Wednesday, 1 October 2014
Last updated 7 hours ago
Jan 23 2014 | 3:30pm ET
Carl Icahn is going to war with online marketplace eBay, which he would like to split in two.
The activist investor has called on eBay to spin off its online payments business, PayPal, eBay said yesterday. Icahn, who has bought a 0.82% stake in the company, has also nominated two board candidates.
John Donahoe, eBay's CEO, said that he had spoken with Icahn last week. But he made clear that he wasn't interested in hiving off PayPal, which eBay acquired in 2002 and which now generates more than 40% of its revenue and which boasts more users than eBay itself.
"We believe that our collection of assets drive more growth and more success together than apart," Donahoe told The Wall Street Journal. "The eBay marketplace accelerates PayPal's success; the eBay marketplace provides data that makes PayPal smarter."
Icahn did not comment on his latest activist campaign. That reticence is somewhat unusual for Icahn, who is frequently seen in the media and who has become an active Twitter user. Icahn also last year launched a web site to promote his efforts.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...