EBay 4Q earnings, revenue up 13 percent

EBay is reporting higher earnings and revenue for the last three months of 2013, driven by a strong holiday season for its e-commerce site and PayPal.

Time Warner to spin off publishing unit Time Inc.

Time Warner said Wednesday it would spin off its publishing arm Time Inc. as a separate company by the end of the year, allowing the US conglomerate to focus on its television and film operations.

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