Volvo back car cybersecurity startup Upstream. Upstream develops cloud-based security technologies that offer data protection, anomaly detection, and real-time analytics against cyberattacks on connected cars. Read more

 

Rapper Snoop Dogg partners with Israeli cannabis company Seedo. Seedo develops a device roughly the size of a mini-fridge for the automated, at-home growing of cannabis and other plants. Read more