Wednesday newspaper round-up: Ebay, Tesco, Microsoft
Online auction site Ebay announced plans to spin off its Paypal business into a completely separate publicly traded company in 2015, the Wall Street Journal reported on Wednesday.
eBay Inc.
$52.02
12:59 26/04/24
FTSE 100
8,139.83
17:09 26/04/24
Microsoft Corp.
$406.32
13:04 26/04/24
Tesco
288.90p
16:40 26/04/24
Ebay’s decision comes less than a month after Apple unveiled Apple Pay, a new mobile payment technology that could pose serious competition to PayPal and Alibaba.
Furthermore, as little as six months ago, the company said that the two businesses were “better together”, but Ebay chief executive John Donahoe stressed that the company had taken the decision before the unveiling of Apple Pay on 9 September.
Tesco’s new chief executive (CEO) Dave Lewis has decided to put Blinkbox, the firm’s on-demand video service, up for sale, The Times reported.
Under Lewis’ predecessor, Philip Clarke, Tesco invested hundreds of millions in the video streaming business, though Lewis looks determined to part ways with loss-making project.
The Times added that Tesco’s CEO informed senior Blinkbox staff of his decision to when he visited the media division’s office in London on 26 September.
Overnight tech giant Microsoft unveiled the product of its latest efforts to bring its computing prowess to the mobile space via a single new operating system dubbed Windows 10. It is meant to replace the unloved Windows 8 platform.
The new system will be able to run on all devices, from smartphones, tablets and PCs all the way through to Xbox game consoles. Applications will be sold through a single store and the Start Menu – which was eliminated from Windows 8 – has been given a new lease on life, according to The Times.