eBay and PayPal Officials in Talks for Possible Banking Move
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The officials of online auction site eBay and its payments unit PayPal are reportedly in talks over the possibility of applying for a limited banking charter, Dow Jones/Associated Press claims.
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EBay Inc. on Tuesday confirmed it is forming a venture with a Chinese partner as the U.S. Web auction giant switches strategies for tapping China, a promising market where it has so far struggled.
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EBay is wooing store owners after decisions by the online retail giant frustrated merchants.
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eBay's latest auction trend may give the company a major headache.
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EBay has reported that it has been having trouble with its PayPal online payment arm. The company says that it has been having technical glitches following a coding update last Thursday.
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EBay is expected to unveil changes to its online marketplace Tuesday that the company characterizes as sweeping and historic and that are aimed at boosting sales by making the shopping experience simpler and safer.The changes, which include lowering some fees and raising merchant standards, will be announced at the company&#39;s eCommerce Forum by John Donahoe, who will&#160;succeed Meg Whitman as president and CEO&#160;in March.Donahoe said last week during a conference call to discuss eBay&#39;s fourth-quarter financials that the eBay marketplace business hasn&#39;t been growing as fast as he would like and that changes would be coming to make the shopping experience easier and safer.&quot;Buyers have become accustomed to streamlined purchasing experiences that put a premium on speed, convenience and reliability,&quot; Donahoe, president of eBay Marketplaces, said last week. &quot;While we&#39;ve made strides in these areas, I&#39;m clear we need to do much more.&quot;On Tuesday he is expected to announce that eBay will introduce an insertion fee reduction in the U.S. Feb. 20 by cutting the cost of listing items by 25 percent to 50 percent. By reducing the impact of items that don&#39;t sell, eBay hopes merchants will list more products. In turn, eBay is increasing the so-called &quot;final value&quot; fees it charges merchants when items are sold.EBay will also do away with fees it charges U.S. merchants for its &quot;gallery&quot; option, in order to encourage merchants to include more photos with their listings. Fee changes will vary by country.In addition, eBay will alter its search engine so that merchants with lower rates of customer satisfaction get less exposure on search results. Meanwhile, sellers with higher buyer satisfaction ratings will get better exposure in search results.EBay will also require a &quot;safe payment option,&quot; such as PayPal or a major credit card, from merchants with lower customer satisfaction and from those in product categories that generate many buyer complaints. Moreover, eBay will also raise the requirements for qualifying as a PowerSeller and update its feedback system.EBay&#39;s fourth-quarter earnings and revenue exceeded Wall Street&#39;s expectations, but its outlook for this year was considered generally disappointing. For example, the conservative 2008 forecast, coupled with slowing growth in the marketplace business, led Citigroup to downgrade the stock to &quot;hold.&quot;&#160;
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Yesterday Deutsche bank were reported to be involved in talks on Monday with the Glazer camp about the possibility of replacing JP Morgan - not any more they ain&#39;t.
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EBay's PayPal payment division will pay $3.5 million to consumers and $1.7 million to 28 states in settlements for two different actions regarding its notification of users regarding their rights, the company said Thursday.
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Apple Computer Inc. AAPL.O on  Friday said customers of its iTunes online music store can now  use eBay Inc.'s EBAY.O online payment service PayPal to buy  songs and audio books, becoming the second major online music  store to do so.
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Executives at eBay apologized to frustrated customers who were frozen out of the online auction&#39;s payment transaction service, which experienced at least five days of intermittent failures earlier this month.
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An eBay seller and Universal Music Group are battling in a legal case that could have wider implications for a consumer's right to resell purchased music.
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NEW YORK/SAN FRANCISCO  - Top online auctioneer  eBay Inc  said on Wednesday it would appeal a U.S.  court ruling in a patent dispute with MercExchange LLC.
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PayPal, the online payment service owned by auction firm eBay, has been suffering intermittent glitches since Friday. Some users have been locked out of their accounts for long periods, and
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EBay's PayPal division recently snapped up Israeli security company Fraud Sciences, in a move that could help advance eBay in its long battle against online scammers.
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The significant&#160;changes that eBay announced last week&#160;have merchants abuzz as they analyze and react to the impact that the restructured fees, modification of the search and feedback functions, and other changes will have on their sales and profits.
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Speculation is rife on Wall  Street that a big Internet deal or alliance is in the works,  with Google, Yahoo, eBay or Microsoft as possible partners --  and a Yahoo-eBay partnership seen as most likely.
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Canada&#39;s TD Bank Financial Group says it&#39;s discussing a &quot;possible transaction&quot; with Portland, Maine-based Banknorth Group.