Ebay says foreign cash needed for U.S. growth, buybacks
SAN FRANCISCO, April 29
SAN FRANCISCO, April 29 (Reuters) - EBay Inc said on Tuesday that access to foreign earnings will allow the e-commerce giant to take advantage of growing opportunities in the U.S. market while also completing $5 billion in share buybacks.
The company, which also reported better-than-expected earnings, will take a $3 billion non-tax charge to repatriate foreign earnings. This will result in an additional $6 billion to eBay's U.S. cash pile. (Reporting by Deepa Seetharaman; Editing by Bernard Orr)
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.