eBay and PayPal, split
eBay and PayPal are no longer together in an unholy union, now free to give unsatisfactory service as separate entities! They'd been together since 2002, but have decided to consciously uncouple, like Chris Martin and Gwyneth Paltrow.
This was announced back in September 2014, but will come into play today. We're wearing black armbands to mark the occasion.
It is thought that the two went their own way, so PayPal could better compete with Apple Pay and other contactless payment thingummies. That said, some of the board at eBay were reluctant to let PayPal go, because it had grown so much, and with growth, comes money.
Of course, PayPal will still be eBay's main payment provider, so as far as the customer is concerned, nothing changes - you'll still be able to complain about them both as much as you ever have.
On Monday, PayPal will trade independently on the stock market, where someone might even ring a bell, much to the delight of sweaty men in flammable cheap suits. Not great news for eBay, as analysts predict that eBay's market value could drop drop from £47bn to somewhere in the region of £19bn.
Still, it isn't like having £19bn to play with equates to being broke. PayPal, meanwhile, will immediately become a thing that is worth more that its parent company.
One of the things that should be of concern to eBay, is that Amazon and Etsy have stolen a load of ground from the auction site, and whether they'll be able to compete in the long-run is debatable. Don't be surprised to see a Deathwatch about eBay in the future, as everyone continues to find alternatives and become increasingly annoyed the eBay's way of doing things.