Daily Video: Yahoo Spins Off $40 Alibaba Stake Into SpinCo Unit

 
 
By eWEEK Staff  |  Posted 2015-01-29 Print this article Print
 
 
 
 
 
 
 

Yahoo spins off $40B Alibaba stake into unit called SpinCo; Apple posts record $74.6B revenue, record $18B profit in Q1 2015; SoftLayer CEO Lance Crosby resigns from IBM; and more.

 
Harris Poll Shows Samsung Reputation Hurt by Note7 Smartphone Recall

DAILY VIDEO: Samsung's reputation hurt in latest Harris poll after Note7 debacle; Kubernetes...

New LG G6 Smartphone to Feature Side-by-Side FullVision Display

DAILY VIDEO: LG G6 smartphone getting side-by-side FullVision display; Azure SQL database threat...

Verizon, Yahoo Agree to Reduce Buyout Price to $4.55 Billion

DAILY VIDEO: Verizon negotiates down to $4.55B for Yahoo transaction; Congressional staffers see...

Google Tells RSA Show Audience How it Secures a Billion Android Users

DAILY VIDEO: How Google secures over a billion Android users; Amazon moves into teleconferencing...

Oracle Appeals Ruling in Java Infringement Dispute With Google

DAILY VIDEO: Oracle revives Java copyright infringement dispute with Google; Apple to Mark Smartphone...

Trump Administration Holds Back Executive Order on Cyber-Security

DAILY VIDEO: White House withholds cyber-security order for further revision; Cortana to help Windows...

Kaspersky Finds New Malware Designed to Hide in Memory, Steal Data

DAILY VIDEO: Kaspersky discovers new malware designed to stealthily steal data; Microsoft to shield...

U.S. Court Orders Google to Turn Over Data Stored on Overseas Servers

DAILY VIDEO: Federal court says Google must turn over data in foreign servers; Cisco report: mobile...

Leak of Windows 10 Cloud Suggests Microsoft Readying Chrome OS Fighter

DAILY VIDEO: Windows 10 Cloud leak points to potential Chrome OS fighter; TiVo's analytics pinpoint...

Google Shuts Down Short-Lived Hands Free Mobile Payment App

DAILY VIDEO: Google drops hands free mobile payment app; Microsoft Outlook on iOS welcomes Evernote...



Read more about the stories in today's news:

 
 
 

Yahoo has announced a plan to carry out a tax-free spin-off of its shares in Alibaba.

Yahoo, which once owned nearly 30 percent of the China-based e-commerce site that went public last year, said it would transfer its remaining 15 percent stake—384 million shares worth about $40 billion, plus what it called "legacy, ancillary businesses"—into a new unit dubbed SpinCo. Shares of the new unit will be distributed to Yahoo shareholders.

Apple just had its best-ever financial quarter, posting $74.6 billion in revenue and $18 billion in net profits for the first fiscal quarter of 2015.

This was mainly due to immense sales of its latest iPhone 6 and iPhone 6 Plus smartphones, Mac computers and sales of apps and more in the company's App Store. Apple reported sales of 74.5 million iPhones around the world, an increase of 46 percent compared to the 51 million iPhones Apple sold in the same quarter a year ago.

Lance Crosby, founder and CEO of IBM’s SoftLayer unit, has resigned from IBM. Sources close to the situation said Crosby decided now was a good time to step away, as IBM has reorganized with a newly- formed IBM Cloud group headed by Big Blue veteran Robert LeBlanc.

Crosby was set to transition to a new role as head of innovation for IBM Cloud when he decided to leave.

Hewlett-Packard is beginning to fill out the lineup of executives who will lead the two new independent companies when the tech giant splits apart later this year.

Cathi Lesjak, currently HP's CFO, will stay with CEO Meg Whitman at Hewlett-Packard Enterprise, as will Martin Fink, CTO and head of Hewlett-Packard Labs.

Other well-known executives staying with Hewlett-Packard Enterprise include Henry Gomez, who will be chief marketing and communications officer and Mike Nefkens, who will lead the Enterprise Services Group.

Dion Weisler, currently executive vice president of HP's printers and PC unit, will head second company, HP Inc. Others joining Weisler at HP Inc. include Jon Flaxman as COO; Shane Wall as CTO; Ron Coughlin, who will run the Personal Systems Group, and Stephen Nigro, who will lead the Printing Group.

 
 
 

Submit a Comment

Loading Comments...
 
Manage your Newsletters: Login   Register My Newsletters























 
 
 
 
 
 
 
 
 
 
 
Rocket Fuel