EBay to cut 10 per cent of workforce: related news

EBay to cut 10 per cent of workforce

EBay will cut 10 per cent of its work force and spend about $US1.3 billion ($1.8bn) to buy online payment and classified companies to counter a slowdown in its main web auctions business.

AT&T profit crimped by iPhone subsidies

AT&T Inc.'s profit rose 5.5 per cent in the third quarter, but missed analyst expectations because of strong sales of the iPhone, which the carrier subsidizes. America's largest telecommunications company said yesterday it earned $3.23-billion (U.S.), or 55 cents per share, in the July-September period, up from $3.06-billion, or 50 cents, in the same quarter a year ago. Excluding $1.1-billion in merger-related costs, the Dallas-based company earned 67 cents per share. Analysts polled by Thomson Reuters were expecting 71 cents. AT&T's earnings took a hit of $900-million, or 10 cents per share, in subsidies for the 2.4 million iPhones it sold. Revenue rose 4 per cent to $31.3-billion. The iPhone subsidy works out to about $375 per unit. AT&T says the subsidy will pay off, because iPhone owners pay 60 per cent more per month in service fees

AT&T profit crimped by iPhone subsidies

AT&T Inc.'s profit rose 5.5 per cent in the third quarter, but missed analyst expectations because of strong sales of the iPhone, which the carrier subsidizes. America's largest telecommunications company said yesterday it earned $3.23-billion (U.S.), or 55 cents per share, in the July-September period, up from $3.06-billion, or 50 cents, in the same quarter a year ago. Excluding $1.1-billion in merger-related costs, the Dallas-based company earned 67 cents per share. Analysts polled by Thomson Reuters were expecting 71 cents. AT&T's earnings took a hit of $900-million, or 10 cents per share, in subsidies for the 2.4 million iPhones it sold. Revenue rose 4 per cent to $31.3-billion. The iPhone subsidy works out to about $375 per unit. AT&T says the subsidy will pay off, because iPhone owners pay 60 per cent more per month in service fees

moneysupermarket.com: Bank of England interest rate cut

Commenting on the Bank of England interest rate cut to 3 per cent, Kevin Mountford, head of banking at moneysupermarket.com said: "The decision to cut rates by 1.5 per cent is a major shock tactic by the Old Lady to try and kickstart the economy and sidestep the almost inevitable recession. Although it is great news for some homeowners, it's a devastating blow for savers who will undoubtedly see the rates on their savings accounts slashed. Having said that, the silver lining may be that cash strapped banks will still be competing to get retail money in, and therefore some may not pass on the base rate cut in full in an attempt to maintain competition for those all important savings deposits. There are still one or two 7 per cent plus deals to be found if you're prepared to lock your money away for a fixed term but savers need to move quic

eBay Launches Pay-Per-Click Advertising Program for Sellers

eBay sellers who want to draw more attention to their listings can advertise on eBay through a new program called eBay AdCommerce. The pay-per-click ad program, similar to Google AdWords or Yahoo Search Marketing, allows eBay sellers to advertise their listings and eBay Stores on eBay search results pages via a customized text ad. Sellers decide how much they are willing to pay each time a buyer clicks their ad after running a search for certain keywords. The ad includes a title, short description, and an optional image, which appears at the bottom of search results pages.

eBay (EBAY) NewsBite - EBAY Covered In Lee Allen Report Today

eBay (EBAY) was covered in a Lee Allen Report today and the stock is now at $19.52, down $1.33 (-6.38%) on volume of 4,864,998 shares traded. To see the report, and read Lee's musings on the mortgage crisis, go to http://www.iotogo.com/la100208 . Over the last 52 weeks the stock has ranged from a low of $19.95 to a high of $40.73. eBay stock has been showing support around $19.80 and resistance in the $22.76 range. Technical indicators for the stock are bullish and S&P gives EBAY a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on EBAY the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 22.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

Ebay to fire 10 per cent of work force

San Francisco - Online commerce giant eBay is to fire 10 per cent of its workforce, or about 1,400 workers, the company said Monday. The Silicon Valley internet pioneer also announced that it was online payments firm Bill Me Later for 945 million dollars in cash and stock. eBay will combine the company, which processes online payments for companies like Wal-Mart Stores and Continental Airlines, with its rapidly growing PayPal division.

