Sectors News Results

  • Aerospace Suppliers Brace for Hard Landing

    Companies that make parts for Boeing Co. (BA) and Airbus SE (EADSF) jets, and provide airlines with everything from engine spares to window shades, are shrinking rapidly in the wake of the pandemic-driven travel downturn. The Precision Castparts unit of Berkshire Hathaway Inc. (BRK/A) this week became the latest supplier to flag huge job cuts as the maker of aircraft-engine parts said it had shed 10,000 staff-- 30% of its workforce-- since the start of the year. Warren Buffett's investment vehicle took...

  • Red Ink Flows From GE's Jet-Engine Unit -- WSJ

    This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal. General Electric Co. (GE) posted a roughly $2 billion quarterly loss as revenue tumbled 24%, hurt by a steep decline in a jet-engine business that has been hobbled by the coronavirus pandemic. The aviation business, once a profit engine for GE, swung to a loss in the June quarter as both revenue and orders plunged.

  • GE Hit by Steep Decline in Jet-Engine Business

    General Electric Co. (GE) posted a nearly $2 billion quarterly loss as revenue tumbled 24%, hurt by a steep decline in a jet-engine business that has been hobbled by the coronavirus pandemic. The aviation business, once a profit engine for GE, swung to a loss in the June quarter as both revenue and orders plunged. The unit produces engines for Boeing Co. (BA) and Airbus SE planes but has had to cut production and jobs as airlines delay orders.

  • EBay to Sell Classifieds Unit for $9.2 Billion -- WSJ

    This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal. EBay Inc. (EBAY) agreed Tuesday to sell its classified-ads business to Norway's Adevinta ASA (ADEVF) for $9.2 billion in cash and stock, in a deal that allows the online auction pioneer to refocus on its core marketplace business while positioning it to benefit from growth in the classifieds unit. The deal comes as activist investors...

  • Norway's Adevinta Buys Ebay's Classified-Ads Business for $9.2 Billion in Cash and Stock

    Norway's Adevinta ASA Tuesday agreed to buy eBay Inc.' s global classified-ads business for $9.2 billion in cash and stock. Under the terms of the deal, Adevinta (ADEVF) will pay eBay (EBAY) $2.5 billion in cash and 540 million shares of Adevinta (ADEVF), representing a 44% stake in the company on a pro forma basis. "With the acquisition of eBay Classifieds Group, Adevinta (ADEVF) becomes the largest online classifieds company globally, with a unique portfolio of leading marketplace brands," Adevinta Chief...

  • EBay Nears Deal to Sell Classified-Ads Unit to Adevinta -- WSJ

    By Ben Dummett, Corrie Driebusch and Cara Lombardo. This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal. EBay Inc. (EBAY) is in advanced talks to sell its classified-ads business to Norway's Adevinta ASA (ADEVF), according to people familiar with the matter, as the online auction pioneer seeks to refocus on its core marketplace business.

  • EBay Nears Deal to Sell Classified-Ads Unit to Adevinta -- Update

    By Ben Dummett, Corrie Driebusch and Cara Lombardo. EBay Inc. (EBAY) is in advanced talks to sell its classified-ads business to Norway's Adevinta ASA (ADEVF), according to people familiar with the matter, as the online auction pioneer seeks to refocus on its core marketplace business. A cash-and-stock deal could be announced as soon as Monday assuming the talks don't fall apart, the people said.

  • EBay Nears Deal to Sell Classified-Ads Unit to Adevinta

    By Ben Dummett, Corrie Driebusch and Cara Lombardo. EBay Inc. (EBAY) is in advanced talks to sell its classified-ads business to Norway's Adevinta ASA (ADEVF), according to people familiar with the matter, as the online auction pioneer seeks to refocus on its core marketplace business. A cash-and-stock deal could be announced as soon as Monday assuming the talks don't fall apart, the people said.

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