- EBay Inc said it would spin off PayPal, its fast-growing payments business, into a publicly traded company in the second half of 2015, marking an about-face for the company.
Recent Business News
- Morningstar downgraded its analyst rating on the Pimco Total Return Fund to "bronze" from "gold", citing uncertainty about outflows and the reshuffling of management responsibilities after the exit of co-founder Bill Gross.
- Bill Gross's sudden departure from Pimco and the Total Return Fund he ran for 27 years was the last straw for Jim Phillips, president of Retirement Resources, a Peabody, Massachusetts-based firm that advises 401(k) plans with $50 million to $100 million in assets. He's advising clients to head for the exits.
So much for “one country, two systems”.