Tuesday, April 1, 2014

Facebook Executives Big Payday

Facebook Executives Big Payday, Sheryl Sandberg, Mark Zuckerberg, Facebook

Facebook executives must be all smiles because of their huge pay although it's not as high as it was back in 2012.

Based on a SEC regulatory filing, three of Facebook's top executives earned more than $10 million in salary, bonuses and stock awards in 2013. In 2012, three top executives also earned more than $17 million.

Sheryl Sandberg, Facebook's Chief Operating Officer received $16.1 million in compensation last year, she earned $26.2 million back in 2012 which is a huge drop.

David Ebersman Facebook's Chief financial officer received $10.5 million in 2013 ($17.5 million 2012), while Mike Schroepfer, Facebok's chief engineer got $12.6 million in 2013 ($20.7 million 2012). CEO Mark Zuckerberg accepted a merely $1 salary for 2013, well why bother he has a net worth of $27 billion. 

Facebook's ad revenue is up by 72% last year that includes huge growth in mobile ads. Their overall sales was $7.8 billion on 2013, up from $5.1 billion in 2012. 

Thursday, March 20, 2014

Carl Icahn wants Ebay to offer PayPal IPO

Carl Icahn, Ebay, PayPal

Investor Carl Icahn has withdrawn his demand for eBay Inc. (EBAY) to spin off PayPal. Now, he wants 20% of PayPal to be offered to the public. PayPal is the online payment service of eBay.

eBay Inc. disclosed in their 4th quarter fiscal 2013 (4QFY13) earnings that Carl Icahn has a 2.2% stake in the company. He had nominate two individuals to the board of directors and he  has aggressively pushed for a spinoff of PayPal. He said eBay was hindering PayPal's growth, and said that they are damaging its competitiveness against current and potential rivals, that includes Apple and Google Inc.

However, eBay reiterated that the success of both eBay and PayPal depend entirely upon each other’s success, and that they were better off together. The war of words and mudslinging between them is still continuing.

eBay has also reacted strongly to Icahn’s accusations about bad corporate governance and the integrity of the board and has rejected his nominees.

Icahn said that PayPal and eBay should maintain close business ties, while forming independent boards. "EBay's 80% ownership of PayPal, and a commercially advantageous long-term contract between the two companies, would preserve any potential synergies," he said.

eBay replied: "We're glad to see that Mr. Icahn now seems to agree that a full separation of PayPal is not a good idea."

Monday, March 10, 2014

Mt. Gox Hiding $600 Million in Bitcoins Hackers Exposed

Mt. Gox, Mt. Gox hacked, Mark Karpeles

Hackers targeted the web accounts of MtGox boss Mark Karpeles. MtGox halted their trading last month and then filed for bankruptcy after they found out that $465m in bitcoins had been stolen through a security bug.

Investors are demanding for more information about the events and why they have lost their bitcoins.

The hackers gained complete control of Mr Karpeles personal blog and Reddit account. They used their access to steal very detailed information about trading activity at MtGox and then share it on the net. It is a 716MB file.

Some of the things that they have exposed are:
  •     More than one million trades in Excel spreadsheet
  •     Entries from MtGox's business ledger
  •     Information about its back-office administration software

The hackers included a message: "It's time that MtGox got the Bitcoin community's wrath instead of Bitcoin community getting Goxed."

Tuesday, February 25, 2014

Problem with Bitcoin Again; MtGox website Down

MtGox, Bitcoin

Bitcoin has encounter another major problem as Tokyo based MtGox website is shutdown because of reported theft claim that is worth hundreds of millions of dollars.

As of press time (Feb. 25, 2014), if you visit their website you will only see a blank page. Weeks ago, they suspended cash withdrawals due to a bug that allows fraud. 

Sunday, February 16, 2014

Good news for Bitcoin Investors, Bitstamp restores service

Bitstamp the largest exchange service of Bitcoin has reinstated their automated customer withdrawals following a problematic closure of their exchanges for 4 days that have affected the value of Bitcoin. The closure is due to a hacking attacked and malware.

Bitstamp  is based in Slovenia, they have stated:

"after rigorous testing, we have restored fully automated processing for Bitcoin withdrawals."

Bitstamp declared last Friday that they have a software solution to fix the issues, it resulted to a 9.7% rise in Bitcoin's price, the price jumped from $580 early Friday to $670.

Tuesday, February 4, 2014

World Shares Dip as US slowdown joins emerging-market Gloom

World Shares, world economy, finance, world finance

World shares sink to almost a four-month low last Tuesday as signs of a downturn in economy of the United States worsen the jitters caused by a sell-off in emerging markets.

A statistics that shows a weaker U.S. factory activity than they have expected had

A report showing U.S. factory activity was weaker than expected had provoked both the dollar and global equities to slump on Monday. European investors remained anxious on Tuesday after another session of sustained selling in Asia.

Futures prices gained a 0.3% rebound for Wall Street later, but a mid-morning attempt at a stabilization failed in Europe. The benchmark FTSEurofirst index .FTEU3 fell 0.4% and headed for a third day of declines. And Europe looked almost rosy compared with Asia.

Tokyo's Nikkei .N225 dropped by 4% in its worst day since June, cementing its position as the worst performer in developed markets in 2014. MSCI's emerging-market index .MSCIEF plunge 1.4%, accumulating since late October at almost 12%.

Tuesday, January 28, 2014

Charlie Shrem and Robert Faiella of Bitcoin Accused of Money Laundering

Charlie Shrem, Robert Faiella, Bitcoin, Money Laundering

Charlie Shrem, Robert Faiella, Bitcoin, Money Laundering

US authorities have arrested both Charlie Shrem and Robert Faiella of Bitcoin and they were charged with money laundering.

Charlie Shrem 24, is the CEO of New York base company BitInstant, while Robert Faiella 52, is a virtual currency trader known as BTCKing. US Authorities alleges that the two conspired to sell over $1 million Bitcoins (£603,000) to users of black market website Silk Road. Silk Road was closed down by FBI last year because they were charged of using the site to buy drugs anonymously.

Charlie Shrem was at JFK International Airport in New York on Sunday morning, and Faiella, was

Shrem, 24, was arrested on Sunday morning at New York's JFK International Airport. Faiella, 52, was seized on Monday in his Florida home.

They were accused of conspiring to commit money laundering, and operating an unlicensed money transmitting business.

Shrem is also accused of failing to report Faiella's illegal transactions, violating the Bank Secrecy Act, which requires financial institutions to alert authorities of suspicions of money laundering.

US Attorney for Manhattan Preet Bharara said in a statement: "As alleged, Robert Faiella and Charlie Shrem schemed to sell over $1 million in Bitcoins to criminals bent on trafficking narcotics on the Dark Web drug site, Silk Road.