The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Stocks in Asia fell Monday afternoon following an escalation in the U.S.-China trade war late last week.Asia Marketsread more
Analysts at the investment bank raised their rating on eBay to overweight all the way from underweight — skipping equal weight — and hiked their price target to $58 a share from $36. Morgan Stanley's new price target represents a 42.8 percent upside from Tuesday's close. EBay's stock was up 7.6 percent this year as of Tuesday's closing.
"We expect EBAY to start intermediating its own payments (pulling away from PayPal) in '18 as management stated on its 4Q:17 conference call, with a planned full transition in mid-2020," Morgan Stanley analyst Brian Nowak said in a note to clients. "We are bullish about this initiative as we've seen other leading platforms … observe higher user conversion/spend from."
"As a payment intermediator, EBAY will be responsible for collecting funds from buyers and instructing payment processors to disburse funds to merchants, which is currently done by PayPal. EBAY acting as both marketplace and payment intermediator could simplify and reduce costs for merchants, who would pay a single fee to EBAY," he said.
EBay and PayPal were part of the same company until 2015, when they were split into independent stand-alone businesses. Earlier this year, eBay announced it would use Adyen to process its sales.
Nowak said eBay's move away from PayPal should improve the company's ability to grow buyers and gross merchandise value, as well as increase earnings before interest and taxes (EBIT) by 20 percent over the next three years. It will also lead to a 52 percent increase in gross payment margin, he said.
"We could be early, as the market may not give EBAY credit for its 2021 payments business for some time," Nowak said. "That said, we expect the '18/'19 testing/gradual roll-out to act as sign posts for progress."