News In Brief

In a business day top-heavy with automotive news, the No. 1 story was the joint announcement in Detroit and Stockholm that Sweden's AB Volvo group would sell its passenger-car division to Ford for $6.45 billion. Volvo now plans to concentrate on trucks, buses, marine engines, construction equipment, and its aerospace business.

In a $7 billion deal, Cleveland-based auto-parts manufacturer TRW Inc. said it will buy LucasVarity, a British producer of brake systems. Both companies also have aerospace divisions.

Yahoo! Inc. speeded up the pace of Internet consolidations with the announcement that it will buy GeoCities Inc., a Santa Monica, Calif., Web-page host company, for $4.58 billion. A union of Yahoo! and GeoCities traffic could make the combined firms No. 1 in terms of Internet use, according to industry figures. The terms represent a substantial premium over GeoCities' current market valuation of about $3.02 billion, including outstanding stock options. Last week, in a $6.7 billion deal, Yahoo! rival Excite Inc. agreed to be purchased by At Home Corp.

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.