EBay, the world's largest online auctioneer, cut its earnings forecast reducing its fourth quarter earnings and annual estimates. EBay is now forecasting revenues between $2.02 billion and $2.17 billion down from $2.18 billion last year. The company's value of goods sold fell 1 percent during its third quarter, the first drop since the company started. CEO John Donahoe is cutting 10 percent of EBay's... More

EBay has take one more large step towards shifting away from its online auction business. The company has decided to cut its fixed-price listing fees by more then 70 percent, a move aimed at helping the company compete directly with large online retailers such as Amazon.

Craigslist filed a coutersuit against Ebay stating that Ebay used its minority stake in Craigslist to gain corporate trade secrets. Ebay initially filed a suit in Delaware Chancery Court against Craigslist stating that the company held private meeting in order to dilute Ebay's 28.4 percent stake to 24.8 percent or less then a quarter the company.

EBay's CEO, Meg Whitman, confirmed today that she will be stepping down on March 31st right after the company reports fourth-quarter earnings Wednesday. She has been planning the move for quite some time and will be stepping aside to let John Donahoe to take the position as CEO. John Donahoe has been leading eBay's auction and e-commerce businesses.

Ebay announced Monday that Skype's CEO, Niklas Zennstrom, will be stepping down. Ebay acknoledged that they paid too much for the Skype division 2 years ago. They are now taking a $1.43 billion dollars in charges for the Internet phone devision.