The Business Roundtable, a group of CEOs of nearly 200 major U.S. corporations, gave a new definition of the "purpose of a corporation."Marketsread more
Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recessionUS Marketsread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Since its IPO 15 years ago, Google has become more and more powerful. Today, that power is being highly scrutinized.Technologyread more
Sequoia's Michael Moritz says that direct listings worked for Spotify and Slack and will become more common for companies with "courage and intelligence."Technologyread more
Shares of embattled utility PG&E plummeted after a judge ruled that a jury can decided whether it should pay up to $18 billion in damages.Marketsread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
In a statement Monday, Barr named Kathleen Hawk Sawyer the new director of the Federal Bureau of Prisons.Politicsread more
Lobbying disclosure reports show that Maria Ressa, who founded news website Rappler Inc. in the Philippines, has tapped two partners out of Covington & Burling to help her...Politicsread more
O'Neill announced in a media gathering at police headquarters Monday that Pantaleo "can no longer effectively serve as a New York City police officer."Politicsread more
The president said the Fed has been hampered by a "horrendous lack of vision" and said it should institute 100 basis points worth of reductions to its benchmark rate.Marketsread more
PayPal shares plummeted 10 percent in extended trading on Wednesday, after longtime partner eBay said it's going with a new payments provider.
EBay will start processing payments using PayPal rival Adyen. When customers check out, they will have the option to stay on eBay and use Adyen's services or leave the website and use PayPal. Adyen will also provide reduced costs for sellers and a simpler pricing structure.
EBay and PayPal have also negotiated new terms through July 2023. This new deal does not extend the previous operating agreement, which would have expired in 2020.
Though they were part of the same company for 13 years, eBay and PayPal were split into independent standalone businesses in 2015.
EBay, which reported earnings on Wednesday, brought in $2.61 billion in revenue during its latest quarter. It also posted earnings of 59 cents per share. Both estimates were in line with analyst expectations, and the stock rose more than 6 percent during after hours trading.
PayPal also reported earnings on Wednesday, posting $3.74 billion in revenue and earnings of 55 cents per share during its latest quarter.
After doubling in the past year and closing at a record $85.32 on Wednesday, PayPal shares sank 10 percent after hours to $76.58.