Sectors News Results

  • Oregon Fires Show Power Lines Pose Threat Beyond California

    In a remote, wooded canyon east of Salem, Ore., a lightning-sparked fire that had been smoldering since mid-August suddenly roared to life Sept. 7. Fanned by fierce, dry winds, the Beachie Creek fire exploded from about 450 acres to more than 132,000 acres within two days. The massive conflagration, which has since grown to more than 190,000 acres and has destroyed hundreds of homes, was made larger by downed power lines that ignited more than a dozen fires along the Santiam Canyon,...

  • Making Offices Safe for Workers, and Making Money Doing It

    By Ruth Bender| Photographs by Horatiu Sovaiala for The Wall Street Journal. Bringing employees back to work could mean big business for the designers, engineers and software companies selling products designed to boost office safety and ease workers' worries in the pandemic. Their solutions go well beyond plexiglass sheets and hand sanitizer.

  • Virgin Atlantic to Cut Jobs as Transatlantic Demand Continues to Dwindle

    Virgin Atlantic said Friday that it will cut more than a thousand jobs across the company as part of a 1.2- billion- pound restructuring package as the airline prepares for meager transatlantic demand and continued pandemic-related uncertainty for the rest of 2020.. Transatlantic flights represent around 70% of the airline's network, which has taken a hit since the pandemic forced many airlines to ground their fleets in response to global travel restrictions in March.

  • Chevron Pursues Exploration Deal in Iraq--Update

    By Benoit Faucon in London, Isabel Coles in Beirut and Michael R. Gordon in Washington. Chevron Corp. (CVX) is in talks to invest in a major Iraq oil field, according to Iraqi officials, part of a string of prospective deals with U.S. companies signaling confidence in that country's energy industry despite years of instability and start-and-stop foreign investment. Chevron (CVX) and the Iraqi government tentatively plan to sign a memorandum of understanding to develop one of Iraq's large...

  • Chevron Pursues Exploration Deal in Iraq--Update

    By Benoit Faucon in London, Isabel Coles in Beirut and Michael R. Gordon in Washington. Chevron Corp. (CVX) is in talks to invest in one of Iraq's large oil fields, according to people familiar with the situation, providing a vote of confidence in the country's energy industry despite years of instability and start-and- stop foreign investment. Chevron (CVX) and the Iraqi government tentatively plan to sign a memorandum of understanding to develop one of Iraq's large oil fields in the south of...

  • 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...

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