 | Good afternoon Bit |  |  | Yahoo named PayPal President Scott Thompson CEO as the company plows ahead with a strategic review in which discussions have included the possibility of being sold, taken private or broken up. Thompson, a former Visa payments software platform designer, joins the company five months after the firing of previous CEO Carol Bartz.
Thompson has been credited with driving growth at eBay's online payments division. After the Yahoo appointment, some questioned if he could replicate his success as CEO of Yahoo. "The risk element is that his background was in payments. And this is not a payment company, it's a marketing, technology company," said Lawrence Haverty, a fund manager with GAMCO investors, which owns Yahoo shares.
Microsoft said it is suing Britain's second-largest electronics retailer Comet for allegedly creating and selling more than 94,000 sets of "counterfeit" recovery CDs of its Windows operating system to customers buying Windows-loaded PCs and laptops. A spokesman for Kesa, which owns Comet, told Reuters that Comet provided the disks as a service to its customers between March 2008 and December 2009, but stopped the practice when Microsoft objected. He said Comet sold the disks as many buyers of PCs and laptops did not create their own recovery CDs and faced problems when their computers failed.
Securities regulators charged an investment adviser with using LinkedIn and other social media networking websites to lure investors by offering more than $500 billion in fake securities. The SEC alleged that Anthony Fields, 54, of Lyons, Illinois, made the fraudulent offers to sell securities through two sole proprietorships. The agency said Fields provided false and misleading information about clients, assets under management and even the history of his firm's business.
Twitter apologized for incorrectly verifying a false account for Wendi Deng, the wife of News Corp CEO Rupert Murdoch. The fake account with the handle @Wendi_Deng popped up on Sunday soon after a real Twitter account was started by the media mogul on New Year's eve. The Wendi account was initially verified by Twitter, featuring the well-known blue tick which shows Twitter has confirmed the account belongs to the named person. But by early Tuesday, Twitter was forced to remove its famous blue tick from the Wendi account after it said it confirmed the account did not belong to her. AllThingsD's Kara Swisher said it was a case of mistaken punctuation. | | | LATEST NEWS | | Analysis: Thompson exit puts focus on PayPal spin-off | | January 04, 2012 04:09 PM ET | | (Reuters) - The surprise departure of PayPal President Scott Thompson from eBay Inc could seriously set back any moves to spin-off the payments business as a separate company, investors and analysts said on Wednesday. | Full Article | | Verizon mobile margins to fall on iPhone sales | | January 04, 2012 04:36 PM ET | | NEW YORK (Reuters) - Verizon Wireless said it expects to report a decline of up to 6 percentage points in its fourth quarter profit margins as costs rose on strong sales of Apple Inc iPhone and other devices. | Full Article | | | BUSINESS NEWS
| | Wall Street ends near flat in low volume | | January 04, 2012 04:07 PM ET | | NEW YORK (Reuters) - Stocks ended nearly flat in a low-volume session on Wednesday, but some investors were encouraged to see equities avoid a selloff amid lingering euro zone debt problems. | Full Article | | Kodak prepares for Chapter 11 filing: report | | January 04, 2012 04:18 PM ET | | (Reuters) - Eastman Kodak is preparing a Chapter 11 bankruptcy protection filing in case it is unable to sell its digital patents to raise capital, The Wall Street Journal reported on Wednesday. | Full Article | | Obama defies Republicans with consumer agency pick | | January 04, 2012 04:44 PM ET | | WASHINGTON/CLEVELAND (Reuters) - A defiant President Barack Obama said he will bypass Congress and install Richard Cordray as head of the country's new consumer financial watchdog, escalating an election-year fight with Republicans, who questioned the legality of the move. | Full Article | | | | U.S. TOP NEWS | | | | | RELATED VIDEO | | |  |  | | A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today. |  | | Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents. Register Today. |  | | The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.. Register Today. | | | » MORE NEWSLETTERS | | | ODDLY ENOUGH | | | | | | |
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