EBay on a spending spree
SAN JOSE, Calif., October 6, 2008 – eBay Inc. (NASDAQ:EBAY) today announced two acquisitions that significantly extend the company’s leadership position in online payments and classifieds. In payments, the company is acquiring the U.S.-based online payments business Bill Me Later® for approximately $820 million in cash and approximately $125 million in outstanding options. In classifieds, the company has acquired Denmark’s leading online classifieds site dba.dk and vehicles site bilbasen.dk for approximately $390 million in cash.
The company also announced plans to reduce its global workforce by approximately 10 percent, affecting about 1,000 employees in addition to several hundred temporary workers and the reduction of open positions. The global reduction is intended to simplify and streamline eBay’s organization, improve the company’s cost structure and strengthen the overall competitiveness of the company’s existing businesses. The reduction is expected to result in pretax restructuring charges of approximately $70 million to $80 million, with the charges predominantly recorded in the fourth quarter of 2008. Read more..
We’re still buying Alltel – Verizon
LITTLE ROCK — Verizon Wireless still faces significant hurdles in its $28.1 billion bid to acquire Alltel Corp. in a financial climate that has steadily worsened since the companies reached the agreement in June. Read more..
Chelsea owner wants a yacht good enough for Command & Conquer
When you have a personal fortune of £11.7billion, you can perhaps be forgiven for feeling the need for protection.
In Roman Abramovich’s case, the solution is to order an armour-plated mega-yacht with missile detection system to offer early warning of attack by pirates or terrorists.
At 550ft long, the vessel, costing more than £200million, will be the largest private yacht ever constructed. Read more..
Singapore: Ministry of Sound shuts down
SINGAPORE: The curtains have come down on Singapore’s Ministry of Sound (MOS). Lifebrandz Limited, which brought the popular club to Singapore in 2005, announced in a statement that it was ceasing MOS’ operations from October 6. Read more..
Singapore: Singtel hikes up prices
SINGAPORE: SingTel is increasing its local fixed line subscription by S$10 a year from January 1, 2009.
Local fixed line call charges will go up from 0.7 to 0.8 Singapore cents per 30—second block during peak hours or per 60—second block during off—peak hours. Read more..
Philippines: Pinoys irrated over controversial BBC skit
MANILA, Philippines – Filipinos in London are set to launch “concerted efforts” against British government-owned British Broadcasting Corp (BBC) for its reportedly “racist and humiliating” portrayal of a Filipina domestic worker, a lawmaker said on Monday.
Batangas Rep. Hermilando Mandanas, head of the subcommittee on the Department of Foreign Affairs (DFA), said during the plenary debates on the proposed 2009 budget that Philippine Embassy representatives in the United Kingdom were already coordinating with the Filipino community there regarding their protest actions. Read more..