The Selling Gets Serious

February 28, 2020
Business

The speed read

Deals

• Thyssenkrupp agreed to sell its elevator business to the private equity firms Advent International and Cinven for 17.2 billion euros, or about $19 billion. (FT)

• DoorDash, the food delivery app, said it had filed confidentially for an I.P.O. (TechCrunch)

• David Solomon, Goldman Sachs’s C.E.O., said his bank didn’t need to do a big deal like Morgan Stanley’s $13 billion takeover of E-Trade. (Bloomberg)

• Steve Schwarzman of Blackstone said he wished he could afford to buy Bloomberg L.P., Mike Bloomberg’s financial data colossus. (Business Insider)

Politics and policy

• Some Wall Street executives quietly say they’d be OK with Senator Bernie Sanders as president, because they don’t think he can accomplish much of his agenda. (Vanity Fair)

• The Senate approved a $1 billion spending package to help rural telecom carriers replace equipment made by Huawei. (WSJ)

• Watch this space: A British court rejected plans to expand Heathrow Airport because the government illegally neglected its obligations under the Paris climate accord. (NYT)

Tech

• Cloud computing data centers aren’t guzzling as much energy as previously thought. (NYT)

• The F.C.C. may fine telecom carriers $200 million for selling customers’ real-time location data, its biggest fine in decades. (NYT)

Article source: https://www.nytimes.com/2020/02/28/business/dealbook/market-correction-coronavirus.html