Illustration: Rebecca Zisser/Axios

EBay's board of directors will meet Friday to pick a buyer for the company's classified ads business, which could fetch between $8 billion and $10 billion.

Why it matters: This would be yet another big-money example of activist investor Elliott Management getting what it wants. Elliott in January 2019 began urging eBay to restructure, including by separating its classified and StubHub units from its flagship marketplace platform. EBay completed its StubHub sale this past February, just before the pandemic eviscerated the live events industry.

  • Contenders: Dutch conglomerate Prosus made the highest offer, per Bloomberg, but faces rival bids from Norwegian classifieds firm Adevinta and a private equity group that includes the Blackstone Group, Hellman & Friedman, and Permira.

The bottom line: "Ebay’s classified business includes brands such as Gumtree and Kijiji and offers online ads to more than 1,000 cities around the world. The unit posted an operating income of $83 million in the first quarter of 2020, with revenues of $248 million," reports Reuters.

Go deeper

Death spiral for consumers

Illustration: Eniola Odetunde/Axios

Despite some recent good news about dwindling household debt, the financial health of U.S. consumers is rapidly deteriorating — and families with children are faring the worst.

Why it matters: As Congress deadlocks over pandemic relief and President Trump issues executive orders of dubious potency, many Americans are suffering from a quintuple whammy: unemployment, overdue rent, mounting bills, food insecurity and health fears.

The end of Hong Kong's political freedom is here

Illustration: Annelise Capossela/Axios

The end of Hong Kong's relatively free political system is no longer looming. It's here.

Why it matters: The Chinese Communist Party is already wielding the new national security law it forced upon Hong Kong just over a month ago.

  • And through the extraterritoriality enshrined in the new law, Beijing has signaled that its push against pro-democracy activism is going global.

First look: New Trump ad doubles down on radical left frame for Biden

Combination images of President Trump and Joe Biden. Photo: Scott Olson/Getty Images/Mark Makela/Getty Images

The Trump campaign launches a new ad Tuesday in five early-voting states that hits Joe Biden on taxes and immigration, redoubling a strategy to paint the Democratic nominee as a tool of the radical left.

Driving the news: "In His Own Words" will be a "high seven figure" spend running in Florida, Arizona, North Carolina, Georgia and Wisconsin, a senior campaign official tells Axios.