EBay Inc's agreement on Tuesday to spin off PayPal next year will give the unit more flexibility to strike deals in the rapidly evolving payments space as growth at the company's traditional e-commerce business slows.
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eBay to Axe About 1,000 Jobs or 9% of Full-Time Workforce in Latest Round of Layoffs
EBay announced on Tuesday its plans to cut 9% of its workforce, which is equal to around 1,000 full-time jobs.
Carl Icahn picks 7.13% in Xerox, says it's undervalued
Billionaire investor Carl Icahn has bought 7.13 percent stake in Xerox Corp. Carl Icahn's statement terming the shares of Xerox are undervalued has triggered the price rise in stock. The stake sale will pave the way for strategic changes at Xerox Corp. Icahn will represent on Xerox's board and is expected to take up enhancing of operational performance.
A friend in need is a real friend: Paypal has lent more than $1 billion to small businesses
Paypal Holding Inc announced that its Working Capital Loans for small businesses has lent more than $1 billion to over 60,000 small businesses in the U.S., U.K., and Australia.
PayPal, eBay to stay interdependent for five years after split
PayPal, eBay Inc's electronic payments division, said the two firms had agreed that eBay would not reduce the volume of transactions it channels through PayPal, while continuing to get better rates for its merchants for five years after the two split.
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EBay Inc will begin running advertisements on its mobile app in the fourth quarter, moving the e-commerce company into the fast-growing and lucrative market for ads on devices such as smart phones and tablets.
EBay Inc (EBAY.O) is considering a spinoff of PayPal, its fast-growing payments unit, as soon as next year, tech news website The Information reported, citing sources.Shares of the online retailer jumped nearly 4 percent to $55.48 at midday.
Internet auction site eBay Inc said it planned to expand in Russia, still its top priority among emerging marketseven though the country faces increasing Western sanctions over the Ukraine crisis.
eBay Inc's StubHub online ticket resale service said it was the victim of a massive international cyber fraud ring, the details of which authorities plan to disclose on Wednesday as they announce arrests in the case.
EBay Inc posted a 13 percent rise in quarterly revenue on Wednesday, as better-than-expected results from its fast-growing PayPal division helped the online retailer overcome increasing competition from Amazon.com Inc and a well-publicized cyber attack.
LVMH Moet Hennessy Louis Vuitton and eBay Inc have settled a long-running court battle over the sale of counterfeit luxury goods on the U.S. company's online auction website.
John Donahoe, CEO of eBay Inc., said last Wednesday that he had contacted shareholders of the company to support him in resisting demands by Carl Ichan, the billionaire activist investor who demanded spinning off PayPal.
In what could potentially set the stage for a battle with an activist investor, eBay Inc has rebuffed the proposal of Carl Icahn to spin-off its payments platform PayPal, Reuters reported.
EBay Inc's fourth quarter earning estimates were in the range of USD0.79 to USD81 per share, lower than analysts' estimates.
