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PayPal to split from eBay


    SAN JOSE, Calif. (AP) - PayPal is splitting from EBay and will become a separate and publicly traded company next year.
    The separation is expected to occur in the second half of 2015.
    EBay said Tuesday that its board decided that the separation was the best path for growth and shareholder value creation for each business.
    Dan Schulman, the president of the enterprise growth group at American Express, will be the new president at PayPal, effective immediately. 
    The 56-year-old will become PayPal's CEO once the separation takes place.  Full Story
  
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Two different medical mairjuana proposals goes before San Jose city council


    Two very different approaches to San Jose's medical marijuana dispensaries go before the city council today.
    One would increase fines against the dispensaries, while the other would ease regulations against them.
    Under the fee proposal, dispensaries could face $2,500 dollar fines for crimes like disturbing the peace (on a first offense), $10,000 for improper record keeping, and up to $50,000 dollars for pot clubs with more than one location.
    But on the flip side of that, the council must consider a potential ballot measure that would loosen San Jose's regulations on the dispensaries, after a successful initiative.  Full Story

San Jose City Council to consider affordable housing plan


    A rezoning deal that would transform two acres off Park Avenue will be considered by the San Jose city council today. 
    The plan calls for more than 80 family homes, and 100 more units for senior citizens.     
    The developers say they would aim for low earning families -- those who make between $20,000 and $60,000 per year -- to live there.  Full Story  

EU criticizes Apple/Ireland tax deal


    BRUSSELS (AP) - The European Union's competition watchdog says tax rebates that Ireland granted iPhone maker Apple appear to amount to illegal state aid and may have to be recouped.
    Apple funnels the bulk of its international sales through subsidiaries in Ireland, where it benefits from low, negotiated tax deals.
    In a letter to the Irish government published Tuesday, the 28-nation bloc's executive Commission said the tax treatment granted to Apple raises "doubts about the compatibility" with EU law.
    The Commission says tax deals struck with Apple in 1991 and then 2007 show "several inconsistencies" and may not comply with international taxation standards.  Full Story



 
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