eBay CEO John Donahue faced a fresh attack from billionaire activist investor Carl Icahn, who nominated two directors to the retailer’s board and accused Donahue of “inexcusable incompetence.” Icahn wants eBay to spin off its PayPal unit, a move the company is against.
Bill Gross, founder of the world’s largest bond fund, PIMCO, was the subject of a devastating article in The Wall Street Journal that questioned his management style and recent investment performance, laying much of the blame for the recent departure of CEO Mohamed El-Erian at his feet.
The proposed $45 billion mega-merger between Comcast and Time Warner Cable put the spotlight squarely on Federal Communications Commission Chairman Tom Wheeler. The FCC and Department of Justice will conduct the merger review, looking at such factors as market concentration, pricing power, and broadband access, among other issues, to determine approval or rejection.
Comcast’s surprise deal to acquire Time Warner Cable for $45.2 billion leaves Charter Communications, led by CEO Tom Rutledge, with few options. Charter had been pursuing Time Warner Cable for months.
Despite beating analysts revenue and earnings expectations in its first quarter as a public company, investors sent Twitter shares down sharply because of poor user growth. The company only added a disappointing 9 million new subscribers in the quarter.
Remember when investors were worried about Facebook’s transition to mobile? Well, they aren’t anymore, as the social networking company reported a blowout fourth quarter, bringing in $2.6 billion in total revenue. More importantly, about 53% of Facebook’s advertising revenue now comes from mobile.
Facebook Chief Operating Officer Sheryl Sandberg officially became a billionaire this week after the company’s shares, which account for the bulk of her fortune, closed at a new high of $58.51, according to Bloomberg’s “Billionaires Index.”
Cable company Charter Communications, in which John Malone’s Liberty Media holds a 27% stake, made an unsolicited $61.3 billion bid for larger rival Time Warner Cable. The move marked the beginning of what is expected to be a protracted battle that could reshape the nation’s cable landscape.
Snapchat CEO Evan Spiegel is facing fallout from both the hacking of the usernames and phone numbers to about 4.6 million users and the company’s snarky response to the hacking incident. He has yet to apologize for the incident, which happened on Christmas Eve.
Ben Bernanke will chair the last U.S. Federal Reserve meeting of his career tomorrow , where the focus will be on whether or not he will begin reducing the government’s $85 million of month in bond repurchases, a possibility he has talked about for much of the year but not yet done.