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Italy sells luxury state cars on eBay

Italy's cash-strapped government has raised more than 370,000 euros by selling 52 luxury cars owned by the state through online auction site eBay, the prime minister's office has said. On the first day of sales, Rome managed to sell executive vehicles worth 371,400 euros ($513,000) from the sale of "auto blu" cars, the name given to those owned by ministers and state officials. The sell-off was sanctioned by the new Prime Minister Matteo Renzi.

EBay asks shareholders to veto Icahn's PayPal spin-off proposal

(Reuters) - EBay Inc urged its shareholders to vote against activist investor Carl Icahn's proposal to spin off the e-commerce company's PayPal payments unit. Last week, Icahn asked eBay to sell 20 percent of the PayPal payments unit in an initial public offering, a change in tack from his previous call for a complete spin off. "Our shareholders and our customers are best served by keeping PayPal and eBay together," eBay's board said in a letter to shareholders.

EBay CEO sees Icahn getting louder, tells employees not to listen

SAN FRANCISCO (Reuters) - Carl Icahn's campaign to convince eBay Inc to spin off its PayPal payments service will intensify in the run-up to eBay's shareholders' meeting in May, eBay's chief executive said on Thursday, warning employees to ignore the "noise." EBay CEO John Donahoe and directors of the Internet retailer have traded barbs with Icahn on a near-daily basis since the activist investor first expressed his view that spinning off PayPal would create shareholder value.

EBay CEO's total compensation for 2013 sinks 53 per cent, performance-based bonus drops

EBay Inc. CEO John J. Donahoe's total compensation for 2013 plunged 53 per cent compared with 2012, when the e-commerce company gave its leader more than $23 million in stock awards. The San Jose, Calif., company, which is sparring with activist investor Carl Icahn over board seats and its future direction, also gave Donahoe, 53, and other executives a lower-than-targeted incentive payment earlier this year. It noted that eBay missed financial targets last year, according to a regulatory filing.

EBay rejects Carl Icahn's director nominees, urges reelection of its 4 directors

SAN JOSE, Calif. - EBay is urging shareholders to support its directors and reject the pair put up by Carl Icahn. The two sides traded barbs Monday in the latest round in the ongoing tussle between the e-commerce company and the activist investor who wants to split it in two. Icahn and eBay began their dispute in January, when Icahn disclosed a less than 1 per cent stake in the company.

Icahn escalates push for eBay, PayPal split

NEW YORK (Reuters) - Billionaire investor Carl Icahn increased pressure on eBay Inc to separate from its payments business PayPal on Wednesday and called corporate governance at the e-commerce giant "dysfunctional." The activist investor, who disclosed a 2.15 percent stake in the e-commerce giant on Monday, also promised to lay out a more detailed case for spinning off fast-growing PayPal in coming weeks.

EBay responds to Icahn's letter, says that it plans to stick with PayPal business

NEW YORK, N.Y. - EBay and activist shareholder Carl Icahn are continuing their war of words over PayPal. The billionaire has been pressuring the e-commerce company to spin off the online payment business. But eBay has said it's not interested in separating its fastest growing segment. On Monday, Icahn said in a blistering letter to shareholders that eBay's "complete disregard for accountability at eBay is the most blatant we have ever seen" and called out two directors and the CEO specifically for "lapses in corporate governance."

EBay reliance on PayPal for growth lowers chances of spinoff

By Phil Wahba and Nadia Damouni NEW YORK (Reuters) - EBay Inc is fighting the proposal by activist investor Carl Icahn to spin off PayPal because it views the payments service as crucial to long-term growth prospects of the e-commerce company. The marketplaces business, eBay's biggest, is growing at a slower rate than both PayPal and eBay rival Inc. PayPal, estimated to be worth as much as $40 billion on its own, helps bolster eBay's share price.

EBay 4th-quarter earnings, revenue grow, company gets Icahn proposal to spin off PayPal

NEW YORK, N.Y. - EBay said Wednesday that its earnings and revenue grew in the last three months of 2013, driven by a strong holiday season for its e-commerce site and its fast-growing payments business, PayPal. The company also said activist investor Carl Icahn is seeking a non-binding shareholder resolution to spin off PayPal. EBay said the billionaire investor has nominated two of his employees to the company's board and now owns a stake of 0.82 per cent in the San Jose, Calif.-based company. Shares of eBay rose $2.99, or 5.5 per cent, to $57.40 in extended trading.

EBay dismisses Icahn proposal to spin off Paypal

By Phil Wahba and Nadia Damouni (Reuters) - Carl Icahn has taken a stake in eBay Inc and is proposing a spin-off of the its fast-growing PayPal division, but the e-commerce giant rebuffed the overture, setting the stage for a potential battle with the activist investor. EBay, which bought PayPal for $1.5 billion in 2002 and has considered hiving off the multibillion-dollar payments service, argued on Wednesday that the business would lose synergies with the overall e-commerce business as an independent unit.
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