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Tuesday, September 30, 2014

Business Today: EBay follows Icahn's advice, plans PayPal spinoff in 2015

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EBay follows Icahn's advice, plans PayPal spinoff in 2015
(Reuters) - 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.
Stock futures imply higher open, indexes set for third quarter gain
NEW YORK (Reuters) - U.S. stock index futures pointed to modest gains at the open on Tuesday, indicating a rebound from the previous session's decline as investors once again used a pullback as a buying opportunity.
Walgreen posts highest quarterly sales growth in 3 years
(Reuters) - U.S. drugstore chain operator Walgreen Co reported its biggest jump in quarterly sales in three years, helped by higher prescription sales, sending its shares up more than 3 percent in premarket trading.
News Corp to buy real estate website operator Move for $950 million
(Reuters) - Rupert Murdoch's News Corp said it would buy Move Inc , the owner of property websites such as, for about $950 million to expand its digital marketing business.
Vanguard, BlackRock may reap billions from Pimco after Gross exit
NEW YORK/BOSTON - Vanguard Group and BlackRock Inc could be prime destinations for hundreds of billions of dollars in assets that may flee Pimco in the wake of the sudden exit of Bill Gross, the celebrated "Bond King" of U.S. mutual funds. His new company, Janus Capital Group Inc, may see Gross's cachet attract tens of billions of dollars, investors and analysts said.
EU says Ireland tax deal with Apple was state aid
BRUSSELS (Reuters) - The European Union has accused Ireland of giving Apple Inc. illegal state aid through tax arrangements that had "no scientific basis" but which helped the iPhone maker shelter tens of billions of dollars in international revenues from tax.
Morningstar strips Pimco Total Return Fund of its gold rating
(Reuters) - 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.
Retirement plan advisers set to flee Pimco after Gross exit
(Reuters) - 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.
SoftBank considers stake in Legendary Pictures: report
TOKYO (Reuters) - Japan's SoftBank Corp has been in talks to take a minority stake in privately held movie studio Legendary Pictures, entertainment trade publication The Hollywood Reporter reported on Tuesday.
Lufthansa pilots' 15-hour strike affects 9,000 travelers
FRANKFURT (Reuters) - Lufthansa pilots threatened further strike action on Tuesday as they began a 15 hour walkout at Frankfurt airport in a row with management over retirement benefits that stretches back two years.
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