Ebay lays off 10 per cent of workers, acquires new company

San Francisco - Online commerce giant eBay is to fire 10 per cent of its workforce, or about 1,400 workers, the company said Monday. The Silicon Valley internet pioneer also announced that it was acquiring online payments firm Bill Me Later for 945 m...

eBay plans to cut workforce by 10%

San Francisco: Online retailer eBay Inc, trying to reverse years of slowing growth in its auctions business amid rising competition and a spreading financial crisis, said that it would cut 10 per cent of its global work force even as it spends $1.3 billion to buy three web businesses.

eBay plans to cut workforce by 10% to stay competitive

San Francisco: Online retailer eBay Inc, trying to reverse years of slowing growth in its auctions business amid rising competition and a spreading financial crisis, said that it would cut 10 per cent of its global work force even as it spends $1.3 billion to buy three web businesses.

Data Analysis More Difficult with New eBay Listing Format

eBay seller Doctor-Deals noticed a problem with eBay's third-party data analysis tool caused by the addition of eBay's new listing format. eBay, which recently stopped offering its own eBay Marketplace Research tool, refers users to a third-party service from Terapeak, an eBay Certified Provider. Terapeak's service allows sellers to determine average selling prices and best performing keywords and categories for their listings. But recent changes at eBay hamper users from getting timely data for fixed-price listings.

eBay Has To Turn Over Info On Canadian PowerSellers

Michael Geist points us to the news that a Canadian court has told eBay Canada that it needs to cough up info on Canadian PowerSellers. The case involves attempts by the Canadian government to determine if eBay PowerSellers are underreporting earnings on their taxes. Canadian tax officials had asked eBay Canada to hand over data on various Canadian PowerSellers, but the company refused, noting that the info was actually held by eBay in the US, and thus the data was not subject to the Canada Revenue Agency's jurisdiction. The court disagreed, noting that eBay Canada had easy access to the data at a "click of the mouse." For the most part, this does make sense, though it does raise some questions about jurisdictions. Perhaps this is a special case, due to the close relationship between eBay and eBay Canada, but it still is a bit worrisome t

Ebay to reduce workforce by 10%

Ebay has announced plans to cut around 10 percent of its global workforce. The announcement came alongside a warning for third-quarter revenues to come in at the low end of expectations, while net profit should exceed the company's previous forecast. The workforce restructuring will affect 1,000 employees as well as several 100 temporary workers, and result in a reduction in the number of open positions. Ebay said the move will "simplify and streamline" its organisation, improve the cost structure and stregnthen the competitiveness of its existing businesses. The reduction is expected to result in pretax restructuring charges of USD 70-80 million, recorded mainly in Q4.

EBay to cut 1,600 jobs

NEW YORK - After a series of changes designed to draw more people to its online marketplace, EBay Inc.'s latest alteration is aimed at its own employees. The auction site operator said Monday it will cut about 1,600 jobs, 10 per cent of its workforce, in its largest round of dismissals ever.

People are too casual about disclosing personal data

84 per cent of the UK public reveal their postcode and date of birth. Meanwhile over a third (34 per cent) reveal their mother's maiden name, 29 per cent reveal their place of birth and 10 per cent give bank account information.

Head of eBay Stores and ProStores Leaves eBay

Eric Shoup, General Manager for the eBay Stores and ProStores business units at eBay, has joined the Generations Network (TGN) as vice president of product for the Ancestry.com business unit. Shoup had been at eBay for five years. Before heading eBay's stores units, Shoup had assembled and led eBay's first global mobile product team.

Vodafone plans cost cuts after profit falls 35 per cent

Vodafone Group PLC recorded a 35-per-cent slump in first-half profit yesterday and booked a hefty loss on the value of its Turkish business operations. Vodafone, the world's biggest mobile phone company by revenues, also said it planned to cut costs by about £1-billion ($1.85-billion) from 2011, while the group downgraded its revenue outlook for the full year. Vodafone said profit after tax fell to £2.14-billion in the six months to September, down 35 per cent from the year-earlier first half. The company booked a loss of £1.7-billion on the value of Vodafone Turkey. VOD (London) rose 7 pence to £1.15.

New deals from RBS & Natwest

The new mortgage offers a rate of just 5.74 per cent with a loan to value (LTV) of up to 75 per cent. In addition, all customers taking advantage of the new 2 year fixed rate, will benefit from a reduced fee of £499 from £999 and a lower interest rate by up to 0.45 per cent, compared with the previous RBS and NatWest 75 per cent LTV deal.

