Verizon selling AOL and Yahoo to equity firm
May 3, 2021
Verizon Communications has reached a deal to sell AOL and Yahoo to Apollo Global Management for $5 billion. The deal includes Verizon’s advertising technology business. Verizon will maintain a 10 percent stake. That unit generated $1.9 billion in first quarter sales, a 10 percent improvement over the same period in 2020.
Recent News
Tesla Recalls Cybertruck Due to Stuck Accelerator Pedal
Tesla is recalling almost 4,000 Cybertrucks due to a sticking accelerator pedal. The problem stems from an unauthorized lubricant used during assembly, which reduces the pad’s grip on the pedal.
Trader Joe’s Recalls Organic Basil Product Linked to Salmonella Outbreak
The company’s Infinite Herbs Organic Basil product is recalled due to a possible salmonella contamination.
Procter & Gamble Reports Mixed Results After Price Hikes
Procter & Gamble’s recent quarterly results showed a mix of gains and setbacks. Despite facing challenges in attracting shoppers due to increased prices over the past two years, the company managed to exceed earnings expectations.
JetBlue and Southwest Airlines Collision Narrowly Avoided at Reagan National Airport
An air traffic controller instructed one plane to cross the runway at the same time a second plane was taking off.