Warren Buffett’s Berkshire Hathaway will invest $5 billion in Bank of America, stepping in to shore up the company in the same way he helped prop up Goldman Sachs during the financial crisis.
Even though sources close to Glencore felt the commodities trader had left “money on the table” with an offer price of 530 pence that valued the company at $59.15 billion, the company’s shares were stuck under water on their first day of official trade, dashing hopes of a strong start.
EBay said it plans to buy e-commerce company GSI Commerce, which owns Web businesses such as the flash site Rue La La and ShopRunner, for $2.4 billion. Ebay said it will offer shareholders of GSI $29.25 per share, a 51 percent premium over its closing price on Friday.
Check out the latest twist in the eBay – Craigslist saga.
A judge reinstated eBay’s 28.4 percent stake in Craigslist, but allowed the classifieds site to keep eBay off its board.
The social networking website of Mark Zuckerberg (pictured) is now worth $23 billion, close to the value of online shopping website Ebay, based on the price of a recent stock purchase by private equity firm Elevation Partners. Elevation purchased $120 million in Facebook stock from private shareholders, valuing the company at $23 billion, a person familiar with the matter told Reuters on Monday.
EBay, the online marketplace where shoppers can find anything from toys to cars to designer handbags, has launched a digital magazine.
The magazine, www.theinsidesource.com, is geared to “inspired shoppers” and features stories based on what eBay’s millions of users are looking for, according to the publication.
The online auctioneer announced its first greenhouse gas emissions reduction target on Monday, saying it has committed to a 15-percent cut to its corporate emissions by 2012, over a 2008 baseline.