Vodafone to acquire Vodacom stake

Vodafone has agreed to acquire an additional 15 per cent stake in Vodacom Group Limited from Telkom SA Limited, for a cash consideration of around £1.4 billion, less the pro rata consolidated attributable net debt of Vodacom Group of approximately £0.1 billion. The transaction will increase Vodafone’s shareholding in Vodacom Group from 50 per cent to 65 per cent. Vodacom Group will be listed on the Johannesburg Stock Exchange and the remaining 35 per cent of Vodacom Group will be demerged by Telkom to its shareholders.

Need to know: United bid for Kipling ... Next job cuts ... RBS vote

Inflation: Official figures due out tomorrow are expected to show that inflation on the consumer prices index fell to 4.9 per cent in October, from 5.2 per cent in September. The retail prices index, the alternative measure of inflation that includes housing costs, is tipped to have fallen to 4.6 per cent, from 5 per cent.

Sony cuts forecast, blames yen, demand

Sony Corp. slashed its annual operating profit forecast by more than 50 per cent to far below market estimates in its second downward revision this year, blaming a firmer yen and slower flat TV and digital camera demand. The company said it may close some plants, reduce capital spending and cut jobs to cope with a weakening business environment. Sony cut its operating profit forecast for the year through March to ¥200-billion ($2.6-billion) from ¥470-billion, well short of the market consensus of ¥381.8-billion in a Reuters poll. Sony lowered its full-year profit forecast by 38 per cent to ¥150-billion, and trimmed its sales outlook by 2 per cent to ¥9-trillion. 6758 (Tokyo) fell ¥155 to ¥2,295.

India spamming, and how

BANGALORE: India is the 7th largest spam sender in the world, according to Trend Micro Incorporated, a global leader in Internet content security. India is the leader among Asian countries in spam, accounting for more than 4 per cent of the total global spam. It is ahead of other Asian countries such as China (3.39 per cent), Republic of Korea (2.57 per cent) and Thailand (2.04 per cent).

JPMorgan, Wells Fargo top profit forecasts

JPMorgan Chase & Co. and Wells Fargo & Co. posted better-than-expected earnings yesterday despite higher credit losses, underlining their standing as among the strongest big banks in the battered U.S. financial sector. Though quarterly profit fell 84 per cent at JPMorgan and 25 per cent at Wells Fargo, investors were heartened tighter credit and a souring economy didn't hurt more. Both banks added deposits as nervous customers fled weaker rivals. Quarterly profit at JPMorgan fell to $527-million (U.S.) from $3.37-billion a year earlier. Revenue fell 9 per cent to $14.74-billion. At Wells Fargo, profit dropped to $1.64-billion from $2.17-billion a year earlier. Revenue rose 5 per cent to $10.38-billion. JPM (NYSE) fell $2.22 to $38.49. WFC (NYSE) fell 17 cents to $33.

JPMorgan, Wells Fargo top profit forecasts

JPMorgan Chase & Co. and Wells Fargo & Co. posted better-than-expected earnings yesterday despite higher credit losses, underlining their standing as among the strongest big banks in the battered U.S. financial sector. Though quarterly profit fell 84 per cent at JPMorgan and 25 per cent at Wells Fargo, investors were heartened tighter credit and a souring economy didn't hurt more. Both banks added deposits as nervous customers fled weaker rivals. Quarterly profit at JPMorgan fell to $527-million (U.S.) from $3.37-billion a year earlier. Revenue fell 9 per cent to $14.74-billion. At Wells Fargo, profit dropped to $1.64-billion from $2.17-billion a year earlier. Revenue rose 5 per cent to $10.38-billion. JPM (NYSE) fell $2.22 to $38.49. WFC (NYSE) fell 17 cents to $33.

eBay Opens Keyword Ad Program to Sellers

eBay will allow sellers to advertise on its website in a new keyword ad program that will compete with its program for Shopping.com listings and Yahoo Ads. eBay AdCommerce is a pay-per-click system that allows eBay sellers to advertise their listings and eBay Stores via a text ad on eBay search result pages. The system works like other ad networks, with advertisers bidding on keywords.

Search took 0.54 seconds.